Hydro files General Rate Application with the Public Utilities Board

July 30, 2013, St. John’s, NL – Newfoundland and Labrador Hydro (Hydro) filed a General Rate Application (GRA) today with the Newfoundland and Labrador Board of Commissioners of Public Utilities (PUB) to set electricity rates effective January 1, 2014.
This is the company’s first application since 2006 and will adjust rates to reflect current costs to provide electricity for customers.
With this application, the majority of residential customers in the province will see a decrease in their electricity rates. Residential customers in Labrador and rural isolated customers will see increases in their rates. Overall, customers in Newfoundland and Labrador will continue to benefit from some of the lowest electricity rates in Canada.
“Hydro continues to focus on managing the cost of electricity while making prudent capital investments in our system to ensure we deliver safe, least‐cost, reliable  electricity for our customers,” said Rob Henderson, Vice President, Newfoundland and Labrador Hydro. “Hydro has continued to control our operating and maintenance costs over the last six years. They have remained flat and risen only by inflation while addressing growing requirements to maintain and rebuild our aging infrastructure.”
Since 2007, the cost of fuel has increased by 46 per cent however, rates are adjusted annually to reflect current fuel price projections. Hydro has focused on reducing its reliance on fuel by integrating wind energy and more hydroelectric  generation.
Over the past six years, Hydro has also made significant investments to maintain the reliability of the provincial electricity system, including approximately $39 million on the Labrador Interconnected System to meet growing demand and improve reliability.
Hydro has not applied for new rates since 2006 and rates must now reflect current costs to ensure the continued delivery of safe, reliable electricity to customers.
Details of the application, including proposed electricity rates for residential, commercial and industrial customers can be found at www.hydrogra.ca.