ST. JOHN'S, Que. — Quebec Premier François Legault and Newfoundland and Labrador Premier Andrew Furey are scheduled to announce an energy agreement Thursday that could end decades of friction between the two provinces.
ST. JOHN'S, Que. — Quebec Premier François Legault and Newfoundland and Labrador Premier Andrew Furey are scheduled to announce an energy agreement Thursday that could end decades of friction between the two provinces.
The current agreement has left lasting bitterness in Newfoundland and Labrador, and Furey has vowed to fight for a new arrangement that will better serve the province. As of 2019, the partnership had yielded close to $28 billion in profits to Quebec, and about $2 billion for Newfoundland and Labrador.
Quebec gets about 15 per cent of its energy from the Churchill Falls plant. Hydro-Québec will maintain its 34.2 per cent share of Churchill Falls Corp., the entity that operates the generating station and transmission equipment, when the contract expires. The rest is owned by Newfoundland and Labrador Hydro, the province's Crown energy corporation.
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Read more »
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