Power rates are set to rise for New Brunswickers starting Saturday.
READ MORE: Low income families in NB struggle to pay power bills
The provincial government announced Thursday that the New Brunswick Energy and Utilities Board had approved an average of 1.77 per cent rate increase for all customer classes.
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But NB Power residential customers will see a 2.07 per cent hike.
According to the utility’s chief financial officer, Darren Murphy, the increase will help in paying down debt and preparing for major capital projects like its plan to prolong the life of the Mactaquac Generating Station.
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READ MORE: NB Power to prolong life of Mactaquac hydroelectric dam
The approval for the rate increase came after five days of public hearings conducted last month.
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