Newfoundland Power is looking for a 1.2 per cent increase in electricity rates, effective March 1 of next year.
The utility has made a general rate application before the Public Utility Board.
The President and Chief Executive Officer of Newfoundland Power, Peter Alteen, says they understand that any rate increase matters to their customers, and they’re working hard to minimize rate increases by managing costs.
Among the costs affecting the rate increases are continued maintenance and energy supply costs.
Meanwhile, Newfoundland and Labrador Hydro has applied for an increase of 2.8 per cent for July 1, and another 9.4 per cent in January as part of the General Rate Application (GRA).
Hydro is also asking for a 4.7 per cent increase as part of the annual Rate Stabilization Plan (RSP).