An announcement was made last Friday that the power rates in Newfoundland and Labrador will increase almost by 7% on July 1st.
An average increase of consumer electricity rates of 6.8 % was approved by the Newfoundland and Labrador Board of Commissioners of Public Utilities, but the actual amount of increase will vary for individual customers depending on the type of service and the amount of electricity used.
On average, residential electricity rates will increase by 6.8 % to 8.3 % depending on class of service.
For street and area lighting, the monthly rates will increase by an average of 1.6%.