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Wednesday, April 24, 2019

Crosbie Rate Plan Means People Pay Zero,
While Ball's Has a Gaping $200 Million Hole

St. John’s, NL (April 24, 2019) – PC Opposition Leader Ches Crosbie said the Crosbie rate
mitigation plan means ratepayers won’t pay a penny more for Muskrat Falls.

We were the first to announce a mitigation plan, even though Ball had exclusive access to more
information. But in the end, his numbers were not appreciably different from ours.

Ball could not attack the PC plan on its merits, so he made something up.

The Crosbie plan will keep rates at 14.67 cents – precisely the rate before Muskrat power comes
on stream. Under the Crosbie plan, ratepayers will pay zero for Muskrat Falls on their power
bills. Ball claims the Crosbie plan will raise rates to 17 cents. That’s a fabrication.

The Liberals tried to upstage the Crosbie plan by adding an extra $200 million for mitigation.
The trouble is, Ottawa did not play ball. Trudeau, Morneau and O’Regan did not deliver a dime
of the $200 million Ball announced. That’s why his numbers don’t add up.

Fortunately, ratepayers have the choice of electing a new government whose numbers do add up.

The Crosbie plan is based on the best available information from the Public Utilities Board,
Liberty and Synapse, and will be updated as they continue to drill down to find new sources for
mitigation. It was Crosbie who first called on the PUB to do this work.

The Crosbie plan uses funds from the Muskrat Falls dividends, maximizes export sales,
restructures Nalcor to reduce costs by 10%, factors in oil that Holyrood will not have to burn,
and takes some of the Nalcor cash flow from its petroleum arm.

If we were getting our fair share of Equalization, there would be money for mitigation and more
to spare. Crosbie plans to hold a referendum on Equalization fairness, which – if passed – would
obligate Ottawa to open up negotiations with the province – talks that Ball failed to achieve.

Ball had four years to announce a sound rate mitigation plan. Crosbie beat him to it.
Crosbie’s plan will see people paying zero, while Ball’s numbers don’t add up.

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Media Contacts:
Bradley Russell: 709-746-1505
Denise Tubrett: 709-746-4070

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