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David Raymond Amos‏ @DavidRayAmos

Replying to @DavidRayAmos @Kathryn98967631 and 49 others

Methinks it was interesting the Public Intervener offered no comment during the Battle Royale I had with NB Power's lawyer and his pals in the EUB hearing yesterday N'esy Pas?

https://davidraymondamos3.blogspot.com/2019/02/consumers-will-pay-for-nb-powers-debt.html

 

#nbpoli #cdnpoli


https://www.cbc.ca/news/canada/new-brunswick/nb-power-pay-debt-1.5008165

Consumers will pay for NB Power's debt one way or another, intervener says

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David Amos

Methinks its kinda comical that after a long day I hear nothing but crickets and one typical reply from a snobby Anglo dude who does not appreciate my using old English and Chiac in most of my comments However I am certain that the comedian turned PC Minister Mr Gauvin and his SANB friends understand my jokes N'esy Pas?

David Amos
"New Brunswickers will feel pain no matter how NB Power pays off its debt, and the only questions are how severe and how long-lasting the pain will be, says public intervener Heather Black."

Methinks that may be true Howeverer the lady said those words on the car radio and they made me laugh as I was heading to Saint John to argue her and her cohorts in the EUB as NB Power was trying to boot me out of another hearing about their rate hikes Obviously the transcript o the hearing yesterday easily proves that the Powers That Be in NB and elsewhere know that the fat lady ain't sung yet over that issue yet N'esy Pas?




David Amos

Methinks it was very interesting that after I listened to Public Intervener Heather Black talk on radio on the way to Saint John she offered no comment during the EUB Hearing yesterday as the NB Power's lawyer, the EUB and and their pals had a Battle Royale with me on the public record N'esy Pas?

 
Robert G. Holmes

Rate payers in NB and elsewhere; it's not only that Hydro Engineers seem to have lost their way, watch carefully for political fixing of the Accounts:

https://www.cbc.ca/news/canada/british-columbia/bc-hydro-deferral-accounts-at-5-5-billion-1.5008308

Remember Enron and Anderson Accounting, among other nefarious schemes to hid true costs.

David A

@Robert G. Holmes Trust that I have a long memory and keep very good records. Methinks folks should ask NB Power's and the Irving Clan's KPMG buddies why that is N'esy Pas?

  

Dave Peters

The cost overruns for our only Nuclear Plant power plant accounts for almost the entire debt NB Power holds taking interest cost into account. To my knowledge a public review on the cost benefits of this plant has not been performed. Poor management of the original infrastructure costs + the refurbishment costs have put this utility in the red. Why does this happen? Seems that it is a free for all once these projects are green lighted by the province. Better to shelve new infrastructure projects until we can figure out why construction costs are double what was budgeted for.

David Amos

@Dave Peters "The cost overruns for our only Nuclear Plant power plant accounts for almost the entire debt NB Power"

Nope Political interference is the problem

Fred Brewe

@Dave Peters
I could not agree more! Point Lepreau construction and refit both went way over budget and were years late in delivery. Coleson Cove refit and re-refit were the same. Why would we expect the Mactaquac refit to be any different? This utility has demonstrated that all of its mega-projects go way over budget and are delivered late.

Robert G. Holmes

@Dave Peters Agreed. Like Nl and the Muskrat Boondoggle, and BC with Site C Dam, Hydro Engineers have lost their way on Cost Engineering studies. The Irving Engineer should be capable of fixing this before the expected dam failures bring on more mega project overages.

David Peters

@Dave Peters

Wouldn't it be ill advised to hold off replacing or removing a crumbling dam?

David Amos

@David Peters Methinks we would save over 8 million loonies i we allow Mother Nature to do her job and in the "Mean" Time the old ire Chief and the loons could continue to enjoy the lake N'esy Pas?

 
Tobin Hamilton

I wonder why so many increases?? **see below**

https://www2.gnb.ca/content/dam/gnb/Departments/tb-ct/pdf/OC/PA15Emp.pdf

David Amos

@Tobin Hamilton Methinks its sick and sad that these snobby people who purportedly serve us are supported by taxpayers whose average income is about the minimum wage so both the husband and wife must work The bureaucracy has grown and things have changed for the worse for the other folks since Little Louie dreamed up equal opportunity N'esy Pas?

