Iqaluit (Oct 09/00) - The Nunavut territorial government has finalized the power corporation's first budget.

"The board has approved a $49.7-million budget for operations, including a $7-million capital budget," said Nunavut Power Corp. president and CEO Rick Blennerhassett in press release.

The Nunavut Government announced last November it would set up its own power corporation, separate from the NWT Power Corp.

Blennerhassett, who was previously with the NWT Power Corp., as well as Nunavut Power Corp. board members David Simailak of Baker Lake, Elissapee Sheutiapik of Iqaluit and Edward Picco, minister responsible for the corporation, recently toured the utility's head office in Baker Lake.

The corporation also has an administrative centre in Iqaluit.

The board, which also includes Simon Merkosak of Pond Inlet and Dennis Lyall of Taloyoak, and staff of Nunavut Power Corp., is aiming for transition from the NWT Power Corp. to the Nunavut Power Corp. April 1, 2001.

Part of the preparation includes a training program in Baker Lake. Blennerhassett was not immediately available for comment.