Power rates are going up July 1st.
The 7 per cent increase reflects Newfoundland Power’s recent general rate application, a Hydro rate increase and annual adjustments.
The PUB says had it not been for rate smoothing, the rate increase would have been 15 per cent to reflect a number of rate increases and adjustments.
Newfoundland Power’s original rate increase application was for 10.6 per cent, but the PUB asked the utility to go back to the drawing board resulting in a 8.5 per cent increase.
