N.L. hydro project help questioned
Newfoundland and Labrador and Nova Scotia have asked the federal government for a loan guarantee to help with the $6.2 billion project at Muskrat Falls.
At a federal Senate energy committee hearing in Halifax, B.C. Conservative MP Richard Neufeld said it would be "great" if the federal government would underwrite loans for electrical generation in all provinces.
"Why Nova Scotia doesn't underwrite the $6.2 billion project itself?" he asked.
Nova Scotia Premier Darrell Dexter responded that the borrowing rate for Ottawa is much lower than it would be for his province.
In November, N.L.'s Crown-owned Nalcor Energy and Nova Scotia's Emera Inc. agreed on a $6.2 billion plan to generate 824 megawatts of power at Muskrat Falls on Labrador's Churchill River.
According to the deal, electricity will be moved first to Newfoundland with much of it later relayed through Nova Scotia by underwater cables.
In February, Newfoundland and Labrador Premier Kathy Dunderdale said she expects an answer from Ottawa in March regarding the request for a loan guarantee.
The project to harness power from Muskrat Falls in Labrador was billed by former Newfoundland and Labrador premier Danny Williams as one of the last large green energy projects in North America.
Prime Minister Stephen Harper did not make any promises when he visited St. John's in February.
Related News
UK Lockdown knocks daily electricity demand by 10 per cent
LONDON - Daily electricity demand in Britain is around 10% lower than before the country went into lockdown last week due to the coronavirus outbreak, data from grid operator National Grid showed on Tuesday.
The fall is largely due to big industrial consumers using less power, the operator said.
Last week, Prime Minister Boris Johnson ordered Britons to stay at home to halt the spread of the virus, imposing curbs on everyday life without precedent in peacetime.
Morning peak demand has fallen by nearly 18% compared to before the lockdown was introduced and the normal morning peak is later than usual because the…
