During last month’s rotating blackouts, then-premier Kathy Dunderdale stated that the situation showed we needed Muskrat Falls.
I disagree. What the cold spell showed was that we can’t afford Muskrat Falls.
When the temperature is 30 per cent below normal for almost a month, your power bill will be much higher. As temperatures return to normal, so will your bill. Power is your consumption times the cost per kilowatt hour.
Now to Muskrat Falls: with ratepayers paying for 100 per cent of the cost of Muskrat Falls and the island link, along with the rate of return on equity and interest on the loans, it is almost certain that the cost per kilowatt hour will increase by 30 per cent and your power bill will increase accordingly, not just on a bad month but every month.
Nalcor has all the information they need to give us a cost, not on what kilowatt hours cost at Muskrat Falls, but on what will show up on my power bill in January 2018.
On my last bill it was 10.945 cents per kilowatt hour. If the increase is less than 30 per cent, I apologize to Nalcor for my assumptions and I hope they correct me.