Nalcor

It concluded that electricity prices in 2025 would be roughly 10 per cent lower with Muskrat Falls than they would be if Nalcor opted to develop power sources on the island.

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JOHN'S- From Friday's Globe and Mail Nalcor Energy Corp. is forging ahead with its massive Lower Churchill power plan, despite criticism that the $6.2-billion project could become a money-losing white elephant.

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In the filing presented to the Public Utilities Board PUB, Nalcor compares the Muskrat Falls project with options that would rely on generating power on the island of Newfoundland, and concludes none of the alternatives would be more economical.

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The former regulator and top provincial civil servant said the shale gas revolution is changing the face of the North American energy market by using inexpensive natural gas to fuel power plants, which will make it difficult for Nalcor to compete in export markets.

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Nalcor CEO Ed Martin says booming Newfoundland will need new sources of power by 2015. shawn mccarthy - GLOBAL ENERGY REPORTER ST.

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Faced with mounting skepticism, Premier Kathy Dunderdale and Nalcor chief executive officer Ed Martin say they've seen nothing to dissuade them from proceeding.

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Nalcor plans to allocate 40 per cent of the Muskrat Falls power to Newfoundland, 20 per cent to Nova Scotia and another 40 per cent for export to other Maritime provinces and the U.S. Northeast or for industrial use in Labrador

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The government and companies have not yet made a final decision to proceed with the project, but Nalcor has hired SNC-Lavalin Inc. to manage the construction.

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In an interview, Nalcor CEO Mr. Martin said the booming province - which has several major mining and energy projects being planned - will need new sources of power by 2015.

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Unveiled a year ago as the start of a new era of economic co-operation for Atlantic Canada, a joint federal-provincial environmental assessment panel in August concluded that Nalcor "had not demonstrated the justification for the project as a whole in energy and economic terms."

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