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 NB Power

Letter from the President and the Chairman April 21, 1997

NB Power is a mature public utility with an enviable history of technological advancement and a proud record of service and reliability. The Corporation's legislated mission is "to provide for the continuous supply of energy adequate for the needs and future development of the Province and to promote economy and efficiency in the generation, distribution, supply, sale and use of power".

Over the next five years, NB Power intends to maintain its position as the prime supplier of electricity to businesses and residents of New Brunswick. However, the business and regulatory environment in which electric utilities plan and manage their operations is changing. As the environment changes, it will challenge NB Power to meet the service expectations of our customers while managing the downward movement of our debt and maintaining the effective operation of Point Lepreau.

NB Power's protected marketplace could soon be deregulated and opened to competition. NB Power intends to compete for its customers in a deregulated marketplace on the basis of service, price and reliability. To do this, we will modernize and streamline our business operations and build stronger relationships with our customers.

In a competitive market, electricity will be sold as a commodity by brand-name suppliers. Brand preference will be determined by the distinguishing characteristics of the branded supplier. The distinguishing characteristics of the NB Power brand will be based on its personality, customer service, price and reliability. These characteristics will be strengthened by investments in new product and service initiatives, aggressive marketing, advertising and the extraordinary attention we will pay to the needs of our customers.

The residents of New Brunswick, represented by the provincial government, are NB Power's only shareholders and its principal customers. NB Power will continue to operate as a free-standing business enterprise, to produce positive returns on invested capital for its shareholders, to ensure the satisfaction of its customers and to win the benefits of competition for New Brunswickers.

J.F. Hankinson
President and Chief Executive Officer
Dr. Frank Wilson

Legislative Assembly of New Brunswick
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