Ottawa signed a tentative agreement to provide a loan guarantee for the proposed 6.2 billion dollar Muskrat Falls hydroelectric project in Labrador. A memorandum of understanding between the federal government and the governments of Newfoundland and Labrador and Nova Scotia was signed August 19th in St. John's. Nova Scotia Natural Resources Minister Charlie Parker said it should result in millions of dollars in savings for ratepayers. (A deadline to finalize the deal was extended to January 31st.)

Date: 2011-08-19
Placeline: ST JOHN'S, Newfoundland and Labrador.
Source: The Canadian Press
Length: 18 seconds

Transcript Prediction: << just something new Under the RFP the financial advisors will have to determine in all the the type of interest rates or the you know the amount of money that will be saved but I understand it will be a significant saving and saving will go directly to the ratepayers you'll not the Nelco Romero >>

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