The Board of Directors
of the Northwest Territories Power Corporation requested that the Executive
Council rescind its direction to the Board of Directors to withdraw
its one-rate zone Application for the following reasons:
The Board of Directors
of the Northwest Territories Power Corporation believes that implementation
of a one-rate zone pricing structure is vital for the long-term viability
of the Corporation, and for its ability to provide safe, reliable power
to the benefit of the citizens of the Northwest Territories.
The Northwest Territories
Power Corporation submitted it’s Phase II of the General Rate
Application as ordered by the Public Utilities Board. The Corporation
chose to apply for a one-rate zone pricing structure for the reasons
stated above. The Public Utilities Board is mandated and authorized
by current GNWT legislation to oversee the public review process for
this Application, and this process is well underway.
The Board of Directors
of the Northwest Territories Power Corporation believed the regulated
review process should continue, and did not consider it appropriate
to withdraw the Application at this late stage.
The Executive Council
denied the Boards request to rescind the above noted direction, and
will be revoking all appointments of the present Board of Directors
of the Northwest Territories Power Corporation.
The Board of Directors
wishes to thank the Corporation’s management and staff for their
diligence, support, and hard work in moving the Corporation forward.
The Board Chairman,
Mr. Gordon Stewart said, “It has been a pleasure to work with
such a dedicated and loyal Board of Directors”. He further added,
“ The vision, dedication, and hard work of the Members certainly
has the Corporation pointed in the correct direction to attain the great
potential that is in the future for the NTPC.”
