News Releases

Newfoundland Power announces closing of $90 million bond issue

August 11, 2023: Newfoundland Power Inc. announced today the closing of $90 million, 5.122 per cent First Mortgage Sinking Fund Bonds, due August 11, 2053. The net proceeds from the private placement will be used by the Company to repay its short-term borrowings, which were incurred principally to fund capital expenditures, and for general corporate purposes.

Newfoundland Power releases first Sustainability Report

June 15, 2023: Newfoundland Power released its first Sustainability Report today, which reports on the Company’s operations and guiding sustainability pillars for 2022. The report includes the Company’s new target to reduce its controlled greenhouse gas (GHG) emissions by 55% by 2035, as compared to 2019 levels, and key performance indicators.

Newfoundland Power Employees Host Annual EnviroFest Beautification Projects

June 5, 2023: Newfoundland Power and its employees are celebrating National Environment Week and over 25 years of environmental stewardship by hosting their EnviroFest 2023 beautification projects.

We’re In This Together: Newfoundland Power Employees Donate $250,000 Through Power of Life

May 11, 2023: Through Power of Life, a longstanding partnership between Newfoundland Power and the Cancer Care Foundation, a $250,000 donation has been given in support of the In This Together Campaign to build a new Chemotherapy Unit at the Dr. H. Bliss Murphy Cancer Centre.

Newfoundland Power Employees Donate Over $32,000 in Cancer Care Equipment Through Power of Life

September 23, 2022: Through Power of Life, a longstanding partnership between Newfoundland Power and the Cancer Care Foundation, much-needed cancer care equipment valued at over $32,000 was donated to hospital sites across the island this week.

Celebrating 20 Years of Power of Life: Newfoundland Power Employees Donate $15,000 to the Patient and Family Support Fund

September 14, 2022: September 2022 marks the 20^th Anniversary of Power of Life, a partnership between Newfoundland Power and the Cancer Care Foundation, that supports cancer care in Newfoundland and Labrador.

Newfoundland Power announces closing of $75 million bond issue

April 27, 2022: Newfoundland Power Inc. announced today the closing of $75 million, 4.198 per cent First Mortgage Sinking Fund Bonds, due April 27, 2052. The net proceeds from the private placement will be used by the Company to repay its short-term borrowings, which were incurred principally to fund capital expenditures, to redeem maturing first mortgage bonds, and for general corporate purposes.

Newfoundland Power Applies to Cease to be a Reporting Issuer in Canada

March 28, 2022: Newfoundland Power Inc. (“Newfoundland Power”) today announced that it has voluntarily applied to the Ontario Securities Commission (the “OSC”), as principal regulator, for an exemptive relief order under the securities legislation of each of the provinces of Canada (the “Jurisdictions”) to cease being a reporting issuer in each of the Jurisdictions (the “Order Sought”). The ultimate outcome of the application and timing of an order are uncertain.

Decrease in Electricity Rates for Customers: Approval of Newfoundland Power’s 2022/2023 General Rate Application

February 17, 2022: Newfoundland Power Inc. has received an order from the Newfoundland and Labrador Board of Commissioners of Public Utilities (PUB) on its 2022/2023 General Rate Application (GRA). The PUB order approves the Company’s GRA based on the settlement agreement filed with the PUB on November 23, 2021. As a result, there will be an average decrease of 1.1% in electricity rates for residential and commercial customers effective March 1, 2022.

Newfoundland Power Employees Give the Gift of Warmth To Cancer Patients This Holiday Season

December 20, 2021: Newfoundland Power's employees, retirees and customers have generously donated 4 new blanket warmers for cancer patients receiving radiation treatment at the Dr. H. Bliss Murphy Cancer Centre. This gift, valued at over $24,000, is a direct result of fundraising efforts for Newfoundland Power's corporate Charity, Power of Life.

Newfoundland Power Recognized as a Leader in Resilience and Reliability

November 24, 2021: The Canadian Electricity Association (CEA) honoured Newfoundland Power with the Resilience and Reliability Award for their dedication to meet the electricity needs of customers. Newfoundland Power is the recipient of CEA’s first ever Reliability Award having overcome obstacles and developing long term solutions in asset management, innovation in reliability, outage communications and overall reliability management.

Decrease in Electricity Rates for Customers: Settlement of Newfoundland Power’s 2022/2023 General Rate Application

November 23, 2021: A settlement agreement was filed today with the Newfoundland and Labrador Board of Commissioners of Public Utilities (PUB) regarding Newfoundland Power Inc.'s 2022/2023 General Rate Application (GRA). Recent negotiations have resulted in the settlement of all maters related to this application. If approved by the PUB, there will be an average decrease of 1.1% in electricity rates for residential and commercial customers effective March 1, 2022.

Newfoundland Power Receives Sustainable Electricity Company Designation from the Canadian Electricity Association

June 24, 2021: Today the Canadian Electricity Association (CEA) is proud to honour Newfoundland Power with the Sustainable Electricity Company Designation for their achievement in prioritizing sustainability practices. Newfoundland Power is the 10th company to receive this prestigious designation. As the primary distribution utility in Newfoundland and Labrador, Newfoundland Power has been providing electricity to the province for 135 years.

Newfoundland Power files 2022/2023 General Rate Application

May 27, 2021: Newfoundland Power Inc. today filed a 2022/2023 General Rate Application (GRA) as ordered by the Newfoundland and Labrador Board of Commissioners of Public Utilities (PUB). In the application, the Company is proposing an average increase to current electricity rates of 0.8%, or 80 cents on a $100 electricity bill, effective March 1, 2022, for both residential and commercial customers. As a regulated utility, Newfoundland Power is required to file a GRA about every three years. This process includes a full review of the Company’s costs and customer rates.