Natural Resources
December 16, 2009

The following statement was given today in the House of Assembly by the Honourable Kathy Dunderdale, Minister of Natural Resources:

Minister Reports on Progress of Energy Plan Implementation

Mr. Speaker, I rise today to update the House on the substantial progress our government has made on the implementation of our province�s first-ever Energy Plan, which we released in September 2007.

This visionary policy document of our government charts a course for the management and development of our energy resources to 2041, when the Upper Churchill contract expires, and beyond.

Mr. Speaker, our Energy Plan: Focusing our Energy contained 107 key actions to build the foundation upon which this province can seize resource opportunities and take a greater role in their development.

I am pleased to report today that two years into our multi-year implementation plan, we have moved forward on 102 of the 107 key actions in this document.

Mr. Speaker, I want to take the opportunity today to highlight the more substantial actions taken to date.

In 2008, Nalcor Energy became the corporate identity of our energy corporation. Nalcor Energy, on behalf of the people of the province, now has equity stakes in Hebron, White Rose expansion project, and the Hibernia Southern Extension. Mr. Speaker, the province is already seeing the benefit of equity with the recent discovery of additional oil resources in the North Amethyst field. The value of the discovery of this additional oil alone will cover all, or substantially all, the purchase price of our equity investments in these projects.

Mr. Speaker, Nalcor Energy is also leading a three-well drilling program at Parsons Pond on the west coast. This program will provide critical drilling information to increase interest in west coast onshore exploration. Nalcor is successfully pursuing resource development opportunities on behalf of the people of the province, just as we envisioned it would.

Mr. Speaker, as committed in the Energy Plan, our government has made available a series of high-resolution aeromagnetic maps covering western Newfoundland, and we have established two working groups to develop new measures to promote targeted onshore and offshore exploration.

Our goals of reducing greenhouse gas emissions and increasing energy efficiency are advancing. Our new Office of Climate Change, Energy Efficiency and Emissions Trading is updating the climate change action plan, and we have introduced new programming designed to assist homeowners in becoming more energy efficient. We are also taking significant steps to reduce emissions from the Holyrood generating station

Mr. Speaker, I can�t cover all 102 key actions here today, however, my department is developing an Energy Plan progress report to be published by March 2010. I thank the staff in my department and at Nalcor Energy for their work as we continue to implement the province�s Energy Plan. Thank you.

2009 12 16                             2:10 p.m.