New Brunswick announces comprehensive review of NB Power – New Brunswick [Video]

New Brunswick Premier Susan Holt announced on Monday a comprehensive review of the province’s debt-laden electric utility.

Holt said the independent review of Crown-owned NB Power will be conducted by a three-person panel who will gather and analyze data, seek public feedback and develop recommendations. All options will be considered for the utility and its operations because with soaring power bills for customers, “the status quo is no longer an option,” the premier said.

“The challenges that NB Power faces are complex and it will take many solutions to address them,” Holt told reporters. “We can’t keep kicking the can down the road as many previous governments have done, transformative change is required.”

Energy Minister René Legacy said the review will focus on four areas: fiscal sustainability; governance and utility structure; customer expectations; and investor attractiveness and strategic partnerships.

“Competitive electricity rates are key to supporting our export-dependent industries and …