NB Power’s request for April 1 rate hike denied, new rate delayed

NB Power is looking to hike rates by nearly five per cent.

NB Power’s request to increase rates in April has been rejected by the New Brunswick Energy and Utilities Board (EUB), with a new rate expected in either June or July.

The decision was announced Monday on the first day of hearings considering the utility’s application for a 4.75 per cent rate increase in 2026-27.

Such an increase would add about $10.90 a month for the average residential customer using 1,350 kWh/month.

In January, NB Power made a request for an interim rate order to account for delays in hearings for the general rate application.

NB Power had previously asked, and was given EUB approval, for the prioritization of public hearings considering a natural gas generating station in Tantramar – ahead of the general rate application.

Stewart said a new rate would’ve been possible by April 1 if the original EUB schedule had been kept, and that the delay “was caused by factors within NB Power’s control.”

“An interim rate order is an extraordinary remedy and it is not intended to shield utilities from the known or reasonably foreseeable consequences of their own business decisions,” said Stewart.

NB Power said it was disappointed by the EUB’s decision.

“We will continue to fully participate in the regulatory process as our general rate application moves forward,” said a written statement from the utility on Monday.

In January, NB Power said any delay to an April 1 rate increase would “significantly impact the utility’s revenue and its ability to make critical investments or improve its financial health.” The utility said the delay in implementing a new rate until July 1 would result in a revenue loss of $22.3 million, representing 35 per cent of NB Power’s budgeted net earnings for the 2026-27.

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