Jul 20, 2012. /Lesprom Network/. The Nova Scotia Supreme Court has granted NewPage Port Hawkesbury another extension to their creditor protection period. The mill now has until August 31, 2012 to wrap up the sale and transfer of the mill’s assets to Pacific West Commercial Corp., as ForestTalk reported. Meanwhile, the hearings at the Nova Scotia Utility and Review Board continue today. The power rate reduction that Pacific West Commercial Corp. is asking for will give the company among the lowest, if not the lowest, power costs in North America for a 7 year period. If Nova Scotia Power and Pacific West Commercial Corp. have underestimated the amount of power required to operate the mill, then the ratepayers of Nova Scotia will be on the hook, and will have to subsidize the power costs of the mill. Ron Stern, CEO of Pacific West Commercial Corp., said he will walk away from the deal if this rate proposal is not approved as is. “Unless the Port Hawkesbury mill can become a very low-cost operation, it simply will not succeed,” said Stern. The review board hearing will continue all week. The rate reduction proposal must also be approved by the Canadian Review Agency because Nova Scotia Power, as part-owner, is hoping to claim a tax write-off for the mill’s losses, as compensation for its reduction in power costs. The province of Nova Scotia is spending $100,000 a day to keep the plant hot-idled.