NB Power has officially released its 2025/26 Annual Report, shedding light on the utility’s financial health, infrastructure upgrades, and the ongoing challenges of powering New Brunswick. For businesses and residents in Saint John, understanding these developments is crucial as energy demands and costs continue to shape the local economy.

Financial Highlights and Debt Management

The latest report reveals that NB Power achieved net earnings of $13 million for the fiscal year ending March 31, 2026, falling just short of its $14 million target. A significant talking point for commercial customers is the utility’s net debt, which has increased to $6.05 billion. This rise is primarily driven by necessary capital investments in infrastructure and grid modernization.

Despite the growing debt, NB Power successfully improved its debt-to-equity ratio from 92.4 per cent to 92.3 per cent. According to the utility, this aligns with the provincial mandate to strengthen its capital structure rather than solely focusing on debt reduction. Furthermore, the crown corporation delivered approximately $65.9 million in cost optimization savings to help mitigate pressure on customer bills.

Grid Modernization and Infrastructure

A major milestone highlighted in the 2025/26 Annual Report is the completion of the smart meter deployment. Approximately 369,000 customers are now equipped with smart meters, providing greater visibility into energy consumption and paving the way for a modernized electricity system.

Lori Clark, President and CEO of NB Power, emphasized the importance of these upgrades. “New Brunswickers rely on electricity every day, and our responsibility is to ensure the system remains reliable, affordable and ready for the future,” Clark stated. The utility continues to invest heavily in transmission, distribution, and generation infrastructure to maintain reliability across the province.

Navigating Operational Challenges

The past year was not without its hurdles. NB Power faced several operational pressures, including lower-than-average hydro generation, escalating operating costs, and extreme weather events. Coupled with a growing demand for electricity, these factors underscore the critical need for long-term planning and strategic investments to secure New Brunswick’s energy future.

Frequently Asked Questions

What were NB Power’s net earnings for 2025/26?

NB Power reported net earnings of $13 million for the fiscal year ending March 31, 2026, slightly below their target of $14 million.

Why did NB Power’s debt increase?

The net debt increased to $6.05 billion largely due to significant capital investments in infrastructure and grid modernization. However, the utility did improve its debt-to-equity ratio to 92.3 per cent.

How many smart meters were deployed?

NB Power successfully completed its smart meter deployment, reaching approximately 369,000 customers across the province.

Where can I read the full report?

You can view the complete details by visiting the Annual and Quarterly Reports section on NB Power’s official website.