Premier Susan Holt has announced a comprehensive public consultation process regarding the future of N.B. Power, the provincial utility facing significant financial challenges. This initiative aims to engage New Brunswickers in discussions about the utility’s future, ensuring that their voices are heard as the government navigates options for addressing the utility's $5 billion debt and rising power rates.
Holt emphasized the importance of an "open and transparent" review process, stating, "We need a solution that is acceptable to New Brunswickers... which means we need a process that is open and transparent, that is engaging and involves New Brunswickers every step of the way so that their voice is in the process." This approach comes in the wake of a controversial 2009 decision by the previous Liberal government, led by Shawn Graham, to sell N.B. Power to Hydro-Québec for $4.8 billion—a deal that ultimately collapsed due to public backlash.
In light of the utility's ongoing struggles, including a recent announcement that its Point Lepreau nuclear plant was back online after repairs, Holt is keen to avoid repeating past mistakes. The plant's shutdown had cost the utility approximately $900,000 daily in replacement electricity. With another rate hike of 9.7% set for April 1, 2025, Holt's administration faces mounting pressure from ratepayers who are already frustrated by previous increases.
Green Party Leader David Coon has been vocal about his concerns, urging Holt to rule out the privatization of N.B. Power altogether. "We've been down this road before with Shawn Graham, and we know where the people of the province stand. They want N.B. Power to remain their power company," Coon stated during a recent legislative session. He further called for a special committee to oversee consultations, emphasizing that any decision regarding the utility's future should involve direct input from the public.
Holt, however, has refrained from committing to any particular course of action regarding privatization, asserting that it is too early to make such decisions. "Maybe a sale isn’t the best option, so we shouldn’t pursue it. Maybe it will be the best option, but will we be able to find someone who wants to buy it?" she remarked, highlighting the complexities of the situation.
As the government prepares to roll out its public consultation process, details are expected to be announced in the coming weeks. Holt indicated that the consultations will span the province, allowing residents to express their ideas, concerns, and suggestions regarding N.B. Power. “It’s essential that New Brunswickers are able to express themselves on what they want to see from N.B. Power – their suggestions, their ideas, their worries and anxieties,” she said.
The necessity for public involvement has been echoed by opposition leaders, with Coon reiterating that a referendum should be held if the government considers selling the utility. "I don’t see how the government could make a decision about selling such an important public asset as our electrical utility without hearing from the people of the province directly," he asserted.
Interim Progressive Conservative Leader Glen Savoie has also called for transparency in the decision-making process, insisting that the public must have faith in whatever solution is ultimately proposed. He too suggested that a referendum might be necessary, especially if a sale is on the table. “We do have low power rates compared to some other jurisdictions, but will that change if we sell N.B. Power?” Savoie questioned, underscoring the need for clarity on how any changes might impact consumers.
Amid these discussions, an independent third-party audit of N.B. Power’s billing and metering systems is currently underway, prompted by complaints regarding soaring power bills earlier this year. The audit is expected to conclude next month and may shed light on the utility's operational issues.
As the situation evolves, Holt’s government faces a delicate balancing act: addressing the financial realities of N.B. Power while ensuring that the public remains engaged and informed. By committing to a transparent consultation process, Holt aims to rebuild trust with New Brunswickers and ensure that any decisions made reflect the will of the people.
In summary, the upcoming consultations on N.B. Power's future represent a significant opportunity for public engagement in a matter that directly affects the lives of New Brunswick residents. With rising electricity costs and the looming threat of privatization, the stakes are high, and the government's approach will be closely monitored by both supporters and critics alike.
