NB Power rate hike decision set over
Energy and Utilities Board could take up to 60 days to rule on proposed 2% increase
New Brunswick's Energy and Utilities Board has reserved decision on NB Power's application to raise electricity rates by two per cent.
It could take the five members of EUB up to 60 days to make a decision, officials said.
NB Power's application had asked for the hike to take effect on July 1.
"We are sensitive to the arguments that economic conditions in New Brunswick do not permit a rate increase," NB Power lawyer John Furey said on Monday.
But he argued the two per cent-increase is appropriate, will provide for stability, and prevent unpredictable, larger increases in the future.
The province's public intervener filed expert evidence ahead of the hearings, which urged the board to deny NB Power's request.
This was the first public hearing in eight years for NB Power. The Crown corporation has recently raised electricity rates without the added scrutiny.