NB Power rates remain lowest in Maritimes with 0.88% rate increase
Fredericton, N.B. – NB Power will maintain the lowest electricity rates in the Maritime Provinces with an average rate increase of 0.88%. The average rate increase was approved by the Energy and Utilities Board (EUB) today and is effective August 1, 2018.
NB Power is committed to delivering low cost, clean energy and investing in the sustainability of New Brunswick’s energy future.
Revenue from the rate increase will allow the utility to invest in system reliability including improving resiliency of the provincial electricity system, investments in improving Point Lepreau’s operational performance, and continuing necessary grid modernization for the benefit of New Brunswick customers.
The new rates for each customer class are available here.
About NB Power
NB Power is the primary electric utility in New Brunswick and was established in 1920. It serves over 400,000 customers with safe, reliable and efficient electricity. The utility is focused on promoting the efficient use of energy in customers’ homes and businesses by enabling and providing new, value-added energy efficient solutions in order to help reduce carbon, better integrate renewable energy and stimulate the economy.
Based on the current generation mix, NB Power is well positioned to provide its customers with electricity generated with consideration for the environment. Currently, 42 per cent of its energy is from renewable sources and 70 per cent is non-emitting when Point Lepreau is added. The utility is on track to contribute to the provincial goal of having as much as 75 per cent of the electricity used in New Brunswick coming from clean, renewable or non-emitting sources by 2020.
MEDIA CONTACT: Marc Belliveau, Communications, NB Power, 506 458-4203 or firstname.lastname@example.org