Thank you, Mr. Speaker, 30 years ago the GNWT had a great idea. That was to expand the Taltson Hydro Project, connect the North and South Slave region, and sell power to the upcoming diamond mines. And, Mr. Speaker, if we did that, it's pretty clear that the Taltson Hydro Project would have paid for itself and then some, as the diamond mines use a lot of power, Mr. Speaker, more than the entire territory combined. Yet, Mr. Speaker, here we are 30 years later and we have not built the Taltson Hydro Project and, seemingly, every single year the business case has gotten a little worse. So bad, in fact, that when we were promised it in the mandate for Spring 2020, it wasn't delivered. And here we are in Spring 2023 without a business case. And even more ridiculously, in the last session the Minister of Infrastructure said that business case would never be public, Mr. Speaker. It's going to be a confidential business case because they want to hide just how bad this project has become.
Mr. Speaker, the last business case we have which was public is from 2014. It estimated this project to cost $1.2 billion. I asked the Minister how much this project is going to cost now. She refused to tell me, Mr. Speaker. Well, some backofanapkin math putting into a construction producer price index tells you it's going to cost about $1.8 billion. If you look at similar hydro projects, it's more likely about $2.5 billion. Yet, Mr. Speaker, this is an insane way to have a public debate where I am ball parking within hundreds of millions of dollars the future of our energy needs, Mr. Speaker.
We need to release the business case. We need to answer some basic questions. How much is this project going to cost? Where is it going? Who are we selling this power to? How much are we selling the power for? Very basic questions that the public has a right to know and mines have a right to know and industry has a right to know.
Mr. Speaker, we need to know whether this project will lower or raise rates. Quite often, power hydro projects actually raise rates. Initially you have to find the money to finance the project and you do that on ratepayers. I'm fine with doing that, but let's know whether this project will raise or lower rates. A very basic question that ratepayers have a right to know, Mr. Speaker. Will this project pay for itself? Does it make any sense to do this, or are we just holding on to 1993 and the hope of getting power to the diamond mines which are now winding down. I'll have questions for the Minister of Infrastructure about what is going on and what's going to be made public. Thank you, Mr. Speaker.
