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Little Benefit to Individuals and Businesses from Electricity Announcement
This announcement does not put any extra cash in the pockets of people or business.
Thursday, May 14, 2020

Office of the Official Opposition
For Immediate Release

 

St. John’s, NL (May 14, 2020) – PC Finance Critic and MHA, Stephenville-Port au Port, Tony Wakeham, says today’s electricity rate announcement does not do enough to support individual electricity ratepayers.

Today’s announcement essentially gives the people’s money back to them in the form of a one-time credit. No one will receive a cheque, and no one will benefit more than Newfoundland Power. This announcement does not put any extra cash in the pockets of people or business.

“The Liberal government would like ratepayers to believe that they are getting electricity rate relief, but in reality, customers would have been entitled to receive the value of this credit anyway over a twelve-month period. Furthermore, in providing a one-time credit, Newfoundland Power will also be able to collect an administrative fee, adding to their revenues” said Wakeham.

“I believe that Newfoundland Power should waive their administration fee and give money back to its customers. In fact, the government should direct the PUB to lower Newfoundland Power’s guaranteed rate of return and thus give cash refunds back to its customers,” said Wakeham.

“People and businesses in this province are struggling to pay their utility bills and the Liberal government should help them by putting extra money into their pockets, not by recycling an already existing program to the benefit of a large corporation,” said Wakeham.
 

Contacts:

Bradley Russell

Director of Policy and Research

(p) 1.709.729.3668

BradleyRussell@gov.nl.ca

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