The province’s Consumer Advocate is accusing Newfoundland Power of taking advantage of what he says is an inadequate PUB process in submitting an “excessive” capital budget.

Dennis Browne and Newfoundland and Labrador Hydro have each written the Public Utilities Board, telling them that Newfoundland Power’s $110-million capital budget is concerning and that the expenditures need to be reduced.

In its submission to the PUB, NL Hydro says Newfoundland Power’s $109.7-million 2022 Capital Budget Application “reflects a continuing pattern of growth in capital investments” in spite of declining energy sales and strong reliability performance.

Consumer Advocate Dennis Browne agrees.

He says rate mitigation efforts have as an objective to keep electricity rates below 15 cents kWh. Newfoundland Power this year is seeking nearly $110-million in capital expenditures, and is seeking an additional half a billion dollars over the next five years. “We can’t afford that,” says Browne.

Browne says the PUB has not held a full capital expenditure hearing in the last 17 years and that, in practice, Newfoundland Power has become self-regulating.