The PCs don’t like some of the terms of the provincial government’s electricity plan released yesterday.
There’s no change in electricity rates, but Newfoundland and Labrador Hydro is going to return the excess money paid for fuel burned at Holyrood sooner than normal. Usually, it’s paid back over the course of 12 months, but the provincial government will order the Public Utilities Board to have the full amount—$50-million—returned in one lump sum in July.
Government will spend $2.5-million to allow the utilities to waive interest charges on overdue accounts, but Finance Critic Tony Wakeham doesn’t like the administration fee attached.
None of the information has been spelled out. For example, Wakeham doesn’t know if the fee amounts to thousands of dollars or millions of dollars.