NB Power

NB Power board of directors issues statement (10/01/25)

NB 96

Jan. 25, 2010

FREDERICTON (CNB) - The board of directors at NB Power issued the following statement this morning:

The board of directors met Friday and received a full briefing on the revised Hydro-Québec transaction from the Government of New Brunswick's consultants and financial advisers.

The board of directors of NB Power supports the government in the sale of assets to Hydro-Québec. In doing so, we recognize that change and corporate re-organization always raise concerns and anxieties on the part of those individuals directly affected, namely the employees.

It is the responsibility of the company's board of directors and management to work closely with our employees and their representatives and to face these challenges with both flexibility and sensitivity. We pledge our close co-operation in working together with our employees to best manage these changes.

We believe that power rates for our customers will be lower under the proposed arrangement than we could accomplish on our own as NB Power, and that risks are substantially reduced.

10/01/25

MEDIA CONTACT: Heather MacLean, manager, media relations, NB Power, 506-458-6618, hemaclean@nbpower.com.

10/01/25