The Newfoundland Labrador Board of Commissioners of Public Utilities approved Newfoundland Power and Newfoundland and Labrador HydroÂ’s application for an increase.
The companies say a higher than expected increase in the cost of Bunker C oil is the reason for the increase.
For the average island consumer without electric heat, their bill will go from $105.90 to $111.87, an increase of 5.6 per cent.
People with electric heat that use more power on average will see their bills will go up 6.1 per cent from $196.20 on average to $208.18.
People in isolate areas of the island will see a slightly smaller increase, and Labrador residentsÂ’ power rates will not change.