At Saint John Energy's 2021-22 Annual Community Update and General Meeting held today, President & CEO Ryan Mitchell said that the utility's consumer products business is helping to offset a decade of essentially flat growth in demand for electricity.
"Aside from the variation in 2020 because of the onset of the pandemic...our core business has been relatively steady but flat. Our consumer products business, meanwhile, is growing," Mitchell said in his presentation during the virtual meeting.
"This is important because it shows that our strategy around consumer products and innovation has put us on the right path - ensuring that we can be sustainable well into the future," he said. Saint John Energy's consumer products business - which includes water heater and heat pump rentals along with area lighting - is offsetting the flattening demand for electricity in recent years, Mitchell said.
In his presentation, he noted that the flattening of demand for electricity has been largely driven by the success of energy efficiency programs and services, allowing customers to be more efficient in the use of electricity - a trend that Mitchell welcomes because it helps the environment and lowers costs for customers.
Thanks to its innovative smart grid project, the utility has been able to shift energy demand away from peak times - cutting CO2 emissions in the province and reducing the peak energy charges it pays to its wholesale electricity supplier.
Last year, Saint John Energy saved more than $1 million by leveraging the smart grid to reduce and shift demand, Mitchell said.
"As we reduce the peak and save money, we are also curbing carbon emissions in New Brunswick," he said. "And I am pleased to provide an early report that we're on track to realize even more - as of the first quarter of 2022, the savings are already at $500,000."
Today's meeting, emceed by Envision Saint John CEO Paulette Hicks, also featured remarks from Saint John Mayor Donna Reardon, New Brunswick Minister of Natural Resources and Energy Development Mike Holland, sustainability consultant and speaker Carl Duivenvoorden and United Way Saint John Kings & Charlotte Executive Director Alexya Heelis.
Speakers congratulated Saint John Energy on providing a century of service to the city - on Dec. 5, 1922, the Power Commission of the City of Saint John was established. They lauded the utility for its record of providing affordable power, for its innovations and for its role in building prosperity in Saint John.
Other highlights from Mitchell's presentation:
- The utility continues to advance its Utility of the Future project built on three pillars: renewable energy and storage, electrification and smart grid.
- Saint John Energy continues to be one of the most highly regarded electrical utilities in Canada, with independent surveys of customers showing it is maintaining its leadership in metrics such as reliability, customer satisfaction, trustworthiness and environmental stewardship.
The utility still offers the lowest residential electricity rates in Atlantic Canada, about 10 per cent lower. Collectively, all its customers are saving $10 million a year with its lower rates.
Saint John Energy is a progressive energy company providing trusted energy solutions to more than 36,000 residential and business customers in Saint John, New Brunswick. Locally owned and operated since 1922, it is one of the highest-rated electrical utilities in Canada for reliability and customer satisfaction and holds the coveted Sustainable Electricity Company designation. Its commitment to innovation has earned it national and international acclaim, including an Award of Excellence from the International Smart Grid Action Network for innovation and a Clean50 Award for outstanding commitment to sustainability. For more information, visit www.sjenergy.com.
Media contact:
Jessica DeLong, Manager, Stakeholder Relations
506.647.0365 | jessica.delong@sjenergy.com
