An 'offensive' and 'dangerous precedent'? N.L. Hydro proposed rate change would mean 1,100 per cent increase for surplus energy, block chain company says | SaltWire

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ICYMI: BlockLAB, a blockchain company with data centres in Labrador, says the application runs contrary to NL Hydro’s legislated mandate to provide power within NL at reasonable rates which are not unjustly discriminatory.

| Posted: Jan. 4, 2023, 8:13 p.m. | Updated: Jan. 5, 2023, 7:08 a.m. | 3 Min Read

Hydro applied to the Public Utility Board on Sept. 15 for a new non-firm rate for Labrador and a revision of the rates charged to industrial customers for excess power on the island, and six different groups representing business and communities applied for intervenor status in the weeks after.

According to BlockLAB’s submission, the application runs contrary to Hydro’s legislated mandate to provide power within the province at rates that are reasonable and not unjustly discriminatory, referring to it as"offensive" and setting a"dangerous precedent."

 

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