Did interest rates suspend the Lake Erie Connector Project? CEO weighs in

A physical map is shown of Lake Erie and its surrounding area. A yellow Line demonstrates where the pipeline will be running through Lake Erie
The Lake Erie Connector will connect the power grids of Ontario and the US State of Pennsylvania. The Transmission line is set to run from the retired Nanticoke Generating Station in Haldimand County to Erie County Pennsylvania. Photo courtesy of the Lake Eerie Connector Project website.
CKRZ - 100.3 FM - CKRZ - OhswekenON | 11-08-2022
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Matt Jamieson, president and CEO of the Six Nations of the Grand River Development Corporation, (SNGRDC) sat down with CKRZ FM to discuss the SNGRDC and explain further the suspended Lake Erie Connector Project, being developed by ITC Holdings Inc.

CKRZ reached out to ITC Holdings for a comment and received an email from Doug Motley, Director, Grid Solutions at ITC Holdings Corp. saying they had nothing further to add that was already publicized and is available online, including in a recent earnings call.

In that earnings call, the company points out, "macroeconomic conditions relating to rising inflation, interest rates and foreign exchange impacted the viability of the project".

Had the project gone forward, the result would have increased market access and the ability to manage energy needs and give Ontario the capacity to respond to shifting supply and demand as well as outages and system planning requirements. 

Listen to the entire interview with host CKRZ 100.3FM Compelling Conversation host David Moses in the attached audio file.

Compelling Conversations airs each Thursday and Sunday at 5pm EST on CKRZ 100.3FM