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## 19.Joint Ventures 

The Corporation and National Grid USA each own 50% of the outstanding shares of Canadian Niagara Power. Both companies share equally in management and earnings. In addition, Fortis Properties owned 50% of the common shares of Brunswick Square Limited until December 14, 2000 at which time the remaining 50% was acquired (Note 17). The Corporation, through its wholly owned subsidiary, Central Newfoundland Energy, has entered into a joint venture with Abitibi-Consolidated Inc. to redevelop additional capacity at two of Abitibi-Consolidated Inc.GLYPH<213>s hydroelectric plants (Note 22). The project is under development and there has been no impact on earnings in the current year. 

The effect of the proportionate consolidation is summarized as follows: 

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