Energy

Proposed energy agreement would cover replacement fuel costs during Lepreau refurbishment (09/11/04)

NB 1739

Nov. 4, 2009

SAINT JOHN (CNB) - New Brunswick taxpayers and ratepayers would save about $275 million in replacement fuel costs during the Point Lepreau refurbishment under the proposed energy agreement between New Brunswick and Hydro-Québec.

Hydro-Québec has agreed that replacement fuel to meet New Brunswick's energy needs during the refurbishment project would be included in the pool of power that Hydro-Québec would supply to the province after March 31, 2010, implementation of the proposed agreement.

"New Brunswickers have expressed concern over the extent of replacement fuel costs during the refurbishment of Point Lepreau," said Energy Minister Jack Keir. "This proposed agreement would shelter ratepayers from financial risks from the delay of restarting the Point Lepreau reactor."

Under the proposed agreement, Hydro-Québec would provide the replacement fuel to meet New Brunswick's energy demands while Point Lepreau is offline, even though the utility wouldn't acquire the reactor until the refurbishment project is completed. As a result, New Brunswick would no longer be responsible for the cost of replacement fuel, and would be protected against any future related costs.

Point Lepreau generates 635 megawatts of power, filling the energy needs of about 30 per cent of the province.

09/11/04

MEDIA CONTACT: Bonnie Doyle Creber, communications, Department of Energy, 506-658-2410.

09/11/04