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NB Power issues second quarter financial and operating results


Fredericton, N.B. – NB Power’s operating earnings were $116 million for the first six months of the 2017-2018 fiscal year. During the same period it reduced its debt by $17 million. Full details of NB Power’s quarterly financial and operating highlights are available in the report.

Operational highlights for the quarter include:

  • In August, NB Power released its 2017 Ice Storm Review Lessons Learned Report. NB Power identified areas where it can improve its operations in order to improve emergency preparedness in major weather events, following an internal and provincial review of the Ice Storm that occurred in the winter of 2017.
  • In August, NB Power commissioned two more fast-charging stations along the Trans-Canada Highway in Woodstock and Prince William giving electric vehicle drivers more options for recharging in New Brunswick, bringing to eight the number of fast charging stations in the province.
  • NB Power residential customers have saved more than $1.27 million by making small changes in their energy habits since the Home Energy Report program was launched in January of this year. Customers have saved approximately 11.8 GWh of energy since the program was introduced – enough electricity to power approximately 700 homes for a year.
  • NB Power signed an agreement to buy about 6,000 megawatt hours of power each year for the next 20 years from the Chaleur Regional Services Commission. The electricity will be produced from biogas at the Commission’s landfill operation in Allardville.
  • Owners of electrically heated homes in New Brunswick can now participate in NB Power’s Home Insulation Energy Savings Program by arranging a home energy evaluation for only $99 plus HST. Program participants who do a major insulation upgrade are now also eligible for a $500 bonus for each ductless heat pump installed.

The information provided in this quarterly report includes year-over-year financial variances for the year-to-date (April to September). The financial information contained in the report has not been audited, and it contains financial estimates that are subject to change.

MEDIA CONTACT: Marc Belliveau, Communications, (506) 458-4203 or email: