We are dedicated to delivering reliable, cost-conscious electricity to our customers. It’s our responsibility to carefully manage the cost of our operations as well as our environmental and social sustainability responsibilities. 

The Newfoundland and Labrador Board of Commissioners of Public Utilities (the Board) regulates the electric utilities in our province. They hold full authority to deal with regulatory matters concerning our organization – including the approval of our capital and system investments, borrowing programs, and electricity rates.  

All of the filings and documents that Hydro submits to the Board are available on the Newfoundland and Labrador Board of Commissioners of Public Utilities website .  

General Rate Application 

Electricity rates are based on the cost of providing electricity to customers – things like the type of generation we use (such as hydroelectricity or thermal/oil), investments we make in the system, and our day to day operating and maintenance costs. During a General Rate Application (GRA), Hydro submits a detailed application to the Board that outlines those costs and any impacts on electricity rates for customers. The Board then reviews our application and decides if the proposed rate changes will be approved. 

As a regulated utility, we are accountable for carefully managing our costs, ensuring we operate and maintain our system as efficiently as possible, and providing reliable service for customers.  

Rate Stabilization Plan 

Although we expect to use less fuel to generate electricity in the future, today we continue to rely on oil to operate our Holyrood plant and reliably serve customers. This has a direct impact on electricity rates.  

Because the price of fuel is constantly changing, we typically adjust rates every year on July 1 to ensure rates accurately reflect the cost of generating electricity each year. This annual adjustment is called the Rate Stabilization Plan (RSP). It is based on the price of oil used to generate electricity at the Holyrood Thermal Generating Station, the amount of electricity used by customers, and the annual amount of water we use for hydroelectric generation. Read more about how the price of fuel impacts electricity rates. 

Capital Budget Applications 

Each year by August 1, we are required to file a Capital Budget Application to the Board for review and approval. This sets out our priority projects for the upcoming year, including new construction, system upgrades, replacements and refurbishments. This regular investment in our electricity system ensures we can continue to provide our customers with reliable service while carefully managing our costs. 

Our annual Capital Budget Applications are available on the Board’s website.