The proposed multi-billion-dollar Muskrat Falls hydro project took a step forward with the signing of 13 formal agreements between Newfoundland and Labrador and Nova Scotia. Nova Scotia utility Emera would get 20 per cent of the power for covering 20 per cent of capital and operating costs. Nova Scotia Energy Minister Charlie Parker said bringing in renewable energy would mean an annual cost increase for the province's power customers during the life of the deal. (In October, the government of Newfoundland and Labrador raised its capital cost estimates for the proposed Muskrat Falls hydroelectric project to 7.4-billion dollars. That was up more than one-billion dollars from when the government announced plans two years earlier.)

Date: 2012-07-31
Placeline: ST JOHN'S, Newfoundland and Labrador.
Source: The Canadian Press
Length: 14 seconds

Transcript Prediction: << that's my understanding that renewable energy is ruffies going up one to 2% to the overall electricity cost will be 2 to 3 % to but that in stabilizing after after that. Of time >>

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