Emera Inc. And Canadian Imperial Venture Corp. to Pursue Joint Opportunities
ST. JOHN'S, NF -- - Emera Inc. ("Emera") of Halifax, Nova Scotia and Canadian Imperial Venture Corp. (the "Canadian Imperial") of St. John's, Newfoundland announced today that they have agreed to pursue, jointly, certain energy-related business opportunities in Newfoundland and Atlantic Canada. Areas of focus include businesses related to Canadian Imperial's production activities in Western Newfoundland, energy industrial parks in Newfoundland and the application of ship-based compressed natural gas transportation systems in Atlantic Canada.
The joint activities will be managed by a committee consisting of Mr. Wayne Rousch, Senior Vice President Business Development of Emera and Mr. Steven Millan, Chief Executive Officer of Canadian Imperial.
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June electricity rates are due out on Monday, about four days after the new UCP government did away with the carbon charge on natural gas and vehicle fuel.
Part of the levy's revenue was earmarked by the previous NDP government to keep power prices at or below 6.8 cents per kilowatt hour.
"The Regulated Rate Option cap of 6.8 cents/kWh was implemented by the previous government and currently remains in effect. We are reviewing all…
