- Target:
- NB Power and the NB Energy and Utilities Board
- Region:
- Canada
NB Power is requesting a 6.4% rate hike for formal approval in November. In July of 2007, an "interim" rate hike was approved for 9.8% and applied immediately. The interim hike was later reduced to 6.4% after NB Power got an influx of cash from a settlement on the orimulsion cancellation from Venezuela.
NB Power's three primary arguments for their rate increase were losses due to the orimulsion deal falling through, rising fuel prices, and a demand from the Liberal government to "break even" in their next fiscal year.
With them getting a settlement from Venezuela, fuel prices (both raw and refined) and projected futures 20% lower than this time in 2006, and the fact that they pulled in a surplus of $21 million for last fiscal year, all three of the reasons for their request for a rate hike are now invalid.
News articles:
http://dailygleaner.canadaeast.com/front/article/87029
http://timestranscript.canadaeast.com/news/article/83265
http://www.cbc.ca/canada/new-brunswick/story/2007/08/09/nb-orimulsionsettle.html
We, the people of New Brunswick, formally request that the EUB deny NB Power its rate hike that it is requesting for approval in November.
In addition, it should have the "interim" rate hike immediately revoked and all money collected from customers during this interim period should be returned to the customers from whom it was taken.
You can further help this campaign by sponsoring it
The Energy and Utilities Board should not approve NB Power's rate increase petition to NB Power and the NB Energy and Utilities Board was written by Darren MacKenzie and is in the category Consumer Affairs at GoPetition.