In a
‘normal’ negotiation, if you give something, you expect to receive something in
return. The Energy Access Agreement (EAA) between Nalcor and Emera, on the
matter of ‘surplus power’, have the rewards going one way. They aren’t small either.
The original
agreement on the Maritime Link, negotiated many months ago, was rejected by the
UARB. Why? Simply put, the Agency said it
failed to meet the test of “lowest cost option” for Nova Scotia. The UARB stated the Agreement was deficient by
roughly $1 billion and that deficiency could be satisfied only with a further commitment
of virtually all NL’s ‘surplus’ power.
From the
perspective of Nalcor, or even of Emera, the original Agreement must have been thought
fair; otherwise, no agreement would have been concluded. No suggestion was ever
uttered, by anyone including by Emera, that it was coerced.
