Last winter, thousands of people across Newfoundland and Labrador were without power for extended periods of time during the coldest months of the year. NL Power and its parent company, Nalcor Energy, believe it is time to raise the rates for its customers.
The proposed plan would increase rates paid by customers on the Island Interconnected System by 2.8%, and 1.9% for customers on the Labrador Interconnected System.
“We had a lot of problems last year, I’ll admit” said Nalcor Energy’s Peter Joules. “But if we charge people more money for our service, we can then give our executives a pay raise and hope they do a better job.”
Nalcor Energy and Newfoundland Power are completing upgrades to the infrastructure of several of their sites and believe that the increase is rates in also warranted to help pay for these improvements.
“We only manage to do around $500 million in revenue a year, so we need the taxpayers of this province to start paying a little more to make sure we have the funds available to get all these projects completed” explained Joules.