02 January 2011

Dunderdale admits financials are problem for Muskrat project

In an interview with NTV news, Premier Kathy Dunderdale admitted last week that costs for consumers are a sensitive political issue with the proposed Muskrat Falls memorial project to Danny Williams.

Dunderdale said that the provincial government is interested in a federal loan guarantee for the project because it would lower the interest rate Nalcor – the provincial government’s energy company - would have to pay to develop the project. She said that the provincial government would pass on any savings resulting from the loan guarantee to consumers.

Until now, Dunderdale has insisted that the project would be a financial boon to ratepayers in the province by keeping  electricity rates down from what they might be without the project.


- srbp -