"Put that in your assumptions and smoke it"

I just stuck this up on the lower rates site. Update : it got deleted so I posted it again. But removed the smoke it part. Interested to see if it stays.

Has anyone read the new NB Power combined financial statement for 2009? It's available here : http://www.nbpower.com/html/en/about/publications/EngCombined.pdf
Second page shows March 31 2009 liabilities at $5.19 billion. I assume thats because of the investment in Lepreau. What will it be on March 31, 2010 when Graham sign on the bottom lne. Add another 1/2 billion?? That would put the debt at about 1 BILLION more than the selling price. I assume that debt goes on the bottom line for the province. Then it takes another 10 months to finish Lepreau with NB taxpayers footing the bill. From the same NB Power financial statement, delay costs for Lepreau are $10 million per month. This is just capital costs, not even the replacement power costs. A total of $100 million soon to be paid by government, not a self sustaining NB Power. On top of this the NB government loses $100 million per year from special payment by NB Power. So total increase in provincial debt over fist 5 years while residential rates are frozen is around $1.6 BILLION. Way to go Shawn, we can wait until year 30 to infinity to get that back. Put that in you assumptions and smoke it."


There is also a great article here: http://nbbusinessjournal.canadaeast.com/journal/article/864699 that explains how the new generation coming online in Quebec will be quite expensive compared to rates paid today by HQ customers and even cost more than rates paid by current NB Power customers. The days of cheap hydro are over.

Found this too, but don't know how to watch it " Monday night at 6pm on the Quebec run french news channel LCN there is a special about NB Power/Hydro Quebec. It will be interesting to see Quebec media's point of view!"