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Quebec premier feels bound by Labrador energy deal despite expiration date
Fréchette says the draft deal would secure energy supply for decades and shift much of the financial risk to Hydro-Québec.
- Quebec Premier Christine Fréchette said Friday that Quebec still considers the framework energy agreement with Newfoundland and Labrador binding, despite its Thursday expiration, and she is awaiting a response from Newfoundland and Labrador Premier Tony Wakeham.
- The expired agreement aimed to replace the 1969 Churchill Falls contract, which allows Hydro-Québec to purchase power for 0.2 cents per kilowatt hour, with rates climbing to 7.84 cents per kilowatt hour by 2041.
- Shortly after his Tories formed government, Wakeham ordered a three-person panel to review the draft deal unveiled in 2024; he received the panel's report Thursday evening and is expected to comment soon.
- John Hogan, leader of the Liberals, said he was "extremely disappointed" the expiration date passed without a binding deal, stating the province is "stuck with the 1969 contract."
- Under the non-binding framework, Hydro-Québec would manage new Churchill River hydroelectric developments, assuming significant financial risk while securing most power from the project.
Insights by Ground AI
11 Articles
11 Articles
The Premier of Quebec "very confident" to reach an agreement.
·Montreal, Canada
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The final version of the hydroelectric partnership between Quebec and NL should have been signed before April 30.
·Montreal, Canada
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Quebec still considers itself bound by its multi-billion dollar energy partnership with Newfoundland and Labrador, even though it has expired.
·Montreal, Canada
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Total News Sources11
Leaning Left7Leaning Right2Center2Last UpdatedBias Distribution64% Left
Bias Distribution
- 64% of the sources lean Left
64% Left
L 64%
C 18%
R 18%
Factuality
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