Newfoundland Power has filed a $73-million capital budget application with the Newfoundland and Labrador board of commissioners of public utilities.
A news release from the company says more than half of the proposed capital expenditure for 2011 will go to replacing old components of the province's power grid, including two transmission lines in St. John's and one on the southern shore of the Avalon Peninsula.
Newfoundland Power also plans to refurbish its hydroelectric generating facilities.
About 40 per cent of the money is earmarked for new equipment to meet increased customer demand, including upgrading transformers at Kelligrews and Pulpit Rock substations on the Northeast Avalon, and building new power lines to connect new customers.
"Our ability to maintain our electricity system at the least cost to our customers is largely dependent upon the quality and condition of our assets," said Newfoundland Power's president and CEO Earl Ludlow.
"Over the past five years, the company has invested in excess of $300 million to enhance the provincial electricity system. These investments have benefited our customers through a 25 per cent decrease in the number of outages per customer over the same period."
Newfoundland Power to boost its electricity system
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Comments
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- Jeff
- - July 20th, 2010 at 13:02:43
Yeah, I am sure that everyone will notice another rate hike on their light and power bills as well to cover the cost of this. Companies like these don't make enough money you know. They encourage you to conserve energy and buy CFS and go R-2000 and the like and then send the rates up so that you save nothing at all in the long run!
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- John
- - July 20th, 2010 at 13:02:42
Jeff....or they could just let everything deterioate and run the risk of large blackouts or more expensive fixes down the road. Someone always gotta complain.
