Newfoundland Power has applied to the Public Utilities Board for a rate increase.

The proposed rate would see bills go up by 0.8 per cent—or 80 cents extra on a $100 electric bill.

If approved, it would take effect March 1 of next year for both residential and commercial customers.

As a regulated utility, Newfoundland Power is required to file a general rate application about every three years. That includes a full review of the company’s costs and customer rates.

They say their current application reflects all changes in the costs to deliver electricity, including continued investment in the system.

The company pointed out there has been no customer rate increase related to its operations in six years.

Newfoundland Power says it expects its application to undergo a thorough review in the coming months.