NB Power

What NB Power does

NB Power is a Crown corporation wholly owned by the Province of New Brunswick and the primary electricity utility in the Canadian province. It generates, transmits, and distributes electricity to residential, commercial, industrial, and large enterprise customers across New Brunswick under rate regulation by the New Brunswick Energy and Utilities Board. The utility's core portfolio includes the proposed 500 MW Tantramar natural gas and diesel plant (scheduled for August 2028 commissioning under a 25-year operations contract with ProEnergy), battery storage integration, wind and solar generation assets, and a solar net metering program that has grown from 465 customers in 2023 to over 2,100 in 2026.

Revenue is generated through regulated monthly electricity sales to all customer segments at rates set by the Energy and Utilities Board, supplemented by interprovincial wholesale power sales — notably a 10-year agreement to supply 100 MW to Nova Scotia's energy operator from the Tantramar facility. Distribution is direct via owned grid infrastructure; the utility operates as a statutory monopoly within the province. Recent strategic activity centers on capacity expansion to address a projected 600 MW shortfall by 2030, governance restructuring recommendations (including a consumer advocate role and consideration of public-private corporate structure), and changes to distributed energy compensation frameworks for solar customers.

The business is confronting material structural pressure: significant accumulated debt attributed to historical rate freezes, an active push by large industrial customers led by J.D. Irving Ltd. to exit the grid under proposed Electricity Act amendments, and an auditor general report critical of governance shortcuts on the Tantramar procurement that exposed the corporation to up to US$55.1 million in penalties. Leadership includes Lori Clark as President and CEO, Darren Murphy as CFO and SVP Corporate Services, and Brett Plummer as VP Nuclear and Chief Nuclear Officer.

Name

NB Power

Legal name

NB Power / Énergie NB Power

Website

https://nbpower.com

Company type

Private

Founded year

1920

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

NB Power is New Brunswick's Crown corporation electricity utility, generating, transmitting, and distributing power to residential, commercial, industrial, and wholesale customers under regulated rates, with a major 500 MW gas plant expansion underway for 2028.

Ownership category

akta.pro rank

Product category

Electric Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Nuclear Electric Power Generation (221113), Electric Power Generation (22111), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Public Power Districts & State/Provincial Utilities (EUADABAD)

akta.pro secondary industries

Open-Cycle Gas Turbine (OCGT) / Peaker Generation (EUACABAB), Electric Distribution System Owners (Wires-Only Companies) (EUADABAI)

Keywords

• Electric utility services
• Electricity generation
• Power distribution
• Renewable energy
• Grid infrastructure

Headquarters

HQ city

Fredericton

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Others

Revenue model

1. Electricity Sales: NB Power generates revenue primarily through the sale of electricity to residential, commercial, industrial, and large enterprise customers across New Brunswick. Electricity rates are regulated and set by the New Brunswick Energy and Utilities Board. The Crown corporation also earns revenue from selling power to other jurisdictions (e.g., 100 MW to Nova Scotia).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

NB Power is the primary electrical utility in the Canadian province of New Brunswick, generating, transmitting, and distributing electricity to residential, commercial, industrial, and enterprise customers. As a Crown corporation, the utility also sells power interprovincially (e.g., 100 MW to Nova Scotia's energy operator under a 10-year agreement) and operates a Solar Net Metering Program serving over 2,100 customers. Electricity rates are regulated by the New Brunswick Energy and Utilities Board and billed on a monthly cycle.

Product overview

NB Power is New Brunswick's Crown corporation utility providing electricity generation and distribution services. The company's core product portfolio includes the proposed 500-megawatt Tantramar Gas Plant (RIGS), a solar net metering program serving over 2,100 customers, and battery storage integration with renewable generation. The utility operates under a 25-year contract with ProEnergy for the gas plant and is subject to ongoing regulatory oversight by the New Brunswick Energy and Utilities Board.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Generation and Distribution Service

Quantifiable outcome

• 500 MW of new generation capacity to address immediate power shortfall and prepare for 600 MW shortfall by 2030
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• ProEnergycoreStrategic or Co-development Partner · 1 May 2026Missouri-based U.S. firm ProEnergy contracted to install 10 combustion turbines and operate the 500-megawatt Tantramar gas plant for 25 years. NB Power signed a deal with ProEnergy before receiving regulatory approval, exposing the corporation to up to US$55.1 million in potential penalties. The plant is targeted to be operational by August 2028.
• Nova Scotia Energy OperatorcoreStrategic or Co-development Partner · 1 May 2026Nova Scotia's energy operator signed a 10-year agreement to purchase 100 megawatts from NB Power's proposed Tantramar gas plant, providing revenue certainty and regional energy cooperation between Maritime provinces.
• J.D. Irving Ltd.minorChannel Partner/ Reseller/ Distributor · 1 January 2025J.D. Irving is seeking amendments to the Electricity Act to exit the NB Power grid and generate its own renewable electricity. The company has already signed a deal for NB Power to buy power from its Brighton Mountain wind farm, representing a reversal of the traditional customer relationship.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Nova Scotia Power: Vertically integrated electric utility serving the neighboring Maritime province of Nova Scotia. Direct counterpart on interprovincial trade (NB Power's 100 MW, 10-year offtake), and operates the same regulated utility model with a similar customer mix of residential, commercial, and industrial load.
• Hydro-Québec: Québec provincial Crown corporation and one of North America's largest vertically integrated utilities. Comparable in governance (provincial Crown), scale (multi-million customers), generation mix (large hydro plus wind/solar/gas), and interprovincial export model via long-term contracts.
• BC Hydro: British Columbia's provincial Crown utility with a similar generation profile (large hydro baseload plus thermal peakers and renewables) and a regulated monopoly distribution franchise. Faces the same political-interference and debt-burden dynamics as NB Power.
• Manitoba Hydro: Crown corporation of the Province of Manitoba with a hydro-led generation portfolio and interprovincial/interstate export contracts. Closely comparable structure to NB Power as a provincial Crown utility serving a relatively small population with a large generation asset base.
• Ontario Power Generation: Ontario's provincial Crown generator operating nuclear, hydro, and natural gas assets. Comparable in operating nuclear and hydro baseload plus gas/renewables integration, and is also exploring battery and grid-scale renewable integration similar to NB Power's Tantramar design.
• Hydro One: Ontario's regulated transmission and distribution utility with a partially provincial government ownership structure. Comparable on the regulated wires business model, including rate-setting by an Ontario Energy Board analogue to New Brunswick's Energy and Utilities Board.
• SaskPower: Crown corporation owned by the Province of Saskatchewan providing generation, transmission, and distribution. Closely comparable in scale, governance, and the challenge of integrating renewables and gas into a small-province regulated utility.
• Newfoundland and Labrador Hydro: Crown corporation of Newfoundland and Labrador operating hydro, diesel, and gas generation. Highly comparable in governance (provincial Crown), reliance on hydro plus thermal backstop, and exposure to small-market rate-base challenges.

Regional players

• Maritime Electric: Privately held regulated utility serving Prince Edward Island. Comparable in Maritime regional context, regulated utility model, and customer mix, though smaller scale and PEI-only service territory.

Others

• Énergir: Québec's regulated natural gas distributor (formerly Gaz Métro). Thematically adjacent as a Canadian regulated utility and a potential off-taker of natural gas produced or procured by NB Power, though not a direct competitor in electricity.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/nb_power

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NB Power