In July of 2021, government committed to a $5.2 billion dollar plan that would cap increases at 2.25 percent annually to recover the costs of Muskrat Falls.
Electricity bills are going up by 7 percent today. Newfoundland Power initially requested a 9.3% hike but the Public Utilities Board approved a 7% increase instead. Another potential increase of 1.5% is currently under review, and we may see an additional 12% hike in 2025. This includes a 5.5% rate increase for the 2025-26 period and 6.5% related to power supply and Muskrat Falls costs. Meanwhile, Industry Minister Andrew Parsons says this rate increase could have been much higher had it not been for Rate Mitigation as it applies to the costs of Muskrat Falls. In July of 2021, government committed to a $5.2 billion dollar plan that would cap increases at 2.25 percent annually to recover those costs. Parsons says the need for more power is nationwide and if it wasn’t for this deal the increase would be much higher. He says there are opportunities here with green energy and getting off coal. Rate mitigation provides certainty on NL Hydro’s annual electricity rate increases associated with the cost of Muskrat Falls up to and including 2030.
41-year-old Matthew Delaney charged with two counts of murder in St. John's
UPDATE: Team on site to bring back cell service after damage to a Bell Aliant tower in the La Scie area
Mill City Mavericks, Broadway Blues Band and Tammy Dutcher perform in Stephenville tomorrow night
60th annual Lions Club Santa Claus Parade is tomorrow "60 Seasons of Christmas Magic!"
Blow Me Down Ski Trails to open tomorrow, a month earlier than last year
