N.L., Ottawa agree to rework Muskrat Falls financing

Newfoundland and Labrador will work with Ottawa to change the financial structure of the Muskrat Falls hydro projects to a new model so electricity ratepayers will not pay for its cost overruns. Electricity rates have been forecast to skyrocket in Newfoundland and Labrador when the dam, estimated at $12.7 billion, comes online in 2021. Premier Dwight Ball and federal Natural Resources Minister Seamus O’Regan say finer details of the plan will be worked out in the coming months. (February 10, 2020.)

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