New Brunswick·New
N.B. Power’s CEO is hoping to see concrete solutions out of an ongoing review, but warns that the utility’s financial problems won’t be solved overnight.
CEO says the utility is looking to ongoing review for ways to temper rate increases
Savannah Awde · CBC News
· Posted: Oct 10, 2025 4:30 PM EDT | Last Updated: 1 hour ago
N.B. Power CEO Lori Clark says the utility’s financial challenges won’t be solved overnight. (Silas Brown/CBC)
Customers can expect rate increases for years to come, N.B. Power’s CEO said Friday, as the utility grapples with growing debt.
But CEO Lori Clark, appearing at a legislative committee, did not say how long those increases are expected to continue, or how much debt is expected over the next few years.
The utility announced last week it is requesting a 4.75 per cent increase to rates in 2026, and tentatively plans to increase rates by 6.5 per cent in 2027 and 6.5 per cent again in 2028.
Clark declined to say whether future rate increases would line up with the rates proposed for the next three years, or if they would land closer to the nearly 10 per cent applied in both of the last two years.
She said the $9-billion Mactaquac Dam refurbishment would not be funded entirely through borrowing, but did not say how much of that total would be added to the utility’s current $5.7-billion debt load.
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