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'The facts only strengthen our conclusion that it is a bad deal for New Brunswick and that serious consideration has not been given to a more desirable option.'
Fredericton (2 March 2010) - The group fighting the sale of NB Power (ENBP) to Hydro Quebec (HQ) has responded to Premier Shawn Graham, refuting a list of reasons given by the premier in defence of the controversial $3.2-billion deal.
"The facts only strengthen our conclusion that it is a bad deal for New Brunswick and that serious consideration has not been given to a more desirable option," says a group of experts who belong to The Coalition of New Brunswickers - NB Power Not for Sale.
"That option is a long-term power purchase agreement (PPA) with HQ, including access to ENBP’s interconnection infrastructure for a fee and full integration of ENBP’s hydro resources with those of HQ," the group argues. "There would be no sale of ENBP assets."
If the PPA option were chosen, the experts say, it would bring about the following beneficial results for the people of New Brunswick:
- ENBP could meet all of New Brunswick’s demands for electric energy for $50 million per year less than the costs with the proposed agreement.
- ENBP’s fossil fuel generation to meet New Brunswick’s demands would drop to 4.6% of the total required generation – 95.4% would be from hydro and nuclear generation.
- The province would remain the master of its energy future and be in a position to take full advantage of opportunities and new developments.
- No immediate major capital expenditures would be required by either ENBP or HQ.
- The government and ENBP could focus on negotiating a PPA with HQ which could include taking full advantage of operating synergies of the two systems.
- Concurrently, a process could be initiated to develop a comprehensive energy policy for New Brunswick.
"Mr. Premier, $3.2 billion (in) debt reduction, while disposing of assets worth equal or more, does not improve New Brunswick’s finances," the group says.
"Sustainability requires that New Brunswickers go forward with confidence in their abilities to deal with the unknowns of the future. They should not pay a price too high in an attempt to shift responsibilities to others."
The letter is signed by John Beaton, John Bliss, Gordon F. Burtt, John L. Clifford, L. W.Gerald Conroy, G. L. Crozier, Borden E. Graves, Edward E. Haggerty, Alan S. Lawrence, Gary Llewellyn, William L. McNamara, Robert D. Neill, Gordon McLeod, William G. Paterson, Vincent Ramsay, Frank H. Ryder, H. W. Shephard, Edward H. Smith, Lyle W. Smith, Gordon C. Simpson, Herbert G. Walsh, R. Grant Watson and Jackie Webster.
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The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE
More information:
• NB Power deal delayed two months for hearings
• Summit will explore options to sale of NB Power
• Agenda for Options Summit Feb. 22 in Fredericton
• Experts condemn $3.2-billion sale of NB Power
• Legal challenge brewing over sale of NB Power
• Vigil will protest the undemocratic sale of NB Power
• Website: nbpowernotforsale.org
• Amended $3.2-billion NB Power sale announced
• New Brunswickers protest sale of NB Power
• Public summit Dec. 9 to oppose NB Power sale
• New Brunswickers strongly oppose NB Power sale
• NBUPPE condemns controversial sale of NB Power