Large Industrial Renewable Energy Purchase Program (New Brunswick, Canada)
Last modified on February 12, 2015.
|Applies to States or Provinces||New Brunswick|
|Name||Large Industrial Renewable Energy Purchase Program (New Brunswick)|
|Policy Category||Financial Incentive|
|Policy Type||Performance-Based Incentive|
|Affected Technologies||Biomass/Biogas, Concentrating Solar Power, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
|Program Administrator||New Brunswick Energy and Mines|
|Applicable Jurisdiction||New Brunswick, Canada|
|Information Source||Electricity from Renewable Resources Regulation – Electricity Act - http://laws.gnb.ca/en/ShowTdm/cr/2006-58//|
Beginning January 1, 2012 the Large Industrial Renewable Energy Purchase Program allows NB Power to purchase renewable energy generated by its largest customers at a rate of $95/MWh. This renewable energy will count towards meeting the Province’s renewable energy targets at a purchase price at - or below - the current market price for most forms of renewable energy.
The underlying premise of the Large Industrial Renewable Energy Purchase Program is to bring electricity costs for qualifying export-oriented companies in New Brunswick in line with the average cost of electricity in provinces where those companies’ competitors are located.
The Large Industrial Renewable Energy Purchase Program is implemented in accordance with the provisions found in the Electricity from Renewable Resources Regulation – Electricity Act. The general requirements and parameters are set out in the Regulation but certain assumptions and methodologies are reserved for the Minister of Energy to determine.
|Department||New Brunswick Energy and Mines|
|Division||Large Industrial Renewable Energy Purchase Program|
|Address 2||1 Germain Street, Suite M100|
|Place||Saint John, New Brunswick|
|Zip/Postal Code||E2L 4V1|