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Hydro-Quebec takeover of NSP unlikely, NDP says

The NDP government is anxious about Quebec Hydro taking over NewBrunswick Power, but say laws prevent a similar takeover in Nova Scotia.

The NDP government is anxious about Quebec Hydro taking over New Brunswick Power, but say laws prevent a similar takeover in Nova Scotia.

According to the Globe and Mail, Quebec Hydro is not satisfied with the $10-billion takeover and is eyeing Nova Scotia Power as well.

But Energy Minister Bill Estabrooks told reportersThursday that likely can’t happen because the 1992 Nova Scotia Power Privatization Act prevents a group outside of Nova Scotia from owning more than 25 per cent of the utility.

Estabrooks said the NDP would be wary of any takeover attempt.

“The concern comes back to the fact that as Nova Scotians, we want to be in charge. We want to have as much input into our own utility here locally so that we make sure they’re putting the best interest of Nova Scotians at heart,” Estabrooks told reporters following Thursday's cabinet meeting.

The law has never been tested and Estabrooks said the government is waiting to hear back from lawyers to see if a takeover could be possible.

He also said the NB Power sale will impact Nova Scotia but it wasn’t yet clear how.

“Not having seen the details, the concern we’ve always had in Nova Scotia is a regional approach to this key issue of power rates and the best that we can offer to Nova Scotians,” he said.

 
 
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