Hon. Jerome Kennedy speaking to Clarenville Chamber of Commerce

On Feb 29, 2012 the Hon. Jerome Kennedy spoke to the Clarenville Chamber of Commerce to outline his government's position on the proposed Muskrat Falls Hydro project. There has been a lot of controversy over the proposed project's viability and with its $6.2 billion price tag it carries with it a large risk of cost overruns.

Regardless of the merits on this option, the island will need power, and it has to come from one source or another. Each option carries a significant price tag.

Some Stats on Muskrat Falls:

Will provide 824 MW (Megawatts) of power
Estimated cost - $6.2 Billion
Could be online by 2017
Refurbishing Holyrood Generating Station will be as costly
The Vale plant will consume 90 MW
Corner Brook's Mill uses 120MW
A mine in Labrador could consume 100-250 MW
Nova Scotia will buy 170 MW
40% of the produced power will be sold on the spot market and NL will have a right to recall.
80% of new homes in NL use electric heat
In 2020 the island will need extra power
NL will have 80MW of wind power in the system by 2025
There are 3 small hydro stations that could be built on the island

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