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Sunday, June 28, 2009

Rate Hike Justified

The Energy and Utilities Board says N-B Power's three percent rate increase which took effect April 1st is justified.
But -- in a report to Energy Minister Jack Keir -- the Board is taking exception with some of the timing of some of the financial forecasts used for budget decisions related to the increase.
The utility is expected to lose 67-million dollars in the current fiscal year even with the three percent increase.

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