Thank you, Mr. Speaker. I just want to be very brief so there's no misunderstanding for the public. The money that's going towards NTPC isn't necessarily to support their operations. This is a rate stabilization fund increase, Mr. Speaker, and that is really quite specifically because given the costs of fuel, which everyone's experiencing, the government experiences it too and Northwest Territories Power Corporation experiences those increases in rates -- or increases in fuel, that winds up being an added cost that was not built in to the rates during the last rate process. Therefore, now, they're facing costs that were built in at a dollar and suddenly are at a $1.50. That's a significant change, Mr. Speaker. Add to that that we are in a low water cycle therefore -- at the Snare facility when they have to burn diesel to make up for low water, firstly they're having to burn diesel to make up for the water and they're burning that diesel at the higher rate. So this wasn't an anticipated high cost and that's why it's coming in as a sup. In such circumstances, when the rates aren't set at that high number, a rider kicks in. The rider kicks in to ensure that, of course, that the corporation can remain viable by having the costs reflect -- for having people's rates reflect the costs. So, Mr. Speaker, rather than having individuals, residents, have to bear that rider right now, have to bear that increase, which if I recall correctly was between 20, 35 percent increase to people's rates, that's why this is before the House. I appreciate my colleagues' support on it but I did want to clarify it for the public why there is this significant amount there. It really is to ensure that the rider doesn't kick in and rates don't reach those kinds of levels. Thank you, Mr. Speaker.
Caroline Wawzonek on Bill 96: Supplementary Appropriation Act (Operations Expenditures), No. 1, 2023-2024, Carried
In the Legislative Assembly on June 2nd, 2023. See this statement in context.
Bill 96: Supplementary Appropriation Act (Operations Expenditures), No. 1, 2023-2024, Carried
Third Reading Of Bills
June 2nd, 2023
Page 6356
See context to find out what was said next.