NL Hydro says work is already underway to ensure that the utility is ready once rate mitigation is in place.

President and CEO Jennifer Williams and CFO Carla Russell provided an update on Nalcor’s second-quarter results Tuesday morning.

With the federal election underway and a lawsuit before the courts brought by the Innu Nation, some questions have been raised about the certainty surrounding the rate mitigation plan announced in July. Williams says they’ve already made preparations to ensure they meet their obligations—not necessarily related to the election or the lawsuit.

They’ve applied before the PUB for a deferral account to begin payments according to the contracts in place and be ready for the implementation of rate mitigation once the Agreement in Principal is finalized.

Meanwhile, Williams says a milestone was achieved when Unit 2 at Muskrat Falls went into service in June.

Unit 3 was brought into service earlier this month. With both units in operation, energy began flowing via the Labrador Island Link to Nova Scotia under the terms of an agreement reached with Emera in August.