1. The costs of the Labrador Interconnected Group are fixed at $90,000.00, exclusive of HST.
2. Hydro shall, within thirty days, pay costs to the Labrador Interconnected Group in the amount of $90,000.00.

1. The January 1, 2022 Rate Stabilization Plan adjustments for Island Industrial Customers is delayed until a further order of the Board.
2. The current Island Industrial Customer rates are continued until further order of the Board.
3. Hydro shall pay all expenses of the Board arising from this Application.

Rate Base and Rate of Return on Rate Base

1. The forecast average rate base for 2022 of $1,239,085,000 and the forecast average rate base for 2023 of $1,287,450,000 are approved.
2. The rate of return on average rate base for 2022 of 6.61%, in a range of 6.43% to 6.97%, and the rate of return on average rate base for 2023 of 6.39%, in a range of 6.21% to 6.57%, are approved.
3. The use of an automatic adjustment formula shall continue to be suspended until further Order of the Board.
4. Newfoundland Power shall file an application on or before November 15, 2023 for approval of the 2024 forecast average rate base and rate of return on rate base, maintaining the common equity ratio and return on common equity accepted for rate setting in this Order.
5. Newfoundland Power shall, unless otherwise directed by the Board, file its next general rate application no later than June 1, 2024.

Depreciation

6. The calculation of depreciation expense, with effect from January 1, 2022 using the depreciation rates and methodology recommended in the 2019 Depreciation Study, as amended, is approved.

Other Regulatory Matters

7. The amortization of a forecast revenue shortfall for 2022 of $930,000 through the Rate Stabilization Account, over a 34-month period commencing March 1, 2022 and ending December 31, 2024, is approved.
8. The amortization of actual hearing costs for the Board and the Consumer Advocate through the Rate Stabilization Account, over a 34-month period commencing on March 1, 2022 and ending December 31, 2024, is approved.
9. The change in the calculation of general expenses capitalized to remove pension costs, effective January 1, 2023, is approved.
10. Newfoundland Power shall conduct a Load Research Study and a Retail Rate Design Review with a detailed framework and cost estimate for each to be filed by December 31, 2022.
11. The increase in the amortization period for customer CDM program costs from seven years to ten years, commencing January 1, 2021 for both historical balances and annual charges, and the associated amendments to Clause II.7 of the Rate Stabilization Clause are approved.

Rates, Rules and Regulations

12. Newfoundland Power’s Schedule of Rates, as set out in Schedule A, to be effective for all electrical consumption on and after March 1, 2022, is approved.
13. Newfoundland Power’s Rules and Regulations, to be effective on and after March 1, 2022, are approved, with the exception of the proposed changes in relation to Clause II.9 of the Rate Stabilization Clause.
14. Newfoundland Power shall file revised Rules and Regulations to reflect the Board’s determinations in this Order.

Deferral Accounts

15. The Pension Capitalization Cost Deferral Account to amortize the forecast revenue requirement increase of $1,427,000 associated with the change in the calculation of general expenses capitalized, as set out in Schedule B, is approved.
16. The Load Research and Rate Design Cost Deferral Account to defer the costs of the Load Research Study and Retail Rate Design Review, as set out in Schedule C, is approved.
17. The Electrification Cost Deferral Account, as set out in Schedule D, is approved.

Costs

18. Newfoundland Power shall pay the costs and expenses of the Board arising from the Application, including the expenses of the Consumer Advocate incurred by the Board.

1. The Supply Cost Variance Deferral Account as set out in Schedule A, with an effective date of November 1, 2021, is approved.
2. The Rate Stabilization Plan Rules for Balance Disposition as set out in Schedule B, with an effective date of November 1, 2021, is approved.
3. The Revised Energy Supply Cost Variance Deferral Account: Rules for Balance Disposition as set out in Schedule C, with an effective date of November 1, 2021, is approved.
4. The Holyrood Conversion Rate Deferral Account: Rules for Balance Disposition as set out in Schedule D, with an effective date of November 1, 2021, is approved.
5. The discontinuance of the existing RSP Rules and the existing rules related to the Revised Energy Supply Cost Variance Deferral Account and Holyrood Conversion Rate Deferral Account as of November 1, 2021, is approved.
6. The Holyrood Thermal Generating Station Accelerated Depreciation Deferral Account as set out in Schedule E, with an effective date of January 1, 2022, is approved.
7. Hydro shall pay all expenses of the Board arising from this Application.

1. The Island Industrial Customer RSP Current Plan Adjustment of 1.060 cents per kWh is approved.
2. The Island Industrial Customer RSP Current Plan Mitigation Adjustment of (0.675) cents per kWh is approved; and
3. The Island Industrial Customer rates to be effective on all electrical consumption on and after February 1, 2022, as set out in Schedule A to this Order, are approved.
4. Hydro shall pay all expenses of the Board arising from the Application.

