NB Power needs to go 'outside' to find next CEO in order for true transformation critics say
The decision to oust NB Power CEO Keith Cronkhite came as a surprise to many, and has garnered some mixed reactions.
Liberal energy critic René Legacy suspects the crown corporation is doing 'damage control' and wonders if Cronkhite is the 'fall guy' after another difficult year for the utility.
"After Q3, the total debt for NB Power had increased by $95 million and their plan for this year was to reduce it by $81. So they’re $176 million off the mark and they had one quarter left to achieve it. And we already know for most of this quarter that Point Lepreau’s been down. So there is some factors that they weren’t going to achieve this target," he said.
Cronkhite was in the role for just over two years. A former vice-president, Lori Clark, has taken on the position of acting CEO while a search takes place for a permanent replacement.
Although, board chair Charles Firlotte said in an interview Monday he’s hopeful Clark will add her name to the mix.
"She’s massively talent and I would hope she will throw her hat in the ring. That will be up to her ultimately," he said. "She would be the first female in 100 years and in my humble opinion she has the skills and talents."
Energy and Climate Change Director for the Convervation Council of N.B., Louise Comeau, believes the board should look elsewhere.
"We need to go outside the NB power family, to bring in somebody with experience in the changes we’re talking about," she said. "In particular on the, how I would characterize, as the modern approach to managing electricity, with lots of renewable energy on the system."
Firlotte said this is about 'significant transformation,' to try and make NB Power profitable during a time of global energy change.
"NB Power has a need to transform from what it is, which is a traditional old monopoly, to an energy provider of the future that is efficient and responsive to customer needs," he said.
According to the province’s former auditor general, as of 2020, the crown corporation was $4.9 billion in debt. At that time, it was only paying off an average of $20 million each year, since 2013’s completion of Point Lepreau’s refurbishment.
And it has some expensive projects on the horizon, including the Mactaquac Dam refurbishment, expected to cost between $2.7 and $3.7 billion.
The pre-engineering phase is underway for that refurbishment, with work starting in 2025. It’s expected to last ten years.
There’s also the coal-fired Belledone Generating Station, which will have to cease operation in 2030. There is hope the facility could find a new purpose, but Legacy says he hasn’t heard of any real plans on the table.
Comeau is hoping the consulting firm hired to review the utility over the next several months will interview New Brunswickers, organizations and experts.
She says it’s possible to put a focus on environmental initiatives while keeping rates low.
"What I would hope for New Brunswickers is that they won’t accept the arguments that we can’t achieve environmental outcomes and have lower rates. It’s not true. We can do it. We can be more efficient. We can have lower bills. We can have non-polluting power," she said.
CTVNews.ca Top Stories

McCarthy becomes the first U.S. speaker ever to be ousted from the job in a House vote
U.S. House Speaker Kevin McCarthy was voted out of the job Tuesday in an extraordinary showdown, a first in U.S. history that was forced by a contingent of hard-right conservatives and threw the House and its Republican leadership into chaos.
DEVELOPING CN experiencing network-wide system failure; Via, GO and other trains affected
Canadian National Railway Co. is experiencing a network-wide system failure that is affecting Via, GO and other trains in Ontario.
Parks Canada reveals additional details about deadly bear attack in Banff
The couple and dog mauled and killed by a grizzly bear in the backcountry of Banff National Park late last week did everything right, Parks Canada says.
Poilievre defends Truth and Reconciliation Day post, calls criticism 'appalling politicization'
Conservative Leader Pierre Poilievre is defending the caption on photos he posted to social media on the National Day for Truth and Reconciliation after Liberal cabinet minister Marc Miller accused him of misidentifying Inuit people as Algonquin.
A bus crash near Italian city of Venice kills at least 21 people, including Ukrainian tourists
A bus carrying foreign tourists including Ukrainians crashed near the Italian city of Venice when it fell from an elevated street Tuesday, killing at least 21 people and injuring 18 others, authorities said.
Liberal Greg Fergus makes history, elected first Black House Speaker
Liberal MP Greg Fergus is Canada's new House of Commons Speaker, following a secret ranked ballot election on Tuesday. It is a day for the political history books as Fergus, once a parliamentary page, becomes the first Black Canadian to hold the prestigious role.
After a four-week campaign, Manitobans to decide on Tories' bid for a third term
Manitobans are to make history today as they cast final ballots in an election that has followed four weeks of promises, debates and controversial advertisements.
MK-ULTRA mind-control experiments: Quebec high court says U.S. has immunity in Canada
The United States government cannot be sued in Canada for its alleged role in infamous brainwashing experiments at a Montreal psychiatric hospital, Quebec's Court of Appeal ruled this week.
New York judge issues limited gag order after Trump sends disparaging post about court clerk
Rebuking Donald Trump, a state court judge imposed a limited gag order Tuesday in the former president's civil business fraud trial and ordered him to delete a social media post that publicly maligned a key court staffer.