Consultant says revised NB Power deal to save ratepayers at least $5 billion

The Canadian Press ~ The News
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FREDERICTON - A Washington-based consulting group says while the proposed sale of NB Power assets to Hydro-Quebec has changed, the impact on power rates is relatively unchanged.
NERA economic consulting has released a report that examines the effects of the proposed $3.2 billion deal that would see the sale of 10 New Brunswick power plants to Hydro-Quebec.
Eugene Meehan, NERA's senior vice-president, says ratepayers will receive about $5 billion in rate savings, as compared to the $5.6 billion in the original deal announced last Fall.
New Brunswick's Liberal government watered-down the original $4.75 billion deal - taking transmission and distribution systems off the table - as a result of public opposition.
Meehan says residential and small business customers will receive more than twice the savings of industrial customers.
The New Brunswick government has rejected calls for a referendum and is pushing for a finalized agreement by the end of March.

Organizations: NB Power, Hydro-Quebec

Geographic location: New Brunswick, FREDERICTON

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