NSP Maritime Link Inc. (NSPML), an Emera Company and an affiliate of Nova Scotia Power, applied to the Nova Scotia Utility and Review Board (UARB) for approval of the Maritime Link Project at a capital cost of $1.52 billion. The Project is a 35 year investment equal to 20 percent of the total cost of Phase 1 of the Lower Churchill Projects and the Maritime Link, in exchange for 20 percent of the electricity produced from the Muskrat Falls generating station.
The application outlines the entire Maritime Link Project and demonstrates that it is the lowest cost long-term electricity supply option for Nova Scotia customers, is consistent with obligations under the Electricity Act, and meets obligations for Federal GHG emissions reductions and provincial renewable energy requirements.
The Project – the first electrical transmission connection between Newfoundland and Labrador and Nova Scotia – will include a new subsea high-voltage direct current (HVDC) electrical interconnection that can provide Nova Scotia access to energy from Muskrat Falls in Labrador.
“We must reduce our use of coal and the Maritime Link Project provides Nova Scotia electricity customers with the lowest cost option over the long-term to access clean, renewable and reli able energy for generations to come,” said Nancy Tower, CEO, Emera Newfoundland & Labrador . “This project will help make Nova Scotia’s electricity generation cleaner, and provide new opportunities for renewable energy.”
As part of the filing, NSPML is asking the UARB for approval of the estimated at $1.52 billion, plus a variance of $60 million to allow for further refinement of the estimated capital cost of the Project.
Given the significance of this project to electricity customers, Nova Scotia Power as an affiliate of NSPML and as the province’s electrical utility, will play an active role in the UARB review process, supplying information, answering questions pertaining to its business and providing witnesses during the hearing if it is deemed necessary.
[mappress] Press Release, January 31, 2013; Image: Emera