According to a new commentary on the Muskrat Falls project by Memorial University economist James Feehan, legislation passed in December 2012 shields Newfoundland and Labrador Hydro from competition, thereby “reducing efficiency and innovation and preventing wholesale access to American consumers” by violating the open market principles on which the American electricity market is based.
Feehan concludes that potential gains for the province and consumers from unimpeded trade and the development of a competitive market will be blocked.
“Instead, Island ratepayers will be forced to pay for this expensive project, whatever the cost.”
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