YELLOWKNIFE (May 11, 2016) – Minister Responsible for the Northwest Territories Power Corporation (NTPC) Louis Sebert announced today that the Government of the Northwest Territories (GNWT) will examine options for the future governance of NTPC as part of its ongoing work to address the high cost of living in the NWT.
As a first step, Minister Sebert has revoked the appointments of the current NTPC Board of Directors effective May 24, 2016. In their place, the Minister will appoint a new board made up of GNWT Deputy Ministers.
Appointing Deputy Ministers to the board will eliminate approximately $1 million in costs annually that are passed on to consumers as part of their electricity rates. These cost savings have already been factored into the interim General Rate Application (GRA) filed by NTPC on April 29, 2016.
“This decision is part of our government’s broader work to address the cost of living. The GNWT continues to provide a significant level of direct financial support to NTPC and the Auditor General has recently changed its accounting classification to recognize its more direct relationship to the government. Given these factors it is worth examining governance options for the Corporation.
Senior Cabinet Communications Advisor
Department of Executive
Tel: 867-767-9140 Ext. 11092