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The NB Power head office in Fredericton. Image: Submitted/NB Power

NB Power’s 8.9% Rate Hike Application Comes Before EUB

By Brad Perry Feb 13, 2023 | 5:01 AM

Hearings begin Monday on a proposed 8.9 per cent rate hike by New Brunswick’s provincial electric utility.

The New Brunswick Energy and Utilities Board has set aside nine days to hear NB Power’s application.

NB Power says the increase would amount to $16 per month or $200 per year for the average customer.

If approved, the Crown corporation has asked that the rate hike take effect on April 1.

In its application, NB Power cited numerous reasons for the sizeable increase such as unprecedented hikes in fuel and purchased power costs, extraordinary inflationary pressures, supply chain issues and steep commodity prices.

The utility said its costs have gone up in areas such as energy efficiency, digital technology, operations and maintenance, labour and benefits and the Mactaquac Dam Life Achievement Project.

NB Power was granted a two per cent rate hike last spring.

With files from Allan Dearing


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