Premier Welcomes Federal Commitment to Clean Energy in Nova Scotia

Nova Scotia businesses and families would pay less to enjoy the benefits of clean, renewable electricity from the Lower Churchill hydro project because of support promised today, March 31, by Prime Minister Stephen Harper.

Prime Minister Harper announced a commitment to provide support for the project through a loan guarantee, or equivalent financial support, while speaking in St. John's.

"This is wonderful news," said Premier Dexter. "I spoke to Mr. Harper this evening, and affirmed that this project is a win-win for all of us, that will change the economic landscape of this province and the region for generations to come.

"The Lower Churchill project is a game changer for Atlantic Canada, and a major environmental and energy win for all of Canada."

Premier Dexter noted that all national party leaders have committed their support to the project. The deal to build the $6.2 billion Muskrat Falls portion of the Lower Churchill hydro-electricity project was announced Nov. 18 by Premier Dexter and then Premier of Newfoundland and Labrador Danny Williams, in conjunction with project partners Emera and Nalcor Energy.

In exchange for a 20 per cent investment in the construction of the project, Nova Scotia will receive 20 per cent of the electricity generated over the next 35 years, accounting for 8-10 per cent of the province's electricity needs once it starts flowing in 2017.

"Building this project is building our nation," said Premier Dexter. "No longer will Nova Scotia be at the end of the line as far as power is concerned. Rather we will be at the centre of an efficient loop connecting Newfoundland and Labrador to the Maritimes, New England and Quebec."

The electricity will travel to Nova Scotia by way of the Maritime Link, a $1.2 billion sub-sea cable between Newfoundland and Labrador and Cape Breton. In addition to transmission infrastructure upgrades within and between Nova Scotia and New Brunswick, the project will provide the opportunity for further energy integration and cooperation across the region.

"We always said that this project was a go whether we got federal support or not, but this commitment means real dollars saved for the ratepayers that are going to be receiving the benefits of federal support, and a new source of clean, renewable energy," said Premier Dexter.