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Newfoundland and Labrador
Regulation 2016


NEWFOUNDLAND AND LABRADOR REGULATION 69/16

NEWFOUNDLAND AND LABRADOR
REGULATION 69/16

Water Power Rental Regulations, 2003 (Amendment)
under the
Water Resources Act
(O.C. 2016-218)

(Filed October 26, 2016)

Under the authority of sections 29 and 64 of the Water Resources Act, the Lieutenant-Governor in Council makes the following regulations.

Dated at St. John’s, October 24, 2016.

Bernard M. Coffey, Q.C.
Clerk of the Executive Council

REGULATIONS

Analysis


        1.   S.4 R&S
Rates

NLR 64/03

        1. Section 4 of the Water Power Rental Regulations, 2003 is repealed and the following substituted:

Rates

        4. (1) The annual rent for a water use licence shall be $2.50 per megawatt hour of power generated.

             (2)  On January 1 of each year during the term of a water use licence the annual rent under subsection (1) shall be adjusted based on the percentage change, rounded to 2 decimal places, in relation to the preceding year, in the All-items Consumer Price Index for Canada as published under the Statistics Act (Canada).

             (3)  For the purposes of subsection (2), the All-items Consumer Price Index for Canada for a year is the annual average calculated from the monthly indexes for the 12 month period ending September 30 of the preceding year.