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Thursday, September 8, 2011

NB Power Makes Record Profit

Some good news but also some bad news from NB Power.

It's reporting a $67-million profit but also recording more debt.

NB Power's debt went up by $197 million mostly because of spending $344 million on the Point Lepreau refurbishment project.

Ed Barrett, who chairs the NB Power board, vows further cost savings will be sought in 2011-2012.