If you were hoping for a reduction in your power bill -- forget it!!! The Energy and Utilities Board has concluded a three percent rate increase by N-B Power back on April Fools Day is necessary. But in its report to Energy Minister Jack Keir -- the Board does question some of the utility's financial forecasting methods and timing of those forecasts related to when final budget decisions are made.
Even with the increase -- the utility is still expected to post a loss of 67-million dollars in the current fiscal year.
