Thank you, Madam Chairperson. Very brief opening remarks concerning this bill. The amendments being proposed in this bill authorize the Public Utilities Board to enter into joint division with a Public Utilities Board of another jurisdiction.
It further ensures that the joint division of the two Public Utilities Boards can exercise all the duties and powers of the board.
This bill, along with the Northwest Territories Power Corporation Division Measures Act and the Nunavut Power Utilities Statutes Amendment Act, provide the legislative framework necessary to implement the Transition Agreement between the Northwest Territories and Nunavut with respect to the operation of the Northwest Territories Power Corporation.
It ensures the corporation will continue to be regulated in both Nunavut and the Northwest Territories during the transitional period and that this regulation will be done jointly by both territories. Thank you.