Muskrat Falls is a hydroelectric generating station on the lower Churchill River in Labrador, completed in 2021 after massive cost overruns that grew the project budget from initial estimates around $6 billion to over $13 billion. The project aimed to provide clean energy for the province and export power through subsea cables to Nova Scotia. Cost overruns led to a public inquiry examining how the project went so wrong and significantly impacted provincial finances and electricity rates. Muskrat Falls demonstrates risks of megaproject development and affects municipalities through higher electricity costs and constrained provincial budgets affecting other programs and services.