Type Public Revenue $420,000,000 CAN Headquarters St. John's, Canada Founded 1924 | Products Electricity CEO Gary Smith (1 Aug 2014–) Number of employees 650 (2017) Parent organization Fortis Inc. | |
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Industry Electricity generation & distribution Key people Gary Smith, President & CEO Website www.newfoundlandpower.com Profiles | ||
Newfoundland Power Incorporated is a Canadian utility company formed by the Royal Securities Corporation of Montreal in 1924. It is regulated by the Public Utilities Commission. Newfoundland Power is the primary retailer of electric power in Newfoundland and Labrador.
In the year of its incorporation it purchased the assets of the St. John's Light and Power Company which had been formed originally by Robert Gillespie Reid as the St. John's Street Railway Company in 1896. Those assets included Newfoundland and Labrador's first hydro electric generating station at Petty Harbour, Petty Harbour Hydro Electric Generating Station.
After 1924 Newfoundland Light & Power Company became a subsidiary of the International Power Company, and it remained a subsidiary until 1949, when the parent company sold its shares in it to the general public.
The Newfoundland Light & Power Company supplied the general needs of the St. John's urban area and operated the city's electrical street car system. In 1948 the street railway was disbanded and the company became solely an electric company.
Newfoundland Power operates 23 hydro generating plants, three diesel plants and three gas turbine facilities for a total installed capacity of 139.4 MW.