I find the Globe and Mail's online comment boards particularly depressing. Rarely do I read anything other than lots of partisan hacks accusing each other of partisan-hackery. But this guy, who ever he is, is smart. Here's what mystery commentator-man says about NB Power Sale, the sequel (coming soon to a political theatre near you):
When it comes to Plan B, the devil will definitely be in the details. The political about-face on the ownership of the grid is a major victory for New Brunswickers who were justifiably concerned that the original deal would have compromised provincial sovreignty and deprived future governments of any control over rates in the long term.
Moreover, the original deal would have excluded New Brunswickers from any upside economic opportunities that would come from its prime geographic location with respect to markets in the northeast. Worse still, the deal could never have been undone - in effect, Graham would have forever alienated a birthright of future generations.
That said, there is still no guarantee that the amended package will put all these issues to rest. If anything, it will be inherently more complex from a legal and administrative point of view than the original. It is one thing, for example, to guarantee Hydro Quebec access to the New Brunswick grid for purposes of delivering power to customers within the province, it is something else again to extend that guarantee for power wheeled from Quebec to US states. How is that to be valued and administered in the long term?
HydroQuebec will obtain load-levelling economies as a result of its larger installed capacity; but what mechanisms will be put in place to ensure that the prioritization of demand favors local residents and not the export market? Do not underestimate the complexity of this deal. There are yet many, many unanswered questions and New Brunswickers will need to remain vigilant. The number of schedules to this agreement and the need for extensive scrutiny from both a legal and operational viewpoint will no doubt push the old target date way back.
Quebecers will win and New Brunswickers will lose if Graham rushes the detailed negotiation and vetting process in order to prevent it from slipping into the next administration - an administration I am willing to bet will not include Shawn Graham.
Well said, fintip....
1 comment:
Very well said indeed. Just how do they go about the issue that Hydro Quebec will in essence own the assets that generate the power, the commodity that is demanded on the world markets, not the transmission lines as much per se. The simply economies of supply and demand will dictate where they direct the generated power long term, and owing the lines that it travels on is only the small piece of the pie. Best idea, scrap the whole thing, and find someone that has the guts, know how, and ability to properly guide NB Power out of its hole, with some vision for the longer term effects. I should have been a lobbyist - lol
JFC
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