New Brunswick Premier Shawn Graham confirmed in the legislature Wednesday morning that his government will not sell NB Power's generation assets to Hydro-Québec.

The New Brunswick government had planned to sell NB Power's generation assets to Hydro-Québec for $3.2 billion.

"That is why it is with so much regret that I am announcing this morning that we are no longer proceeding with discussions to finalize the energy agreement with Hydro-Québec," Graham told the legislature.
Timeline

Oct. 29: N.B. Premier Shawn Graham and Quebec Premier Jean Charest announce $4.8-billion energy deal.

Nov. 17: Liberal government's throne speech pushes NB Power deal.

Jan. 18: CBC News reports three Liberal cabinet ministers and two MLAs would not vote for NB Power deal.

Jan. 20: Graham announces energy deal scaled back to $3.2 billion.

Jan. 26: NB Power president David Hay resigns with more than two years left in his contract.

Feb. 1: David Ganong's expert panel endorses energy deal.

Feb. 5: Liberal MLA Stuart Jamieson resigns as tourism minister after demanding a referendum on the deal.

March 24: Graham confirms NB Power deal is off.

"I continue to believe that the agreement proposed in October and the amendments inspired by New Brunswickers that we brought forward in January were in the best interests of our province.

"However, over the past several weeks as we worked to take that agreement and turn it into a full legal document, Hydro-Québec has asked for changes to the agreement that would have unacceptably taken away some of the value and increased some of the risks for New Brunswickers."

Graham said he believes the proposed agreement that was announced in October and revised in January was in the best interests of New Brunswickers.

He said he has no regrets in pushing the power deal.

"There are no guarantees in life. You can't win every time you take the field," Graham said.

"But you can never succeed from the sidelines. I will not retreat to the sidelines just because this didn't work out."
Premiers meet

Graham met with Quebec Premier Jean Charest on Tuesday to discuss the changes that were being proposed to the energy deal.

The New Brunswick premier said Hydro-Québec found out in its research that there were more risks than they were willing to take on.

"This change in their position meant that the terms of our agreement in principle could not be met. Our government could not accept that," he told the legislature.

Graham said the New Brunswick government will "take a moment to take a step back" and consider what should be done with the utility.

"We may have closed the door on an energy agreement with Hydro-Québec. But I know that new doors of opportunity have opened before us," Graham said.

"We will not look back, we will keep moving forward because that is what we were elected to do and that is what we must do to grow our province."

Progressive Conservative Leader David Alward said the government's decision to quash the agreement is a victory for all of those people who fought the deal.

"This is a wonderful day for democracy in New Brunswick," Alward said.
Several setbacks

The Liberal government has faced a series of embarrassing setbacks throughout the approximately five-month period since the first power pact was announced.

Graham initially faced a backlash from Newfoundland and Labrador Premier Danny Williams and Nova Scotia Premier Darrell Dexter over how the proposed agreement could affect their ability to get access for their electricity into the power-hungry New England market.

Early in the new year, three cabinet ministers and two MLAs told Graham during a caucus meeting that they would not vote for the original power deal. Two days later Graham announced the revised energy agreement with Hydro-Québec.

Under the deal, Hydro-Québec would have acquired most of the province's power-generation assets, but New Brunswick would maintain control of transmission and distribution.

New Brunswick's residential ratepayers were to get a five-year rate freeze. Medium-sized industries would have seen a roughly 15 per cent cut in power rates and large industrial customers a reduction in power prices by roughly 23 per cent.

The new agreement did not keep the peace long inside the Liberal government.

Graham asked Tourism and Parks Minister Stuart Jamieson to quit cabinet on Feb. 5 over his insistence that a referendum be held over the NB Power deal.

Liberal MLAs and cabinet ministers faced a barrage of protests outside of their constituency offices and there were at least two protests that gathered more than 1,000 people on the lawn of the legislature in Fredericton. Opponents to the proposed deal also held public forums to debate the deal and possible alternatives to selling the Crown corporation.

The most recent Corporation Research Associates poll indicated 55 per cent of New Brunswickers were dissatisfied with the Graham government.

这个NB Power的风波应该算是结束了吧

Quebec Premier Jean Charest told reporters Wednesday his province pulled out after its power utility found unanticipated risks and costs related to matters like dam security and water levels.

这届Shawn Graham领导的自由党政府从上台执政开始便是风波不断。UNBSJ，医疗保健系统，早期法语教育和销售NB Power~~~ 这些事情估计会严重影响到自由党的形象，这也会影响到9月选举。能否控制议会多数席位或者是否继续再执政4年，对于Shawn Graham领导的自由党政府的压力会更大。