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Monday, November 9, 2009

Mayor Takes Wait and See Approach to Proposed NB Power Sale

The mayor of Quispamsis is playing it safe when it comes to responding to the province's proposed sale of NB Power assets to Hydro-Quebec. Murray Driscoll tells CHSJ news there are pros and cons of the deal, including the elimination of a very large provincial debt.

Driscoll says power rates will likely go up over time, as they would normally, but he's not worried about a sudden spike after the five-year rate freeze under the deal is over.