NB Power Seeks Approval For New US Line

NEW YORK -- NB Power, the main energy company in New Brunswick, is seeking regulatory approvals to build a new 90-kilometer power cable to carry up to 1,000 megawatts of electricity between the province and the state of Maine.

NB Power hopes to complete the CAN$75 million line in 2005 or 2006.

"New Brunswick is a winter peaking system and New England is a summer peaking system. We have a tremendous opportunity to export power during the summer months," said Jeffrey Carleton of NB Power.

He explained that the company has more than 2,000 megawatts of generating assets in the southern part of the province that could produce power for export, including the 1,000 MW Coleson Cove plant, 265 MW of natural gas plants, the 600 MW Point Lepreau nuclear station and some 600 MW of hydropower.

On the US side, NB Power is talking with Bangor Hydro, a subsidiary of Nova Scotia's Emera Inc., and other parties to find a connection point for the cable in Maine.

Carleton said the new line will help strengthen the reliability of New Brunswick's grid by allowing the province to import, as well as export, power. Current lines out of the province are mostly full carrying exports to New England.

The line will also allow other energy firms to sell power into the province, enhancing local competition.

In other news, NB Power said it is still searching for equity partners for Coleson Cove project and it has just opened the search for partners for Point Lepreau.

Source: Reuters