2024/25 & 2025/26 Rate Decision
On November 8th, 2024, the NBEUB issued a verbal decision on our general rate application, which was filed in December 2023. 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.
As directed in the decision, the next step is to review the decision in detail to assess its impact on rates for all customer classes and to update the Rate Schedules and Policies Manual for approval by the NBEUB. Once the NBEUB has approved the updated manual, we will publish the changes on our website, share the information on social media, and directly notify customers who have subscribed to our email updates. We appreciate our customers' continued patience as we complete this final step in setting rates for both this year and the next.
| Timeline | |
|---|---|
| General Rate Application Filed | December 15, 2023 |
| NB Power Applied for Interim Rates | January 29, 2024 |
| NBEUB Grants Interim Rates | March 15, 2024 |
| Interim Rates Begin on Customer Bills | April 1, 2024 |
| NBEUB Hearings Date | June to August 2024 |
| NBEUB Issues Decision | November 8, 2024 |
| Rate increase for 2025/26 | April 1, 2025 |
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Frequently Asked Questions
Why are rates changing?
NB Power is committed to doing everything we can to manage and reduce our own costs to help limit rate increases for customers. The money from these rate changes will be invested in reliability and grid improvements to ensure we can meet the energy needs of New Brunswickers today and into the future.
How are rates set?
NB Power is a cost-of-service utility, which means our rates must cover the costs of delivering electricity to New Brunswickers.
The rate customers pay for their electricity is determined by their rate class and reflects their class’ overall electricity usage and how much revenue is collected.
All rates must be approved by the NBEUB.
How do NB rates compare to other jurisdictions?
NB Power customers’ electricity rates are among the lowest in Atlantic Canada and north-eastern North America.
Why is there a delay in letting me know my rates?
As outlined in the Electricity Act, NB Power cannot set rates without approval by the NBEUB as the independent regulator. In the case of the verbal decision, we need to review the decision in detail to assess its impact on rates for all customer classes and to update the Rate Schedules and Policies Manual for approval by the NBEUB. We anticipate that within one week, we will submit the RSP Manual for approval. This is our highest priority and we will work to update customers as quickly as we can.
