PUB directs Newfoundland Power to reduce customer rate increase coming August 1st

    Thursday, 25 July 2024 07:00

    By Tonya Organ

    The Board directed Newfoundland Power to reduce the proposed overall average customer rate increase of 9.3% to 7.0%, to become effective August 1, 2024.

    The Public Utilities Board has released Reasons for Decision in regards to an order that was issued on July 10th.  The Board directed Newfoundland Power to reduce the proposed overall average customer rate increase of 9.3% to 7.0%, to become effective August 1, 2024. The unrecovered portion of Newfoundland Power’s March 31, 2024 rate stabilization account balance will remain in the account and will be considered as part of its application for July 1, 2025 rates. The Board’s Order is intended to reduce concerns in relation to rate shock and contribute to rate stability while providing Newfoundland Power with timely recovery of prudent costs.

    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

      Sunny intervals

      High: 13°C | Low: 6°C

    • Deer Lake

      Sunny intervals

      High: 13°C | Low: 4°C

    • Stephenville

      Sunny intervals

      High: 13°C | Low: 7°C

    Recently Played

    Podcasts

    • BayFM On-Demand

      61st Silver Blades Annual Ice Show

      Kayla Barry, Ava Baker and Sophia Brenton from the Silver Blades Skating Club will be taking part in the Silver Blades Annual Ice Show, Saturday night at the Corner Brook Civic Centre.

    • Trash Talk

      Trash Talk Thursday, April 30, 2026

      Lynn Howse joins Lenny for Trash Talk Thursday

    • NL Summer Games 2026

      NL Summer Games 2026

      Blaze's Corner