Newfoundland to expropriate some AbitibiBowater assets
The provincial government will acquire the companyÂ’s ownership of hydro-electricity rights from the generating station at Star Lake, in addition to rights to harvest timber on government land, the news agency said, citing a statement today from Premier Danny Williams.
Assets to be expropriated do not include AbitibiBowaterÂ’s newsprint mill in Grand Falls-Windsor, Newfoundland.
Montreal-based AbitibiBowater announced December 4 it would close the mill, part of a plan to reduce costs as North American demand for newsprint declines.
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Nova Scotia's last paper mill seeks new discount electricity rate
HALIFAX - Nova Scotia Power is scheduled to appear before government regulators Tuesday morning seeking approval for a unique discount rate for its largest customer.
Under the four-year plan, Nova Scotia Power would control the supply of electricity to Port Hawkesbury Paper, with the right to direct the company to increase or reduce daily consumption throughout the year.
The rate proposal is supported by the mill, which says it needs to lower its power bill to keep its operation viable.
The rate went into effect on Jan. 1 on a temporary basis, pending the outcome of a hearing this week before the Nova…
