N.B. Power is hoping to raise its rates 17.4 per cent over the next three years, beginning with a 5.5 per cent increase next April, to cope with a variety of looming problems.
Increases would begin with a 5.5 per cent jump in April if regulators agree
Robert Jones · CBC News
· Posted: Oct 07, 2026 3:50 PM EDT | Last Updated: 3 hours ago
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Higher rates can’t be avoided, says N.B. Power president Lori Clark. (Shane Fowler/CBC)
N.B. Power is hoping to raise its rates 17.4 per cent over the next three years, beginning with a 5.5 per cent increase next April the utility has announced.
The requested amount is more than the rate of inflation, but the money is needed to cope with a variety of looming problems, according to the company, especially with its deteriorating generation and distribution assets.
“Investments are required to maintain and replace aging infrastructure across the electricity system,” N.B. Power said in a package explaining its need for more money.
N.B. Power president Lori Clark told reporters higher rates cannot be avoided.
“There’s a lot of discussion about N.B.
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