The UARB took
just one week to digest the evidence presented at both the Technical Conference
and Hearings and write a Report. They ought to feel a little foolish for the
rush knowing it was unnecessary to create more CO₂ than a Sydney coal by burning all that mid-night
oil; the Dunderdale Government is concerned with saving face. It would have
agreed to anything.
The crux of
the matter is that UARB declared, in its July Decision, (para 216, page 70) the Maritime
Link is $706 million to $1.422 billion more expensive than the alternative
lowest cost option. It stated that its
approval depended upon Emera’s success at closing this large financial
gap. It said the gulf could be bridged if
Nalcor guaranteed to Nova Scotia sufficient surplus or “Market-priced” energy from
Muskrat Falls.
It had no concern
about price as long as the power was valued against the super competitive New
England market. A bigger fear was that Labrador mines or domestic growth might
absorb the available surplus.
