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NB Power seeks to withdraw rate adjustment mechanism from rate application

NB Power is seeking permission from the New Brunswick Energy Utilities Board to withdraw an adjustment mechanism for significant weather events from its 2018/19 general rate application.

If approved, the provincially-owned electric utility will explore all options available for recovering those costs and enter into discussions with stakeholders, according to a March 23 release.

"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 and CEO. "We recognize that our customers are uncomfortable with the uncertainty an adjustment mechanism may create."