Quebec Premier Francois Legault and Andrew Furey, Premier of Newfoundland and Labrador sign a memorandum of understanding during an announcement in St.John's, Thursday, Dec. 12, 2024.The agreement addresses the termination and replacement of the 1969 Upper Churchill contract and the co-development of Gull Island hydroelectric project.
With demand expected to surge, Hydro-Québec says it has secured a new source of energy for demands to come.Quebec Premier François Legault and Andrew Furey, premier of Newfoundland and Labrador, sign a memorandum of understanding on Thursday in St. John's. The agreement replaces a 1969 Churchill Falls energy deal.
"For us to have access to power at such a powerfully attractive price over 50 years, and that quantity of power, that helps us secure Quebec's energy future," Sabia toldLike Quebec Premier François Legault and Newfoundland Premier Andrew Furey, Sabia billed the deal as a "win-win," after years of acrimony.Under the agreement signed in 1969, the Atlantic province receives 0.2 cents per kilowatt hour, amounting to roughly $100,000 annually.
Under the new deal, as of Jan. 1, Quebec will pay an average price of 5.9 cents per kilowatt hour, netting Newfoundland and Labrador Hydro about $1 billion per year until 2041, when that amount could climb further. The new contract also lays out a partnership between Hydro-Québec and Newfoundland and Labrador Hydro to expand the current Churchill Falls power plant, and build another one further along the Churchill River at Gull Island.There was applause, hugs and almost too many politicians to count in St. John’s Thursday, when the premiers of Quebec and Newfoundland and Labrador announced a memorandum of understanding to end the notorious Churchill Falls agreement 17 years early.
On Thursday, the Innu Nation in Labrador was on hand to sign the memorandum between the two provinces. The project will require some 200 kilometres of new transmission lines to connect Gull Island to La Romaine, a hydroelectric complex in Quebec. Those transmission lines will pass through First Nations territories, and Sabia said Hydro-Québec would open a dialogue with First Nations communities in Labrador and Quebec.
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