Yellowknife (Oct 27/03) - NWT Power Corp. won't disclose the cost of feasibility studies for a proposal to supply electricity to De Beers diamond mine at Snap Lake.

Peter Watt, spokesperson for the Power Corp., said engineering and environmental studies into the proposed $150 million project are being treated as a private "business expense" and may never be made public.

Watt said the cost of the studies would not be recovered through power bills, but will be paid from the Power corporation's retained earnings. NWT Power is a Crown corporation.

Its earnings are what remain after the territorial legislators collect dividend payments on behalf of taxpayers.

The dividends are used to subsidize electricity costs.

NWT Power and its partners in the proposed project, Akaitcho Regional Investment Corp. and the South Slave Metis Economic Corp., expect the studies will be complete "sometime next year," Watt said.