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Premiers Push Toward Final Churchill Falls Deal as N.L. Election Looms

The talks hinge on a reported plan to end the long-standing contract early with an estimated $33.8 billion flowing to Newfoundland and Labrador over 50 years.

Overview

  • Quebec and Newfoundland and Labrador premiers met in St. John’s with Hydro-Québec and N.L. Hydro leaders to work on final terms of a sweeping energy partnership.
  • Negotiators are discussing ending the existing Churchill Falls contract 16 years early, which now lets Hydro-Québec buy most power at very low prices.
  • A reported draft outlines roughly $33.8 billion in payments over five decades for Churchill Falls power and collaboration on additional energy projects.
  • Premier John Hogan warns a pause could end the partnership and casts the agreement as a defining issue in a provincial election expected this fall.
  • Opposition Leader Tony Wakeham calls for a pause and independent review of the draft, and Hogan says the delegations also explored Labrador mining opportunities.