No in­crease in elec­tric­ity rates for res­i­den­tial cus­tomers in 2019-2020: New­found­land Power

The Gulf News (Port aux Basques) - - Saltwire Wheels -

New­found­land Power’s res­i­den­tial and com­mer­cial cus­tomers aren’t likely to see any gen­eral in­crease in their elec­tric­ity rates next year.

The com­pany is­sued a news re­lease Wed­nes­day say­ing it has filed a set­tle­ment agree­ment in its gen­eral rate ap­pli­ca­tion (GRA) with the New­found­land and Labrador Board of Com­mis­sions of Pub­lic Util­i­ties (PUB).

The PUB had asked New­found­land Power to sub­mit a GRA by June 1, the first time it had done so since 2015.

The com­pany says its cost of op­er­a­tions has not led to an in­crease in base rates since 2016 and, if the set­tle­ment is ap­proved by the PUB, it will con­tinue through 2019 and 2020.

“This means there will be a five-year pe­riod with no in­crease in base elec­tric­ity rates for our cus­tomers re­lated to New­found­land Power’s op­er­a­tions,” pres­i­dent and CEO Peter Al­teen stated in the re­lease.

“This con­tin­ues our long his­tory of re­spon­si­ble cost man­age­ment. Over the past 20 years, New­found­land Power’s costs have added only ap­prox­i­mately half a cent per kilo­watt hour to our cus­tomers’ elec­tric­ity rates.”

New­found­land Power will, how­ever, change the ba­sic cus­tomer charge for small com­mer­cial cus­tomers.

The util­ity com­pany also says im­ple­men­ta­tion of its en­ergy-ef­fi­cient LED street­light ser­vice will be­gin March 1 of next year. The new lights will be­come the stan­dard go­ing for­ward as they pro­vide bet­ter light­ing qual­ity and im­proved re­li­a­bil­ity while also re­duc­ing over­all costs to cus­tomers. Com­pared to ex­ist­ing lights, New­found­land Power says the new lights will re­sult in sav­ings of be­tween eight and 39 per cent.

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