Mr. Speaker, our government is tasked with balancing our efforts to address immediate energy challenges with the responsibility for investing in longer term energy solutions. Since its release last year the NWT energy plan has been the framework that has guided our work and investment to meet these two key challenges.
At the appropriate time this afternoon, as the Chair of the Ministerial Energy Coordinating Committee, I will be tabling the draft NWT Hydro Strategy. This is the next step in our government’s comprehensive and strategic approach to energy planning.
Mr. Speaker, the growing impacts of our use of fossil fuels on the environment underscore the importance of harnessing clean and renewable energy for the future. Meanwhile, rising and volatile prices emphasize the reality that we must find ways to reduce our reliance on imported diesel.
Our territory has some of the best undeveloped hydroelectric resources in Canada. It is critical that we fully explore and understand the true extent of this natural energy potential.
The actions of the Hydro Strategy are aimed at developing the environmental and technical baseline data that will enable us to make informed decisions. We will focus our actions on key strategic areas, including:
preparing for hydro development;
protecting our environment; and
financing hydro projects.
Once established, hydro facilities in the NWT will be able to provide clean, reliable energy, insulated from rising oil prices for 100 years or more.
In addition to producing clean and secure power for our communities, hydro power holds tremendous economic opportunities for our people. In fact, in the next ten to 15 years this strategy could result in over $1 billion of investment.
Developing our hydro potential, however, will require a great deal of time, effort and capital investment. This draft NWT Hydro Strategy looks forward and will allow us to consider a number of key initiatives to advance the long term development of our world class hydro potential.
I encourage all communities and residents to share in this work and to take time in the coming months to consider this draft strategy and provide us with input and comments.
Your timely insight will allow us to finalize our Hydro Strategy by April and to move forward with a concerted, long term approach to the development of our hydro resources reflective of the vision, principles and values of all NWT residents.
Together we will build on our existing hydro legacy to maximize the benefits and the promise of this sustainable energy source for future generations.
Thank you, Mr. McLeod. The honourable Minister of Health and Social Services, Ms. Lee.
