NALCOR CEO DETERMINED TO BREAK TREASURY; BALL WILL LET HIM

It’s a lot to expect from a Premier still trying to make his first decision. 

But Nalcor CEO Ed Martin, having failed to do the honourable thing at last Thursday’s Nalcor AGM, will have to be pushed. Still, it is increasingly clear it won’t be Ball who will do the pushing.

One of the few items of substance that came out of the AGM was confirmation that Muskrat will be delayed and the cost will climb even higher, though I am unsure who is left to claim surprise.

Martin also said we won’t get a cost and schedule update until the end of June, leaving us to wonder if he will tell the Premier the E&Y March 31 deadline will also have to be extended.

One attendee at the AGM commented: "the new government has not taken a feather out of Ed Martin’s smooth-as-silk insouciance. He has risen above petty concerns about budgets and schedules to extol the longevity of hydroelectric projects, such as the Hoover Dam, while sacrificing the government’s commitment to open the books on the altar of “commercial sensitivity”.

ED MARTIN - THE JIG IS UP

Guest Post Written by "JM"

The release of the Government’s most recent oversight report exposes the extent to which the Muskrat Falls project is in trouble.   

With every slipping milestone, and changing cost estimate, the credibility of Nalcor’s leadership is being questioned, too.   

Both Pam Frampton at the Telegram  and the CBC’s Azzo Rezori  penned excellent columns this past weekend,  as did Russell Wangersky on Monday, which documented clear frustration with Nalcor’s ability to obfuscate the real truth on the project’s status. 

The delay to the project cannot be hidden.  One has to look no further than to the pictures of the site, 3 years into construction, to truly understand the extent of work that awaits completion.