NB Power gets burned by Venezuela again

NB Power is stuck re-negotiating another contract with a Venezuelan state-owned company after it reneged on a deal to supply the utility with coal earlier this year. This is the second time NB Power has been burned by a Venezuelan state-owned company. PDVSA left NB Power without an Orimulsion fuel supplier after the public utility spent hundreds of millions renovating the Coleson Cove power plant in 2002 without a signed contract. Venezuelan state-owned Carbozulia recently forfeited a contract to supply coal to NB Power, confirmed the manager of media relations with NB Power Heather MacLean.
'We're working out how the supply is going to happen. We're in discussions with them,' MacLean said. She confirmed that the company was the same one that Nova Scotia Power is considering taking to court after Carbozulia abruptly cancelled a coal contract with the electric utility. However, the issues involved were 'different,' MacLean said.