NB Power releases financial results for first quarter 2021/22

2021-08-31

FREDERICTON, N.B. – NB Power reported today its financial results for the first quarter of fiscal year 2021/22, showing that it had recorded operating earnings of $54 million for the three-month period ended June 30, 2021, an increase of $1 million compared to the same period last year. NB Power’s debt increased by $3 million over the first quarter.

The First Quarter report can be found here.

“NB Power saw mixed results in the first quarter, challenged particularly with the unplanned outage at Point Lepreau Nuclear Generating Station,” said Keith Cronkhite, NB Power President and CEO. “We recognize the need for significant change at NB Power if we are to improve our performance over the long-term.”

During the quarter, NB Power saw indications of post-pandemic recovery including economic conditions that were similar to pre-pandemic conditions. NB Power was also encouraged to see interest in its efficiency services return to pre-pandemic levels, such as interest in the Business Rebate Program.

While the province and the people of New Brunswick continue to recover from the financial challenges experienced during the pandemic, NB Power remains committed to serving and supporting customers through this difficult time. NB Power reminds customers having difficulty paying their bills to reach out to NB Power for assistance at www.nbpower.com or by calling 1 866 331-8133.

MEDIA CONTACT:  Marc Belliveau, Communications, (506) 238-3273 or mbelliveau@nbpower.com