ST. JOHN'S, N.L. — Stan Marshall did wonder whether or not the Muskrat Falls project could be stopped when he took the reins as president and CEO of Nalcor Energy in 2016.
He said the company and the province were locked in.
“It was very clear almost right away that there was no turning back,” he said Wednesday at the Muskrat Falls Inquiry.
He pointed to commercial contracts for the power project, the provisions of the federal loan guarantee and requirements to supply power to Nova Scotia, under the deal with Emera.
“With what I know now, once you signed the federal loan guarantee, you’re stuck,” he said.
It was Marshall’s third day on the witness stand. And it ended as just a half-day’s hearing, with fewer questions than expected.
Before he was excused, he was run rapid-fire through a collection of topics, sometimes reaching back to the period before he became head of Nalcor Energy.
At one point, he was asked about the choice of the Muskrat Falls development as the “least-cost” option for power.
Marshall said it was worth pursuing a plan for power with more flexibility, given the outlook for the province.
“Generally speaking the ‘least-cost’ is the best utility decision, but in a case like this, where you’re making very long-term investments, with very peculiar circumstances, maybe the best decision is to just address your needs until 2041 and forget what happens after,” he said, referring to the coming renegotiation of the Churchill Falls power contract.
Marshall insisted and repeated that even if estimates put Muskrat Falls and the associated transmission additions at a lower cost than other options, he personally would not have pursued it, given the risks involved.
On the idea of blame, he said there’s enough to go around. On Tuesday, Marshall noted that at one point early on the vast majority of people in the province supported the project.
“We’re all to blame,” he said.
He was asked about the comment on Wednesday, by consumer advocate lawyer Chris Peddigrew.
He said the public doesn’t always challenge the government enough.
"To a certain degree we all bear some responsibility," he said.
Marshall did not take questions from reporters following his testimony. A Nalcor Energy spokeswoman said topics covered would likely also be raised in the coming days.
Premier Dwight Ball is scheduled to take the stand on Thursday and Friday. He is the last witness scheduled for the current phase of the inquiry, with a schedule for the next phase of the inquiry now available.
Twitter: @TelyFitz
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