 you're probably going to be searching for quite a while," he said. "So we know it's a good deal for New Brunswick."The refurbishment should extend the plant life by another 27 years. Do the math: one third of the current estimated cost of Muskrat Falls with a third more generating capacity.
New Brunswickers will have a hard time finding anything cheaper than Point Lepreau. Newfoundlanders and Labradorians will have a hard time finding anything more expensive than Muskrat Falls. The situation Bernard describes for Quebec also applies to Newfoundland and Labrador:
Today, transporting electricity all the way from James Bay can represent up to a third of the cost,” says the professor.
“During the 1970s, oil prices spiked, and that made hydro power very appealing. For many years, the rates paid by Quebec consumers were probably the lowest in the world.”
“After years of selling our hydro to the Americans, we Canadians will soon have to buy gas produced in the northeastern United States,” notes Bernard. “The reserves aren’t endless, of course, but they’re plentiful… and tapping shale gas will cost a lot less than any other type of electricity, hydro included.”
* Originally read "three years". First power was in 1971, not 1976.