Nova Scotia to pay next to nothing for Muskrat Falls energy: Nalcor CEO
HALIFAX — Nova Scotia will be getting electricity for “next to nothing” when the Muskrat Falls hydroelectric project in Labrador starts producing energy, the man in charge of the megaproject says.
Nalcor Energy CEO Stan Marshall said the poor arrangement with Halifax-based Emera Inc. is one of the reasons the $11.4-billion Muskrat Falls project has proven to be a bad deal for Newfoundland and Labrador.
He said Nalcor is talking with Emera about changing the terms of existing contracts for the Maritime Link, the 170-kilometre subsea cable that will eventually carry electricity from Newfoundland to Cape Breton. Emera is paying for the $1.6 billion link.
“We only need about one third of (the electricity) on the island (Newfoundland),” Marshall said in an interview this week with The Canadian Press.