The federal government will provide the loan guarantee as long as three criteria are met, including the project having national and regional significance, economic and financial merit, and reduce greenhouse gas emissions significantly.

The loan guarantee is subject to a number of conditions, one being confirmation from an independent engineer that project execution plans are commercially responsible. Also, satisfaction of all environmental conditions, required approvals and permits must be in place.

The $1.3 billion dollar loan guarantee for the Maritime Link will lower borrowing costs by more than $100 million dollars over the life of the project, which is said to lower cost-electricity to families in our province.

The amount of debt that Emera can have related to the equity it brings to the project is 70/30, unless the UARB sets those numbers differently.

The UARB is scheduled to decide whether or not the project is the lowest cost option for Nova Scotia ratepayers as soon as Emera files the Maritime Link project for a full transparent hearing.