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  • Muskrat Falls Price Tag Almost Doubles at $11.4-Billion

    Calling it a “boondoggle”, Nalcor CEO Stan Marshall says the projected costs of the Muskrat Falls project have ballooned to $11.4-billion dollars, and first power is delayed by approximately 2 years from that projected at sanction.

    The original cost was estimated at $5.9-billion.

    Marshall provided an update on the project this morning after conducting an assessment of Muskrat Falls to-date.

    He says stopping the project is not an option at this time. The date for first power has been pushed back to the first quarter of 2019, two years later than the date originally projected at sanction.

    Marshall says he does not have a cost estimate for stopping the project. He says his job now is to find increased revenue and discussions are underway with Ottawa to see if an additional loan guarantee can be secured for the project.

     


     

     

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