 
Paul Bourgoin

New Brunswick Consumers will pay for NB Power's debt, Now are we talking citizen consumers and Industrial consumers or Both?

David Amos

@Paul Bourgoin Take a guess

 
Fred Brewer

On another note, Hydro Quebec profits fell this year to $2.85 Billion. The previous year their profits were $2.86 Billion. That's $2,860,000,000 of profit. HQ consistently turns profits and have the lowest power rates in the country. Not bad for a government owned utility unlike our government owned utility.

David Amos

@Fred Brewer Methinks the reason the Quebeckers show a profit is because they are actually audited whereas NB Power is not N'esy Pas?

 
Wally Manza

We also need to raise government taxes and fees to rescue the city of Saint John from decades of fiscal mismanagement. I hear they lost another snow plow last week.

David Amos

@Wally Manza Methinks thou doth jest too much N'esy Pas?

 
Wally Manza

I think most people would want a 23% rise. Then we need to raise taxes and government fees very substantially to reduce our debt burden. We also need to raise taxes and fees to save or healthcare system which is burdened by lack of beds to store our elderly.

David Amos

@Wally Manza Methinks you should not make fun of the old folks such as I Some of us take such jokes not to well N'esy Pas?

Repair Guy

So if all the high priced C-level staff at NBPower are unable to figure out the market (i.e. so many 'unforeseen' costs) why are we paying them? If we are truly at the whim of circumstance what is the point of this keeping such feckless 'leadership'? Pay NBPower execs based on their ability to meet targets or get rid of them.

David Amos

@Repair Guy I agree

 
Greg Smith

I've said this time and time again; the impact of storms to NB Power's infrastructure and ability to consistently deliver electricity is entirely a function of managerial neglect. Trees don't grow to a height that can topple and damage lines overnight, and the fact that this was allowed to happen was a function of many years of management's decision to aggressively cut back on infrastructure maintenance spending. This is exactly what was expected to happen when you tie management bonus structure to the bottom line, and the end consumers should NOT be responsible for this poor decision making.

David Amos

@Greg Smith Methinks you should read what I have been saying time and time again N'esy Pas?

Greg Smith

@David Amos You mean the words "methinks" and "N'esy Pas"? Thanks, but I'll pass.

David Amos

@Greg Smith Why is it that I am not surprised?

  

David Peters

Only a gov't backed monopoly can get away with such obvious mismanagement.

Libertarian platform regarding Energy:

"2.3 Energy and Resources

While energy is needed to fuel a modern society, government should not be subsidizing any particular form of energy. We oppose all government control of energy pricing, allocation, and production."

https://www.lp.org/platform/

David Amos

@David Peters "Only a gov't backed monopoly can get away with such obvious mismanagement"

Mais Oui

 
Harold Benson

We need more than interveners, we need a gov't that will sell that outfit.

David Amos

@Harold Benson Methinks Sam should check my work N'esy Pas?

 
Mark (Junkman) George

Throwing more money into a bottomless pit is no answer. NB Power should ONLY be granted a rate increase when they can prove at least a minimum amount of efficiency. As things stand now too little is being done by too many.

David Amos

@Mark (Junkman) George YUP

 
Samual Johnston

NB power has over 2400+ employees and N.S. power has 1700 + employees

Perhaps we could stand to lose a few?

Marc Martin

@Samual Johnston

Not to defend NB power but the infrastructures and land to cover is 4 time the size of NS.

Fred Brewer

@Marc Martin
"Not to defend NB power but the infrastructures and land to cover is 4 time the size of NS."

Marc, you need a new calculator. NB has 72,908 sq/kms while NS has 55,284 sq/kms. How is that 4 times the size of NS? Or did you forget that Cape Breton is part of NS?

David Amos

@Fred Brewer Methinks the SANB needs a better spindoctor N'esy Pas?

 
Aaron Lagendyk

Should invest more in solar, wind, and tidal generators to save money on coal and nuclear fuel. Long term ROE sure but higher rates means we have less money to spend. My bill is already hundreds of dollars a month.

David Amos

@Aaron Lagendyk Methinks there is no need we already generate enough power for our needs N'esy Pas?

Marguerite Deschamps

On a positive note, with renewable energy, living off the grid looks more and more like an alternative option.

