by John Chilibeck, Local Journalism Initiative Reporter. Source: Telegraph-Journal
March 9, 2026
EUB Chair Christopher Stewart
NB Power won’t be allowed to impose a steep interim rate hike to electricity prices on April 1 in spite of its warning that the money is needed to avoid long-term financial risks.
The New Brunswick Energy and Utilities Board (EUB) rejected the stopgap request for a 4.75% increase Monday morning as the first order of business at a hearing in Fredericton to decide if the rate should rise sometime later this year.
“The motion is denied,” EUB Chair Christopher Stewart said. “The board has held that it should exercise its discretion to grant such relief requests only in exceptional circumstances.”
The board also dismissed NB Power’s plea to impose a special charge, or rate rider, on the bills of more than 400,000 customers, both residential and commercial, dating back to April 1 if it eventually gets the green light to raise prices later in 2026.
The decision does not mean prices won’t go up. With the timing of the hearing, it’s more likely now that any changes to bills for all customer classes won’t happen till June or July, giving them a temporary reprieve.
Stewart said that while it was true his three-member panel wouldn’t decide on rates for several months, the Crown corporation had only itself to blame for the big delay.
After NB Power failed to persuade the EUB last fall that it did not require its approval for the gas/diesel plant, it asked for the hearings on the project to be held in February. That delayed the hearings on its application to raise rates.
NB Power gave priority to the gas plant hearings because it said it had signed a contract with the U.S. company PROENERGY to build and run the new facility with specific deadlines.
Its contract for the project originally stated that regulatory approval was needed by April 1 and if that didn’t happen the American company could walk away from the deal.
NB Power’s lawyer Leanne Murray said last week in a special hearing that it was like making a choice “between your children.” But the board chair said that wasn’t enough to convince the panel that the proposed gas plant was a bigger priority than the general rate application.
Stewart pointed out that NB Power had made a business decision to sign a contract with an April 1 cutoff. He suggested the public utility had only itself to blame for running out of time and asking to switch the hearing dates.
This story was written by Local Journalism Initiative Reporter John Chilibeck of Brunswick News with files from Bruce Wark.
