N.L. announces $54M in relief on home heating, electricity costs
Oct 22, 2026
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Video Summary
AI GeneratedThe Newfoundland and Labrador government is introducing affordability measures to lower winter heating costs, providing a combined $54 million in savings. Residential electricity customers will receive a 15% rebate from December to March, and the furnace oil supplement will double to $1,000, funded by unexpected oil revenues to alleviate cost-of-living pressures.
Heating your home will be a little more affordable this winter,
thanks to an announcement on Thursday
that will allow electricity customers
and those who heat their homes with furnace oil
to save a combined $54 million.
On Thursday morning,
the Premier and Finance Minister visited the operational hub
for the province's electricity system to make this announcement.
Rather than waiting until the final agreement is completed,
Beginning in January 2027,
residential customers will see a 15% reduction
in their Newfoundland Power and Newfoundland
and Labrador Hydro electricity bills.
And the government is also doubling
the supplement for those who heat their homes
with an oil furnace from $500 to $1,000.
This means lower monthly power bills
for hundreds of thousands of households
across Newfoundland and Labrador.
Many residents are increasingly focused on the cost of heating
and powering their homes.
The 15% electricity rebate was originally supposed to kick in
once formal contracts were signed with Quebec
on a new Churchill River energy deal.
But it might be next spring before any deal is formalized.
The Premier said people need help this winter.
And the government will use a portion of the estimated $600 million
in unexpected oil revenue to cover the cost.
This is about ensuring that the wealth generated
from our province's resources works for all of us.
The break on electricity will cover
a four-month period from December to March.
The rebate will provide an estimated $351
in annual savings for an average household.
Those eligible for the furnace oil
supplement have until January 15th to apply.
For those who have already received their payment
or have already applied, there will be no need to reapply.
The government says this is the first
of a series of affordability measures
and to expect more announcements in the coming weeks
as an oil revenue windfall is used to pay down debt
and help cushion the growing cost of living pressure on families.
Terry Roberts, CBC News, St. John's.