NB Power’s worst quarter of last three years

Low hydropower production, problems at the Point Lepreau Nuclear Generating Station and meager sales outside the province limited the New Brunswick Power Company’s profits to $4 million in April, May and June. It was the companies worst quarter in three years.

The Liberal Party is still delivering on its promise to freeze electricity rates for four years if its candidates win the election.

The Liberals believe that consumers deserve a break and that NB Power can better manage its expenses and revenues to freeze its rates, says Jonathan Tower, spokesman for the Liberal Party, in an email sent to CBC on Tuesday.

Low hydropower production, problems at the Point Lepreau Nuclear Generating Station and meager sales outside the province limited the New Brunswick Power Company’s profits to $ 4 million in April, May and June. It was his worst quarter in three years.

The Liberal Party is still delivering on its promise to freeze electricity rates for four years if its candidates win the election.

The Liberals believe that consumers deserve a break and that NB Power can better manage its expenses and revenues to freeze its rates, says Jonathan Tower, spokesman for the Liberal Party, in an email sent to Spruce Tribune on Tuesday.

Hydropower generation therefore generated $ 18 million less than budgeted in the first quarter.

Nuclear power generation was also lower than expected. The Point Lepreau Generating Station was scheduled to be shut down for 35 days in the spring for maintenance work, but these lasted for 53 days. It cost millions of dollars.

The prolonged shutdown of Point Lepreau and the production of hydroelectric dams contributed to lower energy sales outside the province. They were $ 17 million less than last year.

NB Power remains silent

The Crown Corporation did not comment on its financial results on Tuesday, and it did not issue a press release to announce them as it had done since the beginning of its quarterly reports, in 2011.

Her $ 4 million spring profit is likely to be disappointing for her.

NB Power had not announced the profits it hoped to achieve in the first quarter, but in recent years it has had targets as high as $ 43 million.

The Crown Corporation also did not comment on the Liberals’ promise to freeze its rates for four years, but management expresses a concern in a note distributed to employees and obtained by CBC.

The note was distributed shortly after Liberal leader Brian Gallant made that promise.

There have been several announcements in the media about NB Power, says the note. She said management does not comment because of the current elections. She says she understands that these ads can distract employees, and she advises them to focus on their work.

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