Thank you, Mr. Speaker. I’d like to ask some questions to the Minister of the NWT Power Corporation. Oddly enough, it’s not actually on rates, so those concerned can feel comfortable it’s not about that or, yeah, those who can feel a little at ease.
Late last year we were given the terribly shocking news that the government may have to look at bailing out the potential rate rider that would have carried about $20 million on the Power Corporation, and that would have been about $10 million each year. Since that time of the experience that led us to the particular problem, oil prices have significantly dropped.
My question for the Power Corporation Minister is: It was banked on that it was approximately $10 million each year to cover the shortfall through the generation of power, so I’d like to know what type of analysis is being done, because I guess we gave approval for $20 million, $10 million each year, to be spent to make up that shortfall in power. I guess we don’t need all that particular money, so what type of watch is happening, how much money are we actually saving from that initial $10 million each year that we gave them to spend? Because if you’re not spending it, I’d like to know what’s happening to it.
Thank you, Mr. Hawkins. The Minister responsible for the Northwest Territories Power Corporation, Mr. Miltenberger.
Thank you, Mr. Speaker. We will spend what is needed, so the volume will depend on the temperature. For example, when I came in here Tuesday from Fort Smith, it was about 40 below, and when I came over the hill every smokestack at Jackfish was going flat out with a great big plume of smoke, so it depends on the consumption.
There have been some projected savings with the cost of diesel. Diesel hasn’t come down as much as the price of oil. We’re tracking that. We’ll account for every penny and litre that we use and burn on an as required basis.
Ten million dollars has not gone into the NTPC coffers. It will only be done based on actuals and invoices, so it will all be accounted for, and we’re paying very close attention to that projected savings.
Once again, depending on the cold and what’s happening with fuel prices, it could be in the neighbourhood of $900,000 or maybe $1 million, but again it depends on a number of factors that we don’t control. Thank you.
Any savings is certainly good. Usually when Members approve a supplementary appropriation, we usually say goodbye to the money because we never see it again. The issue really is about accounting, and I’m glad to hear it’s going to be drawn down by bills and actuals.
When can the territorial residents and, more particular, when can the Members see the accounting of at least this first year? It’s difficult to predict next year, but when can we see the accounting and results of that particular money, because we want to make sure this money is being spent on what it’s intended for. Who knows where it goes once we give approval to it and that’s really the issue.
I would just like to clarify for the record for my young colleague for Yellowknife Centre, that a point of fact is when supplementary appropriations are voted on, we do see them, we see them visible all around us. They help us provide services to adults down south for health. They help fund projects. They help move money forward in the budget, so we can do the Tuk-Inuvik highway. Every cent that we put into supplementary appropriations and approve in this House is visible and brings added value to the Northwest Territories.
With regard to the Members, if there’s a wish, we can pull together an accounting today, if you’d like, but we’d be more than happy to meet with committee. I understand there’s a meeting coming up with the Power Corporation with the committees. We can have them make sure that they have that information at hand for committee members. Thank you.
Knowing the rules of the House as I do, I can’t speak to a specific example made in committee once, but the deputy minister said if they have money left over for a particular initiative, they just keep it. So that’s the point of this exercise and why I’m asking about this particular money, to make sure it’s accounted for properly. If all the money isn’t required – we went on good faith to support it – we’d like to see what isn’t used and returned to the good balances of the people of the Northwest Territories.
As far as reporting it, I’d be personally satisfied if you could report it when it’s completed in the cycle of the season. Thank you.
Once again to my young friend from Yellowknife Centre, my political life exceeds his by a couple of months and I can say to him with some certainty, plus some time in government, the rule that I’ve seen is the Legislature has been very careful all along that they always coffer the money. One of the conditions in the FMB that comes to the House is the money is spent on what it is voted for and if you don’t use it, it goes back. If you want to change the use, then you have to ask. So I will make sure that the staff of NTPC are ready to address the issues when they meet with committee. Thank you.
Thank you, Mr. Miltenberger. The honourable Member for Hay River North, Mr. Bouchard.
