Thread by @BenMurphyVOCM

“Protecting You From the Cost Impacts of Muskrat Falls”. Government is now rolling out their rate mitigation plan for Muskrat Falls. Finance Minister, Tom Osborne kicked things off, Premier Ball speaking now. Touches on all the work MP Seamus O’Regan has done. @VOCMNEWS #nlpoli

Ball slams the Muskrat Falls Project and the challenges they inherited.

“Just imagine how much better off we’d be today if we had access to that revenue..” - talking about the 200M gov will put to rate mitigation that could’ve gone to roads, schools,
Hospitals, etc. #nlpoli

“As you will see in our plan there is no single solution for paying for Muskrat Falls...”

“We are committed to keeping rates stable and with this plan we will do just that...” - Premier Ball #nlpoli @VOCMNEWS

Government now showing a very, very brief video on their rate mitigation plan. @VOCMNEWS #nlpoli

Natural Resources Minister, @SiobhanCoadyNL now speaking to the details of the plan.

“We now have a plan to keep our electricity rates from doubling... it’s challenging but it is possible” #nlpoli @VOCMNEWS

A look at governments breakdown on how the plan on “Closing the Gap”. #nlpoli @VOCMNEWS

Gov says managing electricity rates will require investment from the province, reducing expenses, raising revenues and financial management. Here is a brief look at what the NL Investment looks like. 200M in Nalcor Dividends as committed in Budget 2018. #nlpoli @VOCMNEWS

Reducing Expenses is interesting. $20M in “Organizational Change”. Says they will reduce duplication and improve efficiency at Nalcor as well as align employee compensation with government. Does that mean salaries at Nalcor are going to be cut? We’ll find out soon. #nlpoli

Also under “Raising Revenues” it says gov will use fuel switching and electrification - switching publicly funded buildings from fossil fuel to electricity. That allocates $15M. Gov says that doesn’t include buildings like MUN and Hospitals. #nlpoli @VOCMNEWS

That’s a wrap on the announcement and the Liberals are certainly pleased.

With this announcement and the others today, the House of Assembly is sure to be interesting this afternoon. @VOCMNEWS #nlpoli