Newfoundland and Labrador Hydro (Hydro) is advising customers of an adjustment in electricity rates as of July 1, 2015.

Electricity rates are decreasing for most customers based on the Rate Stabilization Plan (RSP) and Hydro’s Interim Rate Application. The combined effects on rates are as follows:

Residential customers:

• Island Interconnected Customers (Hydro and Newfoundland Power) – decrease of approximately 4.9%
• Island Isolated Customers – decrease of approximately 4.9%
• Labrador Isolated Customers – decrease of approximately 2.3%
• L’Anse au Loup Customers – decrease of approximately 4.1%

Commercial customers:

• Decrease ranging from 5.2% to 8.2% depending on rate class and usage

The Rate Stabilization Plan adjustment occurs annually to ensure rates are adjusted to account for the annual amount of hydroelectric generation and the price of oil used to generate electricity at the Holyrood Thermal Generating Station.

This year, the July 1 change will also take into account Hydro’s Interim Rate Application which is part of its ongoing General Rate Application (GRA). Hydro applied for interim rates to ensure the costs of operating the system are recovered, while the GRA process is carried out and the final rates are determined.

“Hydro remains clearly focused on ensuring the delivery of safe, reliable electricity to the people of this province now and in the long-term,” said Rob Henderson, Vice President of Newfoundland and Labrador Hydro.  “The focus continues to be on managing our costs, while making the right capital investments in aging infrastructure to ensure we deliver safe, least-cost and reliable electricity service for our customers.  Final customer rates will be determined through the ongoing General Rate Application,” said Henderson.

Customer Impact

The overall customer impact, including the rate change and the conclusion of the Provincial Residential Energy Rebate on July 1 announced in Budget 2015, will vary depending on customer usage and system served by Hydro.  As an example, residential customers on the Island Interconnected System will see an overall increase of approximately 3.1%.  Commercial customers are not impacted by the Provincial Residential Energy Rebate. 

Home Heating Rebate

The Home Heating Rebate is available to residents of the province who directly incur costs to heat their home. Eligible households with an adjusted family income of $35,000 or less qualify for a maximum rebate of $250 ($500 for coastal Labrador). Partial rebates are available to households with adjusted family income above $35,000 but less than $40,001, with a minimum rebate of $100.

TakeCHARGE

Hydro is committed to continuing to help customers save energy and save money in their homes and businesses through the takeCHARGE energy efficiency partnership with Newfoundland Power. Customers are encouraged to visit www.takechargenl.ca for more information.

 

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