Premier Dwight Ball and federal cabinet minister Seamus O’Regan unveiled a new $2.5-billion deal for the Atlantic Accord on Monday.
Ottawa will pay the money to the province over 38 years. It will come from the federal government’s Hibernia equity stake. Most of the money, $1.9 billion, will be delivered by 2030.
Federal Finance Minister Bill Morneau has also committed to come to the province on Friday to begin re-examining the financing structure of the Muskrat Falls project to help with rate mitigation.