PUB approves 9% electricity rate hike for July 1

The Public Utilities Board has approved a nine per cent increase for customers of Newfoundland and Labrador Hydro, effective July 1.

Even though the increase is less than half what the company asked for in its application earlier in 2017, it's hard to get excited about.

• Consumer Advocate says 18% electricity rate hike 'unacceptable'

In the past two years, customers got a break because of a rate stabilization fund that smoothes out bumps in the cost of oil and in energy consumption, and rates went down in the annual adjustment.

This year is different, Hydro said, largely because of fluctuations in the price of fuel.

Its original requestto jack up rates by 18.6 per cent stalled at the PUB in May, with the board asking the utility to find ways of mitigating such a large increase.

The utility acknowledged the impact on consumers, and had options ready by the time the Consumer Advocate went public with criticisms on Wednesday.

The PUB approval came on Friday.