Prime minister poised to make Muskrat announcement

The Canadian Press
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Muskrat Falls. — Telegram file photo

The proposed Muskrat Falls hydroelectric project in Labrador is expected to clear an important hurdle today.

Sources indicate Prime Minister Stephen Harper’s trip to a military base in Labrador this afternoon will outline details of a federal loan guarantee for the mega project.

Premiers Kathy Dunderdale of Newfoundland and Labrador and Darrell Dexter of Nova Scotia are also making the trip to 5 Wing Goose Bay.

The federal government has long promised a federal loan guarantee or financial equivalent and it has been working out the details for months.

The move is expected to shave hundreds of millions of dollars off the total cost of the project, which is expected to exceed 7.4 billion dollars.

Power from Muskrat Falls would be brought to the island of Newfoundland and then to Nova Scotia through a sub-sea link.

 

 

Organizations: Canadian PressThe

Geographic location: Muskrat, Newfoundland and Labrador, Nova Scotia Island of Newfoundland

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Recent comments

  • Ed Downey
    November 30, 2012 - 11:38

    No matter how you feel about Muskrat Falls, you have to admit that the fact that the prime minister and the "minister of intergovernment affairs" didn't inform our premier of their plans is a tad ironic.

  • Fred Penner
    November 30, 2012 - 11:13

    Looks like the project is a go....the PM is as politically savy as they come and he will not hitch his wagon to a sinking ship. Lets go Muskrat! As an aside, hydro developments have high capital costs but make money forever. We also have the benefit of releasing ourselves from any fossil fuels and go totally green. Great project and a fantastic deal!

  • Cold Future
    November 30, 2012 - 10:56

    If the Feds put in $ 4 to $6 billion (don't hold your breath), Muskrat would be economically viable and be able to compete with any of the more viable alternatives to it. As it is the $ 4 to $6 billion premium (to go atround Quebec) is too large a burden on the ratepayer only to subsidize energy which will have to be sold at discounted rates to the mainland, especilly Quebec.It is still difficult to swallow that we would contemplate shutting down Holyrood which can supply clean cheap economicall energy for many years into the future. We will owe we will owe and off to work we'll go - Je ne comprend pas.

  • time for that vote
    November 30, 2012 - 10:09

    great job mr. prime minister. you have shown your true statesman as a great canadian. you have finally put our great nation on the map worldwide, now lets have that federal election early so we the voters can put all those naysayer liberals/ndp mp's out to pasture.

  • John Smith
    November 30, 2012 - 09:54

    I just hope everyone remembers that the loan guarantee is not needed for this project to be viable. It was never included in any review, or study done on the project. The project has been shown to be 2.4 billion cheaper than the nearest alternative, the loan guarantee will be worth about 400 million at current rates. So the project will still be 2.4 billion cheaper without the guarantee...2.8 billion cheaper with the guarantee....who-hoo...give me a break....this is a big hoopla over nothing....

    • Little Man Dan
      November 30, 2012 - 13:09

      Spoken like only an insider would know; you seem quite certain that the real deal guarantee is not going to fly; down Johnny....get off me you lapdog lackie.

  • honeytruck
    November 30, 2012 - 09:53

    This loan will only cover bonuses that will be made off this revamped 40 year old deal that didn't make sense now or then.

  • Stanne
    November 30, 2012 - 09:47

    For your info, 'original townie' this is not a PC Prime Minister. He and his gang are old throw back reformers masquerading as conservatives. This is the same Harper that looks down his nose at Atlantic Canada and continues to build his wall around Alberta. If he had any morals he would have dumped a few of his current corrupt ministers, including the one his a.s.s That he trying to save today. BTW, this guarantee will come with so many outs that he will never have to deliver.

  • mainlander
    November 30, 2012 - 09:44

    great project for nf and lab. you naysayers don't know a good thing when it hits you in the face. why do you guys complain so much. we in ontario would love to have a project like this, stop complaining and be glad for what you have. its disgraceful.

    • Robb
      November 30, 2012 - 11:39

      Hey mainlander....this is exactly what I have been saying for months....you hit it right on the head. A great clean energy project and all you can hear is the naysayers crying in their empty cups of soup......and you are right, it is disgraceful......but the naysayers and doomsday people just want to be heard, that's all........they probably all believe that the world is going to end on Dec 21 anyway......

  • mr. scrooge
    November 30, 2012 - 09:41

    whats with the name calling scott free? referring to the prime minister as porogue steve. TYPICAL LIBERAL. have you forgotten that in ontario the liberal premier, and i will repeat the liberal premier as also porogued the legislature.

