The proposal to turn NB Power back into a vertically integrated utility with a transparent, accountable structure, evaluated by an Energy and Utilities Board with stronger regulatory powers, is fundamentally sound. So is the idea of seeking private-sector partnerships on new capital investments when it makes fiscal sense to do so.

Whatever energy policy legislators commit to in future, the Crown utility must be managed for maximum cost efficiency. These changes will make that possible, while increasing the ability of citizens to evaluate what is going on.

The idea of restoring NB Power's traditional structure has been discussed for some time. In an editorial board meeting with the Telegraph-Journal two years ago this month, then-chairman Francis McGuire discussed the value of such a move. It is to the credit of the current board that its members have recommended this reform.

NB Power's structure was changed in good faith as a response to a changing North American energy market. When legislators voted to rewrite the Electricity Act, they were trying to prepare NB Power for a more competitive environment. That anticipated environment did not materialize, as U.S. states and Canadian provinces pulled back from privatization and deregulation. New Brunswick was left with a fragmented utility with only one regulated element - its distribution company, Disco - and a regulatory board that no longer had sufficient power to review the internal decisions that culminate in the rates passed on to NB Power's customers.

In the years since these structural changes, there has been much discussion of how to re-align NB Power and its public regulator to better protect the public interest. Thanks to the debate over whether to sell some NB Power assets to Hydro-Québec, New Brunswickers are more conversant with the history of the utility. It's an opportune time to put re-integration and regulation on the public agenda.

Legislators have nearly a decade of advice offered in auditor general's reports, Energy and Utilities Board hearings, and the report of the Ganong panel. The need for an efficient, integrated corporation with clear accountability and an empowered regulator stands out as an imperative.

Ratepayers are still waiting for a conclusive debate on what New Brunswick's energy policy should be. They already know what NB Power should be - one public corporation, managed and regulated in the public interest.