New Brunswick proposes holding nuclear planning costs in a supervised account rather than collecting them from ratepayers before 2030. That may create room to find partners, but the governance question concerns who ultimately bears the risk.
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Sometimes a major project begins with the smallest possible political promise. People are told that preparatory spending will be recorded, carefully supervised and kept off their bills for now. That can be sensible. Planning requires money, and forcing an immediate decision about permanent financing before the work is understood could be wasteful. It is also a promise about timing, which is not quite the same thing as a promise about who ultimately pays.
New Brunswick introduced proposed amendments to its Electricity Act on October 27 concerning nuclear development planning at Point Lepreau. Under the proposal, NB Power would record eligible early costs in a deferral account overseen by the Energy and Utilities Board. Amounts in the account couldn't be collected before April 1, 2030. The province says it will seek federal and private investment to reduce or cover those costs, with an aim of avoiding a ratepayer burden. The amendments require legislative passage and proclamation. Neither the account nor the restriction should be described as already imposed by the proposal.
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