News
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Hydro Joins the Province to Announce Final Rate Mitigation Plan
Read More: Hydro Joins the Province to Announce Final Rate Mitigation PlanOn May 16, Hydro President and CEO Jennifer Williams joined Minister Parsons as the Government of Newfoundland and Labrador announced the final details of the Rate Mitigation Plan. Together, with actions taken to date, this plan limits rate increases related to Hydro’s costs to 2.25% from now through 2030. We know our customers have been…
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Hydro provides update on recent weather events and Muskrat Falls assets
Read More: Hydro provides update on recent weather events and Muskrat Falls assetsThis morning, our President and CEO, Jennifer Williams spoke with the media following our quarterly letter to the Public Utilities Board on the status of our newest assets. Ms. Williams also reflected on the significant weather event that resulted in system outages last weekend. Watch the video or read the statement below for the highlights…
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Share your thoughts on Reliability, Rates and Growth of the Electricity System
Read More: Share your thoughts on Reliability, Rates and Growth of the Electricity SystemWe are inviting all customers and the public to participate in an online survey. What is it about?The survey includes questions about reliability, outages, rates, and growth relating to the province’s electricity system. This feedback will help guide Hydro’s approach to its upcoming system planning activities. How to Participate?The survey is accessible online or by…
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Newfoundland and Labrador Hydro releases third quarter 2023 financial results
Read More: Newfoundland and Labrador Hydro releases third quarter 2023 financial resultsToday, Newfoundland and Labrador Hydro (Hydro) released its financial results for the third quarter of 2023. Key highlights • Hydro’s year to date net income was $313 million, a $230 decrease compared to the same period last year. For the third quarter, net income was $199 million lower compared to the third quarter of 2022,…
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Newfoundland and Labrador Hydro releases second quarter financial results
Read More: Newfoundland and Labrador Hydro releases second quarter financial resultsNewfoundland and Labrador Hydro (Hydro) released its financial results for the second quarter of 2023 today. Key highlights • Hydro’s net income for the second quarter was $173 million, a decrease of $90 million compared to the same period in 2022. On a year-to-date basis, Hydro’s net income was $332 million, a decrease of $31…
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Clarifying recent reporting regarding combustion turbines and the plan for our energy future
Read More: Clarifying recent reporting regarding combustion turbines and the plan for our energy futureContrary to recent reporting, there is no decision to move forward with an application to construct a combustion turbine at this time. We would like to clear up any confusion that may have resulted from these reports. First, we remain committed to supporting the growth of renewable energy supply, one of 11 goals highlighted in…
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UPDATE: All Customers restored after System Event Interrupts Service for some Island Customers
Read More: UPDATE: All Customers restored after System Event Interrupts Service for some Island CustomersEarlier this afternoon, there was an interruption to about 16,000 of Island customers, or 31 MW (5%) of supply, with most being restored within 7 minutes. This was an “Under frequency load shedding event”, which occurred after a trip of the Labrador Island Link and switching event at the Soldiers Pond Terminal Station. Trips are…
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Serious Workplace Incident Results in Fatality at Holyrood Terminal Station
Read More: Serious Workplace Incident Results in Fatality at Holyrood Terminal StationIt is with heavy hearts, that we confirm we responded to a serious workplace incident at the Holyrood Terminal Station on Thursday, August 10 that resulted in the fatality of one of our employees. We are sending our heartfelt condolences to the family and friends of our colleague during this difficult time. Nothing is more…
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Newfoundland and Labrador Hydro Releases 2022 Annual Business and Financial Results and First Quarter 2023 Results
Read More: Newfoundland and Labrador Hydro Releases 2022 Annual Business and Financial Results and First Quarter 2023 ResultsToday, Newfoundland and Labrador Hydro (Hydro) released its annual Business and Financial Report, including the Annual Audited Consolidated Financial Statements for the year ended December 31, 2022. Hydro also released its Unaudited Financial Statements and financial results for the first quarter of 2023. “In 2022, Hydro evolved to meet your expectations. While continuing to provide…
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Electricity rates are changing for most customers, effective July 1, 2023
Read More: Electricity rates are changing for most customers, effective July 1, 2023Rates for our Island Interconnected, L’Anse au Loup and Isolated Rural customer rates are changing, effective July 1, 2023. Rates will increase between 3.4% and 6.7% for residential customers and between 7.0% and 8.4% for commercial customers. Rates for customers in Hydro’s L’Anse au Loup and Labrador Diesel Systems are adjusted for the Northern Strategic…