Our Economic Impact

A 3rd Party Assessment of Saint John Energy’s economic impact in the city and across New Brunswick that estimates the potential future impact from both a moderate and high growth scenario over the next decade.

Anchoring an electricity generation, transmission and distribution cluster

We have a lot of work to do if our community is going to keep up with the changes required of all electrical utilities in the coming decade. As a utility owned by the City of Saint John, it’s important for citizens and ratepayers to know the impact we are having and the impact we could have in the coming years if we implement our strategy, resulting in lower rates, better services, and cleaner sourcing.

The purpose of this report, prepared by Jupia Consultants Inc. in January 2020, is to provide an overview of the economic impact of Saint John Energy within the city and across New Brunswick.

For nearly a century, we’ve powered the people of Saint John—at home, at work, and at play. Now, we’re ready to play an even bigger role in our energy future. We are working to create even more value for our customers, our city and our province. Here’s how.

Saint John Energy adds $100 million every year to the provincial GDP, and growing. With our ambitious growth agenda, it is estimated that our economic impact could total $1.4 billion between 2020 and 2029.

Saint John Energy is responsible for about 450 full- time jobs in the city and across the province—our own workforce of 100 and another 350 spinoff jobs. This represents an employment multiplier of 4.5.

From 2015 to 2018, Saint John Energy’s direct, indirect, and induced spending generated an estimated $104 million worth of consumer spending in New Brunswick, most of which would have occurred in the Saint John region.

The money customers pay to Saint John Energy cycles right back into the local economy as employees and suppliers spend their income in the local economy.

A community-owned utility like Saint John Energy allows the employment and economic activity generated to remain here. Having a concentration of energy workers and spending in the Saint John region is a position of strength to build on to create new jobs and prosperity for the future.

Future Growth of Saint John Energy 

Over the next decade, under a moderate-growth scenario, Saint John Energy has the potential to:

  • Contribute an estimated $1.2 billion to provincial GDP.

  • Grow annual revenues by 30 per cent from $120 million to nearly $156 million by 2029.

  • Generate $448 million worth of labour income, mostly earned and spent in the Saint John region.

  • Create $333 million worth of consumer expenditures, mostly spent in the Saint John region.

  • Provide governments a cumulative tax revenue over the 10-year period of $265 million.

  • Produce more than $145 million in consumer spending.

Over the next decade, under a high-growth scenario, Saint John Energy has the potential to:

  • Contribute an estimated $1.4 billion to provincial GDP.

  • Grow annual revenues by 56 per cent from $120 million to nearly $190 million by 2029.

  • Generate $516 million worth of labour income, mostly earned and spent in the Saint John region.

  • Create $383 million worth of consumer expenditures, mostly spent in the Saint John region.

  • Provide governments a cumulative tax revenue over the 10-year period of $306 million.

  • Produce more than $220 million in consumer spending.