Emera says it will satisfy conditions to proceed with Muskrat Falls link

The Canadian Press
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Emera says the conditions of a regulatory decision to proceed with the Muskrat Falls hydroelectric project will be satisfied.

The Nova Scotia utility says it will present a filing with the province’s Utility and Review Board today to meet the conditions of a decision that would sanction construction of the $1.5-billion Maritime Link.

That project would transmit Muskrat Falls electricity from southwestern Newfoundland to Cape Breton via subsea cables.

In July, the Utility and Review Board said Emera (TSX:EMA) would have to ensure that Nova Scotians have access to the best price for surplus electricity based on market conditions.

The company’s filing today is subject to the board’s approval.

Nalcor Energy, Newfoundland and Labrador’s Crown utility, says the filing ensures a competitive price for Muskrat Falls power.

Emera and Nalcor Energy are aiming to have power flowing from Muskrat Falls in 2017.

 

 

Organizations: Utility and Review Board, TSX

Geographic location: Muskrat Falls, Nova Scotia, Southwestern Newfoundland Cape Breton Newfoundland and Labrador

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Recent comments

  • Harvey
    October 21, 2013 - 13:26

    Good news story. Let's get on with getting clean renewable energy to help save the planet.

  • Maurice E. Adams
    October 21, 2013 - 12:26

    It has been said that if the so-called Water Management Agreement is shot down by the Quebec courts, then the water supply at Muskrat Falls can only provide about 20% as much power as forecast. If we commit long term to provide not only 20%, but 40% or 60% of Muskrat's "predicted" power, NL will be locked in to coming up with the additional 20% or 40% for Nova Scotia (as well as having none for Newfoundland and Labrador). That is much worse that the Upper Churchill could ever be. Keep in mind also, that the so-called 824 MW capacity of Muskrat Falls comes from the combined 206 MW "rated" capacity of each of the 4 turbines (from the manufacturers equipment sticker), and has nothing whatsoever to do with the water flow generating capacity of the river.

  • JR Smallwood
    October 21, 2013 - 12:18

    I can't tell you what satisfaction this news gives me. I am ecstatic. I am over the moon. Why? Well, because very soon I will be able to rest in peace - enjoy my eternal bliss, released forever from a purgatory of my own making you might say. How, you might ask? Because, glories of all glories, I am about to give up - relinquish with great relish - my record as the architect of the worst deal in Newfoundland history. I will forever be in the debt of Premier Dunderdale!

  • Jon Smith
    October 21, 2013 - 12:12

    The final piece of the greatest giveaway in place, Joey's deal is looking pretty good right now. It's win-win, a win for NS consumers and a win for mainland consumers. Guess who subsidizes?