N.B. Power seeking rate increase

NB Power is applying for a rate hike.

The New Brunswick Energy & Utilities Board says the utility is asking to increase residential rates by 2.5 per cent and rates for general service and small industrial customers by 1.7 per cent.

A media release from the EUB on Monday says NB Power is also seeking approval to create a Regulatory Deferral Account with respect to certain Demand Side Management expenses and other relief.

A meeting on the matter will be held in Fredericton next Thursday followed by a  public hearing from May 21 to 31.  

Members of the public wishing to attend and provide comment must register with the board before Friday.