NB Power review

NB Power is projecting significant future rate increases that are creating affordability challenges for rate payers and competitiveness concerns for our export dependent industries. At the same time, the utility is burdened with a high debt to equity ratio exceeding 90% and limited options to grow equity.

Aging assets coupled with deferred maintenance are creating reliability and energy security concerns and challenging the ability to share risk when attracting investment.  
 
There is a need to undertake a comprehensive review of the utility to ensure that everything possible is being done to provide competitive and stable rates, ensure reliability of service and ultimately position the utility to manage growth and the clean energy transition in an affordable, competitive and financially sustainable way. 

Learn more about NB Power.

The review will be conducted by a team of three independent leads, with varying expertise, and responsible for gathering and analyzing data, conducting engagement activities, and developing recommendations based on their findings. The leads will be supported by both a steering committee and an advisory committee. Work is underway to identify and secure the review leads, and an announcement will be made in the coming weeks. 

Priority areas: 

• Financial sustainability 
• Governance and utility structure 
• Investor attractiveness / strategic partnerships
• Customer expectations

Providing opportunities for meaningful conversations with New Brunswickers will be critical to the success of the review.  
 
Engagement will include intensive one-on-one meetings with key stakeholders, advocates, rights holders and potential partners, employ a variety of tools such as virtual and in-person meetings, surveys and public submissions to give New Brunswickers a chance to share their feedback. Additional information will be released later this Spring.