 

Samual Johnston

@Marguerite Deschamps looks better than it did but still way more expensive than grid power

David Amos 

@Marguerite Deschamps Methinks you are no doubt well aware byway of this interview the latest political boss of your favourite ex SANB president Mr Arseneau advised all interested New Brunswickers to intervene in the EUB 430 Matter if they could find the time.

https://www.cbc.ca/news/canada/new-brunswick/nb-power-crown-corporations-committee-1.4980763

As your cohort admitted yesterday my Roger Richard and I took the Watermelon Party's advice and did so. All government employees such as Mr Martin should know that the transcript of the first hearing will be available and downloadable from the EUB website shortly N'esy Pas?

https://www.cbc.ca/news/canada/new-brunswick/ambulance-lack-bilingual-staff-anb-1.5006740?__vfz=profile_comment%3D3305300018323

@David Amos "Methinks I should ask why nobody showed up at the EUB hearing today N'esy Pas"

@Marc Martin "You badgered us all week you where going, we placed all our fates in you...."









 
Ray Bungay

Why is how top heavy the management side is, is not being brought up by the Public Intervener? And why has the top of selling the utility off to the private sector not talked about. The point in part of these hearings is to set a price for energy, the profitability of the utility and the ability to fairly pay down the debt.

As I see it, charging a much higher charge to the majority of those in NB is not possible when you are demanding seniors and the working poor to pay more, those who are firm fixed incomes. Not easy to balance I am sure but the corp users must share in the pain not just home owners or apartment dwellers who cannot qualify for help to make their "homes" more air tight but are expected to pay the lion's share of the cost to fix the problem.

Shawn Graham had the right idea during his term in Government....SELL IT TO THE PRIVATE SECTOR!! This idea must and should be revisited ASAP!

Rosco holt

@Ray Bungay
You think the service/ cost that NBPower provides is bad now, you haven't seen it when given by the private sector

.

David Amos

@Rosco holt Oh So True

 
Dan Flanagan

This article is fluff. Who doesn't understand higher rate increases will pay down a debt faster than small rate increases? No where does it say what NBP's debt is. Come on CBC, this is just shoddy reporting. Lately I've noticed CBC tip-toeing around many issues. Tell it like it is.
I think their debt stands around $5 billion. That's about $6,500 for every man, woman & child. For a family of 4, that's $26,000. We are in a hole deep

David Amos

@Dan Flanagan This article is fluff.

YUP

 
Johnny Jakobs

What a joke!
NBPower aka NB mafia.
White collar crime.
Excuses for failed targets.
Pay someone 150k plus a year and they forget all about climate change?
What a joke!

NBers need to wake up and start speaking their voice.
If you think you are poor now, wait until your rates double within 5 years... that's what is coming.

David Amos

@Johnny Jakobs "What a joke! "

Welcome back to the circus

 
Joe Gallant

Over 100 employees at this poorly managed corporation make $150k per year and they wonder why they cannot get out of debt. Time to get the auditor general.

Joe Gallant

@Joe Gallant
Sorry I missed a zero in my number

David Amos

@Joe Gallant "Time to get the auditor general."

YUP

 
John Pokiok

This the same utility that few days ago had 130 million dollars to spend on "smart meters" now they crying how they in debt and they need more money what a joke.

David Amos

@John Pokiok Methinks Mr Higgs knows that my friend Roger Richard and I are not laughing after what we said on the PUBLIC RECORD during the EUB hearing yesterday N'esy Pas?

 
John Smit

Well it is the year of the pig. If you look up nepotism in the dictionary you will see the NB Power logo.

Rosco holt

@John Smit
I see the logo of the Liberals and PC in mine.LOL

David Amos

@Rosco holt Me Too

Methinks most folks would enjoy a photo of them battling over control of the pork barrel N'esy Pas?

 
Roy Kirk

The ratepayer and tax payers are different groups that pay in different ways. To the extent that NPR's financial woes are due to poor mgmt and political interference, it should be the tax payer and not the rate payer that ponies up.

Roy Kirk

@Roy Kirk nbp not npr

Shawn McShane

@Roy Kirk The rate payer is the tax payer and the government du jour borrows on behalf of NB Power and on-lends proceeds.