  • Tim Jamison
    November 30, 2012 - 09:30

    Harper's in this now and we all saw what he did to the Quebec left (long gun registry, dead) and the Prairie left (wheat board, dead). He's going to make lunch meat out of our libbie squad in no time flat. Awesome. Better luck next time, Maurice and Winston. I guess you'll be a little older and a little more gray-haired before you finally get those appointments

  • I wonder...
    November 30, 2012 - 09:14

    just wondering....John Smith's absence is conspicuous...could he be Ed or Gilbert, or Ross, or any other Tory spin doctor on the flight to the big land?? It's curious that he isn't putting out an "I told you so" spin; or has he been instructed to wait and see first?

  • Don
    November 30, 2012 - 08:50

    I feel sad for the people who can't see beyond the length of their nose. This is a good project for the future of Newfoundland and its people.

    • a business man
      December 01, 2012 - 02:25

      Don't worry. All 96 of them showed up for the protest. Those who oppose MF are clearly an insignificant minority that should be ignored. Fortunately, their numbers mean then have no say at the ballot box. The rest of us can just laugh at them while we get our way ....Democracy works!

  • Abu Simbal
    November 30, 2012 - 08:44

    Optimum viewing for the planetary alignment over Labrador is at Muskrat Falls!

  • Little Man Dan
    November 30, 2012 - 08:21

    Cue the Tory spin doctors...c'mon Johnny, read your briefing notes...explain why Kathy was in the dark....and wake up Jeromey!

    • jack be nimble
      November 30, 2012 - 09:21

      "explain why kathy in the dark"; are u joking; she was being coy; cute as a fox; grinning from ear to ear; this is excellent news; Every day we waste in the present is another day taken from future of our children/grandchildren; this muskrat deal is peanuts; 8 billion; we are gonna get over 20 billion in revenues from Hebron project; we have about 4 billion to pay down on this Muskrat dea; so revenue from Hebron can pay for this project 5 times over; and i havent even mentioned revenue from White Rose; Hibernia; Terra Nova; and yet to developed North Amethyst; God as given this little tiny province tremendous WEALTH; only its negative; down in the dumps people; usually those not in political power keep it from thriving; mostly LIBERALS now; chirster even whats her face Jones; is coming on side; selling her political soul for a few beans hoping to watch the tree shot into the sky with gifts for Labrador; i thought she was a provincial MHA; for Nfld and Lab.

  • Scott Free
    November 30, 2012 - 07:47

    Progougie Steve's visit to Labrador speaks volumes on many fronts; first off, it's a deflection from the pressure on Peneshue. Secondly, there will be conditions and stipulations attached to the Fed's guarantee (out clauses) that Dunderdale and Kennedy cannot live with; it will require scrutiny and the Feds will usetheir interpretation of the out clauses to give them justification to back out later. Dunderdale was so far out of the loop; she didn't even know he was coming, yet the NS premier was part of the plan all along. Or, she knew the conditions and acted surprised when Progougie Steve said the Feds were moving with or without her knowledge.

  • Maurice E. Adams
    November 30, 2012 - 07:09

    A mega-loss yoke around the necks of Newfoundlanders and Labradorians for another 50+ years. Unbelievable. Billions in debt for $7.4 billion (probably $10 billlion or more) for power we don't need, a project that has no impact on 92% of the province's greenhouse gas emissions, and no prospect of other sales other than those at a loss (heavily subsidized by ratepayers). What kind of government do we have? They should all be ashamed of themselves. What a price Newfoundlanders and Labradorians will pay.

  • Robert
    November 30, 2012 - 06:33

    Totally awesome!

  • original townie
    November 30, 2012 - 06:18

    The Premier stated earlier she heard of Harper's visit to Goose Bay via the media. Hard to believe a PC Prime Minister and PC Premier are that far apart on communications. She stated she had absolutely no idea what Harper would announce or the purpose of his visit. Obviously no love lost from Harper to Dunderdale. Quite noticeably he has absolutely no respect for her. A strong message I would say.

    • Robert
      November 30, 2012 - 09:07

      She didn't know because the prime Minister had not advised the purpose of his visit to HVGB! The media had it would seem jumped to conclusion or as usual cited "unknown sources" who seems to get around a lot. The Premier was being honest. As for those who don't want to be "burdened" with all the taxes Muskrat Falls will generate perhaps it would be best for them that they move to PQ.

    • John Smith
      November 30, 2012 - 09:50

      In case you haven't heard the federal party is called the ..Conservative party of canada...when the reform party of alberta took over the federal party they threw out all the PC members, and ran reform members....and called it the conservative party...very, very different from the Progressive conservative party of NL.