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– PC Opposition Leader Ches Crosbie today released the Crosbie Hydro Energy Action Plan
Monday, March 11, 2019

Office of the Official Opposition 

For Immediate Release

Release of Crosbie Hydro Energy Action Plan 

St. John’s, NL (March 11, 2019) – PC Opposition Leader Ches Crosbie today released the Crosbie Hydro Energy Action Plan to protect electrical power consumers in Newfoundland and Labrador from an increase in rates caused by the Lower Churchill Project, and achieve a fair and equitable return from the Upper Churchill.

“Ours is the only party to lay out a rate mitigation plan,” said Crosbie.  “It is honest.  It is affordable.  It provides a foundation for hope, because it demonstrates that we can do this.  If I am elected Premier, I will ensure Newfoundlanders’ and Labradorians’ electricity rates do not rise because of Muskrat Falls.”

The Crosbie Hydro Energy Action Plan has three components:

1.    Fully prevent power rate increases due to Muskrat Falls by using Nalcor cash flow, and returns and dividends, for rate mitigation, while implementing best practices for cost reduction, demand management and export revenue generation as recommended by the PUB.

2.    As a temporary measure, if necessary, use a modest amount of the Atlantic Accord Fiscal Arrangement revenues owed by the Federal Government to Newfoundland and Labrador, to achieve full rate mitigation.

3.    As a longer term measure, if necessary, use the August 31, 2016 expiry of tax exemptions for the export of power from the Upper Churchill, to achieve “a fair and equitable return to the province as the owner of the Churchill Falls resource”, (as per the “Statement of Intent Regarding Churchill Falls Negotiations” between Hydro and Hydro-Québec dated February 1, 1984), and apply revenues to Lower Churchill rate mitigation.

Contacts:

Bradley Russell

Director of Policy and Research

Office of the Official Opposition

(p) 1.709.729.3668

(c) 1.709.685.3161

BradleyRussell@gov.nl.ca 

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CLICK HERE: Crosbie Hydro Energy Action Plan
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