The CEO of Newfoundland and Labrador Hydro says she understands any rate increases can be difficult, as customers stare down potential increases beginning next summer.

The PUB has received a General Rate Application from Hydro seeking a bump of 2.25 per cent effective July 2027.

Jennifer Williams explains that the rate mitigation plan announced a few years ago caps any potential increases from Hydro’s operations at 2.25 per cent.

She says that means the Crown corporation takes roughly $500-million of its profits every year and puts it back into its operations to keep them from going any higher.

Williams says they have to strike a balance between staying financially viable, while also keeping rates low. She says they are “doing everything (they) can” to control their costs.