Looking to the future with growth and innovation in mind
All of our efforts through 2019 were undertaken to build on our service to Saint John. We’re immensely proud of that service, of the trust that our customers place in us, and of the strong record of reliability we have earned.
By Ray Robinson, June 5, 2020
I am pleased to be sharing with our community how we are doing as your locally owned energy company – our results from 2019, our outlook for 2020 and our ambitions for the future.
We hosted the first virtual community annual general meeting in Saint John Energy’s history on June 4. I must say, I am so impressed by the level of engagement and interest citizens of this city have in our company.
We were joined by Saint John-Rothesay MP Wayne Long, who announced federal support for our Home Heat Saver program, a brand new service that will be a first for Atlantic Canada. Saint John Energy customers will soon be able to tap into aerial heat-mapping technology to show exactly where heat is escaping from their homes.
By logging into their account online, customers will be able to see their home’s private and personalized heat loss map, which includes a unique thermal image of their rooftop. This map will pinpoint specific areas that are experiencing high heat loss in red, and more efficient areas in blue.
Based on the amount of heat escaping the home, customers will receive a heat loss score that only they can access. Customers will be able to compare their score to the city and neighbourhood average.
We will connect those with a high heat loss score with rebate programs, efficiency services and innovative products to help them conserve energy, save money on their power bills, and contribute to a greener Saint John.
We’re proud to be able to offer this innovative service to our customers, which was developed in partnership with Natural Resources Canada, the University of New Brunswick and Calgary-based MyHEAT. We will be undertaking a small trial this summer and plan to roll it out in full this fall. (sign up for the trial)
Home Heat Saver is part of Saint John Energy’s strong service commitment to our customers, to our dedication to innovative solutions and our drive to build the Utility of the Future for Saint John.
The Utility of the Future
To build the Utility of the Future, we are focused on creating renewable energy options for our customers, including the Burchill Wind Farm and the possibility of community solar projects.
“All projects and innovations that will save our customers energy and money, lead to lower greenhouse gas emissions.”
We’re building a smart grid for Saint John. We’re the first in the world to install a Tesla Megapack battery, a massive battery that will store energy for us during times of low energy demand for use during peak energy times.
These are all projects and innovations that will save our customers energy and money. They will lead to lower greenhouse gas emissions, creating a greener New Brunswick.
These are all a part of Saint John Energy's Growth Strategy. So too are our efforts to forge new strategic partnerships to drive innovation, our determination to foster growth in new services and products for our customers, and our desire to expand our utility services business.
Adapting to the Pandemic
People have asked how COVID-19 has impacted Saint John Energy. I am ever thankful to our tremendously dedicated employees, who have been working harder than ever for our customers and were able to move our company, for now at least, to a virtual operation in less than 12 hours.
“Today, more than ever, I believe our Growth Strategy becomes far more important as a catalyst for economic growth for our city – and our province.”
Because we entered our response to COVID-19 from a position of financial strength, we were able to move quickly with approaches that would provide relief to customers who had suddenly lost jobs or had to shut down their businesses.
With customers deferring payments and a drop in demand, we forecasted a $8 million gap in revenue for 2020. We swiftly instigated a robust financial and operational review, identifying $4 million in reductions or deferrals to operational and capital expenditures while arranging for financial backstops for the remainder.
We are ahead of our forecast, and I remain confident and optimistic for the future. And today, more than ever, I believe our Growth Strategy becomes far more important as a catalyst for economic growth for our city – and our province.
3rd Party Assessment of Saint John Energy’s economic impact
David Campbell, Jupia Consultants
At the community meeting, we were able to share the insights brought to us by David Campbell, president of Jupia Consultants and a former chief economist for New Brunswick. He studied the economic impact of Saint John Energy and our growth strategy.
His report revealed much about the impact our company has on the city and the province, including a $100 million a year contribution to New Brunswick’s GDP along with 450 full-time jobs – 100 of our own, and 350 spinoff jobs.
He also found that, under a high-growth scenario, our Growth Strategy will boost that contribution to $1.4 billion toward the GDP over a 10-year period and increase our impact to 700 jobs.
All of our efforts through 2019 were undertaken to build on our service to Saint John. We’re immensely proud of that service, of the trust that our customers place in us, and of the strong record of reliability we have earned.
But we take none of that for granted. I am grateful for the tireless commitment and loyalty demonstrated by our employees, who know that we must earn this trust – and live our reputation – day in and day out.
Ray Robinson is President & CEO of Saint John Energy and Past Chair of the Canadian Electricity Association.