Energy regulator reforms pitched
The New Brunswick government is pitching a series of reforms designed to toughen up the province's energy regulator.
Energy Minister Jack Keir released an options paper on Tuesday in Saint John that would overhaul the rules and the powers given to the Energy and Utilities Board, which was established in 2006.
The energy minister said people are being asked whether the regulator should scrutinize all large capital expenses and projects NB Power proposes.
"They would have to define to the EUB what the capital cost would be and what they believe the impact is going to be to ratepayers of New Brunswick and get that approval up front," Keir said.
"If the EUB says no, we don't believe it's in the best interest of ratepayers in New Brunswick to do that, it won't get done."
The Public Utilities Board, the regulatory body that pre-dated the EUB, once held meetings into major investment projects, such as the refurbishment of the Point Lepreau nuclear reactor and the upgrades at the Coleson Cove Generating Station.
The discussion document incorporated several other ideas, such as requiring NB Power to appear before the EUB each time it wants to increase its power rates. The existing law forces the Crown corporation to show up to defend rate hikes of three per cent or higher.
This idea is not new, however. A consultant's report paid for by the Department of Energy and a restructuring report authored by NB Power also recommended the same proposal.
The new recommendations for the regulator are outlined in an options paper people can access online. As well, Bernard LeBlanc, the recently appointed minister responsible for public engagement, has been asked to help gauge the public's interest in these reforms.
Keir also announced the provincial government was giving Propel ICT $100,000 to follow up on a "smart grid" summit held by the Department of Energy in April.
The energy minister said the provincial government will bring forward legislative changes in the fall. A provincial election is scheduled for Sept. 27.