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We’re going to subsidise NFLD power for the rest of our lives, NSP started on the wrong foot and never corrected its mistake, if NFLD has surplus power and needs NSP to help them make use of the surplus power we should be getting it at least at market price or lower, from the first KW transmitted, and NSP should be paying for the undersea line as a business investment and not directly from the rate payers up front. We as ratepayers are being taken to the cleaners on this one………………..
Bernie | October 28, 2013 | Reply
Appreciate the article Bill. Nova Scotia needs a burglar alarm.
Barry Zwicker | October 26, 2013 | Reply
The only factor which has Emera’s attention is the guarantee of a 9.6% return on their so-called investment. This $1.5-billion “investment” is guaranteed by the federal government. The power will be inflicted on the ordinary consumer, regardless of the cost. There is no financial risk for Emera.
How dependable is the supply? No very.
In the event of unexpected factors, the risk for the increased cost of replacement power will rest entirely with the rate payers. For Emera, the whole thing is a giant profit making machine churning out “earnings” with no real risk for Emera. What a perfect business opportunity – for Emera.
This whole scheme reminds me of the wartime cost plus 10% acquisitions which the government entered into because our backs were against the wall and western society ran the risk of being conquered by the Nazis. Well, our backs aren’t pressed that hard against any wall, yet.
We need Emera in this whole equation about as much as a fish needs a bicycle. If there was ever a good opportunity to replace, or open to competition, the power generation portion of NSPI’s business, this project is that opportunity. Take Emera out of the equation entirely and have the province sit down with Newfoundland Power directly and make a deal which is in the best interests of the average Nova Scotian. At the same time, begin parallel negotiations with Hydro Quebec. Surely it must be cheaper to build a transmission system over land than it is under water. If the Hydro Quebec option is less expensive than Muskrat Falls, drop Muskrat Falls.
For the short term (20 years or so) Newfoundland needs us and access to the US markets much more than we need them. We have not ever sat down and really negotiated with them. But for either project we really don’t need Emera – they offer nothing except a continuation of sucking profits out of Nova Scotia to be pumped into other projects elsewhere.
Why not set up a Crown corporation to supply hydro power – either from Newfoundland or from Quebec or from both of them and mandate access for this power to the NSPI distribution system. It’s time to eliminate Emera’s monopoly.
Jon Coates | October 25, 2013 | Reply
Nova Scotians are REALLY going to get shafted by this deal. Our new premier better stand up for us and toss this deal back!!!
Harold | October 25, 2013 | Reply
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