demonstration organized by the group and trade unions drew approximately 600 people outside the Legislative Assembly building on November 17, 2009. A Leger Marketing opinion poll conducted on behalf of Quebecor Media newspapers in New Brunswick and Quebec in November 2009 showed that 60% of New Brunswickers polled opposed the proposed sale, while 22% supported it. After months of controversy, New Brunswick and Quebec representatives signed a second agreement in January 2010, reducing the scope of the sale. Under the revised agreement, the sale would have transferred NB Power's hydroelectric and nuclear power plants to Hydro-Quebec for C$3.4 billion. The government of New Brunswick would have retained the transmission and distribution divisions of NB Power, and the Crown corporation would have entered into a long-term power purchase agreement (PPA) with Hydro-Québec. The PPA would have allowed NB Power to deliver the rate freeze for residential and general customers. However, the industrial rates rollback would have been smaller than under the original MOU. On March 24, 2010, Premier Graham announced the failure of the second agreement due to Hydro-Québec's concern over unanticipated risks and costs associated with matters including dam security and water levels. This interpretation was contested by analysts, who blamed the collapse of the deal on the political situation in New Brunswick. Corporate structure The future of NB Power has been a concern of successive New Brunswick governments for the past 15 years. The Liberal government of Raymond Frenette published a consultation document in February 1998 to find solutions to ensure the sustainability of NB Power in the twenty-first century. Valuation Shortly after taking office in 1999, the Conservative government of Bernard Lord commissioned TD Securities to conduct an assessment of the company's viability. The study, whose findings were published in 2009, suggested four scenarios: the status quo; a sale to a strategic buyer; privatization through a share offering; or splitting the utility into separate elements. The report valued the company at between $C3.6 and $C4.5 billion. This number however was very strongly contested by those familiar with the value of telecommunications rights of way and smart grid-based services, energy-related and otherwise, who considered the distribution network to have very much more value. These arguments were to be repeated often in the 2009-2010 NB Power controversy. Between 2001 and 2004, the Lord government spent C$3.2 million to retain the services of CIBC World Markets and Salomon Smith Barney in