NB Power has filed a ten year plan with the Energy and Utilities Board on which it calls the future of the utility “bright”. It includes yearly rate increase of 2 per cent through 2022 and then 1 per cent increases in 2023, 2024 and 2025.
Any generation of electricity from Mactaquac Dam will end by 2030 and it will cost a minimum of 2 billion dollars to replace that lost power.
NB Power has entered into a multi year agreement with Siemans to modernise the province’s electrical system. That means consumers can also look forward to using such things as smart communicating thermostats and smart energy appliances.
The utility also wants to reduce its debt by 2021 to the tune of a billion dollars and is committing itself to encoraging the development of locally owned, small scale renewable energy projects.