- Dave Moore
- September 20, 2012 - 19:38
Seems to me that NALCOR can ask as much as they like from Alderon. No need for a sweetheart deal. Who else would provide the power? Despite that, I suspect that the province's people will see only red in the ledger when all is said and done and a select few will cash in big over the deals that are arranged now.
- September 20, 2012 - 10:15
The dirty linen driving Muskrat Falls gets muckier with each passing week. We're screwed people, plain and simple. Again I ask, where the hell are the MHA's? Vote or no vote, she can't pass something not approved by the majority of her "carcass". The MHA's have to be smoked out.
- S Reid
- September 20, 2012 - 08:54
If the Telegram had a journalist at the Alderon shareholders meeting he/she would have noticed the prominent members of the Liberal party who were there as shareholders. It would be worthwhile to ask some very prominent Liberals (more than one) if their ownership of Alderon shares is causing their muted position on Muskrat Falls. Don't want to upset the grassroots while still personally profiting?
- Maggy Carter
- September 20, 2012 - 08:46
The Kami iron ore project will prove to be a highly profitable investment for its owners - no different from Hebron or other major non-renewable resource developments in this province. When he was premier, Williams demanded that Exxon and its partners agree to royalty and other terms that would give Newfoundland a reasonable share of the wealth generated by Hebron. It would have been laughable to think that Exxon would turn around and ask government for an operating subsidy for their project. But that is no doubt exactly what Alderon and Williams are seeking for their Kami project. Mr. Eldom did not disclose the rate his company is seeking in its proposed deal with NALCOR - a deal that is tied to the development of Muskrat Falls. What we can easily guess however is that the rate being targeted by the company is well below the cost of producing power at Muskrat and well below the cost of power to ordinary homeowners in this province. In effect, Alderon and Williams are asking those homeowners to accept a series of huge rate increases for decades to come so their company can jack-up the already lucrative rate of return from their new development. Companies can ask what they want - however outrageous - and former premiers can choose to advise them on how to go about getting it, but ultimately it will be down to this sitting premier to decide whether our children's future should be ransomed in order to feed the greed of large corporations. Sadly, it appears that Dunderdale is ready to do exactly that. She is girding herself for a quick and dirty debate in the House of Assembly in which she will present a carefully constructed, one-sided argument for Muskrat that will all but ignore the real reasons for proceeding with the project. The question is whether there are enough back-benchers with some semblance of a conscience, some smidgeon of intellect, some modicum of back-bone who might be prepared to stand up to their own leader. If they don't do it for all the right reasons - safeguarding the public interest they were elected to serve - then maybe they can at least do it to protect their own interests. Even before the ceremonial switch is pulled at Muskrat, the true absurdity of this boondoggle will be evident to every voter in this province and there will be only disgust and contempt for anyone who had a hand in bringing it about.
- Foghorn Leghorn
- September 20, 2012 - 08:43
Reminds me of an old saying - I see, said the blind man!
- John Smith
- September 20, 2012 - 08:23
Well Brad, those costs are included. That line is so that they can transfer power back and forth between muskrat and the upper churchill to balance water flow at different times of the year. When the whole system is up and running they will be able to use the UC Bay D'espoir and muskrat as one large resovoir. It's interesting to see the same old commenters here, with the same old diatribe. We need to grow industry in the province, we need to develop our natural resources, we need to meet our future power needs. What is wrong with you people?You have no factual basis for anything you say. It sounds as if just because you hate Danny Williams and the PC party that we should close up shop and go sit on the wharf and draw welfare. Well, that may be OK for you guys, but I think there are others here who don't want to go back to that lifestyle. Develop or perish...
- September 20, 2012 - 10:06
Develop or perish was Joey's desperate modus operandi and it sunk us! The Upper Churchill comes to mind with a Rubber Boot & Chocolate Bar enterprise as supporting failures. What history book are you reading from John?
- Brad Cabana
- September 20, 2012 - 07:27
There are so many particulars missing from this story. For instance, "They now have a very clear idea what its going to take to bring power to our site." What the CEO doesn't say is that a massive, new transmission corridor has to be built between the Upper Churchill facility and Lab West, because, in the words of Alderon's Morabito "Lab West is tapped out." In other words, Lab West's distributuion system is maxed and a separate feed must be built at $100's of millions of dollars.Are those costs included in DG3 numbers? Is the taxpayer paying that bill? The answer is likely no to the DG3 #s and yes to the taxpayers paying. Will the telegram ask those questions?
- Ashley Fitzpatrick
- September 20, 2012 - 08:24
Brad, of course we will ask the questions. Nalcor has previously said builds would come with power agreements. So it now falls to us to go to them and ask if they're prepared to take on building new infrastructure for the mines and at what cost.
- Cold Future
- September 20, 2012 - 06:39
Give Alderon a deal that they cannot refuse. Let them pay the full development cost of Muskrat power, about 30 cents per kwh. No more giveawys on the domestic rate payers backs. Let Vale be the last. We have in the past given away the ore and then given them a power deal to boot-time to stop that lame brained foolishness-long may the waters at Muskrat Falls flow freely.
- William Daniels
- September 20, 2012 - 06:15
If Danny wants to play let him pay. We are already subsidizing law firm.
- September 20, 2012 - 07:49