George Murphy Question Period (12.06.2012)
MR. SPEAKER: The hon. the Member for St. John's East.
MR. MURPHY: Thank you, Mr. Speaker.
The take-or-pay power purchase arrangement will lock NL Hydro into buying 40 per cent of Muskrat power for fifty years. If all ratepayers do not use this power we still have to pay the amount stipulated under the take-or-pay arrangement by Nalcor.
Question: If the power is not used, does the ratepayer still have to pay for the power even though he is not using it?
MR. SPEAKER: The hon. the Minister of Natural Resources.
SOME HON. MEMBERS: Hear, hear!
MR. KENNEDY: Yes, Mr. Speaker.
We framed the debate around Muskrat Falls with a couple of questions. The first question: Do we need the power? Mr. Speaker, the MHI review of Newfoundland and Labrador Hydro's forecasting for 2012 – the demand paper out of the Department of Natural Resources clearly indicated that we need the power.
Now, what is going to happen is that 40 per cent of the power, Mr. Speaker, will be used in essence to replace Holyrood and allow for new commercial and industrial development on the Island. As long as 40 per cent of the power is used then we are fine.
I refuse to engage in the doom and gloom politics of the NDP. I see our Province heading upwards and onwards, Mr. Speaker, under this Premier and that is what is going to happen here.