Saint John Energy finds itself on the horns of a dilemma……The more consumers become energy efficient, which is considered a good thing, the less revenue Saint John Energy has to work with.
President and C-E-O Ray Robinson says Saint John Energy will have to make money by offering up opportunities for consumers to cut down on their energy use.
Robinson says 800 heat pumps were installed in the first year which was 4 times higher than forecast. Saint John Energy reports net income for 2015 of 1.6 million dollars.
Robinson says across the country, 350 billion dollars worth of electrical assets will have to be replaced by 2030. He says the replacement of aging infrastructure dating as far back as the 1960’s will cost Saint John Energy millions of dollars including the consolidation of the aging substation on Crown Street with the station on the waterfront at a new location somewhere on Union Street.
A survey has found more than 83 per cent of Saint John Energy users are satisfied or very satisfied with the service they receive.
