Ottawa waives $844M in Muskrat Falls payments, alm

2022-04-05
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Ottawa waives $844M in Muskrat Falls payments, almost all due by end of year | CBC News - Today News Post News Today || Canada News |

The federal government is again saying it will take steps to make Newfoundland and Labrador’s Muskrat Falls hydroelectric project financially stable —?including waiving immediate payments due from Crown corporation Nalcor Energy —The ceremony fro?but there are few exact details on how the project will affect the province’s ratepayerswere not opening quickly enough. Other states.

Prime Minister Justin Trudeau and Newfoundland and Labrador Premier Andrew FureyThe U.S. Food and Drug Administration to expan?made the announcement Thursday morning?in a live press conference on the prime minister’s official Twitter account?“to help ensure that the Lower Churchill projects are financially sustainable,” according to a press release.

Debt and financing payments owed by Nalcor, which operates the Lower Churchill project, will be delayed. Since the project isn’t yet regularly producing power, Ottawa has temporarily waived the payment obligations to “help reduce immediate financial pressures on Newfoundland and Labrador,” reads the release.

The province would have been on the hook?to pay $844 million, $780 million?of which would have been?due by the end of December?and added to the provincial debtcovid_19_pandemic_in_saskatchewan, Furey said.

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