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  • Maurice E. Adams
    December 10, 2012 - 07:07

    Holyrood accounted for only 11.5 % of our energy use in 2011. Therefore oil prices or usage would have to go up about 1000% to double rates (almost 85% or so of the island's energy supply is unaffected by oil price or use). Would it not? In 2003 Holyrood oil cost $115 million. Last year it was $130 million --- and Nalcor gave evidence to the PUB last year that due to excess capacity (insufficient demand on the island) it spilled the energy equivalent of Vale's needs (694 Gwh) last year and that it would CONTINUE TO SPILL WATER OVER OUR HYDRO DAMS UNTIL VALE COMES ON STREAM TO USE UP THE EXCESS CAPACITY. So, even with Vale, Holyrood will not be used to supply all of Vale;s needs,