Thank you, Mr. Speaker. My questions are for the Minister of Infrastructure.
The last public business case estimated Taltson to cost $1.2 billion. We know construction inflation has gone up quite a bit so it's clearly not going to cost us $1.2 billion anymore. Can the Minister just tell us how much this project is going to cost? Thank you.
Thank you, Member for Yellowknife North. Minister responsible for Infrastructure.
Mr. Speaker, the Taltson steering committee, comprised of leadership from the GNWT, Akaitcho First Nation, and Northwest Territories Metis Nation, have not yet selected a preferred transmission line route for this project. We are currently considering two options. Phase one of the project, one that travels west around the Great Slave Lake following the existing highway network and one that travels directly to Yellowknife via submarine cable. Cost estimates for both options have recently been updated and are being reviewed on a confidential basis by our Indigenous partners as well as Canada Infrastructure Bank. Mr. Speaker, we collect more information and proceed towards a final construction decision in the coming years. We will continue to refine our project cost estimates. This is a complex transformational project and providing a global project cost estimate at this time is very premature. We recognize it is important that this project is done cost effective so that we could keep public informed of the progress. Thank you, Mr. Speaker.
Yeah, Mr. Speaker, that wasn't an answer. I just want to know whether like, are we at a $2 billion ballpark? A $3 billion? I mean, hydro projects have really gone over budget in almost every other jurisdiction in Canada. The 2014 business case is entirely built on the idea of selling to the diamond mines, our energy strategy and our emissions reductions is entirely built on replacing the diesel from the diamond mines. I don't believe what the Minister's talking about involves that but that's not public. So can I just confirm whether any of this work is about being a transmission line and selling the power to the diamond mines in the Slave Geological Province Corridor? Thank you, Mr. Speaker.
Thank you, Mr. Speaker. Mr. Speaker, as a general rule detailed business case information is not made public, and I just I'm saying that again. I've said that numerous times, it's not made public. You know, we are pleased, however talking about, you know, some of the mines that could buy the power. We're pleased to have received support and positive response from mining companies that are currently active here in the Northwest Territories and continue to monitor publiclyavailable information. We have assessed publiclyavailable information for ten mining companies with active interests here in the territories. We've had a number of conversations and there are significant interests in using green renewable energy from this Taltson project. Mr. Speaker, in fact, mining proponents have told us that access to green energy is critical to the successful advancement of their interests and its operations. Thank you, Mr. Speaker.
Thank you, Mr. Speaker. I believe in the last few years I've met with every mining company in the Northwest Territories. I know many of them the capital markets are tight, the investment market is tight, but many of them are struggling, you know, and it takes decades, you know, to get them to production. The diamond mines are winding down. I heard the Minister say they've talked to ten potential mines, and I honestly can't think of ten that are on a transmission line. I don't believe there are ten that are anywhere near hydro power. But can we make that public? Who are these mines; who are these ten potential mines that would buy power? It seems a stretch of imagination that there are ten mines that are coming into production. That would be great news if we had ten mines coming into production with power purchasing agreements, but I don't believe we do. Can we figure out who those ten mines are? Thank you, Mr. Speaker.
Thank you, Mr. Speaker. Mr. Speaker, I don't believe I said that there would be ten mines coming on board. I think I said that we are speaking to some of the mining companies that could perhaps tie into the Taltson project. Thank you, Mr. Speaker.
Thank you, Minister. Final supplementary. Member for Yellowknife North.
Yeah, well, I guess I didn't hear what mines those could potentially be. You know, Pine Point is the most obvious one if we're expanding Taltson. Now they're hopefully going to come online and buy power. Maybe Gold Terra, I don't know. Like, why am I just randomly naming mines that the Minister won't tell us?
I guess the last most important question is can the Minister explain what this is going to do to rates? Do we have any idea what rate we're going to sell this power for. Will it increase cost to ratepayers, or is the plan that we're going to sell so much and make a profit that it will lower it? I'll note most hydro projects have to initially increase rates to finance it and then, eventually, you know, maybe over 50 years, you get a pay back. But can the Minister tell us what effect this will have on ratepayers? Thank you, Mr. Speaker.
Thank you, Mr. Speaker. A key objective of the Taltson Hydro Expansion is to provide access to affordable and reliable energy sources for Northwest Territories residents and businesses. Ultimately, it is our vision that the project will benefit Northwest Territories in the ways that have positive impact on residents, businesses, and our future economic prosperity as a territory. Thank you, Mr. Speaker.
Thank you, Minister. Oral questions. Member for Great Slave.
