We understand how important it is to offer our customers safe, reliable electricity service at the lowest cost possible. We continue to work hard to control our costs while improving safety, reliability and customer service for the benefit of all our customers.
Effective July 1, 2022, there was an overall average decrease of 0.3% in customer electricity rates.
Under the normal regulatory process, customers were expected to receive an overall average decrease of 6.4% on July 1, 2022, as a result of the annual operation of the Rate Stabilization Adjustment. This would have reflected a 4.7% decrease related to Newfoundland and Labrador Hydro (Hydro) and a 1.7% decrease related to Newfoundland Power. The expected rate decrease has been offset by a 6.1% increase due to the introduction of Hydro’s Project Cost Recovery Rider which enables recovery of Muskrat Falls Project costs from customers to begin.
*Rates do not include Harmonized Sales Tax (HST)
* Rates per kWh as of July 1, 2022. Including Basic Customer Charge.
To get practical advice on how to save energy and save money on your monthly electricity bill, visit takeChargeNL.ca.