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New Brunswick Liberals make pledge of four-year freeze on power rates

New Brunswick Liberals make pledge of four-year freeze on power rates
Politics
FREDERICTON - New Brunswick Liberal Premier Brian Gallant is vowing to legislate a four-year freeze of NB Power rates for residential and small business customers if his government is re-elected next month.

Gallant says many people s power bills are going up faster than their wages, so freezing power rates and raising the minimum wage to $14 per hour will create a fairer economy.

Making the announcement in Moncton, Gallant said the Crown-owned utility will be obligated to undertake measures to increase efficiency, and will be prevented from imposing any kind of weather tax to help pay for extreme events such as major winter storms.

NB Power has been forecasting annual power rate increases of two per cent.

Under the Liberal plan, NB Power will be required to undertake a review of executive management salaries and reduce the size of executive management by 30 per cent.
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