New Brunswick’s Energy and Utilities Board has said “no” to NB Power’s application to install smart meters in the province.
The application was part of a marathon public hearing which sat for 31 days over three months.
The board concluded that the estimated capital cost for the project — more than $90 million — did not constitute a positive business case and therefore was not in the public interest at this time.
However, NB Power argued the meters would lead to decreased consumption and lower costs for the utility.
Smart meters make it possible to transmit individual customer consumption data back to NB Power in real time, instead of being read in person once a month.
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The utility is required to gain the board’s permission for any capital expenditure in excess of $50 million.