Power rates in New Brunswick could be on the rise again.
NB Power is seeking an order allowing for a temporary rate increase while it waits for the Energy and Utilities Board to rule on an application made in October.
The motion for an interim order outlines two requests.
First, allowing a temporary increase of 4.75 per cent beginning April 1.
Failing that, the second request is to “allow NB Power to recover any loss in revenue associated with a delay in implementing new rates after April 1, 2026, over the remainder of fiscal year once the decision has been rendered on the GRA (general rate application).”
In a release from the utility, it is stated the measure is necessary due to the delayed hearing date of the GRA.
NB Power said the delay is the result of a scheduling issue caused by the Renewables Integration Grid Security project that is moving through the EUB regulatory process, with hearings set for Feb. 9 to 13.
“Typically, a GRA hearing and decision would have occurred in time for any new rates to take effect at the start of the utility’s new fiscal year, April 1, 2026,” the release said.
NB Power claims any delay to the start date of a rate increase “will significantly impact the utility’s revenue and its ability to make critical investments or improve its financial health.”
The proposed 4.75-per-cent increase would apply across all rate classes.
According to the utility, the average residential customer using 1,350 kilowatt hours per month would see an increase on their bill of approximately $10.90 per month.
The funds would go directly toward upgrading essential infrastructure, ensuring a reliable supply of power for homes and businesses and supporting a transition to clean, modern energy solutions.
If the interim rate motion is accepted, the rate would be in place until the EUB makes a final decision following the planned GRA hearing in March.
If the alternative motion is approved, the EUB would permit NB Power to recover lost revenue resulting from the delay in setting new rates through a separate charge.
The charge would only be applied after the GRA is finalized and would only be in place until March 31, 2027.
According to NB Power, the primary drivers for the rate change request are a need for improvements in reliability and station performance to address an infrastructure deficit, as well as inflation, market prices and customer support.
On its website, NB Power stated specific investments would be made in generating station reliability, vegetation management, cybersecurity and energy efficiency programs.
