Around the world and at home, energy utilities are facing a multitude of challenges that are resulting in a tremendous degree of change in the electricity sector overall. 

We need a reliable, sustainable electricity system to deal with the issues we are facing today and those that will occur in the future as industries and customers increase their use of electricity, as we deal with population growth and at the same time replace several assets in our fleet as they retire or are required to be replaced to provide cleaner, greener energy solutions for our customers. 

At the same time, we are concerned about affordability for our customers as they deal with increasing costs of everything. We know electricity is an essential service that provides quality of life for New Brunswickers, and we are doing everything possible to manage our cost increases. 

As a cost-of-service utility, our rates are based on the actual cost of delivering electricity to New Brunswickers, and we are facing rising costs in the same way New Brunswickers are – both at home and at work. We are doing everything possible to manage our cost increases and minimize rate increases for customers. 

On December 15, 2023, NB Power submitted a General Rate Application to the New Brunswick Energy and Utilities Board (NBEUB) requesting an increase to base power rates that will impact all customers. The utility filed a two-year General Rate Application to provide New Brunswickers with as much predictability as possible in the years to come. The application was based on the expected costs for the 2024/25 and 2025/26 budget years. 

The rate application material is available on the NBEUB website by searching Matter #552.

We offer many programs to help New Brunswickers manage their energy usage and costs by making their homes and businesses more energy efficient. This includes our Enhanced Energy Savings Program which offers free heat pumps and insulation to New Brunswickers who heat with baseboard heat or oil and have a household income of less than $70,000. You can find more information at www.saveenergynb.ca, it's a one-stop-shop for information on all efficiency programs. You can also check out programs that offer assistance with your payments and information on our Equalized Payment plans to help you budget more efficiently with equal monthly payments. 

2024/25 and 2025/26 Rate Decision

On November 8, 2024, the NBEUB issued an oral decision on our two-year General Rate Application. 

The decision approved the majority of what was requested in our application. While we are still analyzing and determining exact impacts, today’s decision will result in minor adjustments to rates and service charges for customers. Over the coming week, we’ll carefully review the information received from the NBEUB and determine how it will impact customer rates for all classes. 

It's important to note that rates are not changing at this time. Before any rate changes take effect, we will be sharing what changes customers can expect. Updated information will be posted here when ready and we will update our social media channels.