NB Power’s comprehensive review is officially underway, with three experienced professionals selected to oversee the process.
Energy executive Michael Bernstein, lawyer and former privacy commissioner Anne E. Bertrand, and internationally recognized utility expert Duncan Hawthorne have been appointed to guide the review.
The review will assess financial sustainability, governance and utility structure, customer expectations, and investor attractiveness.
Finance and Treasury Board Minister René Legacy emphasized that the review will be thorough and transparent.
“We are open and allowing the three leads to explore all options to give us the best opportunity to get New Brunswick ready for the future,” Legacy said.
A future-focused review
The review team noted that while NB Power faces unique challenges, the global energy sector is shifting, and New Brunswick must plan for the long term.
“I remember reading a book once called Sacred Cows Make the Best Burgers. And it’s a good way to look at change management,” Hawthorne said.
“You have to go in, as we’ve said, with a pretty open mind. Don’t take a hard position just because we never did it that way. That’s the enemy of change, and New Brunswick has to change.”
Bernstein highlighted about balancing financial stability with customer expectations.
“There are several large projects coming. We have to analyze what portfolio mix of different technologies can be brought forward over the next 25 years,” Bernstein said.
“Then we match that up with current rates and conduct a jurisdictional scan to ensure New Brunswick remains competitive—not just for residents but for businesses as well.”
Bertrand reinforced that the review would be comprehensive, with no pre-set conclusions.
“We know what the industry is facing and what NB Power is facing, and we understand what the province is facing with its utility. But for our purposes, everything is available for us to examine,” she said.
Each of the three review leads has been awarded a contract with a maximum value of $172,000 plus HST for their services, according to Service New Brunswick’s procurement guidelines.
Additionally, up to $20,000 has been allocated to support travel and related expenses.
These financial agreements reflect the province’s commitment to securing experienced leadership as NB Power navigates its comprehensive review.
Each of the three review leads brings extensive experience in the energy and governance sectors:
- Michael Bernstein is an energy and infrastructure executive with decades of experience in investment strategies, advising Canadian provinces on electricity matters, and overseeing large-scale utility projects.
- Anne E. Bertrand is a lawyer specializing in governance and public engagement, previously serving as New Brunswick’s privacy commissioner and a board member of NB Power.
- Duncan Hawthorne is an internationally recognized utility expert with a 40-year career, including serving as the CEO of Bruce Power, one of North America’s largest nuclear facilities.
Officials stressed that public involvement will be central to the process, ensuring New Brunswickers have a voice in shaping the future of NB Power.
The review will address key concerns such as debt management, infrastructure reliability, and affordability.
Public engagement will be a key part of the process, with details on how New Brunswickers can participate set to be announced soon.
Final recommendations and decisions related to the review are expected by March 2026.
