2024/25 & 2025/26 Rate Decision
On November 8, 2024, the New Brunswick Energy and Utilities Board (NBEUB) issued a decision on NB Power’s two-year General Rate Application, filed in December 2023. The decision approved the majority of the application, resulting in minor adjustments to rates and service charges for customers.
Rate changes went into effect on April 1, 2024 and April 1, 2025.
| Customer Rate Class | Average Increase | |
|---|---|---|
| Rate Adjustments for April 1, 2024 | Rate Adjustments for April 1, 2025 | |
| Residential | 9.7% | 9.7% |
| General Service | 7.7% | 7.8% |
| Large Industrial | 9.7% | 9.7% |
| Small Industrial | 7.1% | 7.1% |
| Streetlights & Unmetered | 7.1% | 7.1% |
| Wholesale | 9.7% | 9.7% |
New Rates
| 2024/25 | 2025/26 | |
|---|---|---|
| Monthly Service Charge | Urban $26.95 Rural/Seasonal $29.57 |
Urban $29.55 Rural/Seasonal $32.43 |
| Energy Rate kWh/hour | 13.46 ¢ | 14.76 ¢ |
| Variance Account Charge (as kWh) | 0.38 ¢ | 0.41 ¢ |
Why Are Rates Changing?
As a cost-of-service utility, NB Power’s rates must reflect the actual costs of delivering electricity. Rising costs for fuel, equipment and maintenance, along with necessary investments in grid reliability and modernization, have made rate adjustments essential. While we strive to manage costs to minimize rate increases, we remain committed to delivering safe, reliable and sustainable energy to all New Brunswickers.
