NB Power Seeks Permission from Regulator to Withdraw Request for a Rate Adjustment Mechanism Related to Significant Weather Events
Fredericton, N.B. – Today, NB Power submitted a request to the New Brunswick Energy Utilities Board (EUB) to withdraw the portion of NB Power’s 2018/19 General Rate Application related to an adjustment mechanism for significant weather events.
The concept of an adjustment mechanism was first raised during the 2017/18 General Rate Application when an expert advisor to the Public Intervener proposed that NB Power adopt an adjustment mechanism.
“NB Power has heard from our shareholder and our customers who are anxious about the impact of the adjustment mechanism and we are listening to those concerns,” said Gaëtan Thomas, NB Power President & CEO. “We recognize that our customers are uncomfortable with the uncertainty an adjustment mechanism may create.”
NB Power’s Board of Directors has asked management to respectfully seek permission from the EUB to withdraw this adjustment mechanism request in order to explore all options available for recovering these costs and to engage stakeholders in discussions on the matter.
MEDIA CONTACT: Marie-Andrée Bolduc, NB Power Communications, firstname.lastname@example.org, 506-458-3212.