The provincial government introduced legislation Wednesday related to the Mactaquac dam.
The Mactaquac Life Achievement Project Act is intended to provide clarity and certainty to NB Power and companies providing equipment and services for a potential refurbishment of the dam.
In a press release, Energy Minister René Legacy said the legislation doesn’t approve the project.
“But (it) will help ensure it can move ahead in a timely fashion,” Legacy said. “We recognize that this project is a major endeavour, logistically and financially, and we have created legislation to improve its feasibility.”
If passed the legislation would:
- Exempt the project from the bonding requirements of the Construction Remedies Act, while maintaining the five per cent holdback under Section 34. This is deemed necessary because the Canadian surety market cannot generally provide 50 per cent bonds for contracts lasting more than five years.
- Designate the project as a “major project” under the Industrial Relations Act, once the labour agreement process has concluded with trade associations and unions, which will ensure labour stability and cost certainty.
- Clarify that all procurements related to the project are exempt from the Procurement Act, removing ambiguity and allowing NB Power to proceed with confidence and flexibility.
- Provide certainty to federal funding instruments, such as the Canada Infrastructure Bank, that the provincial government is ready to negotiate agreements that can meet their terms and conditions.
NB Power has previously stated any refurbishment project could take 12 to 15 years.
