- Maurice E. Adams
- April 28, 2012 - 08:54
Muskrat Falls makes no business sense......... Muskrat Falls power (delivered) costs between 35-40 cents/KWh, while natural gas has brought wholesale prices for electricity in the U.S. down to 2-3 cents/KWh. NO MONEY THERE (only costs for NL ratepayers and losses)........The mining companies in Labrador can get all the power it needs from Quebec for about 5 cents/KWh. NO MONEY THERE (only costs for NL ratepayers and losses)........... Emera gets 20% of MF power for 35 years with no revenues to Nalcor. NO MONEY THERE (only delivery, reliability costs to NL ratepayers and losses)....... Also Emera really has guaranteed access to about 30%, not 20%, due to the fact that the 20% has to be delivered during a daily 'peak' 16 hour period........ As to the island? NL ratepayers pay for the whole lot (including cost overruns, debt servicing costs, losses) ----- AND WE DON'T NEED THE POWER ----about 500MW (25%) of our existing installed net capacity is unused year over year, every year. Our growth rate is FLAT and Vale will add only 4.5% of additional demand on the system (all while NL Hydro allowed $100 million of oil equivalent energy to be spilled over its existing hydro dams last year --- that amount alone is more than the 10-year average cost for oil for Holyrood)........ And NL ratepayers should give Nalcor $10 billion to waste and to more than double this province's debt ???