HAY RIVER, NWT (February 27, 2015) – The Northwest Territories Power Corporation (NTPC) is reminding customers that the fourth and final Public Utility Board (PUB)-approved rate increase, from the 2012 general rate application, will appear on April 2015 power bills.
“NTPC understands that the cost of living is high in the NWT and that the cost to generate power is high due to the economies of scale in the territory,” said Emanuel DaRosa, NTPC President & CEO. “The Corporation continually strives to improve its efficiency and look for ways to cut costs while continuing to provide reliable power generation to the residents and businesses in the Territories.”
In 2012, NTPC applied to the PUB for the first rate increase in five years and at that time the PUB approved a 28.4 per cent increase. A single increase of this size would have had a significant impact on power customers however NTPC’s shareholder, the Government of the Northwest Territories, provided the necessary funding in order to mitigate that impact by spreading the increase over a four year period.
The April 1, 2015 increase is the final of these four rate changes and will be approximately
6.2 per cent. While the PUB has already approved an increase, the amount still requires additional approval which is being sought through the rate application process.
A residential customer that relies on the Territorial Power Support Program and who uses 700kWh per month will see an increase of about $8 per month.
Customers are reminded that conserving power is an effective way to lower their electricity bills and are encouraged to visit www.PowerWiseNWT.com for money and energy saving actions.