The Public Utilities Board (PUB) will hear today why Newfoundland and Labrador Hydro believes power rates should go up.
The regulator is holding hearings as part of a general rate application which, if approved, could see electricity rates increase 12 per cent over the next two years. The increase equates to about a $7 a month jump in 2018 and another $7 a month in 2019 – and that doesn’t take into account any increases anticipated as a result of Muskrat Falls.
NL Hydro says the increase is needed to help offset the costs incurred by the company when it added a third transmission line to the Avalon Peninsula to increase reliability. Consumer advocate Dennis Brown is arguing against the increase. He’s accused Hydro of trying to increase rates now for Muskrat Falls later.
NTV’s Danielle Barron is covering the story and will have more at 6 on the NTV Evening Newshour.