MONTREAL — Quebec and Newfoundland and Labrador have announced an agreement in principle that would overhaul the contentious Churchill Falls energy deal.
Hydro-Québec President and CEO Michael Sabia calls it a balanced deal that benefits both provinces, securing low-cost energy for Quebec at a price that is more beneficial to the Atlantic province compared to the previous 1969 deal.Quebec secures electricity from the Churchill Falls plant into the future at a fairer price for Newfoundland and Labrador. Hydro-Québec says the Atlantic province currently receives about $100,000 yearly and that will rise to $1 billion.
A major part of the deal will have Hydro-Québec will pursue new developments, notably Gull Island, a 2,250-megawatt project targeted to be operating by 2034-2035. There will also be an expansion at the existing Churchill Falls site, with a new generating station built beside the current infrastructure, also by 2035, with a capacity of 1,110 MW. Better performing turbines at the current Churchill Falls site will allow for a capacity increase of 550 MW between 2028 and 2038.
The average energy price from Labrador will come in at 6 cents/kWh, and Quebec would have access to 7,200 MW over the next 50 years once all the projects are complete.With a new generating station at Gull Island and upgrades to Churchill Falls, it would be the second-largest hydroelectric complex in North America behind Hydro-Québec's James Bay development.
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