Acadia News Fredericton, Moncton, New Brunswick, News, Saint John 0

Board chair Charles V. Firlotte says the provincial utility plans to strike out in a new direction under new leadership.

“As we look to the future we are facing unprecedented challenges with a global energy crisis that is adding more cost pressure and exacerbating already excessive debt levels; pressing federal regulations for the phasing out of fossil fuels; and a need to support New Brunswickers with the rapid adoption of greener energy solutions,” Firlotte said in a release. “As such, the Board has concluded we must embark on a significant transformation of the organization.”

The board has retained Price Waterhouse Canada to lead a strategic review, including identifying immediate ways to optimize the current cost structure and meet debt obligations.

It will also find alternative solutions to meet New Brunswickers’ power needs in a cost-competitive, reliable and environmentally sustainable way.

The board is initiating an executive search for a president and CEO. This process is expected to take several months.

New Brunswick, News, Saint John

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