A new provincial review of NB Power is warning that electricity rates in New Brunswick are likely to continue rising, as the utility faces mounting financial and infrastructure challenges.
Hear the audio below:
The NB Power Comprehensive Review, launched by the provincial government in April 2025 and released end of March 2026, examined the Crown corporation’s finances, operations, and long-term sustainability over a roughly year-long process.
The report points to several key pressures driving future costs, including increasing electricity demand, aging infrastructure, and the need for major investments in new generation and transmission systems.
It also highlights structural challenges within the utility, including a high debt load and ongoing concerns around governance and long-term planning.
In response, the review lays out approximately 50 recommendations aimed at improving oversight, strengthening financial stability, and better positioning NB Power to respond to future energy needs.
The findings come as NB Power is already under scrutiny over proposed projects, including a gas and diesel plant on the Chignecto Isthmus, and a recent request for a 4.75% rate increase that was denied by the Energy and Utilities Board.
While the review does not propose immediate changes to rates, it suggests that upward pressure on electricity costs is likely to persist in the years ahead.
The report’s overall message is that there is no quick fixes or simple solutions. The review affirms addressing the utility’s challenges will require long-term planning, investment, and trade-offs between affordability, reliability, and sustainability.
