NB Power

NB Power board of directors statement (08/12/12)

NB 1817

Dec. 12, 2008

FREDERICTON (CNB) - Issues that have arisen with respect to compensation of senior officers of NB Power were dealt with today at a regularly scheduled meeting of the NB Power board of directors.

"We have a well-established compensation structure here at NB Power," said Ed Barrett, chair of the human resources, governance and nominating committee. "It was developed with the input of outside professionals, and reflects best practices applied throughout industry. Our executive members are compensated around a range of performance indicators. One element of compensation relates to incentives specifically awarded for extraordinary performance. The executive team took the initiative to come forward with the recommendation that they forego any such incentive component of compensation, for which they might be eligible, for the fiscal year 2008-09. The board recognizes the good will and judgement reflected by this gesture of the executive team, and accepts it."

NB Power has achieved several milestones in the past year, including:

NB Power remains one of the most competitively priced electric utilities in North America.


MEDIA CONTACT: Bob Scott, director, Office of the Chairman, 506-458-6850, wrscott@nbpower.com.