Mr. Chairman, in regards to the Northwest Territories Power Corporation, effective April 1, 1992, the Corporation became fully regulated by the Northwest Territories Public Utilities Board. Until then the government was directly responsible for setting the rates charged by the Corporation to its customers. As a self-sustaining entity, the Corporation does not receive government funding, rather it returned in 1991-92 to a shareholder the government of the Northwest Territories, $2.709 million by way of a dividend.
For the year 1992-93 it is expected a dividend in excess of $3 million will be paid to the government.
In the fiscal year 1992-93, the Corporation plans to continue its program of repairing and replacing its capital assets. Considerable progress has been made in respect to the last few years, however, much remains to be done. The Corporation has identified areas where plant replacements will be constructed in a more cost effective manner. The corporation continues to search for alternatives to diesel fuelled electrical generation. It has commissioned studies on hydro locations from the Sylvia Grinnel River on Baffin Island, the Coppermine River to the Snare River northwest of Yellowknife. Further, it is cooperating with the Science Institute on wind generation and photo projects in various locations.
In terms of day to day operations, the corporation is focused on improving the efficiency of its operations, through acquisitions of more fuel efficient engines and technological advances, in engine monitoring. The corporation expects to see reduced consumption of both litres of fuel, and also of staffing time. Thank you.