#Public Utility Board
NB Power & The Public Utility Board

NB Power has received and reviewed the Energy and Utilities Board (EUB) report, which was submitted to the minister of energy on June 26. The review was a public process, not a full rate hearing.

The EUB report made no determination with respect to whether or not the rate increase was justified. However, the board noted that "even with the 3% increase that occurred on April 1, 2008, Disco is still forecasting a loss of $16 million for 2008/2009."

This rate increase is based on the rising costs of fuel and purchased power. The EUB did not recommend a rollback of the three per cent rate increase. Accordingly the current rates will not change.

Energy minister supports greater accountability at NB Power (08/07/24)
NB 1081

July 24, 2008

EDITOR'S NOTE: Energy Minister Jack Keir has issued the following statement in support of the introduction of 10 key performance indicators for NB Power and its executive:

Establishing benchmarks to make NB Power more accountable is in the best interest of New Brunswick ratepayers. It allows for the public to monitor and track the performance of its utility, and also encourages efficiency, productivity and transparency.

As with most other utilities nationwide, this is a challenging time for NB Power due to increasing generation and crude oil prices. I commend NB Power on its commitment to keeping rates at no more than a three per cent annual increase over the next three years, especially given the international pressures that exist today. With that in mind, we all have a role to play in energy efficiency, and I am pleased to see that NB Power will be working closely with Efficiency New Brunswick to help customers use energy more efficiently.

NB Power is also undergoing a major refurbishment project at Point Lepreau. This is a world first. It is absolutely critical that this project be delivered on time and on budget. I am very pleased to see that it is one of the key performance indicators announced today.

The announcement is also very positive in that it demonstrates increased transparency and accountability within NB Power. I very much support the board of directors reporting publicly on a quarterly basis.

NB Power has been recognized by Atlantic Business Magazine as one of the best-managed corporations in Atlantic Canada. Our utility and its management team have a terrific reputation throughout the region, and are some of the leading experts in their fields. Executives in the energy business are sought worldwide; it is a very competitive industry. Compensation and performance pay must be competitive in order to keep the best and the brightest in the industry working for New Brunswick ratepayers. I am pleased that compensation levels for the utility's senior executive team will remain consistent with those in neighbouring utilities, and the key performance indicators will help ensure that the awarding of any future bonuses will be tied to strict performance criteria."


If you are against the rate increases and tired of having the utility raise the rates, Then PLEASE sign this petition.

After this petition is closed, It will be forwarded to the utility board and to the prime minister. WE HAVE to step up and say ENOUGH IS ENOUGH. There should be a cap on what the utility can set the rates at.

So have your opinion heard.

The People against ever rising power increases petition to NB Power & The Public Utility Board was written by Phillip Davis and is in the category Miscellaneous at GoPetition.