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Newfoundland Power Inc. is an electric utility owned by Fortis Inc. which is the primary retailer of electric power in the Canadian province of Newfoundland and Labrador. The company was formed by the Royal Securities Corporation of Montreal in 1924 as the Newfoundland Light & Power Company .
Newfoundland Power, a subsidiary of St. John's-based Fortis Inc., is the retailer of electricity for most customers in the province. Newfoundland and Labrador Hydro , a Crown corporation , owns and operates most generation, the transmission grid and sells directly to large industrial customers.
Ontario’s electricity distribution consists of multiple local distribution companies (LDCs). Hydro One, a publicly-traded company owned in part by the provincial government, is the largest LDC in the province and services approximately 26 percent of all electricity customers in Ontario.
In 1975, the Newfoundland and Labrador Power Commission, a crown corporation originally established to assist in rural electrification, was renamed Newfoundland and Labrador Hydro Corporation. Newfoundland and Labrador Hydro is the parent company of the Hydro Group of Companies, which comprises Churchill Falls (Labrador) Corporation Limited (CFLCo)
It was formed in 1987, when shareholders of Newfoundland Light & Power Co. Limited voted to create a holding company known as Fortis Inc. to be the 100% owner of the utility. On December 29, 1987, Fortis Inc. began trading on the Toronto Stock Exchange, signaling a new era of growth and diversification.
The Hamilton Falls Power Corporation became known as the Churchill Falls Corporation in 1965 when the name of the falls was changed to commemorate former British Prime Minister Winston Churchill. CF(L)Co began construction on Churchill Falls Generating Station in 1966 and on May 12, 1969, signed a power contract [2] with Hydro-Québec.
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The company also serves remote communities not connected to the main power grids, on Newfoundland and in Labrador. Newfoundland Power, a subsidiary of St. John's-based Fortis Inc., is a regulated distributor serving 239,000 customers, making up 85% of all electricity consumers in the province. The company owns a number of hydroelectric ...