Former premier Shawn Graham says NB Power is a ‘political hot potato’

Former New Brunswick Premier Shawn Graham discusses NB Power.

As debates continue over NB Power’s debt and rates, former premier Shawn Graham says the utility has become a “political hot potato.”

“There are pretty big challenges with the utility right now,” Graham told CTV News Atlantic’s Todd Battis on Thursday. “New Brunswickers are feeling the pain and NB Power is feeling the pain.”

One of those challenges is the Point Lepreau Nuclear Generating Station, which recently announced it will be offline for a planned maintenance phase until August. Graham said the site, which was commissioned in 1983, is an “inefficient nuclear reactor.”

“A big albatross around the utility’s neck is Point Lepreau,” he said.

Another major issue for NB Power is its growing debt. Graham, who served as premier from 2006 to 2010, said his government looked at selling the utility in 2009, but noted, “that has sailed.”

“There’s no one in the marketplace looking to buy the asset,” he said.

Graham suggested the provincial government might have to turn to the federal government to take on $1.5 billion of NB Power’s debt.

“The government has to start building that case,” he said.

With files from CTV News Atlantic’s Nick Moore

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