Energy / Business New Brunswick

Ministers issue joint statement about proposed energy agreement with Hydro-Québec (09/11/02)

NB 1723

Nov. 2, 2009

FREDERICTON (CNB) - The following joint statement was released today by Energy Minister Jack Keir and Business New Brunswick Minister Victor Boudreau about the proposed energy agreement between New Brunswick and Hydro-Québec:

Over the past few days there has been a great number of questions about what the proposed energy agreement between New Brunswick and Hydro-Québec would mean for New Brunswickers now and into the future.

Given the importance of this proposed partnership with Hydro-Québec, we feel it is important to set the record straight on a number of issues.

Retaining control of energy policies

The suggestions that New Brunswick would give up control of its energy policies to Hydro-Québec are unfounded.

Future rate increases

The proposed agreement would provide New Brunswickers with lower power rates well beyond the first five years in which rates would be frozen, by limiting future increases to inflation and new generation needs.

Rate savings for residential customers

Through this proposed partnership, $5 billion in rate savings would benefit New Brunswickers in every region of our province.

Lower rates

NB Power's financial position has made it difficult to control rate increases, and, without this proposed agreement, keeping rates affordable for customers would continue to be a challenge.

Consulting New Brunswickers

In closing, we again invite New Brunswickers to become informed about this proposed agreement, and to provide feedback. More information is available online at www.lowerratesnb.ca, or through our toll-free telephone number, 1-800-533-3086.

09/11/02