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.
Clocks go back one hour this Sunday, time to "fall back" to standard time
Premier releases resignation letter former member of Churchill River oversight panel
RNC wishes everyone a safe and fang-tastic Halloween!
Milltown Records to release Halloween Compilation in Corner Brook tonight
Shutdown at Corner Brook Pulp and Paper coming Monday due to low water levels for Deer Lake Power
