Thank you, Mr. Ballantyne. I would like to remind the Member that I am not a Madam.

---Laughter

Would the Minister like to respond to Mr. Ballantyne's question? Return To Question 28-12(7): NWTPC Rate Stabilization Fund

Mr. Speaker, the specific question Mr. Ballantyne is asking is with regard to planning for a calculation of unanticipated costs relating to the charges necessary when the environment doesn't allow for enough water to run a hydro system. Mr. Speaker, a stabilization fund was not set up because the rate of return did not allow enough to be able to absorb the expenses incurred in trying to reach our commitment of providing infrastructure to communities, including the upgrading of the Snare Yellowknife system and the dividends paid to the territorial government for a subsidy of power. Thank you, Mr. Speaker.

Thank you, Madam Premier. Mr. Ballantyne.

Supplementary, Mr. Speaker. My apologies, Mr. Speaker. In the PUB report there is an unusual section which condemns the Power Corporation for not showing due diligence in setting up a stabilization fund. So, my question to the Minister is, when did the Power Corporation apply for a stabilization fund to the Public Utilities Board?

Madam Premier.

Madam Speaker, Mr. Speaker, sorry. Mr. Speaker, what I have indicated is that the rate of return that was allowed for the NWT Power Corporation in the past did not allow enough revenue to create a stabilization fund, although it was contemplated over a year ago, or earlier than that. There wasn't enough money by the time the Power Corporation had worked on infrastructure and had paid to the territorial government the subsidization for power. The rate of return only allowed for that, Mr. Speaker.

Thank you, Madam Premier. Mr. Ballantyne.

Thank you, Madam, Mr. Speaker. We are so used to this, Mr. Speaker, it will take us at least another day to get used to you being in the chair and then we won't be here, probably. But, I will try to remember. Supplementary, Mr. Speaker. That didn't really answer my question. The Public Utilities Board is not able to read the minds of the Power Corporation. The Public Utilities Board, as I said, in quite an unusual part of the decision, condemned the Power Corporation for not exercising due diligence. As far as I'm aware, the Power Corporation hadn't specifically asked for the ability to set up a stabilization fund.

My question to the Minister is, can the Minister assure this House and assure the power consumers of the Northwest Territories that, in fact, a rate stabilization fund will be set up so that users in this particular system -- and it's their system -- will never again have to face an unacceptable high increase that they're facing today. Thank you, Mr. Speaker.

Thank you, Mr. Ballantyne. Madam Premier.

Mr. Speaker, I don't know if the Member wants me to answer the two questions that are in his statement or his preamble. I'm not quite sure how I can be more specific. Maybe he can be more specific on exactly what the question is.

Thank you, Madam. All you're required to do is make a response to a question. Your final supplementary, Mr. Ballantyne.

I would be quite happy if the Minister answered my preamble, my example and my question. I would be happy for all three. But if the Minister only wants to answer one, will the Minister ensure that the Power Corporation sets up a rate stabilization fund so that the power users of the Snare system will never again have to face such an unacceptably high increase in one year? Thank you, Mr. Speaker.

Thank you, Mr. Ballantyne. Madam Premier.

Mr. Speaker, in discussions with the Power Corporation, I can make one assurance. However, the problem in trying to answer the question of it never happening in the future...I can't predict nor can the Power Corporation what extremes can happen in the future. However, within reasonable variances, I can assure the Member that it is the intent of the Power Corporation to set up a stabilization fund. Thank you.

Thank you, Madam Premier. Next on my list is Mr. Koe.