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Soaring power rates limit small business growth in Newfoundland and Labrador

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CFIB report shows impact of increasing electricity rates on small businesses

St. John’s, February 22, 2016 – New research from the Canadian Federation of Independent Business (CFIB) shows small business owners in Newfoundland and Labrador are concerned with both increasing power rates and the availability of support they are getting to improve energy efficiency in their business. The report, Powering Entrepreneurship, provides a small business perspective on power utilities and the cost of electricity in Atlantic Canada. 

“Energy costs are a huge concern for our members,” said Vaughn Hammond, Director of Provincial Affairs for Newfoundland and Labrador. “Ninety per cent of our members use electricity as the main source of energy in their business. They are concerned with the increasing cost of electricity and are looking for ways to become more energy efficient.” 

CFIB’s report shows small business owners want programs to help them improve energy efficiency in their business. Some programs do exist, but there is a clear lack of awareness of what is available among small business owners. CFIB met with Minister of Natural Resources, Siobhan Coady, and Minister of Environment and Conservation, Perry Trimper, as well as the public utilities, and there is agreement much more can be done. It is in everyone’s interest that small business owners keep their electricity costs down. 

“We were pleased with the discussions, the willingness and the commitment from the government and public utilities to work with small businesses on energy efficiency,” explained Hammond. “These programs, available through takeCHARGE, are valuable to small business owners seeking to control their electricity costs because, ultimately, the ratepayer is the taxpayer is the consumer.” 

Read “Powering Entrepreneurship” here.

For further information, contact Vaughn Hammond at 709-753-7745 or [email protected]. 

CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region.