NB Power

NB Power provides recommendations on future structure (10/06/01)

NB 858

June 1, 2010

FREDERICTON (CNB) - NB Power has submitted a long-term plan to the provincial government that outlines recommendations on its future structure.

"Following the Premier's request to provide both a short-term and long-term plan, NB Power has taken the time to look at the various options and what would be the most efficient and beneficial to our customers," said Edward Barrett, chair of the NB board of directors. "There is no question that there has been a specific focus on the role and structure of NB Power and how it fits the new energy model that has been evolving. As a part of this request, NB Power reviewed a number of reports that have been prepared over the years on the role and structure of NB Power. This information, along with current conditions, was used to assess operational parameters and challenges that exist in the New Brunswick market."

The NB Power board and executive recommend that:

1) For electricity rates for customers. NB Power would further recommend that the three per cent threshold that requires a rate hearing would be removed thereby increasing transparency. This would mean that any rate increase would go before the regulator.

2) For transmission that goes through the province as is currently the case.

"This proposed structure for NB Power would increase efficiencies, reduce costs, eliminate duplication and promote greater transparency which would help us to enhance our relationships with our customers and stakeholders," said Gaëtan Thomas, president and chief executive officer. "This aligns with our new mission to Proudly Serve our Customers."

10/06/01

MEDIA CONTACT: Heather MacLean, director, corporate relations and communications, 506-458-6618, hemaclean@nbpower.com.

10/06/01