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NB Power

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This is an old revision of this page, as edited by Bouchecl (talk | contribs) at 16:18, 6 January 2010 (translation of the historical section from fr:Énergie NB - 1st part). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Énergie NB Power
Company typeGovernment-owned corporation
IndustryElectricity generation, transmission and distribution
FoundedApril 29, 1920 (1920-04-29)
Headquarters
Fredericton, New Brunswick
,
Canada
Area served
New Brunswick
Key people
David D. Hay,
President & CEO
ServicesElectricity
RevenueC$1.453 billion (2009)[1]
C$104 million (2009)[1]
C$70 million (2009)[1]
Total assetsC$5.190 billion (2009)[1]
Total equityC$310 million (2009)[1]
OwnerGovernment of New Brunswick
Number of employees
2,699 (2008)[2]
Websitewww.nbpower.com

NB Power (French: Énergie NB), formerly known as New Brunswick Power Corporation and New Brunswick Electric Power Commission is an electrical utility in the Canadian province of New Brunswick. NB Power is a Crown Corporation wholly owned by the Government of New Brunswick and is composed of a holding company and 4 sub-companies: NB Power Distribution and Customer Service, NB Power Generation, NB Power Nuclear, and NB Power Transmission.

History

The development of the electricity industry in New Brunswick started the 1880s with the establishment of small private power plants in Saint John, Fredericton and Moncton. Over the next 30 years, other cities successively electrified, so much so that in 1918, more than 20 companies were active in the electricity business, which left the province with wildly differing levels of services and prices. In Saint John for instance, the rates fluctuated between 7.5 to 15 cents per kilowatt-hour, depending on the location and the monthly consumption.[3]

Recognizing the important role that electricity was about to play in economic development, Premier Walter E. Foster proposed the creation of an provincially-owned electric company. The Legislative Assembly passed a bill to that effect. The New Brunswick Electric Power Commission was created on April 24, 1920. Immediately, the commission, headed by its first president, C. W. Robinson, launched the construction of a C$ 2 million hydroelectric dam at Musquash, west of Saint John. To supply the cities of Saint John, Moncton and Sussex, a 88 miles (142 km) long high voltage power line was also built.[4]

The new earth dam was completed on time, in 1922. But it could not withstand the 1923 spring flood and collapsed,[4] an accident which shattered a bit of confidence in the new commission. The building of a larger facility in Grand Falls, upstream on the St. John River, was undertaken in 1926 by a subsidiary of International Paper Company and completed in 1930.[4] Electricity demand increased during that decade and more generation facilities were required to supply the province. The commission decided to take advantage of coal resources in the Minto area and built a plant near the mines. The Grand Lake generating station was commissioned in 1931 and then expanded five years later.[5]

Operations

Following the deregulation model, the company was subdivided in 2004 with the future aim of selling off the various components (privatization). NB Power functions as a regulated monopoly and serves all the residential and industrial power consumers in the province, with the exception of those in Saint John, New Brunswick; Edmundston, New Brunswick and Perth-Andover, New Brunswick who are served by Saint John Energy, City of Edmundston Electric and the Perth-Andover Electric Light Commission respectively.

NB Power supplies electricity to Maritime Electric in Prince Edward Island through a sub-sea interconnection cable on the floor of the Northumberland Strait, and imports/exports from/to Nova Scotia via Canada's first electrical interconnection between two provinces.

NB Power also has interconnections to Maine and Quebec and imports and exports to those regions.

In October 2008, NB Power Holding Corporation was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc., and was featured in Maclean's newsmagazine.[6]. In 2009, NB Power became the first electric utility to be recognized by the National Quality Institute by being awarded a Healthy Workplace Award.

Deal with Hydro-Québec

On October 29, 2009, the premiers of New Brunswick and Quebec signed a memorandum of understanding[7] to sell most assets of NB Power to Hydro-Québec. This deal would transfer most generation, transmission and distribution assets of the New Brunswick utility to a subsidiary of the Quebec-based Crown corporation, including the Point Lepreau Nuclear Generating Station and 7 hydroelectric plants, but would exclude fossil-fuel fired plants in Dalhousie, Belledune and Coleson Cove.[8] According to the memorandum of understanding, Hydro-Quebec would not assume any liabilities with respect to the Point Lepreau refurbishment project.[9] The deal also includes provisions to reduce industrial power rates at the levels offered by Hydro-Québec to similar customers and a 5-year rate freeze on residential and commercial rates. This controversial deal is subject to review and approval by the New Brunswick Legislative Assembly.[8]

Generating stations

NB Power Generation is operating 15 generating stations, with a total generating capacity of 3,324 MW[10] . It generated 15,946 GWh of electricity in 2006/2007.

