Nalcor pleased with N.S. Muskrat Falls study1/18/2013
Nalcor, Newfoundland and Labrador's energy company, is welcoming the findings of a Nova Scotia study that says Muskrat Falls is the cheapest power option for that province.
The study, released Thursday by consultant John Dalton, concludes that supporting the Labrador hydro project would cost $1.5-billion less for Nova Scotia than using a mix of wind and natural gas over the 35-year life of the commercial contract.
The projected costs are based on 2017 dollars, which is when the project is expected to be on line.
Gilbert Bennett, Nalcor's vice-president for the Lower Churchill project, said he was particularly pleased with another finding in the study which said the Muskrat Falls option would cost about $402-million less than buying power from Hydro-Quebec.
"It's certainly been our assertion for some period of time, so we're certainly pleased from a project perspective to see that confirmation out there," said Bennett.
Other big news
The news came on the same day as a couple of significant developments for the Muskrat Falls project.
Emera, the private power company in Nova Scotia, filed its environmental assessment report for the Maritime link. That company will pay the $1.5-billion cost to bring Muskrat Falls power from Newfoundland to Nova Scotia.
Meantime, Nalcor has awarded a contract to the company Nexans worth more than $100 million to build and install the subsea cable across the Strait of Belle Isle.
Nexans will bring in a vessel to lay about 100 km of cable for the Labrador-island link.