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Hydro-Quebec Maritime Electric plan surfaced amid the NB Power sale, as WikiLeaks cited Jean Charest discussing PEI utility acquisition, wind assets, and environmental credits, though political backlash in New Brunswick ultimately ended talks.
What's Behind the News
Non-imminent talks to acquire PEI's Maritime Electric, tied to Hydro-Quebec's failed NB Power sale, focused on wind assets and environmental credits.
- 2009 NB Power $4.8B sale proposal sparked regional utility talks
- WikiLeaks note cited Jean Charest on PEI acquisition intent
- Targeted wind assets and environmental credits in PEI
- Robert Ghiz denied imminent sale; focus was power purchases
The Prince Edward Island utility Maritime Electric was part of the plans in Hydro-Quebec's purchase of NB Power, a document released last month by the whistle-blower website WikiLeaks reveal.
In October 2009, the New Brunswick government announced it was selling its electrical utility to Quebec. But the $4.8-billion deal was politically unpopular with many in New Brunswick at the time. The former Liberal government scaled down the proposal before it was eventually canceled in March 2010.
There were rumours at the time Hydro-Quebec intended to buy Maritime Electric as well. PEI Premier Robert Ghiz denied it and Maritime Electric said it knew nothing about a sale, while the opposition called for NB Power access guarantees to secure grid access.
But a document released by WikiLeaks shows discussions were serious, reflecting a regional power shift to Quebec at the time.
Most of the note, written by the American Embassy in Ottawa, refers to the proposed mega deal between Hydro-Quebec and NB Power. It outlines a discussion between Quebec Premier Jean Charest and U.S. Ambassador David Jacobson.
"Charest also told the Ambassador that Hydro-Quebec is planning to acquire the privately-owned Prince Edward Island power company," the document reads.
"The generating assets involved are quite small, but Charest said Hydro-Quebec would be also acquiring important wind assets and environmental credits."
When asked about the document, Ghiz told CBC News a deal was not imminent.
"It might have been discussed in passing, but our focus at the time was to purchase electricity from Hydro-Quebec. Now, if they had ended up purchasing New Brunswick Power, well that would have opened up the door for them to look at Maritime Electric," Ghiz said.
When the Hydro-Quebec deal with NB Power fell through it ended any potential discussions between Quebec and PEI.
Shawn Graham's Liberals were defeated handily in the September 2010 New Brunswick election.
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