Newfoundland and Labrador Premier Kathy Dunderdale and Nalcor president Ed Martin say they are pleased that Nova Scotia's Utility and Review Board (UARB)  has approved the Maritime Link project. 

"There were no surprises here, but we're very happy with today's development," said Dunderdale.

On Friday, the UARB released a decision, which said Nalcor and the Nova Scotia energy company Emera have met its conditions to show that the $1.5-billion subsea cable would be the least expensive way to make enough market priced electricity available to consumers. 

The approval clears one more hurdle for the Muskrat Falls project since the approval is a requirement for the federal loan guarantee for the hydroelectric project. 

However, NDP MHA George Murphy said the Nova Scotia approval doesn't change his view that the Maritime Link is a bad deal for Newfoundland and Labrador. 

Kathy Dunderdale and Ed Martin

N.L. Premier Kathy Dunderdale and Nalcor president Ed Martin take questions from reporters in St. John's on Friday, following a Nova Scotia decision on the Maritime Link. (CBC)

"Nova Scotians are going to be seeing some pretty cheap prices for consumers and all that will be to the detriment of the Newfoundland and Labrador  consumers who are going to be paying the brunt for this project," said Murphy. 

Martin said the company will continue working on raising the billions of dollars needed to finance the construction of the project.