NB Power under review for the next year, decisions about utility’s future due March 2026

A review of NB Power will begin by the end of April.

An independent review of NB Power will begin later this month and continue for a year, as utility bills continue to rise steeply around the province.

New Brunswick Premier Susan Holt said the review would lead to recommendations and decisions about NB Power’s future before the end of March 2026.

“We have been listening to New Brunswickers for many months, and we have been hearing their worries, frustrations, and concerns about raising power bills,” said Holt, who formally announced the review in Fredericton on Monday.

As part of the review, Holt said public consultations would begin in June and run into the fall with an interim report about the review’s findings to be released before the end of the year.

Holt said the review would be led by a three-person panel, who haven’t yet been named, and include an open-mic format.

“This review will be independent and at arms-length from government to ensure that we get the right options and solutions from the process,” said Holt.

“We know there won’t be one easy fix to this problem.”

According to the provincial government, the NB Power review will focus on:

• financial sustainability
• governance and utility structure
• customer expectations
• investor attractiveness and strategic partnerships

Previously, Holt has indicated “everything is on the table” for addressing NB Power’s rising debt and monthly customer bills – including a full or partial sale of the utility. Holt also said other possibilities included the provincial government taking on NB Power’s $5-billion debt, and freezing rates.

“We have studied this thing to death”

Right now, an ongoing internal audit of NB Power is examining the use of smart metres and power bills. That review began in January and was supposed to be finished in February, but is now expected sometime this month.

Progressive Conservative MLA Kris Austin said the addition of another review would only allow the provincial government to delay decisions about NB Power’s future for the next year.

“I don’t think we’re going to see any more information than what we already know,” said Austin. “Those tough decisions are still going to have to be made, so I don’t know what is going to come out of this. I don’t see a whole lot of benefit, frankly. Because again, we have studied this thing to death.”

Green Party Leader David Coon said not knowing who will lead the review was one of his worries.

“Will this panel be unbiased in terms of the direction NB Power should take, or will they have a particular stake in the game? Without announcing who they are it’s impossible to conclude that,” said Coon.

Holt said the individuals chosen would be “putting their own names and reputations on the line,” adding the panel would be accessible to the public throughout the entire process.

In a statement Monday, NB Power CEO Lori Clark said the review was “a good chance to look at the challenges and find better ways to deal with them.”

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