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N.B. increases mill subsidy for electricity buy-back program

The government of New Brunswick has boosted renewable energy subsidies for pulp and paper mills in the province.

According to a report by CBC News, the rate NB Power must pay to mills to buy renewable electricity from J.D. Irving, Ltd., AV Group and Twin Rivers Paper Company has increased by 12.5 per cent.

As part of the new program, the rate, which hadn’t changed since 2012, will go up every year.

Before Apr. 1, 2021, NB Power purchased electricity produced by the mills at $95 per megawatt hour. Now the rate is $106.91.

The utility sells the electricity back to the mills at a lower price to offset electricity costs.

Read the full story here.