Ensuring Access to Affordable, Reliable and Clean Electricity in New Brunswick
December 10, 2024
The federal government announced over $1 billion in additional investments to ensure that as New Brunswick’s electricity demands grow substantially over the coming years, we meet demand with clean electricity that is both reliable and affordable. NB Power estimates the following investments could help power up to 140,000 homes.
- Up to $1 billion in federal support for up to 670 megawatts of Indigenous-led wind projects through the Canada Infrastructure Bank (CIB) Clean Power priority sector and Indigenous Equity Initiative as well as Natural Resources Canada’s Smart Renewables and Electrification Pathways program (SREPs).
- $25 million from SREPs for the 25-megawatt Neweg Energy wind project, a partnership with the New Brunswick Mi’kmaq First Nations.
- $500,000 to the North Shore Mi’kmaq Tribal Council to provide seven Mi’kmaq Nations in New Brunswick resources and technical support and enable direct participation in clean energy opportunities.
- A commitment from Canada to work with New Brunswick and NB Power to support the conversion of the Belledune Generating Station from coal-fired power to biomass.
- $1.6 million from Atlantic Canada Opportunities Agency (ACOA) to further investigate the conversion through engineering and planning studies, this is in addition to a previously announced $2 million from ACOA to evaluate different biomass fuel options.
- $25 million to NB Power for predevelopment work for up to 600 megawatts in new small modular reactor (SMR) capacity at the Point Lepreau Nuclear Generation Station through NRCan’s Electricity Predevelopment Program.
- $1.3 million to NB Power for predevelopment work on the modified Atlantic Loop transmission line between New Brunswick and Nova Scotia through NRCan’s Electricity Predevelopment program.
The Ministers also announced that the Government of Canada and the Government of New Brunswick have reached a common understanding on the forthcoming Clean Electricity Regulations that will provide the flexibilities needed to enable New Brunswick’s electricity system to grow and decarbonize all while ensuring it will be affordable, reliable, and non-emitting.
The federal and provincial governments, in collaboration with First Nations partners, have already been partnering through the New Brunswick Regional Table to identify and accelerate shared economic priorities for a net-zero future in the province’s energy and resource sectors. Investments announced today demonstrate the commitment to continue to collaborate and to take action to grow and decarbonize the electricity grid.
As demand for electricity grows, the opportunity to power our communities and the world with clean, affordable, and reliable power is a win-win-win – for workers, for affordability, and for the environment. The Government of Canada’s plan is working to drive GHG pollution down while the economy grows and inflation cools. Together, with provinces and territories, Indigenous Peoples, municipalities, industry and workers, the Government of Canada is seizing the opportunity ahead to build a strong economy with good jobs, and to ensure a healthy environment for our children and grandchildren.
Quick Facts
- The Government of Canada’s Smart Renewables and Electrification Pathways Program (SREPs) is a $4.5-billion program designed to support the deployment of clean electricity to ensure a reliable, affordable and decarbonized electricity system.
- The Canada Infrastructure Bank (CIB) is supporting renewable power procurements in British Columbia, Saskatchewan, New Brunswick and Nova Scotia. The CIB’s Clean Power sector has a target to invest at least $10 billion in projects which allow Canadians to access more reliable and secure energy, create jobs and cut emissions.
- In addition, the CIB’s Indigenous Equity Initiative provides loans to Indigenous communities to provide them with access to capital to purchase equity stakes in projects in which the CIB is also investing. Economic returns from these projects can be reinvested, narrowing the economic and infrastructure gap among Indigenous communities.
- In Atlantic Canada, ACOA is delivering $55 million under the Canada Coal Transition Initiative. The initiative is set to end on March 31, 2025.
- NRCan’s Electricity Predevelopment Program is a $250-million program to support pre-development activities of clean electricity projects such as inter-provincial electricity transmission projects and small modular reactors, critical for supporting economic development through investments in new infrastructure and the enhanced security and reliability of our clean energy supply.
- Powering Canada’s Future combines historic investments and balanced, fair regulations to ensure new electricity production in Canada is built with the affordable, reliable, clean, and renewable energy sources that Canadians expect.
- Across Canada, electricity operators are taking advantage of the more than $60 billion over the next decade in federal support to help build 21st century electricity grids.
- All G7 countries have committed to build a net-zero grid as a foundational measure for enabling achievement of net zero economies by 2050.
- Electrification is helping to save families money on their energy bills, such as by driving hybrid trucks or installing all-season heat-pumps that have lower operating costs. These cost-saving technologies are supported by purchase incentives and rebates programs from the Government of Canada, helping to put hundreds of dollars more in the pockets of Canadian families every month.
- Besides significant cost savings, several studies have found that clean electricity can enable lower and more stable electricity bills, since the shift away from fossil fuel electricity also protects ratepayers from volatile electricity prices caused by global price shocks associated with coal and natural gas-powered electricity. For example, Manitoba, Quebec, British Columbia, and Ontario largely operate cleaner electricity grids that provide stable and affordable power and energy reliability during the coldest winter days.
