Cost estimates for the Muskrat Falls project have apparently jumped by 16% - $1.0 billion - in the past year. That’s based on information released by the provincial government on Tuesday and the details of the federal loan guarantee.
The new price appears to be $7.2 billion. The Decision Gate 3 estimate, released in October 2012, was $6.2 billion for the Muskrat Falls dam, a tie to Churchill Falls, and the line to Soldier’s Pond on the island of Newfoundland.
The new cost is 44% more than the $5.0 billion cost estimate for the dam and island link components of the project when it was approved in late 2010.