NB Power considers options for long-term energy supply plan

NB Power Integrated Resource Plan guides 25-year electricity planning, renewable energy targets, customer engagement workshops, stable rates, regulatory review by the Energy and Utilities Board, and updates for technology, demand shifts, and fuel pricing.

FREDERICTON GNB – NB Power is seeking input into the development of a long-term electricity supply plan for New Brunswick beginning with a workshop in Fredericton.

Individuals representing the spectrum of NB Power's customer base – including residential, small business and industrial, non-profit sectors and municipalities – have been invited.

"We are excited to hear from our customers about how we can plan for the future together," said Gaëtan Thomas, president and chief executive officer of NB Power. "We value the partnership we have developed with our customers and look forward to this, the first of many opportunities to speak with them face to face about the challenges and opportunities that lie ahead."

Information gathered at the workshop will help inform NB Power's Integrated Resource Plan, a strategic planning document that:

— will identify how the utility can meet projected customer demand for electricity during the next 25 years and

— achieve a minimum of 40 per cent from renewable sources of energy while

— respecting its mandate to provide reliable, accessible service at low and stable rates for customers.

The Integrated Resource Plan process is a long-term planning tool that is standard across utilities. While the plan is forecast for 25 years, NB Power regularly updates it to reflect new technology, changes in customer demand and accurate fuel pricing.

The Electricity Act requires NB Power to submit an Integrated Resource Plan to the Energy and Utilities Board at least once every three years. The board will consider the plan along with the 10-year strategic, financial and capital investment plan and other considerations in approving or fixing rates. Each iteration of the plan will involve input from the utility's customers.

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