Vancouver Forum: Throne speech to start NB Power deal debate - Vancouver Forum

The final session of the legislative assembly before the 2010 election will start on Tuesday with the proposed sale of NB Power expected to dominate the debate in the coming months.

Lt.-Gov. Graydon Nicholas will read his first throne speech since his appointment, outlining the agenda of Premier Shawn Graham's Liberal government at 3 p.m.

The speech will likely outline several agenda items that the Liberal government intends to wrap up before the Sept. 27, 2010, election but those issues will all likely be secondary to the passage of the sale of the majority of NB Power's assets to Hydro-Québec.

Progressive Conservative Leader David Alward has promised that the opposition will do whatever it can to stall the proposed legislative changes that will allow for the sale. Alward's Tories have demanded that Graham take the proposed deal to the polls first.

Graham and Quebec Premier Jean Charest have signed a memorandum of understanding that will sell the majority of NB Power's assets to Hydro-Québec for $4.8 billion, which will immediately cleanse the New Brunswick utility of its debt.

The deal also provides for a five-year rate freeze for residential ratepayers and an immediate cut in power prices for large industrial consumers to the levels paid in Quebec. The Liberal government estimates the rate package is worth an additional $5 billion in savings.

The legislative assembly will appoint on Tuesday a special committee of MLAs to examine the proposed deal and report back to the legislative assembly on new regulatory legislation that will allow for the sale by Jan. 15.

New Brunswick's politicians will then have until March 31 to pass the legislative amendments. Graham has said repeatedly if the Opposition Tories stall the debate into April, NB Power's customers will be hit with the three per cent rate hike that has already been promised.

http://www.cbc.ca/ca...bpower-530.html