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.
RNC and others working to clear a number of stuck tractor trailers on TCH near Corner Brook
TCH traffic moving again after a jackknifed transport truck near Barachois Pond Park
19-year old man facing charges in St. Anthony after threatening a car load of people with a knife
TCH blocked by transport truck near Barachois Park
RCMP investigating tanker crash near Thorburn Lake that damaged a bridge and shut down the TCH
