The time has come for the Consumer Advocate of the Public Utilities Board to act to reduce unfairly high electricity rates, says Opposition Leader Yvonne Jones.

“Last summer, the Public Utilities Board approved increased electricity rates across the province due to adjustments to the Rate Stabilization Plan.  At the time, oil prices were peaking at close to $150 per barrel.  Today the price of oil is 1/3 or $50 per barrel yet the people of the province are paying electricity rates based on last year’s prices,” says Ms. Jones.

Jones points out that around the same time on July 1 of last year, Marine Atlantic set its fuel surcharge to 27.7 per cent.  Marine Atlantic has since dropped its surcharge due to reduced oil prices.

“Major industrial companies in the province are cutting back or closing down production and shedding thousands of jobs in the process.  Consumers in this province deserve relief from these unreasonably high electricity prices during these difficult and uncertain times,” says Jones.