Canada's energy regulator says it won't rubber-stamp Trans Mountain's higher shipping fees. Those fees are needed to pay off the federally owned project's already ballooning debt.
for the project, which has risen six-fold from around $5 billion to $30.9 billion.
“The Commission is of the view that the Application requires a more robust hearing process than requested by Trans Mountain,” the CER wrote in its response to Trans Mountain. Initially purchased for $5 billion, the Trans Mountain expansion project’s costs have since ballooned to over $30 billion. This marks one of the costliest increases in recent memory for a pipeline project in Canada.
This is consistent with calculations by three other independent energy experts or economists that Global News spoke with.
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