Churchill Falls deal expected tomorrow
As NTV News reported on Wednesday, a Churchill Fall deal appears ready, but neither government is confirming that a final agreement has been made.
We now know Premier Tony Wakeham will be joined by Christine Fréchette, Premier of Quebec, Monday afternoon for an announcement regarding energy security and economic development. Premier Fréchette will be accompanied by Quebec’s Minister of Economy, Innovation and Energy, Bernard Drainville, and President and Chief Executive Officer of Hydro-Québec, Claudine Bouchard.
Premier Wakeham’s office confirmed to NTV News late last week that significant progress in their negotiations with both Quebec and the Government of Canada, as it relates to replacing the 2024 MOU with a new deal for Churchill Falls and Gull Island has been made, but as of right now, no final deal has been signed.
The Churchill Falls power contract has been one of the most contentious issues in Newfoundland and Labrador for decades.
The original 1969 agreement gave Quebec access to the vast majority of the power generated at Churchill Falls at a fraction of market value. That contract expires in 2041 and negotiations over the future of the Churchill River have been aimed at reshaping the relationship between the two provinces.
NTV News will have comprehensive coverage on Monday and will take the announcement live on NTV and NTV+.
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