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New Brunswick Utility Is Proposing Rate Hikes over Next Three Years
The utility says the plan would add $13.25 a month for a typical home and help cover aging infrastructure costs.
- On Wednesday, Oct. 7, 2026, in Fredericton, Power utility executives announced a proposal for 5.5% annual rate hikes over three years, marking the utility's first multi-year rate application.
- Executives stated the increases are necessary to maintain and modernize an aging system. An independent review earlier this year detailed the utility's struggle with infrastructure challenges and a $6 billion debt.
- For a home using 1,350 kilowatt hours, the proposal estimates a monthly increase of $13.25. Last year, the utility proposed a 4.75% increase, with the board approving 4.29% for the current fiscal year.
- The New Brunswick regulator must approve the new rates before they take effect. If approved, the increases could come into force next April, potentially pushing local electricity costs higher than other provinces.
- Officials noted that while the plan slows the growth of the debt, it does not decrease the total amount. The submission aims to provide long-term stability rather than immediate financial reduction.
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For the first time, NB Power is planning electricity rate increases of 5.5% per year for all its customer classes for the next three years. If they are expected to increase by...
Coverage Details
Total News Sources8
Leaning Left4Leaning Right0Center2Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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