Public utility will host public engagement session on Oct. 30 as part of provincial review
NB Power will host the only regional public engagement session as part of the corporation’s public review next week.
The session is scheduled for Thursday, Oct. 30, from 11 a.m. to 1 p.m., at the NBCC Woodstock campus gymnasium, located at 100 Broadway Street, Woodstock.
In a news release, the provincial government said participants were welcome to attend all or part of a session. It noted that translation services would be available in both English and French.
An interim report summarizing the public and stakeholder engagement will be released by the end of 2025. Final recommendations and any decisions are expected by the end of March 2026.
NB Power is projecting significant future rate increases, creating affordability challenges for ratepayers and competitiveness concerns for our export-dependent industries. At the same time, the utility is burdened by a high debt-to-equity ratio exceeding 90% and limited options to increase 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, stable rates, maintain service reliability, and ultimately position the utility to manage growth and the clean energy transition in an affordable, competitive, and financially sustainable way.