1. The Schedule of Rates, Rules and Regulations, as set out in Schedule A to this Order, to be effective on all electrical consumption on and after March 1, 2022, is approved.
2. Hydro shall pay all expenses of the Board arising from this Application.

1. Newfoundland Power’s proposal to issue Series AR First Mortgage Bonds in an amount of up to $100,000,000 to repay short term indebtedness and to redeem the existing 10.125% Series AF First Mortgage Bonds of Newfoundland Power is approved subject to the following conditions:
   1. The Series AR First Mortgage Bonds shall be issued on or before December 31, 2022.
   2. Newfoundland Power shall file with the Board a report specifying the terms and conditions of the bond issue within five (5) days after closing, setting out the following:
1. date of issue;
2. term;
3. maturity date;
4. principal amount;
5. coupon rate;
6. particulars of sinking fund, if any;
7. price to public and to the underwriters;
8. yield to the public;
9. underwriting fee;
10. actual cost (i.e. yield) to Newfoundland Power; and
11. any other material terms or conditions.
3. Newfoundland Power shall file with the Board a copy of the Underwriting Agreement relating to the bond issue within five (5) days after closing.
4. Newfoundland Power shall file with the Board a report on the disposition of the proceeds no later than six months from the date of the closing.
2. Newfoundland Power shall pay all expenses of the Board arising from this Application.

1. The Contribution in Aid of Construction of three hundred thirty-five thousand eight hundred ninety-eight dollars and four cents ($335,898.04), excluding HST, to apply to a Parks Canada Visitor Information Centre located in Rocky Harbour, is approved.
2. Hydro shall pay all expenses of the Board arising from this Application.

1. The 2022 Allowance for Unforeseen Items is reset to $1,000,000 effective April 6, 2022.
2. Hydro shall pay all expenses of the Board arising from this Application.

1. The disposition of the 2021 balance in the Demand Management Incentive Account and related income tax effects by means of a debit in the amount of $1,917,733 to the Rate Stabilization Account as of March 31, 2022 is approved.
2. Newfoundland Power shall pay the expenses of the Board arising from this Application.

1. Newfoundland Power’s Weather Normalization Reserve of a positive balance of $2,019,716 as of December 31, 2021 is approved.
2. Newfoundland Power shall pay all costs and expenses of the Board in connection with this Application.

1. The proposed capital expenditure in the amount of $634,000 for the roof replacement of the Makkovik Generating Station is approved.
2. Hydro shall establish a separate account to record the capital expenditure for the Makkovik Generating Station for the roof replacement project, with the recovery of the expenditure to be addressed in a subsequent order of the Board following a further application by Hydro.
3. Hydro shall pay all expenses of the Board arising from this Application.

1. The Contribution in Aid of Construction of zero dollars and zero cents ($0.00), excluding HST, to apply to Corner Brook Acute Care Hospital, is approved.
2. Newfoundland Power shall pay all expenses of the Board arising from this Application.

1. The proposed capital expenditure in the amount of $137,700 to purchase and install a 545 kW diesel engine at the Mary's Harbour Diesel Generating Station is approved.
2. Hydro shall pay all expenses of the Board arising from this Application.

1. An exemption to Regulation 17 to upgrade the Wabush airport terminal building’s heating system and to construct a new runway sweeper garage and sand & urea shed is approved.
2. The Upstream Capacity Charge of two hundred and ninety thousand, six hundred and twenty-five dollars ($290,625.00) is approved.
3. Hydro shall pay all expenses of the Board arising from this Application.

1. The balances in the Revised Energy Supply Cost Variance Deferral Account, the Holyrood Conversion Rate Deferral Account and the Isolated Systems Supply Cost Variance Deferral Account for 2021 are approved.
2. Hydro’s proposals for the allocation by customer class of the balances in the Revised Energy Supply Cost Variance Deferral Account, the Holyrood Conversion Rate Deferral Account and the Isolated Systems Supply Cost Variance Deferral Account for 2021 are approved.
3. Hydro’s proposal to recover the amounts allocated to Newfoundland Power and the Island Industrial customers through a transfer of balances to the respective RSP Current Plans effective March 31, 2022, with recovery from Newfoundland Power and the Island Industrial customers starting July 1, 2022 and January 1, 2023, respectively, is approved.
4. Hydro shall pay all expenses of the Board arising from this Application.

Application by Newfoundland Hydro for approval to purchase one set of last stage blades to serve as capital spares for Units 1 and 2 at the Holyrood Thermal Generating Station, pursuant to section 41(3) of the Act.

1. The proposed capital expenditure in the amount of $1,578,900 to purchase one set of last stage blades to serve as capital spares for Units 1 and 2 at the Holyrood Thermal Generating Station is approved.
2. Hydro shall pay all expenses of the Board arising from this Application.

1. The proposed capital expenditure in the amount of $3,999,800 for rotor rim shrinking and stator recentering at the Upper Salmon Hydroelectric Generating Station is approved.
2. Hydro shall pay all expenses of the Board arising from this Application.