A hearing coming February 1st on a 5.5% increase in power rates

    Thursday, 11 January 2024 12:02

    By Tonya Organ

    A pre-hearing conference will take place February 1st in St. John’s. All documentation related to the application is available on the Board’s website at www.pub.nl.ca 

    Newfoundland Power is asking the Public Utilities board for a 5.5% increase in current electricity rates for all customers effective July 1st, 2025. Last month, the Public Utilities Board was asked to complete a review of the utility’s 2025 and 2026 costs to be recovered in electricity rates. According to the Application the proposed rate increase is primarily the result of a proposed increase in the company’s return on equity from 8.5% to 9.85% and increases in costs since its last general rate application. Full recovery of Newfoundland Power’s costs, including forecast supply costs, could result in a significantly higher increase in customer rates than the 5.5% indicated in the application. A pre-hearing conference will take place February 1st in St. John’s. All documentation related to the application is available on the Board’s website at www.pub.nl.ca 

     

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Heavy snow

      High: 0°C | Low: -6°C

    • Deer Lake

      Low-level cloud

      High: 1°C | Low: -5°C

    • Stephenville

      Light snow

      High: 1°C | Low: -2°C

    Recently Played

    Podcasts

    • BayFM On-Demand

      Trash Talk Thursday

      Trash Talk Thursday, December 11, 2025

    • The Plain Truth

      The Plain Truth, December 10, 2025

      Today's show will provide tips on how to prevent or better manage Diabetes

    • Qalipu Today

      Qalipu Today, December 9, 2025

      Judy Falle-Doucette on Qalipu Today talks about her new book, Poppa and the Medicine Wheel.