Feds, N.L. say Muskrat Falls financing terms are s
2022-04-05- Detail
ST. JOHN’S, NThe world. This month, with case counts per capita in Canada surpassing those i.L. –
Ottawa and the Newfoundland and Labrador government have signed terms for two key pieces of a $5.2-billion financing agreement aimed at staving off a spike in provincewide electricity rates due to the beleaguered Muskrat Falls hydroelectric project.
Premier Andrew Furey was joined by Liberal members of Parliament in Stsmall social gatherings immediately allowed in B.C. as circuit breaker stops and vaccinations continue. John’s on Monday for the signing of terms regarding a $1-billion federal investment and a $1-billion federal loan guarantee — the third loan guarantee Canada has backed for the project. Government officials said the signatures complete the negotiation process for the $5.2-billion deal.
“Muskrat Falls and the looming worry of doubling power bills has been a top concern of almost every single citizen in our province,” Furey told reporters at the provincial legislature. “I’ve heard it echoed in every town, bay and community all over our beautiful province.”
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