Government is once again contributing to the Good Neighbour Energy Fund, administered by the Salvation Army. The fund offers financial assistance to low-income families to heat their home in emergency situations. Last winter, 1,757 households received assistance through the fund. Nova Scotia has provided significant assistance to the program every year since 2008. Government is providing up to $800,000 to the fund, with funding to be paid in two separate installments of $400,000 depending on need. The Salvation Army will receive an initial $400,000 in funding and the program will be assessed later to determine if additional funding is required to support ongoing emergency need. “For almost two decades the Salvation Army has been running the Good Neighbour Energy Fund to help Nova Scotians who are facing emergency situations with heating their homes,” said Service Nova Scotia Minister Mark Furey. “The Salvation Army’s excellent work administering the fund speaks to their reputation for caring for those in need. The government of Nova Scotia is pleased to support this essential and important work.” To receive support, an applicant must not have received assistance from the program for two years. This year, the eligibility was reduced from three years to two years to help more low-income families. “The province’s contribution will help keep Nova Scotians warm this winter,” said Major Alison Cowling, divisional commander for The Salvation Army Maritime Division. “We are grateful to have government as partners and thankful for the hope they are giving those in need.” The Good Neighbour Energy Fund runs from Jan. 15 to April 15. For more information, go to www.salvationarmy.ca/maritime/gnef/. Nova Scotians may also be eligible for the Heating Assistance Rebate Program to help with up to $200 toward home heating costs. Go to www.homeheatinghelp.ca for more information. The Salvation Army is an international Christian organization that began its work in Canada in 1882. It offers practical assistance for children and families, often tending to the basic necessities of life, providing shelter for homeless people and rehabilitation for people who have addictions in 400 communities across Canada and more than 120 countries around the world.
CALGARY — TransCanada Corp., the Calgary-based energy company, said in its quarterly results that it agreed to sell its 62 per cent stake in five wind farms in Quebec’s Gaspe peninsula to Innergex Renewable Energy Inc. for about $630 million.The Cartier wind power facilities currently have a total generating capacity of 590 megawatts and Innergex says the long-term plan is to generate approximately 1,780 gigawatts — enough to power about 80,900 Quebec households.The electricity produced by the wind farms is sold under existing agreements at fixed prices for terms of 20 years with Hydro-Quebec.Innergex said it expects the acquisition to generate revenues of approximately $82.9 million.The sale is subject to closing conditions and is expected to close in the fourth quarter of 2018.Following the sale, TransCanada said it will continue to be one of Canada’s largest private-sector power generators, producing enough power to meet the needs of more than six million homes.TransCanada also reported that second-quarter profits fell by 11 per cent.Net income attributable to common shareholders amounted to $785 million, or 88 cents per share, down from $881 million, or $1.01 per share during the same period in 2017.The most recent quarter included an $11 million after-tax loss related to the winding down of U.S. Northeast power marketing contracts.Revenue totalled $3.2 billion, largely in line with last year.Excluding that impact and adjusting for other items, earnings amounted to 86 cents per share, up from 76 cents per share in the year-ago quarter.That beat analysts expectations for adjusted earnings of 75 cents per share, according to Thomson Reuters Eikon, as 2018 results included projects that recently entered service and the positive impact of U.S. tax reform.The company projects that earnings and cash flow will continue to rise amid new projects entering service, strong market fundamentals and maintenance capital spending advancing as planned.TransCanada declared a dividend of 69 cents per share for the quarter ending Sept. 30, and expects annual dividend growth between eight to 10 per cent over the next few years. read more