Helping New Brunswickers reduce energy costs, cut pollution

FREDERICTON, NB, March 11, 2024 /CNW/ - Canada's approach to carbon pollution pricing includes helping people improve the energy efficiency of their homes and businesses and cutting energy costs. Whether that's through rebates to individuals and families every three months, or investments in clean industry projects, pollution pricing supports Canada's emissions reduction goals while helping to grow a clean, strong economy.

Today, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, announced that the Government of Canada is supporting New Brunswick to make significant progress on carrying out its Enhanced Energy Savings Program?a program designed to help homeowners make energy-efficient upgrades to their homes. This program supports installing heat pumps, improving insulation and air sealing, and helping residents to move away from costly home heating oil, among other measures. These upgrades will allow homeowners to better manage their energy use and cut the costs of their monthly energy bills while reducing greenhouse gas emissions and helping create a cleaner, safer environment.

By fulfilling its commitment to return over $20 million of pollution pricing proceeds to the province of New Brunswick through the Future Electricity Fund, the Government of Canada is supporting clean energy projects, energy-efficient technologies, and other initiatives that will help Canada meet its climate goals and achieve a net-zero emissions economy by 2050.

The Future Electricity Fund complements Canada's plan to transition to a net-zero electricity grid. Together, these initiatives will make options for affordable electricity easier for New Brunswick households, while bringing more renewables and non-emitting electricity to New Brunswick. With the Future Electricity Fund, Canada can build a strong, sustainable energy system that benefits the environment, the economy, and families.

"The Future Electricity Fund demonstrates how pollution pricing in Canada works to fight climate change and reduce energy costs while building a more sustainable, resilient economy. Today's announcement in New Brunswick will help the province deliver a crucial program to support energy-efficient upgrades, saving households hundreds of dollars every year. Affordable, reliable, clean electricity is the Canadian advantage that helps families reduce greenhouse gas emissions, get ahead, and contribute to our transition toward a cleaner, more resilient energy future."
? The Honourable Steven Guilbeault, Minister of Environment and Climate Change

"As a Member of Parliament representing the people of New Brunswick, I am thrilled about today's announcement to provide over $20 million from the Future Electricity Fund to the province's Enhanced Energy Savings Program. This funding not only bolsters our province's commitment to environmental sustainability, but more importantly, it prioritizes the affordability of clean energy for our households. By reducing the energy burden on our most vulnerable residents, we are not only making life more affordable, but also driving economic growth and a greener future for New Brunswick."
? Jenica Atwin, Parliamentary Secretary to the Minister of Indigenous Services and Member of Parliament for Fredericton

"Since September 2022, the province of New Brunswick has invested significant funding in the Enhanced Energy Savings Program with announcements of $100 million to help make energy more affordable for those who need it most. We are happy to partner with our federal colleagues to grow this important program, all while continuing to reduce New Brunswick's greenhouse gas emissions. We look forward to future opportunities for further collaboration to ensure energy remains affordable."
? The Honourable Mike Holland, Minister of Natural Resources and Energy Development, New Brunswick

"We welcome this additional investment to allow the Enhanced Energy Savings Program to grow and have greater impact across the province. This will enable our province to make great strides toward reducing our greenhouse gas emissions, completing an action within our provincial Climate Change Action Plan, and making energy more affordable for New Brunswickers."
? The Honourable Gary Crossman, Minister of Environment and Climate Change, New Brunswick

"We are grateful for the support from the Future Electricity Fund, which comes at a crucial time for New Brunswickers as the cost of basic necessities is rising everywhere. This funding enables us to help participants in the Enhanced Energy Savings Program manage their electricity costs and make their homes more comfortable, greener, and more efficient, and is part of our longer-term strategy to drive electrification and create greater value for our customers."
? Lori Clark, President, Chief Executive Officer, and Chief Nuclear Officer, NB Power

• Under the federal pollution pricing system, all proceeds are returned to the province or territory where they are collected.
• The Future Electricity Fund is part of the Government's comprehensive approach to clean electrification, as outlined in Powering Canada Forward.
• The Future Electricity Fund is comprised of proceeds collected from electricity-generating facilities covered by the federal Output-Based Pricing System (OBPS). These proceeds are being returned through funding agreements with provincial or territorial governments where the federal carbon pollution pricing system for industry currently applies, or applied in the past, to support clean electricity initiatives.
• The OBPS is the regulatory trading system for industry under Canada's carbon pollution pricing system. The federal OBPS is designed to ensure that there is a price incentive for industrial emitters to reduce their greenhouse gas emissions and spur innovation.
• The Government of Canada committed to return proceeds collected from the OBPS to the jurisdictions of origin. Provinces and territories that have requested and/or accepted the federal OBPS can opt for a direct transfer of proceeds collected. Proceeds collected in provinces and territories where the federal OBPS has been applied, but not requested (Manitoba, New Brunswick, Ontario, and Saskatchewan), will be returned through the two program streams of the OBPS Proceeds Fund.
• The Government of Canada's Oil to Heat Pump Affordability Program provides eligible homeowners with low-to-moderate incomes up to $10,000 in federal support. Combined with funding available from the Canada Greener Homes Grant, these two programs have supported the installation of over 23,000 heat pumps in Atlantic Canada, including 7,584 in New Brunswick.
• On average, homeowners who switch from oil to cold-climate heat pumps to heat their homes would save between $1,500 and $4,700 per year on home energy bills.

• Output-Based Pricing System Proceeds Fund
• Carbon Pollution Pricing Proceeds Programming and Use of Proceeds
• How Carbon Pricing Works
• How the Price on Pollution Works for Industry
• Low Carbon Economy Fund

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SOURCE Environment and Climate Change Canada