Acts and Regulations

2013, c.7 - Electricity Act

Section 139
Disposition versions

Full text
Refurbishment of the Point Lepreau nuclear generating station
139(1)In this section, “project” means the project to refurbish the Point Lepreau nuclear generating station that began in 2008.(projet)
139(2)The Corporation shall maintain a deferral account that records the costs, expenses and offset amounts
(a) required to be recorded under subsection 143.1(7) of the Electricity Act, chapter E-4.6 of the Acts of New Brunswick, 2003, as that subsection read immediately before the repeal of that Act, and
(b) approved by the Board for the purposes of establishing the deferral account.
139(3)For the purposes of this Act, the project shall be deemed to be prudent and the costs and expenses recorded in the deferral account maintained under subsection (2) shall be deemed to be prudent and necessary to carry out the project.
139(4)The Board shall ensure that the balance in the deferral account, plus any financing costs incurred by the Corporation in relation to the balance in the deferral account,
(a) is recovered by the Corporation over the operating life of the refurbished Point Lepreau nuclear generating station, and
(b) is reflected in the rates charged by the Corporation in respect of the services referred to in section 102.
139(5)The amounts recorded in the deferral account maintained under subsection (2) and the financing costs referred to in subsection (4) shall be deemed to be part of the revenue requirements of the Corporation and shall be deemed to be necessary for the provision of the services referred to in section 102.
139(6)For the purposes of an application to the Board for approval of a change in rates for its services referred to in section 102, the Corporation shall present its revenue requirements in such a manner that the costs and expenses associated with the deferral account are shown separately from the other revenue requirements of the Corporation.
Refurbishment of the Point Lepreau nuclear generating station
139(1)In this section, “project” means the project to refurbish the Point Lepreau nuclear generating station that began in 2008.(projet)
139(2)The Corporation shall maintain a deferral account that records the costs, expenses and offset amounts
(a) required to be recorded under subsection 143.1(7) of the Electricity Act, chapter E-4.6 of the Acts of New Brunswick, 2003, as that subsection read immediately before the repeal of that Act, and
(b) approved by the Board for the purposes of establishing the deferral account.
139(3)For the purposes of this Act, the project shall be deemed to be prudent and the costs and expenses recorded in the deferral account maintained under subsection (2) shall be deemed to be prudent and necessary to carry out the project.
139(4)The Board shall ensure that the balance in the deferral account, plus any financing costs incurred by the Corporation in relation to the balance in the deferral account,
(a) is recovered by the Corporation over the operating life of the refurbished Point Lepreau nuclear generating station, and
(b) is reflected in the rates charged by the Corporation in respect of the services referred to in section 102.
139(5)The amounts recorded in the deferral account maintained under subsection (2) and the financing costs referred to in subsection (4) shall be deemed to be part of the revenue requirements of the Corporation and shall be deemed to be necessary for the provision of the services referred to in section 102.
139(6)For the purposes of an application to the Board for approval of a change in rates for its services referred to in section 102, the Corporation shall present its revenue requirements in such a manner that the costs and expenses associated with the deferral account are shown separately from the other revenue requirements of the Corporation.