NB Power issues first quarter financial and operating results

2019-08-28

Fredericton, N.B. – NB Power today issued its financial and operating results for the first quarter of the fiscal year 2019-2020 showing operating earnings of $62 million for the three month period, an increase of 13% over the same period last year. Full details of NB Power’s first quarter financial and operating highlights are available in the report.

The operating earnings improvement was mainly due to increased electricity sales volumes both in and out of province.  Export sales were particularly strong exceeding the same period last year by 106%.

Operational highlights were as follows:

• Energy Efficiency Awards were held in Moncton to highlight leading-edge technologies, innovative ideas and stewardship projects throughout the province.
• Investments of $2 million were announced by NB Power and Natural Resources Canada on an energy-conservation and research project to test Conservation Voltage Reduction (CVR).
• The Town of Shediac, NB Power, and Natural Resources Canada announced the first Smart Energy Community project to create a major green energy initiative in the town. It will serve as a testing ground for new technologies being developed by NB Power and Siemens Canada.

MEDIA CONTACT: Sheila Lagacé, communications, NB Power, 506-458-4375; SLagace@nbpower.com