No plans to ask Justin Trudeau about Muskrat 'mortgage' during PM's visit: Coady

The Public Utilities Board recommending renegotiating the terms of the Muskrat Falls loan with Ottawa as part of a strategy to keep power rates from doubling in the next few years.

Trudeau is expected to be in St. John's Thursday evening and into Friday

Siobhan Coady says she has no plans to ask Prime Minister Justin Trudeau about the province's Muskrat mortgage during his upcoming visit to the province. (Danny Arsenault/CBC)

The province's natural resources minister says she won't be discussing Muskrat Falls money with Prime Minister Justin Trudeau when he's in St. John's Thursday.

"I have no plans at this moment to speak to the Prime Minister about this issue," she told CBC Radio's St. John's Morning Show. 

"Certainly he's coming in town to visit with local Members of Parliament. I probably will see him in the course of the day, as will many people in the city of St. John's. But you can be sure that we have ongoing discussions with Ottawa on a number of issues."

On Tuesday, the Public Utilities Board released an interim report confirming that power rates will indeed double by 2021 unless action is taken. 

The board's recommendations include widespread adoption of electric cars to increase electricity demand, fat-cutting at Nalcor and re-negotiating the terms of the Muskrat Falls loan from Ottawa.

"Of course there will be a discussion with the federal government around managing this mortgage," Coady said, adding that government will discuss the terms with the federal government "just as with your personal mortgage you would talk to your banker."

That discussion just won't happen during Trudeau's visit this week, she said.

The Prime Minister is expected to be in St. John's Thursday night and into Friday.

Read more articles from CBC Newfoundland and Labrador

With files from the St. John's Morning Show


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