Bill Curry & David Parkinson · Published February 10, 2020
OTTAWA AND TORONTO
The federal government will restructure the terms of its support for Newfoundland and Labrador’s controversial Muskrat Falls hydroelectric project, as the province scrambles to protect ratepayers from a crippling spike in electricity rates stemming from the project’s cost overruns.
Ottawa and the province announced Monday in St. John’s that they will begin talks on restructuring long-term loan guarantees covering much of the cost of the project, which is not yet in service. Ottawa also allowed the province to defer a debt payment due this year of about $150-million. MORE>>