The Prime Minister of New Brunswick, Susan Holt, announced on Monday a complete examination of the electric utility in charge of the province’s debt.
Holt said that the independent examination of the Power NB belonging to Crown will be carried out by a panel of three people who will collect and analyze the data, ask for public comments and develop recommendations. All the options will be taken into account for the public service and its operations, because with energy bills for customers, “the status quo is no longer an option,” said the Prime Minister.
“The challenges to which NB Power are complex and it will take many solutions to take up them,” Holt told journalists. “We cannot continue to kick the box on the road as many previous governments have done so, a transformer change is required.”
The Minister of Energy, René Legacy, said that the exam will focus on four areas: budgetary sustainability; Governance and utility structure; customer expectations; and the attractiveness of investors and strategic partnerships.
“Competitive electricity rates are essential to support our export industries and to attract economic development and future growth,” said Legacy.
People who direct the exam will be announced later this month and are expected to present their recommendations by the end of March 2026. The part of the public’s engagement is expected to start in June.
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Legacy stressed that the examination is distinct from an in progress audit at NB Power which is linked to the tips of electricity bills. Over the past two years, bills have increased by more than 20%, because the public service is struggling with a debt of $ 5 billion.
The Liberals Directors introduced in January a 10% discount on electricity bills for residential electricity customers to provide a certain relief, but Holt said on Monday that the measure was temporary, adding that “structural affordability” is the long -term objective of the government.
As for what to do with the debt of the utility, Holt said that it was something that she expects that the exam is for. “Debt is absolutely one of the things that prevents public service from doing what it should do in terms of maintenance and affordable prices for New Brunswickers,” said the Prime Minister.
Legacy has added that for the NB power “rich in assets”, “there will always be a form of debt, the concern is what level of debt is appropriate.”
Holt refused to speculate on the question of whether a sale of the utility would be part of the exam, saying that this would be left to the independent panel.
“I don’t think there will be a miracle solution,” she added. “We believe that solutions will be complex and multiple. There are probably a lot of different things that we will have to do. ”
This Canadian press report was published for the first time on April 14, 2025.
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