Quebec and N.L. Hydro CEOs to meet in Churchill Falls on Monday

CBC News

· Posted: Mar 07, 2025 3:27 PM EST | Last Updated: 3 minutes ago

The apical executives with government-owned utilities from Quebec and Newfoundland and Labrador volition conscionable successful Churchill Falls on Monday arsenic some sides enactment toward formalizing a historical caller vigor woody betwixt the 2 provinces.

Newfoundland and Labrador Hydro CEO Jennifer Williams and Hydro-Québec CEO Michael Sabia will circuit the company-owned town, and the monolithic Churchill Falls generating station. It volition be Sabia's archetypal sojourn to Churchill Falls.

The 2 executives volition besides sermon the Churchill Falls memorandum of understanding, and the ambitious program to formalize definitive agreements earlier the outpouring of 2026.

Williams and Sabia volition besides big a associated media availability by video conference.

The non-binding Churchill Falls MOU was announced successful December, and aims to regenerate the lopsided and arguable 1969 Churchill Falls agreement, which expires successful 2041. The existing statement allows Hydro-Québec to acquisition astir each of the energy from the presumption astatine .2 cents per kilowatt hour, which is practically escaped vigor from a presumption with a capableness of much than 5,400 megawatts.

Under the caller model agreement, Newfoundland and Labrador volition person an mean of $1 cardinal annually up to 2041, retroactive to 2024, and the watercourse of gross volition proceed to escalate aft that.

Premier Andrew Furey has said the caller powerfulness declaration and caller developments connected the river, including Gull Island, volition inject an estimated $227 cardinal into the province's treasury implicit the adjacent 50 to 60 years.

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