While lots of people were busily cheering Friday’s announcement of a federal loan guarantee for Muskrat Falls, they probably noticed a small but very significant detail.
The loan guarantee doesn’t exist until Emera decides to sanction the Maritime Link. Under the agreements announced earlier this year, Emera has until July 2014 to opt in to the Maritime Link. Until that happens, there is no loan guarantee for anyone.
That doesn’t mean that Newfoundland and Labrador will will put everything on hold until then. Nosirreee.