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Newsroom Ready: N.L., Ottawa agree to rework Muskrat Falls financing

Newfoundland and Labrador will work with Ottawa to change the financial structure of the Muskrat Falls hydro projects to a new model so electricity ratepayers will not pay for its cost overruns. Electricity rates have been forecast to skyrocket in Newfoundland and Labrador when the dam, estimated at $12.7 billion, comes online in 2021. Premier Dwight Ball and federal Natural Resources Minister Seamus O'Regan say finer details of the plan will be worked out in the coming months.

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Unique identifier: CP16948396

Legacy Identifier: r_NL-Rates20200210T1530

Type: Video

Duration: 1m46s

Dimensions: 1920px × 1080px 131.49 MB

Create Date: 2/10/2020 3:30:00 PM

Display aspect ratio: 16:9