Thermal

Coal
Diesel
Oil

Hydroelectric

Nuclear

Transmission

NB Power Transmission Tower

NB Power Transmission owns and operates 68,015 km of transmission lines throughout the province, ranging in voltage from 69 kV to 345 kV. It transmitted 18,734 GWh of energy in 2006/2007 across its transmission lines.

Financial results

Financial Data 1998-2009 (year ending on 31 March)
millions of Canadian dollars[1] [2] [12] [13] [14] [15]
2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Revenue 1,453 1,712 1,512 1,585 1,403 1,311 1,273 1,319 1,309 1,248 1,204 1,140
Net earnings (Net losses) 70 89 21 96 9 (18) (77) 20 (78) 17 (423) (21)
Dividends declared 13 11 10 12 5 0 0 0 0 0 0 0
Total assets 5,190 4,686 4,151 3,969 3,874 3,729 3,387 3,236 3,298 3,464 3,666 4,197
Long term debt 3,051 2,891 2,869 2,655 2,459 3,217 2,999 2,530 2,950 2,795 3,019 3,104

Governance

Current members of the board of directors of NB Power are: Ed Barrett, Norman Betts, Graham Brown, Francis McGuire, Patrice Merrin Best, Bernard Cyr, Eloi Duguay, Leon Furlong, David Hay, Lise Caissie, Normand Caissie, and Jane Fritz.

Notes and references

  1. ^ a b c d e f NB Power (2006). NB Power Combined financial statements 2008-2009 (pdf). Fredericton. p. 68. Retrieved 2009-11-17.{{cite book}}: CS1 maint: location missing publisher (link)
  2. ^ a b NB Power (2008). Annual report 2007-2008 (pdf). Fredericton. Retrieved 2009-10-29.{{cite book}}: CS1 maint: location missing publisher (link)
  3. ^ NB Power (1990). "In the beginning - electricity comes to New Brunswick" (pdf). Retrieved 2010-01-06.
  4. ^ a b c NB Power (1990). "The nineteen twenties - the early years" (pdf). Retrieved 2010-01-06.
  5. ^ NB Power (1990). "The nineteen thirties - from hydro to coal" (pdf). Retrieved 2010-01-06.
  6. ^ "Reasons for Selection, 2009 Canada's Top 100 Employers Competition".
  7. ^ MOU between Quebec and New Brunswick (pdf). 2009. Retrieved 2009-10-31.
  8. ^ a b "Quebec, N.B. strike $4.8B deal for NB Power". Canadian Broadcasting Corporation. 2009-10-29. Retrieved 2009-10-29.
  9. ^ "Hydro-Quebec to acquire NB Power assets". World Nuclear News. 2009-10-30. Retrieved 2009-10-30.
  10. ^ Not including Point Lepreau, which is currently offline.
  11. ^ Currently offline for the Point Lepreau Generating Station Refurbishment Project.
  12. ^ NB Power (2006). Annual Report 2005-2006 (pdf). Fredericton. p. 68. Retrieved 2009-10-31.{{cite book}}: CS1 maint: location missing publisher (link)
  13. ^ NB Power (2004). Annual Report 2003-2004 (pdf). Fredericton. p. 60. Retrieved 2009-10-31.{{cite book}}: CS1 maint: location missing publisher (link)
  14. ^ NB Power (2002). Annual Report 2001-2002 (pdf). Fredericton. p. 62. Retrieved 2009-10-31.{{cite book}}: CS1 maint: location missing publisher (link)
  15. ^ NB Power (2000). Annual Report 1999-2000 (pdf). Fredericton. p. 32. Retrieved 2009-10-31.{{cite book}}: CS1 maint: location missing publisher (link)
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