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The reorganization also created the New Brunswick Electric Finance Corporation, which was responsible for issuing, managing and paying NB Power's debt through payments dividends, fees and taxes paid by the various subsidiaries, [36] and the New Brunswick System Operator, an independent market operator that administered relationships between ...
On October 29, 2009, the premiers of New Brunswick and Quebec signed a memorandum of understanding [6] (MOU) to sell most assets of NB Power to Hydro-Québec.This agreement would have transferred most generation, transmission and distribution assets of the New Brunswick utility to a subsidiary of the Quebec-based Crown corporation, including Point Lepreau, 3 diesel-fired peakers and 7 ...
Among other things, the Act saw the amalgamation of the NBSO with the NB Power Group of Companies. Legislation continues the requirement for open and non–discriminatory transmission access in New Brunswick. The system operation functions that were currently performed by the NBSO are now performed within a vertically integrated NB Power.
The Power Commission of the City of Saint John, [1] operating as Saint John Energy, is the electricity utility for the city of Saint John, New Brunswick. It was founded in 1922 and now serves over 36,000 customers. [2] The utility sells 950GWh of electricity annually, which it purchases from NB Power.
In late 2001, NB Power announced its intention to refurbish Coleson Cove and convert its fuel source to orimulsion, which was sole-sourced from Petróleos de Venezuela S.A. (PDVSA) in a $2 billion 20-year supply agreement. The $2.2 billion refurbishment project involved reconfiguring the boilers, as well as on-land storage tanks, Lorneville ...
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New Brunswick has a diversified electric supply mix of fuel oil, hydroelectric, nuclear, diesel, coal, natural gas, wind, and biomass power stations. NB Power, the government-owned, integrated public utility is the main power generator in the province.