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NB Power rate increase request approved [Video]

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New Brunswick News

New Brunswick’s Energy and Utilities Board has approved a nearly 13 per cent increase on bills for NB Power residential customers starting next month.

On Tuesday, the EUB approved NB Power’s request for a three per cent increase on its ‘variance account recovery’ application. NB Power’s request cited outages at the Point Lepreau Nuclear Generating Station and the need for replacement fuel.

Last week, the EUB approved NB Power’s general rate application of a 9.8 per cent increase for residential customers.

When NB Power made its combined 12.8 per cent rate increase request public in December, it suggested EUB approval would amount to a $300 increase for average residential customers in 2024-2025.

The new rate is expected to take effect April 1.

NB Power’s 9.8 per cent rate increase is considered “interim,” and is still subject to final approval from the EUB later this spring. In the event of a lower rate being approved, NB Power said …

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