Building a resilient and efficient power distribution grid helps minimize environmental impacts and costs, providing long-term rate stability for consumers. With support from the Government of Canada, the regional economy and the competitiveness of local industries will benefit from Saint John Energy's scalable improvements to the power grid.
Saint John Energy will deploy multiple grid-connected resources to manage the supply and delivery of energy during peak demand periods. It will also use artificial intelligence to predict energy loads, so that grid-connected energy resources can reduce operational costs and improve system efficiencies.
The Government of Canada, through the Atlantic Canada Opportunities Agency (ACOA), is providing a non-repayable contribution of $950,000 for this project. Wayne Long, Member of Parliament for Saint John-Rothesay, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA, made the announcement today. Natural Resources Canada also contributed $4.1 million to the project.
Economic growth and the creation of good jobs for Atlantic Canadians require innovation and diversification. Support for this project is one way the Government of Canada is growing the innovation economy by working to advance projects that increase efficiency while minimizing the environmental costs of power-grid operations. Projects like this also contribute to the Atlantic Growth Strategy outcome of long-term economic prosperity in the region.
"Our government is investing in strategic projects to empower communities across the country so Canadians in every region can compete and succeed in the global economy. Today's investment in Saint John Energy is building on our competitive advantages by increasing the efficiency of power distribution, minimizing the economic and environmental costs of its operations, and providing long-term rate stability for its customers to boost economic growth and create good, middle-class jobs for Canadians."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
"From manufacturing to exports to technology, Saint John is a hub for many diverse industries. I am pleased that our government is supporting the competitiveness of our business community through this project that will increase the efficiency of our power grid and provide stable rates for consumers. These improvements will enable Saint John Energy to continue to be a leader in the innovation of power grids and power delivery as Canada transitions to a low-carbon economy."
- Wayne Long, Member of Parliament for Saint John-Rothesay
"Saint John Energy is committed to providing consumer choice with smart home energy services while maintaining low electricity rates. Funding will support smart energy initiatives that will reduce our impact on the environment as well as improve our cost structure. We are focused on making Saint John one of the greenest and most affordable energy cities in Canada."
- Ryan Mitchell, VP, Saint John Energy
Quick facts
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The Government of Canada invested $950,000 in this project through ACOA's Regional Economic Growth through Innovation (REGI) program. Natural Resources Canada also contributed $4,127,000 toward this $ 11.7 million project.
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The Regional Innovation Ecosystems stream of the REGI program supports the creation and growth of inclusive regional ecosystems that support business needs and fosters an entrepreneurial environment conducive to innovation, growth and competitiveness.
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The REGI program continues to build on the objectives of Government of Canada's Innovation and Skills Plan.
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Saint John Energy, owned by the City of Saint John, has been providing electricity to the city since 1922.
