A seven per cent increase to Newfoundland Power rates came into effect today. The rate was chosen by the Public Utilities Board as it works toward ‘rate smoothing’ to allow for rates to increase more gradually.

Newfoundland Power originally proposed a 10.6 per cent rate increase back in January, but it was rejected by the PUB. The increase considered Newfoundland Power’s general rate application, a hydro rate increase, to provide for the recovery of hydro costs including Muskrat Falls costs, and the annual July 1 adjustment.