Premier Andrew Furey says a deal with Ottawa on rate mitigation has to be done by the end of the summer in order to keep electricity rates in check.
13.5 cents per kilowatt-hour has long been the benchmark quoted by government to keep rates stable and affordable for residents of the province. However, the Premier says all bets could be off if a financial arrangement with Ottawa on Muskrat Falls isn’t done before commercial power starts flowing later this year.
(Twitter/ Nalcor Energy)
In essence, it’s become a race against time, with Furey noting everything is riding the current negotiations and commissioning of the project—adding that the province’s participation in the Atlantic Loop also hinges on the outcome of the talks.
Meanwhile, Furey now says the Moya Greene report due at the end of this month will be “more substantive” than the initial interim report that missed its deadline, adding there will still be a final report at a later date.
The Opposition, however, is wary of the timing, saying they’re concerned they’re approving interim funds now that could be used later in ways they don’t support, based on Greene’s work.
Finally, the House will approve the appointment of a new Auditor General today. Denise Hanrahan had recently been appointed Secretary to Treasury Board last October.
