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The province announced the review in April, saying it will include the utility's financial sustainability and its attractiveness to investors.

Premier Susan Holt has said the status quo is not acceptable at NB Power, which is struggling with a $5-billion debt and rates that have increased more than 20 per cent in two years.

Energy Minister René Legacy told reporters Friday the next step in the process is a public engagement where residents will have a chance to give their opinion on what is needed to improve NB Power.

The mandate for the review is to ensure NB Power rates remain low, service is reliable and the utility is able to transition to clean energy in the future, he said.

"The New Brunswick that we have today is not going to be the New Brunswick that we're going to have in 25 years. So how do we prepare NB power for that?" 

Holt has refused to speculate on whether a sale of the utility would be part of the review. 

But in reply to a question whether the team will also consider options about the sale of the utility, Legacy said the issue will be discussed if it is brought up during the public engagement process. 

"If that's what New Brunswickers want to discuss, then we should have an open discussion about it and actually put the subject to bed one way or the other," he said. 

"It doesn't mean that we've precluded that we want to do one thing or another or push us to a certain path. That's what the (team is) going to be reviewing and exploring."

Final recommendations from the review panel are expected by the end of March 2026, he said.

Hawthorne, who was the chief executive officer of Bruce Power in Ontario, said New Brunswick's utility is facing challenges similar to others where it has to keep rates low and stable while transitioning to emission-free energy in the future.

"The next 25 years, we would all hope that New Brunswick has actually led the way in a number of things rather than been drawn along by them."

Every province and city and its associated utility has its own challenges, he noted. 

The point of the review, he said is to make sure NB Power is "fit for the future."

"Nothing's off the table. Nothing is preconditioned at this point in time. And the facts and our expertise will lead us in a path. We'll discuss those. We will listen to others widely and formulate a set of recommendations all things being considered."

Bertrand, who was the director of the New Brunswick Power Corporation from 2018 to 2024, said the review is a way to develop future strategies by understanding issues faced by the utility.

The team has an "unrestricted" mandate where they will be looking at the utility from all aspects and listen to people's viewpoints closely, said Bernstein, who has experience working in the infrastructure and utilities sector.

NB Power said it welcomed the review because it gives an opportunity to take a closer look at the challenges facing the utility, and exploring ways to address them.

"These issues are complex, but we believe smart, long-term solutions are within reach," spokeswoman Dominique Couture said in a statement.

"We are encouraged by the naming of respected experts to lead this work and have confidence in their ability to help guide meaningful, practical outcomes."

The total cost of the team could be upwards of $600,000 annually, including compensation for the three members and possible travel expenses and taxes. 

This report by ¹ú²úÓÕ»ó¸£Àû was first published May 23, 2025.