The provincial government is moving the operations of Nalcor to NL Hydro.

The announcement was made at noon by Premier Andrew Furey, Energy Minister Andrew Parsons and Hydro CEO and Interim Nalcor CEO Jennifer Williams.

Premier Andrew Furey says the work has already begun which includes a review of the existing corporate and governance structure and contractual obligations for the Crown corporation and its subsidiaries.

The provincial budget, brought down late last month, indicated that the province would immediately begin restructuring Nalcor to “remove duplication and save money.”

Minister Andrew Parsons says the changes will take some time, and exact figures and timelines are not yet known.

He says it’s part of signaling government’s intention, but exact numbers and savings are hard to quantify because there are contractual and legislative changes that will be required before action is taken.

The PERT Report recommended that the energy corporation, which has taken heat for its handling of Muskrat Falls and for providing hefty bonuses to executives, be dismantled.

Former CEO Stan Marshall, who was brought in to address issues with timelines and cost overruns, retired earlier this month and was replaced by Hydro CEO Jennifer Williams who is serving at the helm of both entities.

NDP Leader Alison Coffin is questioning why government has decided to move forward with the absorption of Nalcor into NL Hydro—one of the recommendations of the recent PERT Report—before promised public consultation is complete.

Coffin says it is concerning to see government implement recommendations from PERT Chair Moya Greene when the public has been promised consultations first.