26 October 2009

NL and the NB Power story: the facts

For the benefit of those who keep using the Premier’s comments on the NB Power story, here is what is really going on, in the words of natural resources minister Kathy Dunderdale:

We know that if you come in here as an equity player that you have to have a good return on your investment. And we want you to have a good return on your investment. But it also has to be a good deal for the people of Newfoundland and Labrador. Now we have been with that message back and forth [i.e. to Hydro-Quebec] for five years. No, sir. No, sir. There is no takeup on that proposal.


That’s right.

Danny Williams wants Hydro-Quebec to have a good return on its investments.

In this case, it was a good return in exchange for owning a piece of the Lower Churchill.

So what is the pseudo-racket all about?

It might all be irrelevant by tomorrow evening.