New Brunswick energy minister hopeful of deal on natural gas after court ruling

FREDERICTON – New Brunswick’s energy minister says he’s hopeful a deal can be worked out with Enbridge Gas New Brunswick on natural gas rates.

Craig Leonard’s comments follow a New Brunswick Court of Appeal decision that struck down regulations that limited what the company could charge its industrial and commercial customers.

The court ruled that the government went beyond its authority set out under the Gas Distribution Act when it set a cap to rates charged by Enbridge Gas New Brunswick.

The company had argued the cap would have resulted in a loss of at least $6 million a year and a reduction of up to half of its employees.

Leonard says talks are underway with Enbridge Gas New Brunswick and he would like to see a deal that would allow it to collect a fair rate of return while keeping rates low for customers.

He says it’s too early to say if his department will appeal the ruling.

Enbridge Gas New Brunswick is owned by Enbridge Inc. (TSX:ENB).