Came across this from a while ago, no date: NB Power – Debt Management Plan... Province will eliminate the payments in lieu of income taxes and Transco dividend payments that NB Power is currently required to pay to government to further reduce its debt burden. https://www2.gnb.ca/content/gnb/en/departments/erd/energy/content/energy_blueprint/content/debt_management_plan.html

David Amos

@Shawn McShane True

 
Shawn McShane

Jan 24, 2019 Siemens Canada, NB Power and Nova Scotia Power announce $92.7 million project...

"This partnership will be truly ground-breaking. Together with NB Power and Nova Scotia Power, we will develop and implement a powerful cloud-based Energy System Platform (ESP), allowing everyone to participate in the energy market," says Faisal Kazi, President and CEO of Siemens Canada.

Shawn McShane

"...while ensuring we protect our customers from the significant rate increases."

says Gaëtan Thomas

Rosco holt

@Shawn McShane
Which customers?

Not residentials....

Shawn McShane

@Rosco holt The customers in Nova Scotia lol

David Amos

@Shawn McShane Methinks that must be your idea of gallows humour N'esy Pas

 
Ron harvey Harvey

That sale to Quebec looks like it would have been the best deal ever as we continue to see the mismanagement of NB power

Alex Butt

@Ron harvey Harvey So true but I think that secretly they are happy they didn't get involved with this NB homegrown mess!

David Amos

@Ron harvey Harvey Methinks Mr Higgs et al know that I thought it was a great idea out of the gate N'esy Pas?

David Amos

@Alex Butt Methinks Quebeckers ain't that dumb N'esy Pas?

philippe m martin

NB power should have first curtail all employee benefits to a normal level of industry benefits offered,told them a few years back but no action. NB power was a cash cow for many in the past. So really what is really news here. The only answer is atlantic green energy, one corporate body , spinning 40% IPO on the market. but all provinces will have to pass laws to do this. so lets put them all responsible . pm

Pierre LaRoches

@philippe m martin better have a look at what utility workers make in other jurisdictions, you're advocating raises for everyone at NBP so they get to a normal level of industry.

David Amos

@philippe m martin "NB power was a cash cow for many in the past."

Methinks many would agree that it still is N'esy Pas?

 
Alex Butt

That's right, the NB government and mr thomas can waste and mismanage all they want, with no accountability or consequence and we pay for it. No wonder why New Brunswick's largest export is it's people.

David Amos

@Alex Butt Sad but true

 
Fred Brewer

Why is our public intervenor not questioning the need for 1,340 NB Power employees who each make over $100,000 per year? Why is she not demanding for internal cost savings before even considering drastic rate hikes. By not doing so, she is rewarding NB Power for its poor performance.

Rosco holt

@Fred Brewer
Why would she question the actions of her employer?

The public intervenor is more a title than anything else. She doesn't represent all those she suppose too equally.

Fred Brewer

@Rosco holt
If she is not truly independent then it is time for her to be fired. I am beginning to think that is the first step that is needed.

Rosco holt

@Fred Brewer
Yes, she isn't really independent when she defends the interests of the private sector (which is overly represented) over that of residentials customers who are used has sacrificial lambs.

David Amos

@Fred Brewer "If she is not truly independent then it is time for her to be fired."

Methinks you should ask yourself why she offered no comment after I raised some serious hell at the EUB hearing yesterday Anyone can download the transcript N'esy Pas?

Shawn Tabor

Yes, let the AG open the books. Should be made to open the books before raising the rates one dime.

David Amos

@Shawn Tabor YUP

David Amos

@David Amos I know you will like what I said at the EUB hearing yesterday

 
Shawn McShane

Open the books, how much has government taken from the utility?

David Amos

@Shawn McShane Check my work

 
cheryl wright

we should not have to pay a cent until they have opened the books and let the AG at them. trim within before asking more from us

David Amos

@cheryl wright I wholeheartedly agree

 
Shawn McShane

Public intervener says storms and other unforeseen costs have thwarted utility's debt-reduction plan but no mention on how much governments have siphoned from the utility? When NB Power was for sale it was said government had sucked billions. Same as British Columbia except the media there actually reported it: VICTORIA — The Liberal government is grabbing more than $1.7 billion in revenue from the Insurance Corp. of B.C. and BC Hydro over the next three years, on the heels of rate hikes

David Amos

@Shawn McShane Methinks you should ask Mr Higgs why he kept this Public Intervener N'esy Pas?

