You will need to dig even deeper into your wallet to power your home.
A 9.7 per cent rate hike from NB Power takes effect on Tuesday.
That is identical to the increase we saw exactly one year ago in April 2024.
You will now pay 14.76 cents per kilowatt-hour of electricity used, up from 13.46 cents.
A variance account recovery charge will add around three per cent more, or 0.41 cents per kilowatt-hour.
The charge allows the utility to recover higher-than-anticipated costs, such as lower nuclear and hydroelectric production, higher commodity prices, challenges with supply sources, and reduced export opportunities.
The monthly service charge has also increased by 9.7 per cent to $29.55 for urban customers (up from $26.95) and $32.43 for rural customers (up from $29.57).
“As a cost-of-service utility, NB Power’s rates must reflect the actual costs of delivering electricity,” the utility said on its website.
“Rising costs for fuel, equipment and maintenance, along with necessary investments in grid reliability and modernization, have made rate adjustments essential.”
The increase comes as more New Brunswickers grow frustrated with rising power bills, especially in recent months.
Premier Susan Holt has promised a review of the utility, which could include rate freezes or a sale.
