NB Power posts year-end financials, annual report03 August 2018
FREDERICTON (GNB) – NB Power released its 2017-18 annual report today, recording earnings of $23 million in fiscal 2017/18.
Some of the year’s highlights included investments of $100 million in strengthening the province’s transmission system, in addition, to reducing its debt by $133 million. NB Power’s investment in maintenance and reliability are showing positive results with Point Lepreau recording its best operational and performance results since 1994, with net electrical production of 5.16TWh (Terawatt Hours) of low carbon electricity. One Terawatt hour is the equivalent of 1 Million Megawatt hours, producing enough non-emitting electricity to power more than 333,000 homes per year.
The annual report is available online.
NB Power also broadened its efficiency programs during the fiscal year to encompass all heating fuels, and it expanded its Electric Vehicle charging programs in partnership with the federal and provincial governments to 19 new stations around the province.
NB Power continues to make investments in Smart Grid and Smart Solutions to help customers save energy, while keeping rates competitive and the energy system reliable for a cleaner energy future. In addition, the utility was able to achieve $12.5 million in savings led by employee-driven continuous improvement and $6 million in savings through regional co-operation measures with other utilities.