GNWT to Subsidize Power Rate Increases
The Government of the Northwest Territories (GNWT) announced a $48 million dollar subsidy of $12 million per year over four years to the Northwest Territories Power Corporation (NTPC) to mitigate power rate increases for residents of the NWT.
This subsidy, in direct response to escalating power costs across the NWT, will offset impacts of rate increases proposed in NTPC’s General Rate Application (GRA), lowering the proposed rate increase from 24.8 percent to 15 percent.