In New Brunswick we have a Public Intervener that intervenes in NB Power rate increase hearings and is supposed to be looking out for public interest and fight to keep rates low and stable. In this hearing however the public intervener hired an expert to review NB Powers rate application and he is suggesting the board put priority on NB Power profits over keeping rates low and stable and that NB Power should consider asking for even larger rate increases to make up for poor performance at Point Lepreau.
NB Power may need bigger rate increase, says intervener’s expert
We discovered that the whole basis of his evidence was based on his wrong interpretation of the Electricity Act. He interpreted the act in his evidence as saying “rates should be kept low as possible and should be stable and predictable” but the legislation ACTUALLY states “rates shall be maintained as low as reasonably possible and shall be stable and predictable” There is a huge difference in legal and regulatory meaning between should and shall. A Shall statement is a requirement and a Should statement is only guidance and is not a requirement.
To read our Interrogatories on the public interveners evidence click the link below.
Today New Clear Free Solutions requested that the Energy and Utilities Board not approve NB Power requested rate hike and asked them not to approve any salary raises for NB power executives until they come up with a better long term plan.
Click to read evidence.
Dear Ministers of the Environment
My name is Chris Rouse and I represent New Clear Free Solutions an environmental group based in New Brunswick. We have submitted both Provincially and Federally a carbon tax policy which publicly invests the carbon tax into renewable energy and continually reinvests a portion of the return on investment also into renewable energy until a renewable portfolio standard is reached. The reinvestment creates an ever growing amount of money to be able to transition to a very low carbon economy. This policy provides all of the capital needed to make the transition and changes the conversation from how much is this going to cost the Provinces to how much money can it make the Provinces.
In August 2016 the US Energy Information Administration released its 2016 Annual Energy Outlook. We have updated the Carbon Tax and Investment Plan using the latest cost and performance data from this report. The update also provides additional financial details and extended the detailed Integrated Resource Plan to include a 2060 Stage 2 Renewable Portfolio Standard for New Brunswick. This update also includes additional sensitivity analysis, and provides estimates for each Province and Territory and Canada as a whole.
Summary of Update
Link to full update
The Carbon tax will allow Canadians to invest in our abundant renewable energy resources with our provincially owned integrated electric utilities. This will stabilize our energy rates and provide billions each year in net profits for each Province. The transition to a low carbon economy is going to require billions in capital investments with an expected return on those investments. If the capital is debt financed or privately financed they will earn the billions in interest, if Canadians are allowed to invest, using the Carbon tax revenue, Canadians will earn the billions in interest. The decision to publicly finance or to private or debt finance the transition is arguably the most important decision that needs to be made.
I am happy to offer my assistance in developing a detailed integrated resource plan similar to the one I have prepared for New Brunswick for any of the Provinces or Territories. I would also like to offer a detailed presentation of the policy or answer any questions that you might have.
New Clear Free Solutions
Carbon Tax Plan Uses the Power of Compound Interest to Transition to 100% Renewable Energy
For Immediate Release
New Clear Free Solutions, a citizen based energy think tank, will be presenting a new Carbon Tax plan to the Select Committee on Climate Change. The Carbon Tax and Investment Plan (CTIP), takes advantage of compound interest to transition to 100% renewables. The select committee will hear New Clear Free Solutions at Delta Brunswick, 39 King Street, Saint John, N.B. at 5:00 in the evening, on September 7.
“It didn’t take us long to figure out that the key to a successful plan was harnessing the power of compound interest” said Chris Rouse, founder of New Clear Free Solutions. He began work on the CTIP following last year’s EUB rate hearings where he also participated as an intervenor. At that time, he was asked by EUB staff lawyers how he thought a carbon tax might be implemented. “The CTIP taxes carbon and then invests that tax into renewable energy. The revenue generated from the renewables is then continually reinvested to exponentially transition to 100% renewable.” said Mr. Rouse.
“This plan is much lower cost than other policies, and in the end, NB Power is debt free. The plan generates billions in extra revenue, and creates thousands of jobs for New Brunswickers.”
New Clear Free Solutions sought an outside opinion to critique their plan from UNBSJ Professor of Economics, Dr. Rob Moir. “The concept of reinvesting to create compound interest is well founded economic theory.” responded Dr. Moir “As such this policy should be seriously considered by all provinces and not only New Brunswick.”
Copy of Presentation
For more information, contact: Chris Rouse 506-650-0007 email@example.com
Recently there was a lot of press regarding a whistleblower letter from within the CNSC that pointed out 5 cases in which important safety information was withheld by CNSC Staff from the Commission Members about reactors in Ontario.
Today July 28 2016 I wrote to the Minister of Natural Resources, Hon Jim Carr, to explain that very similar incidents are occurring with regards to withheld information by the CNSC staff from the commission members about Point Lepreau.
To read the letter and attached Appendix describing the 5 cases and our recommended solutions follow the below link.
Letter-To Minister Carr From New Clear Free Solutions July 28 2016 + Appendix