Natural Resources
December 19, 2014
Making Responsible Decisions Through Strong Governance
Minister Responds to Oversight Report on the Muskrat Falls Project
The Honourable Derrick Dalley, Minister of Natural Resources, provided comment on today's release of the Oversight Committee's report on the Muskrat Falls Project for the quarter ending September 2014.
"The
Provincial Government is monitoring the progress of the Muskrat Falls Project closely, as is Nalcor in its
capacity as project manager. Today's report from the Oversight Committee
indicates that
overall the project remains on budget and on schedule. While some schedule
pressures have been highlighted, first power is still on track for late 2017.
Through
extensive analysis, this project has been shown to be the best way to meet our
electricity needs and diversify our economy. Diligent oversight and management
will continue."
- The
Honourable Derrick Dalley, Minister of Natural
Resources
The report outlined some scheduling pressures on the generating facilities. It also noted that the North Spur Works Ready for Diversion schedule has changed from November 2015 to September 2016. Nalcor has advised the committee that the schedule change allows project activities to be spread over three seasons instead of two. This approach reduces cost and schedule risk, ensures activities are completed with the most efficient use of resources, and has no impact on the scheduled first power date of late 2017.
The
Muskrat Falls Project Oversight Committee's report is available at www.gov.nl.ca/MFoversight/pdf/report_sept_2014.pdf 
(3.8 MB)
and includes
an assessment of project costs, schedule, and risk monitoring and mitigation. In
addition, it provides information by Nalcor regarding variances and identified
risks in response to the committee's questions. The committee's next report will
be released in February 2015.
QUICK FACTS
- The Honourable Derrick Dalley, Minister of Natural Resources, provided comment on today's release of the Oversight Committee's report on the Muskrat Falls Project for the quarter ending September 2014.
- Today's report from the Oversight Committee indicates that overall the project remains on budget and on schedule. While some schedule pressures have been highlighted, first power is still on track for late 2017.
-
The
report is available at www.gov.nl.ca/MFoversight/pdf/report_sept_2014.pdf (3.8 MB)
includes an assessment of project costs, schedule, and risk monitoring and
mitigation. In addition, it provides information by Nalcor regarding variances
and identified risks in response to the committee's questions. The committee's
next report will be released in February 2015.
- The Muskrat Falls Oversight Committee was established in March 2014 to formalize and strengthen existing oversight of the Muskrat Falls Project. In making its observations, the committee uses an extensive reporting framework, which includes project reports regularly generated by Nalcor, information specifically requested by the committee, and information required by the Independent Engineer.
- The Muskrat Falls Project will provide reliable electricity for Newfoundlanders and Labradorians at stable prices and contribute to the diversification of the Newfoundland and Labrador economy.
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Media contact:
| Diana Quinton
Director of Communications Department of Natural Resources 709-729-5282, 631-8155 dianaquinton@gov.nl.ca |
2014 12 19 12:45 p.m.