NB Power Changes:
Further to the last blog, I'm also watching the situation with NB Power closely. As my regular readers know, i'm not a huge fan of the way this utility has been run in recent years. We do recieve cheap power all things considered, but that should be the main goal anyway, considering it's a crown corp. and not a private company. Granted, we don't want it to loose money, but there is no need of excessive profits either, as we are the stakeholders here not private shareholders. It really stuck in my craw that these guys would have balls enough to come into a PUB hearing whining about loosing money, all the while they collect handsome bonuses.
This is the list for NB Power from the Press Release:
*the utility must appear before the PUB every three years to publicly outline its programs;
*the cancellation of NB Power's management-bonus program for employees;
*the practice of estimating power bills is ended; (EDIT: This one REALLY REALLY pissed me off while it was in effect)
*the utility must find savings of $20 million internally, which will include a review of the ranks of senior management;
*NB Power must continue to actively and aggressively pursue its legal action against the Venezuelan oil companies over the Orimulsion issue; and
*the utility will step up its activity on finding diversification in its fuel sources, including moving more quickly on installing 400 megawatts of wind power in the province.
That line about saving $20 million internally worries me a bit though. No doubt they can find it and do it, but from the past we should note they have a habit of cutting things like maintenance of the Power Grid, and the plants to help achieve these goals. Hopefully the government will keep an eye out to make sure it's handled properly..
This is the list for NB Power from the Press Release:
*the utility must appear before the PUB every three years to publicly outline its programs;
*the cancellation of NB Power's management-bonus program for employees;
*the practice of estimating power bills is ended; (EDIT: This one REALLY REALLY pissed me off while it was in effect)
*the utility must find savings of $20 million internally, which will include a review of the ranks of senior management;
*NB Power must continue to actively and aggressively pursue its legal action against the Venezuelan oil companies over the Orimulsion issue; and
*the utility will step up its activity on finding diversification in its fuel sources, including moving more quickly on installing 400 megawatts of wind power in the province.
That line about saving $20 million internally worries me a bit though. No doubt they can find it and do it, but from the past we should note they have a habit of cutting things like maintenance of the Power Grid, and the plants to help achieve these goals. Hopefully the government will keep an eye out to make sure it's handled properly..
