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Monday, August 15, 2011

NEB received $58.5 million from regulated companies in 2010

The financial statements of the National Energy Board (NEB) disclose that the amount the regulator received from regulated energy companies in 2010 to cover the costs of its operations was more than $58.5 million.  This marked an increase of more than $5 million over 2009 "regulatory" revenues.  Note 3 to the financial statements explains that the federal government initially funds the expenses of the NEB through annual Parliamentary appropriations, but that the majority of the expenditures are recovered through the companies regulated by the NEB in payments back to the government.  Expenditures in 2010 included more than $45 million for salaries and employee benefits. 

Read the financial statements at: National Energy Board.