28 January 2012

Bad Sign 2: Muskrat Falls financials #nlpoli #cdnpoli

The Telegram’s Russell Wangersky dissects Nalcor’s claim for Muskrat Falls electricity costs in the Saturday paper.

It’s simple.

It’s concise.

And, most importantly, you can understand it without being a math whiz.

What you see are the holes in Nalcor’s submission to the public utilities board.  You can also see information that was readily available to Wade Locke.  He ignored it for some reason. 

As a result, Locke’s lengthy presentation turns out to be even weaker than it first appeared.  Your humble e-scribbler didn’t even come close to describing the inadequacies of Locke’s recent assessment.

What you will also see are the fundamental concerns so many people in the province have about Muskrat Falls and the rush to build it.  The cost of the project is enormous, the rationales are flimsy and the people who will inevitably pay for it are the taxpayers of this province.


Jerome Kennedy tweeted a bit this week.  One of his claims was about the rate for the average consumer would pay.  Kennedy’s numbers – taken from Nalcor – just don’t add up.  Wangersky’s column makes that pretty clear as well.

Read what Russell says.

Read all of it.

And then look again at all the news about Muskrat Falls this week.

If your blood isn’t running cold in your veins at that point, you must have the electric blanket turned up on bust.

- srbp -