Newfoundland Power says there will be no increase in household electricity prices as a result of the approval of its General Tariff Application 2019-2020.
The company says the PUB has approved the proposals outlined in the General Tariff Application, based on a settlement agreement filed in November.
The only change in existing electricity prices, according to Newfoundland Power, will be the primary charge for small business customers from March 1.
President and CEO Peter Alder says they have not contributed to increasing base electricity prices for customers by 2016. Newfoundland Power's energy-saving LED street lighting service, something that will become a standard in the future, is also approved .
From March 1st all new street lights and replacements will use LED technology.