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  • Just sayin
    May 02, 2013 - 15:11

    These assets could have been bought by Fortis,(Nfld Power) at a fair and much lower cost and added to their many small hydro assets, to serve the Nfld customers. It would have avoided the huge expense incurred at taxpayer cost. But no, the way it was done adds to the manoply of Nalcor to prevent any competition as to who can produce electricity. As David says , they see themselves as self made energy barons... all at tax payer expense.... based on a vision... tunnel vision.... that seems likely to be a nightmare.

  • Tony Rockel
    May 02, 2013 - 14:27

    Short of a takeover by the Taliban, this government is the worst disaster ever to befall our province. I can't see how our economy will ever recover from the orgy of corruption and sheer economic idiocy we've been subjected to since these self-serving morons came to power.

  • Maurice E. Adams
    May 02, 2013 - 13:39

    Point taken, David. And what an elephant it is.

  • Jon Smith
    May 02, 2013 - 10:47

    Other amounts paid, which are not included here, would be the expropriation of the other Abitibi Power assets at Grand Falls, Bishops Falls and Millertown ($150 million or so). As well there were millions paid to union members which were paid separately later by the Abitibi successors and not paid back to government. In all the total bill could be $ 1 billion to $ 1.5 billion by the time its all said and done. Nothing small about our rulers-no sir!

  • Tony Rockel
    May 02, 2013 - 09:58

    Our PC government---a confederacy of dunces.

    • david
      May 02, 2013 - 12:12

      Drop the "PC" and you have a timeless Newfoundland truism. Here's another one: As long as this place has so many naive partisan suckers for citizens, nothing will ever change.

  • Wondering
    May 02, 2013 - 09:15

    The cost of this power, all told is about $9,000.00 per kilowatt of output (almost as much as Muskrat falls power). That's about 5 times the cost of reducing demand with Efficient home electric heating. And that would really be of benefit to the people, giving lower heating costs. But , hey, who's concerned about the "people'. 96 percent of residents ( over 200,000 accounts) want conservation if it will save them money. How many actually opposed the Nfld power rate increase in writing to the PUB. Two.

  • Foghorn Leghorn
    May 02, 2013 - 09:13

    I simply do not understand why there was so much urgency to seize these assets in the first place. The provincial government could have participated in the purchase of assets after the bankruptcy. What would be the problem if another company purchased the hydro assets? Where exactly other than NL Hydro could they sell the power? We are pretty well a captive market, no pun intended. I feel quite confident that the provincial government would still have ultimate control over the timber rights. The timber rights in Corner Brook are literally linked to how many paper machines Kruger operates. Maybe someone could enlighten me and others as well.

  • Cyril Rogers
    May 02, 2013 - 08:09

    Another great decision by the former great Williams administration that their current cronies are paying for, both politically and financially. When the cost for Muskrat Falls comes in, this will look like chicken feed. The destruction of the current PC government is of no consequence, as the political void will be filled by someone, anyone...... and we will be none the worse off for it. Unfortunately, we can't un-spend and we can't un-dam Muskrat Falls. Therein lies the real tragedy in all of this!

  • Maurice E. Adams
    May 02, 2013 - 07:00

    Government had no problem letting the assets of FPI go. ...... But then again, that had nothing to do with Nalcor, did it? It was only beneficial for the province's $1 billion fishing industry, the province's largest employer. Fascinating.

    • david
      May 02, 2013 - 12:25

      Maurice: You missed "the hidden elephant", IMO....Prepping a nice, cushy well-paid parking stall in a corner suite at a sprawling, conglomeratic Nalcor (....as if ! But it's their dream, not mine) sometime down the road is a lot more appealing to all these political hacks than the positively repugnant thought of ever being relegated to accepting any sort of "job" related to anything to do with the ...urrrpppp... fishery!?! They see themselves as "self-made" energy barons now....pleeease! They're building themsleves a Taj Mahal of Pork.