NB Power is seeking two percent rate increase that would go into effect on April 1st.
NB Power estimates the rate increase would cost the average family in the province an extra $4 each month but even with the rate hike, NB Power’s residential rates would still be the lowest in the Maritimes.
The utility claims the rate hike is needed to give NB Power the flexibility to respond to unexpected events, to changing markets and technologies and to potentially invest in new sources of generation with a decision pending on the Mactaquac Hydro Generating Station.
Kevin Lacey is the Atlantic Director of the Canadian Taxpayers Federation and he calls it no surprise that NB Power is asking customers to pay 2 percent more for their power rates while the president of the company is getting a pay increase of between 50-100 thousand dollars.
