Hay River (Feb 16/04) - In spite of recent concerns, Northwest Territories Power Corporation (NTPC) chair Richard Nerysoo said the company has no plans to move its headquarters out of Hay River.

Nerysoo made that fact very clear when he appeared at a special meeting of town council late last month.

Without even being asked about the status of the headquarters, Nerysoo said there would not be a move.

"That's never been our intention," he said.

He acknowledged there may have been some concern in Hay River when the NTPC established a subsidiary -- NWT Energy Corporation (2003) Ltd. -- and began operating out of Yellowknife.

The overall goal is to grow the power corporation, said Nerysoo.

"It's not to diminish it," he said.

The rumour mill had been spinning for about six months on the future location of the NTPC, said Hay River councillor Robert Bouchard.

"Mr. Nerysoo put those rumours to rest," Bouchard said, showing obvious relief.

Having the NTPC headquarters here is very important to the town, said the councillor.

"It's a feather in our cap to have the power corporation in Hay River," he said.

The town would like to attract more such headquarters, said Bouchard.

Nerysoo was part of a delegation appearing before council to outline the corporation's ambitious vision for future hydro development in the NWT, including a project on the Taltson River.