Nalcor Energy CEO will update Muskrat Falls 'as soon as I can'

Ashley Fitzpatrick
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Nalcor president and CEO Ed Martin

Says schedule and cost are under review

The Nalcor Energy hydroelectric project at Muskrat Falls sits at a $7.65-billion capital cost.
But at the Crown corporation's annual meeting in St. John's Thursday, president and CEO Ed Martin could neither confirm nor deny that number as the final tally.

He was also asked about the in-service date.

"Right now we are into the process of looking at that again," he told reporters, during a break in proceedings at the Holiday Inn.

He said there are commercial considerations in the way when it comes to speaking about the project cost and schedule right now.

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The capital cost being applied to the project at this point is based on an update provided to the public in September 2015.

At that time, Martin described delays in construction, particularly with the main powerhouse.

"That will have schedule implications, I've been clear on that. And with schedule implications, there will be some cost implications," he said this afternoon.

He said Nalcor is conducting a review in addition to the management review from EY, the latter being commissioned by the new Liberal government.

He was asked if he would be able to comment on the numbers when the province releases the EY findings, if they come before Nalcor’s own work is completed.

"Well I think we'll have to work with the province on that particular answer," he said.

He suggested a project update would be provided before the end of the first half on 2016.

Organizations: Nalcor Energy CEO, Holiday Inn.He

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Recent comments

  • kev
    March 29, 2016 - 13:06

    The originally cut the PUB out of the process. Now they say that the PUB will be a part of the rate-raising process. I hope that the PUB doesn't approve any rate increases at all. I wonder if the PC Party can be made to pay for this mess...

  • JasonD
    March 29, 2016 - 09:49

    Well I feel better.....

  • Sam
    March 29, 2016 - 07:28

    Where are all the Danny boy, Muskrat Falls supporters now? They scorned those that came out against this boondoggle of a project. This was rammed down our throats because Danny wanted to pound his chest and say "we did it". Well guess what, yes you darn well did do it and now we're stuck with the tap and there's no end in sight yet. Perhaps that genius Steve Kent or constable Davis can offer up some reassurance that all will be fine. Those two twits will sit in the house and have the gall to criticize this project that they both supported. The less fortunate in our province will suffer dearly for the folly of the previous governments. Disgusted!

  • Doug
    March 29, 2016 - 07:25

    It doesn't really matter to Martin. If/When he does get the boot, he'll get a package that will make the loot dished out by city hall in their retirement packages look like peanuts.

  • Kevin
    March 28, 2016 - 13:57

    Get with it Dwight, Mr. Muskrat has to go faster than BLUNDERDALE WENT. There will be a lot of people freezing in the upcoming winter months and NOBODY but the previous PC government to blame along with the rat himself, Ed Money Man Martin. Shame on you all for destroying this province and its people.

  • Me
    March 28, 2016 - 11:25

    Mark my works..... we will be paying a minimum of $0.20/kWh, we will be the highest in the country.... I don;t know if we should blame Ed Martin for that or Danny Williams, but I firmly blame Martin for letting Quebec reap the benefits of the project..... I will not go to the media with it yet as there is a little glimmer of hope of getting some work out of it, but when I know that the small window I have left is closed, i will be letting the cat out of the bag.....

  • Me
    March 28, 2016 - 07:46

    Maybe what Mr. Martin should do is make sure that local companies are getting supported on this project instead of Quebec companies, the CNLOPB should be involved in this project to look after local content requirements... and I am speaking from experience....

  • Duffy
    March 26, 2016 - 09:24

    Stop worrying about the costs as it does not matter. NL will have to declare bankruptsy anyway because Mr. Nalcor under the direction of Danny and his crew that came later underestimated the project which is not needed anyway. Why - one can only guess.

  • Samuel J.
    March 25, 2016 - 19:55

    'Ed Martin could neither confirm nor deny that number..' Something of a tongue in cheek question, wasn't it Ashley. Remember the days when Martin and his political masters were so certain of their numbers? When their sock puppets like John Smith would denounce anyone who doubted this could be done on time or on budget? And so now we're into a crap shoot. "We're looking at that again" is a Martin euphemism for "We haven't got a g-d clue but we know the number will be really, really big." Perhaps Atlantic Lotto can introduce a region wide office pool. I got dibs on $13.666 Billion - only because, like the project itself, the number combines rotten luck with more devilish stuff from the Book of Revelations. "…there will be some cost implications", said Martin. Ya think?

  • TJ
    March 25, 2016 - 15:37

    How does this guy still have a job? Dwight Ball needs to wake up from his long sleep. FIRE THIS IDIOT!

  • Political Watcher
    March 25, 2016 - 12:50

    And when he provides that update he should have Williams, Dunderdale and Davis by his side to remind us all once again just how good of a project this really is.

  • gb
    March 25, 2016 - 10:36

    Why is this even an issue? Ed Martin stated that cost overruns and delays were anticipated, forecast and included in the final project cost when it was first started years ago. If the figure that's being stated now is above that previous amount then why is Ed Martin still at the helm? Isn't there a consequence for failure or does the gravyboat last until the project is finished for the execs?

  • Stop Muskrat Debt
    March 25, 2016 - 08:51

    The rate payers/tax payer should not pay one dime more then what was allocated at the start of this mess. This project was pushed onto everyone under false pretences to begin with. The average Joe on the street corner would have been charged with fraud by now for doing far less. What's wrong with people these days?

  • Kev
    March 25, 2016 - 08:50

    It is a harsh condemnation of Dwight Ball's so-called leadership and judgment that Ed Martin and company are still there.

  • thomas
    March 25, 2016 - 08:35

    Cant say when it will be done; cant say what the final cost will be; cant say what my light bill will be when its done. sounds about right when public money is floating it. if this pronect was being funded by private money the management team would be terminated.

  • Brian
    March 25, 2016 - 07:51

    Liar,Liar,pants on fire.There isn't any Good News and this government allows Mr. Martin to be evasive ,manipulate numbers and play the taxpayers for fools . Davis was a dead loss in keeping Nalcors feet to the fire and it seems that this government won't pull the trigger on Nalcor. The taxpayers suspect and realize how bad Muskrat will be so get on with it. Delaying the real numbers and real situation won't help. Tell the taxpayers the true numbers and paint us the true picture ,this government at least owes us that much..

  • Errol
    March 24, 2016 - 19:55

    Commercial considerations? What hogwash, particularly when wholesale electricity price at the New England hub is $ .0215/kWh today. Surely he can come up with something better? Maybe an investor? Nah, not likely.

  • Catherine
    March 24, 2016 - 18:40

    What caused the delays in construction, particularly with the main powerhouse, and why were there delays? Was it the contracts fault? Was it the Project Managers fault? Isn't there a Project Manager responsible for this contract? How many years of experience do this Project Manager have with this type of contract? Isn't there a Planner/Scheduler assigned to this type of project? How many years experience do this Planner/Schedule have with this type of project? It's time the taxpayers started getting some honest, serious answers.

  • Maurice E. Adams
    March 24, 2016 - 17:36

    What a travesty --- can't release schedule because of commercial reasons. Do not insult the intelligence of ratepayers.

  • Plug and Pay
    March 24, 2016 - 16:38

    True costs - $10 billion and counting. Stay tuned for more bad news!

  • Ken Collis
    March 24, 2016 - 16:24

    Will someone please ask that man what time it is or what colour the sky is so he'll actually be able to give an honest answer. He knows what's happening with delays and cost over runs with Muskrat, like we all do, but if he answers he'll be showing his inability to handle his job yet again. When will he get his pink slip Dwight?