HAY RIVER, NT (April 29, 2016) – The Northwest Territories Power Corporation (NTPC) has applied to the Public Utilities Board (PUB) for interim rates while the general rate application (GRA) is prepared and processed.
If the interim rate is approved, it will mean a 4.8 per cent increase in the price of power or approximately $10 per month for a residential customer using 1,000 kWh per month during the winter.
The GRA will be filed in the next few weeks and will apply for an increase spread over three years to avoid a significant increase in a single year for power customers. The estimated increases for the upcoming GRA are: 4.8% in the first year; 4.0% in the second year; and 4.0% in the third year.
In 2012, NTPC applied for general rate increase, it’s first in five years and resulted in a 28 per cent increase spread over four years.
When submitting a General Rate Application, PUB rules do not allow NTPC to build in an annual cost of living into the application, thereby creating a catch-up period to bring rates in line with actual costs and sales.