NB Power files rate application

New Brunswick Power filed a rate application with the Energy and Utilities Board on Wednesday.

If approved, the application is intended to help provide quality customer service, modernize the power grid and service the company's debt obligations.

The province says the average rate increase across al rate classes in the application is for 2.5%, while the utility has requested an increase of 2.9% for residential customers.

The government says the residential increase amounts to an extra $5 a month for the average household in the province.

According to Wednesday's press release, if the Energy and Utilities Board approves the application, energy rates in New Brunswick would remain the lowest in the Maritime provinces.

The Energy and Utilities Board will set the schedule for a rate hearing in the coming weeks.