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A major issue in Phase One of the Muskrat Falls inquiry was so-called P-factors. The original cost estimates for Muskrat Falls were done with a P50 confidence level, meaning there was a 50 per cent chance the project could go over budget. Many witnesses testified that a more conservative P75 would have been more appropriate. Nalcor’s risk consultant, Westney Consulting Group, did a P75 evaluation last year that predicted a cost for the Muskrat Falls generating station of $5.67 billion. NTV’s Michael Connors reports.

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