Opposition misunderstands Muskrat Falls
March 6, 2012
Opposition Parties Continue to Display a Lack of Understanding on Muskrat Falls
Natural Resources minister Jerome Kennedy today expressed his disappointment with the members of both Opposition parties in the House of Assembly for a continued lack of understanding on the development of Muskrat Falls, in particular options considered to address our province’s energy needs, and project costs.
“Despite the amount of information publicly available on Muskrat Falls, members of the opposition continue to demonstrate ignorance when it comes to the facts of the project,” said Minister Kennedy. “Instead of making an effort to become informed about Muskrat Falls, they have chosen to disregard the facts about the need for power and practical options to address our energy needs.”
A number of alternative practical supply options for generation sources to meet the Island’s long-term electricity needs have been examined, and it has been determined that the development of Muskrat Falls with the Labrador-Island Transmission Link is the least-cost option to supply electricity consumers in the province. This is supported by independent reviews conducted by Navigant, Manitoba Hydro International (MHI), and Dr. Wade Locke.
The $6.2 billion Muskrat Falls development will include $2.9 billion for the Muskrat Falls Generation Station, and $2.1 billion for the Labrador-Island Transmission Link. Nalcor has built in a 15 per cent contingency into the cost to address potential cost overruns.
“Our approach to making a decision on project sanction will be to consider all questions, recommendations, and information available,” said Minister Kennedy. “Planning for future electricity needs is critical, and we must take action to ensure we have reliable, affordable, electricity for the people of our province. Muskrat Falls provides us with an opportunity to provide a secure clean energy future for the people of our province, and we will take the necessary steps to make a responsible decision when it comes to development. As a government we will be guided by one simple question – is Muskrat Falls in the best interests of the people of Newfoundland and Labrador?”