 
Paul Bourgoin

How much money does those sweet heart deals to clients in other provinces, the United States, and our own Industry who receives preference negotiated transactions behind closed doors for industrial customers. The cost to New Brunswick Residents who at the end of the day have to sacrifice their Family budgets to finance NB Power miss-management, or sweetheart benefits is questionable for favoritism and legality?

David Amos

@Paul Bourgoin Methinks you should ask the Auditor General to look into it N'esy Pas?

  

Gil Murray

Umm, public intervener = NB Power spokesperson. Seems a bit odd.

David Amos

@Gil Murray Welcome to the circus

  

Rob Franklin

Help me understand how "NB POWER" is repaying the debt if it's the customers' rates that are being jacked up to do it?

David Amos

@Rob Franklin They are not

 
June Arnott

Disgraceful how poorly this has been ran.

Rosco holt

@June Arnott
It's the political plan, screw NBPower up badly to "sell it".

David Amos

@Rosco holt Nope Methinks the politicians dearly love that old cash cow N'esy Pas?

 
Murray Brown

How about charging your non-New Brunswick customers the same prices you charge New Brunswick residents? That would be a start. Stop selling power cheaper to other provinces, the states and industrial customers and charge them the same rates you charge individuals within this province.

David Amos

@Murray Brown Methinks common sense is not permitted within the domain of NB Power N'esy Pas?

Consumers will pay for NB Power's debt one way or another, intervener says

Public intervener says storms and other unforeseen costs have thwarted utility's debt-reduction plan

Jordan Gill · CBC News · Posted: Feb 06, 2019 3:43 PM AT 

In 2011 the utility said it would pay down $1 billion in debt by 2025, but a mixture of problems has made that difficult. (Michael Heenan/CBC)

New Brunswickers will feel pain no matter how NB Power pays off its debt, and the only questions are how severe and how long-lasting the pain will be, says public intervener Heather Black.

NB Power has a responsibility to pay down its debt, something it has been trying to do since 2011, Black said on Information Morning.

In 2011, the utility said it would pay down $1 billion in debt by 2025.

Black said that goal was achievable in 2011, but it became more difficult to realize as time went on.

• NB Power behind on plan to pay down $1 billion in debt

• David Coon calls on NB Power to justify power rate increase to MLAs

• NB Power tells customers to ease pain of rate hikes with efficiency

"Since then NB Power has had a significant amount of trouble meeting its income targets, net income targets, and hasn't made progress towards debt reduction really."

Black cited a mixture of reasons for missing income targets, including unforeseen costs related to buying electricity, the Point Lepreau nuclear station, and storms.

Commodity prices, climate change

 

NB Power CFO Darren Murphy said commodity prices and climate change are two factors in the utility's inability to pay down the debt. (CBC)

At the legislature's standing committee on Crown corporations this week, NB Power CFO Darren Murphy said the projections in 2011 were made using commodity price data available at the time, but the information has significantly changed since then.

"As those prices change we see significant changes in our underlying costs," Murphy said.
Murphy told the committee that climate change has also played a role in the utility's ability to pay down its debt.

"We certainly did not have, built into those long-range plans, the idea that storm frequency and magnitude of the impacts would be as great as they are," said Murphy.

NB Power has asked permission from the Energy and Utilities Board for a yearly average rate increase of 2.5 per cent until 2029 to help the utility reduce the debt.

But documents NB Power filed with the board also point to a more drastic option to reduce the debt: a 22.3 per cent rate increase over five years.

Positives and negatives

 

Public intervener Heather Black said that until NB Power looks after its debt, it risks not having a cushion to look after unforeseen problems. (Robert Jones/CBC)

 Black said both options have negative elements.

The 2025 plan would have the unwanted effect of implementing a seep rate increase but would reduce the debt faster.

The 2029 plan would see a more subdued rate increase, but the utility would have to keep its debt longer.

"Until that reduction is achieved, rate payers still bear the risk of NB Power not having that cushion of equity to be able to be prepared for unforeseen things that happen or future expenditures," Black said.

This could lead to more erratic rate increases, she said, since NB Power will be reacting to unforeseen events without being able to absorb the costs.

With files from Information Morning Fredericton and Connell Smith

CBC's Journalistic Standards and Practices