NL Electricity rates are forecasted to be even higher
At Wreckhouse we were thinking prices would be topping out at 19 cents per kWh and would be increasing from 2021 to 2030. Note that Nalcor cannot increase rates due to muskrat falls until Muskrat Falls is producing power.
We must have been a bit optimistic...
Nalcor has just announced that prices will be 22.89 cents as of 2021. This is almost ten years sooner than we expected as previous estimates had the 21 cents per kWh forecasted for 2030!
First power is now planned for 2019 meaning we should expect a significant price jump at that time.
Net metering applications can be submitted on July 1st (For which the details have not been released yet). Now is the time to contact us so we can get your submission in before the 5MW limit is used.
Things are going to get crazy here so we better get ready!