NB Energy & Utilities Board approves power rate hike

Electricity bills will go up on April 1st, but not as much as what NB Power had asked for.

The Energy and Utilities Board approved the utility's request for a rate hike yesterday.

NB Power had asked for an average increase of two per cent across all customer classes, except 2.33 per cent for residential users.

But the EUB ruled that the utility's revenue estimate of $1.726 billion was about $3.2 million too high.

That means rate hikes will be slightly lower than requested.

(with files from the Telegraph-Journal)