The project will only move ahead if Saint John Energy is able to derive significant savings from purchasing wind energy over the traditional supply. Any savings realized will provide us with positive options for Saint John.
First of all, Saint John Energy plans to maintain the lowest electricity rates in Atlantic Canada.
Wind energy is currently the lowest cost form of new energy in Canada, so this project will not have an adverse effect on customer rates.
If we can generate new revenue or reduce costs, like through the procurement of wind energy, we will consider the following options:
Transfer a form of dividend to the City of Saint John, if that becomes enabled in legislation by the New Brunswick government,
Invest in new products and services that will provide advantages for our customers, or
Reduce rates further.
23 companies have submitted proposals for this project.