N.B. Power tempest brewing

Article Abstract:

Rumors that Hydro-Quebec is interested in acquiring all or part of New Brunswick Power Corp. is not immediately attractive to government officials of New Brunswick, Canada. A recently launched task force on the future of the power industry in the province reported that the Fredericton, New Brunswick-based utility is incurring losses and debts because it is the only government-controlled utility in the country to sell electricity for less than the cost to produce it. Selling part or all of N.B. Power may not be immediately attractive to politicians in the province but it may be preferable to dealing with the financial trouble taking shape inside the utility or the unavoidable pressure to increase rates or obtain funding from the government to improve the company's financial status.

Comment:

Rumors that company is interested in buying all or part of New Brunswick Power Corp is not immediately attractive to politicians

Asset sales & divestitures, Acquisitions & mergers, Electric Utilities, Electric Power Generation, Transmission and Distribution, Hydro-Quebec, New Brunswick Power, Article

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Future of Sysco in hands of N.S. cabinet

Article Abstract:

Nova Scotia's Economic Development Minister Manning MacDonald will propose the infusion of another C$20 million in provincial funds into financially troubled Sydney Steel Corp. The financing would enable a Dutch consultant to continue to find a buyer for the steel company. Dutch steel maker Hoogovens is currently managing Sydney Steel, which has already taken up C$2.8 billion public funds since Nova Scotia acquired it in 1967.

Receipt of funds, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Sydney Steel Corp.

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