NB Power is asking for another rate increase after two years of major hikes and growing frustration from customers.
The utility is seeking an increase of 4.75 per cent from the province’s Energy and Utilities Board beginning April 2026. That would average about $10.90 per month for customers.
“Rate increases have been very low, in fact lower than the consumer price index, lower than inflation, and as a result, we need to make infrastructure investments in our system,” said Lori Clark, NB Power’s president and CEO.
She says among the reasons for the latest increase is the rising population, aging infrastructure and growing debt. She adds that rate increases are a “last resort.”
But the Crown corporation has raised rates every year since 2013 — except during the COVID-19 pandemic in 2020.
This particular request is on the heels of two years of increases of more than nine per cent.
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“We will leave no stone unturned as we look for opportunities to reduce cost, improve efficiencies in our organization,” said Clark.
But local advocacy group, New Brunswick ACORN, says it’s all too much for customers — amid increasing financial pressures.
“People are at a breaking point, it’s just outrageous,” said the group’s chair, Nichola Taylor.
“They need to do something else about this instead of passing these kind of costs onto consumers. Something has to give here. Some help is needed to help people in New Brunswick to be able to pay those energy bills.”
The utility is projecting increases of 6.5 per cent for the two years following this application.
This particular application, which was filed on Wednesday, is only for one year — in part due to the province’s review of the Crown corporation.
“We do know the status quo is not an option, and we do see rate increases in the future, so this review will help us determine whether or not the rate increases are appropriate,” said Clark.
The board hearing should take place in early 2026, with a decision by the end of next winter.
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