The business community in Newfoundland and Labrador says it’s time to call in the Public Utilities Board to provide oversight for the Muskrat Falls project.
The Canadian Federation of Independent Business says electricity rates in the Muskrat era could cost small and medium enterprises an additional $179-million a year based on current projections.
Nalcor does not yet know what the rate will be as it is doing what it can to keep rates as low as possible, however there will be a significant increase.
The federation says it’s unfortunate that Muskrat Falls is exempt from PUB oversight. Then-premier Kathy Dunderdale bypassed the PUB process in order to speed up the project, which is two years behind schedule and over-budget by billions.