Electricity rates will increase for most customers on Saturday, July 1 according to Newfoundland and Labrador Hydro.
In a press release on Wednesday, June 28, they said the rate increase will be 3.4 percent and 6.7 percent for residential customers and between seven and 8.4 percent for commercial customers.
NL Hydro said they know that customers continue to be concerned about electricity rates reads the press release. Their priority is to provide safe cost-conscious and reliable services while meeting their commitments to a net zero electricity system.
The rate changes are connecting fuel costs from previous years that haven’t been collected through the existing rates the company said.
The carbon ax will add 14 cents per litre to gasoline and diesel, and people who heat their homes with furnace oil-more than 40,000 homeowners in N&L will see an extra 17 cents per litre on their bills.