There was an ominous prediction from the general manager of the Muskrat Falls hydro project today at the inquiry.
The inquiry itself will cost about $35-million but Ron Power says the inquiry has opened up sensitive information which will result in hundreds of millions of dollars in claims against the owner.
Power said that’s the opinion of Nalcor’s claims personnel, their senior lawyers and the management of the project.
At times, Inquiry chairman Richard LeBlanc has declared some material and information to be commercially sensitive. But Power says an earlier assessment from Wesnay Consulting that the inquiry would cost about $135-million was low.
Power says the figure would be much higher today because the report was done before Astaldi filed its arbitration.
He says the inquiry has made available a plethora of information that will result in a lot of claims against the project. He repeated that the inquiry will cost hundreds of millions of dollars, and that “you could take it to the bank.”
Commissioner LeBlanc disputed that contention, saying the claims arising will come in under $135-million.