Rates for Newfoundland and Labrador Hydro’s (Hydro) Island Interconnected, L’Anse au Loup and Isolated Rural customer rates will remain stable, with most rates decreasing between 0.1% and 0.3%, effective July 1, 2022.

There is no change to rates for Labrador Interconnected customers.

 

Why are rates decreasing?

As Newfoundland Power changes its rates, Hydro is required to automatically adjust rates for some customers so they pay the same rates as Newfoundland Power customers or their existing rates are adjusted by the average rate of change granted Newfoundland Power.

The Public Utilities Board approved Newfoundland Power’s Utility Rate Adjustments Application for July 1, 2022, followed by Hydro’s Application, on an interim basis, which resulted in an average decrease of 0.3% in electricity rates for residential and commercial customers effective July 1, 2022.

Labrador interconnected customers are not impacted by the change in rates for Newfoundland Power customers.

Rates are implemented in accordance with Section 16 of Hydro’s Rules and Regulations, Policies for Automatic Rate Changes.

For more information visit click here: https://nlhydro.com/electricity-rates/