N.B. gas prices now set every week

Gas prices in New Brunswick will now be set every Thursday, instead of every two weeks, in order to be more responsive to market changes, it was announced Thursday, as one of several changes to the Petroleum Products Pricing Act and regulations.

Responsibility for the regulation of petroleum product pricing will rest with the Energy and Utilities Board, which replaced the former Public Utilities Board this week.

Provincial Energy Minister Keir said members of the new Energy and Utilities board will have more responsibility than those on the old board, with greater flexibility regarding when they can review price components, such as margins, that make up the regulated maximum price.

"I think they'll have more autonomy," Keir said. "There's opportunity here for them to get involved to a greater degree in things such as gas regulation and NB Power hearings."

Other changes to the act include a new full-time role for the vice-chair of the board, Keir said, which he hopes will take some of the pressure off the chair during public hearings.

The recent changes follow an in-depth review done by the provincial government, and are intended to help simplify the gas regulation system, Keir said.

But former public intervener Peter Hyslop said he's concerned about other changes to the act.

"There was a provision in Section 48 Subsection 2 that did provide that the Minister of Justice can appoint the public intervener and set the mandate of the public intervener," Hyslop said.

Hyslop said the traditional role of the public intervener is to act independently of political parties, and that the government shouldn't be seen to influence the public intervener in any way.