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The following is being distributed at the request of the Consumer Advocate, Dennis Browne Q.C. Newfoundland Power fails in attempt to deny financial information to consumer advocate The financial information sought by the consumer advocate included the company's financial results for 1997 and projections for 1998 and 1999. The consumer advocate also sought information pertaining to the company's operating expenses and labour costs. Newfoundland Power argued before the board that the information sought by the consumer advocate was not relevant to the hearing. The board, however, found the consumer advocate's requests both focused and relevant. The company must provide the consumer advocate with the information as requested on or before April 15, 1998. Consumer advocate Dennis Browne stated: "These actions by Newfoundland Power indicate that the company is going to make this case a difficult one for consumers. The Power Company should come to accept the fact that the economy has changed and experts are stating that the rate of return should be reduced to less than nine per cent. Therefore, consumers collectively will have to pay $8 - $10 million less to Newfoundland Power this year." The rate hearing continues on May 25, 1998. For further information, contact: Dennis M. Browne, Q.C., Telephone: (709) 754-1800, Facsimile: (709) 754-2701, E-Mail: mgk@roadrunner.nf.net 1998 04 09 4:45 p.m.
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