The Public Utilities Board is conducting a review in relation to the regulation of the maximum price of petroleum products in Labrador. This review was initiated by the Board earlier this year as a result of concerns raised following the dramatic drop in world petroleum products prices over the period of several weeks in the spring of 2020. A number of specific issues have been identified by the Board, including zone boundaries, zone differentials, the frequency of maximum price adjustments, and the suspension of maximum price adjustments for the winter in some regions of Labrador.
In May and June of this year the Board wrote community and industry stakeholders to request information and commentary in relation to the issues to be addressed in this review. The Board received a very good response and continued to gather related information and commentary throughout the summer. This information has been reflected in a consultation paper. Stakeholders will now have an opportunity to provide their feedback on the information and issues raised in this review before the Board makes it determinations later this fall. Click here for the available documentation.
The Board has released a consultation paper which provides background and information relating to the regulation of the maximum price of petroleum products in Labrador, including how prices are established, how petroleum products are supplied as well as the costs incurred by retailers and wholesalers to supply these products to the region. The consultation paper sets out the issues and the options which may be considered to address these issues. Click here for the consultation paper.
How to get involved
The deadline for submitting comments on the consultation paper has passed.
More information in relation to the ongoing review will be available in the upcoming weeks.