Newspaper article The Canadian Press

Report Says Labrador Hydro Project Better Managed, but Still Facing Risks

Newspaper article The Canadian Press

Report Says Labrador Hydro Project Better Managed, but Still Facing Risks

Article excerpt

Muskrat Falls risks better managed:report

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ST. JOHN'S, N.L. - A new report says Newfoundland and Labrador's Crown utility Nalcor is doing a better job of keeping track of the cost and the risks associated with its timetable for the $12.7 billion Muskrat Falls hydroelectric project.

However, the EY report released Thursday, also says the project still faces a high level of risk because of work complexity and the approach of the winter season.

EY also says Nalcor has identified three risks not included in its June forecast, including significant protest unrest, vegetation and soil removal, and unforeseen directives from government.

The report follows an interim report released in April 2016 that called for better oversight of a project that was significantly behind schedule and plagued by cost overruns. …

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