March 01, 2015 7:31 AM ET

Electric Utilities

Company Overview of New Brunswick Power Corporation

Company Overview

New Brunswick Power Corporation generates and sells electricity in Canada. The company generates electricity from various sources, such as hydro, coal, oil, and nuclear, as well as diesel-powered generating stations. It serves residential, commercial, wholesale, and industrial customers through a network of approximately 20,815 kilometers of distribution lines and substations, and 6,849 kilometers of transmission lines. New Brunswick Power Corporation was founded in 1920 and is headquartered in Fredericton, Canada.

515 King Street

PO Box 2000

Fredericton, NB E3B 4X1

Canada

Founded in 1920

2,350 Employees

Phone:

506-458-4444

Key Executives for New Brunswick Power Corporation

Chief Executive Officer, President and Director
Chief Financial Officer and Vice President of Corporate Services
Vice President of Shared Services and President of NB Coal Limited
Chief Technology Officer and Vice President of Engineering
Chief Nuclear Officer and Site Vice President
Compensation as of Fiscal Year 2014.

New Brunswick Power Corporation Key Developments

New Brunswick Power Holding Corporation Presents at Canadian Hydropower Association Forum 2014, May-27-2014

New Brunswick Power Holding Corporation Presents at Canadian Hydropower Association Forum 2014, May-27-2014 . Venue: Fairmont Château Laurier, 1 Rideau Street, Ottawa, Ontario, Canada. Speakers: George Porter.

NB Power Announces Executive Appointments

NB Power announced five new members to its board of directors who bring a wealth of experience in the energy sector, in the nuclear industry and in finance. The directors were selected using a new independent recruitment process outlined in the Electricity Act. The new directors include Judith Athaide, Charles Firlotte, Mark Reddemann, Barbara Trenholm, and Mike Wilson. Ms. Athaide has more than 20 years of experience, and success, in the energy industry and in a wide range of for-profit and not-for-profit governance roles. She is currently the President and CEO of The Cogent Group Inc. Mr. Firlotte is the President & CEO of Aquarion Water Company in Bridgeport. He previously held Director, Vice President, Senior Vice President and Chief Operating Officer positions in both the United States and the United Kingdom for the Kelda Group. Mr. Reddemann is the Chief Executive Officer for Energy Northwest. Mr. Reddemann has held a variety of roles within the nuclear industry throughout his career, including Engineering, Supervision, Management and prior to his role at Energy Northwest in Vice Presidential roles within the Nuclear Management Company in Minnesota. Ms. Trenholm continues to teach locally and internationally on a part-time basis after her retirement in 2008 and appointment as a Professor Emerita in 2009. Her teaching and educational leadership has been widely recognized. Mr. Wilson is the CEO for the Atlantic Industries Limited (AIL) Group of Companies.

Energie NB Power Reports Unaudited Consolidated Earnings Results for the Year Ended December 31, 2013

Energie NB Power reported unaudited consolidated earnings results for the year ended December 31, 2013. For the year, the company reported revenues of $1,200 million against $1,158 million a year ago. Loss before special payments in lieu of income taxes was $15 million against earnings before special payments in lieu of income taxes of $76 million a year ago. Net loss was $15 million against net earnings of $57 million a year ago. Cash operating activities was $183 million against $96 million a year ago. Expenditure on property, plant and equipment, net of customer contributions was $130 million against $257 million a year ago. Year-to-date free cash inflow was $53 million compared to the prior year's free cash outflow of $161 million. The $214 million increase in free cash flow is a result of a reduction in the current year's capital spending requirements and a reduction in the need for replacement energy costs since the Point Lepreau Generating Station's return to service in November 2012.

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