Natural Resources
March 26, 2014

Making Responsible Decisions through Strong Governance

Motion Passed on Oversight for the Muskrat Falls Project

The majority of members of the legislature passed a private member’s motion today in support of the Provincial Government’s actions to strengthen oversight during the construction phase of the Muskrat Falls Project.

“I was disappointed today when members of the Official Opposition did not stand together in support of oversight for the construction phase of the Muskrat Falls Project. Unlike the Official Opposition, prudent oversight of the Muskrat Falls Project is a priority for our government. Government oversight will continue through the construction and operation stages of the project and will be supported by existing independent oversight. The Provincial Government, on behalf of the people of Newfoundland and Labrador, has undertaken oversight throughout all stages of the Muskrat Falls Project - from initial planning, to early engineering, to our agreements with Emera, and most importantly to sanction and financing.”
-The Honourable Derrick Dalley, Minister of Natural Resources

Responsible oversight of the Muskrat Falls Project continues to be undertaken by the Government of Newfoundland and Labrador, Government of Canada, Nalcor Energy, project lenders, and independent experts. The private member’s motion can be viewed in the backgrounder below. The project will meet the province’s growing energy needs, provide the least cost source of electricity for the future, and will benefit Newfoundlanders and Labradorians for generations to come.

Through sound fiscal management and responsible decisions, the Government of Newfoundland and Labrador is strengthening the business environment, encouraging the development of innovative industries and building a vibrant economy.

QUICK FACTS

• The majority of members of the legislature passed a private member’s motion today in support of the Provincial Government’s actions to strengthen oversight during the construction phase of the Muskrat Falls Project.
• On Monday, March 24, the Provincial Government outlined its work in facilitating robust oversight of the Muskrat Falls Project on behalf of the people of Newfoundland and Labrador. The oversight process will focus on project costs, scheduling, and overall project performance.
• Responsible oversight of the Muskrat Falls Project continues to be undertaken by the Government of Newfoundland and Labrador, Government of Canada, Nalcor Energy, project lenders, and independent experts.
• There has been more information made public about the project than any other in the province’s history, providing the opportunity for review by the public, government, and independent experts.
• Muskrat Falls will meet the province’s growing energy needs, provide the least cost source of electricity for the future, and will benefit Newfoundlanders and Labradorians for generations to come.

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Media contact:
Diana Quinton
Director of Communications
Department of Natural Resources
709-729-5282, 631-8155
dianaquinton@gov.nl.ca

BACKGROUNDER
House of Assembly Resolution

WHEREAS senior officials of our government have been involved in oversight of the Muskrat Falls Project at every stage;

WHEREAS our government has just announced further mechanisms to provide oversight of the Muskrat Falls Project;

WHEREAS the Government of Canada provides oversight of the project through its role as guarantor of the $5 billion in project financing;

WHEREAS our government has subjected this project to a greater level of scrutiny than has been brought to bear on any other project in our history;

WHEREAS the Board of Directors provides oversight of Nalcor, and Nalcor is also required to account, through its internal audit department, its regular reports to the government, its regular audited financial statements and its public annual general meetings;

WHEREAS these oversight mechanisms reflect our government’s commitment to ensure the public is provided with as much information on the Muskrat Falls Project as possible without jeopardizing commercial interest;

THEREFORE BE IT RESOLVED that this Hon. House supports the government’s actions to provide greater oversight of the Muskrat Falls Project.

2014 03 26                                        9:30 p.m.