Nalcor boss Ed Martin told everyone in the province last week that his pet project has increased in price by almost another billion dollars. It’s now more than $8.0 billion, when the 2010 price was $5.0 billion.
That wasn’t news. Martin and the provincial government knew that last December, as SRBP pointed out last December. We’ve known it since last year. Martin and the provincial government just refused to tell the people paying for the project about it when the people building it knew the costs.
Martin insists it is still cheapest. We know that isn’t true because Nalcor plans to buy cheaper electricity from elsewhere and import it here over the Maritime Link while charging local consumers for electricity that is far more expensive but that they aren’t getting.
Martin also said something to the effect that we are just paying ourselves for this project and the electricity anyway. That’s not true either.
We are paying everyone but ourselves.