Newfoundland and Labrador Hydro's quarterly report is revealing the high cost of keeping electricity rates stable in the Muskrat Falls era, with nearly $600 million committed in the first nine months of 2025 to subsidize rates and pay the mortgage on the controversial hydroelectric project.

Up to the end of September, $591 million was allocated to rate mitigation, with $441 of that being paid by N.L. Hydro from its own funds, and $150 million coming from the federal government as part of a rate mitigation plan that was finalized in April 2024.

In the same nine-month period in 2024, $240 million was committed to rate mitigation.

The federal government's share of the money comes primarily from revenue Ottawa receives from its ownership stake in the Hibernia offshore oil project.

The heav

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