Danny Williams says it’s about time the CEO of Nalcor acknowledged the positive aspects of the Muskrat Falls project. There was a noticeable change in tone from Stan Marshall at Nalcor’s annual general meeting yesterday where he described a much better positioned project than two years prior when he first took on the job as CEO.
While Muskrat Falls is still pegged at $13 billion with first power in 2019, Marshall says a lot of progress has been made. In a statement today, Danny Williams – the man who sanctioned the mega-project – said for far too long negativity around the hydro deal has ruled public debate. He reiterated his support for Muskrat Falls, believing in the long run it will benefit the people of the province.
Williams offered some advice to the Liberal government, now challenged to keep power rates low. The former premier says the logical way to keep electricity rates from doubling is to use oil and gas profits and eliminate the return on equity to the province.
“I have always said the logical way to keep electricity rates from doubling was to use Nalcor profits from oil and gas and hydro, and eliminate the return on equity to the province,” added Williams. “I am pleased to see this plan to mitigate rates is where the current government seems to be heading. I have always been very clear on this position, as it was and still is a sensible solution to deal with rate increases.”