A significant energy development involving Newfoundland and Labrador and Quebec is set to be disclosed on Monday afternoon in St. John’s. While no official confirmation has been given, sources indicate a potential agreement on Churchill Falls electricity is imminent or already in place.
The announcement will feature Premier Tony Wakeham, Prime Minister Mark Carney, Quebec Premier Christine Fréchette, Quebec’s Energy Minister Bernard Drainville, and Hydro-Québec’s president and CEO Claudine Bouchard. Radio-Canada has verified that Fréchette will be signing an agreement.
Hydro-Québec will conduct a private briefing at 11 a.m. with reporters, led by Dave Rhéaume, the company’s executive vice president. Similarly, Natural Resources Canada will hold a technical briefing in Ottawa on Monday morning.
Scheduled for 1:45 p.m. NT in St. John’s, the announcement is themed around “energy security and economic development,” as stated by Wakeham’s office. Specific details beyond this are limited.
Insiders familiar with the situation, speaking on condition of anonymity, have revealed that a potential new deal on Churchill River power could provide a guaranteed transmission access of 985 megawatts through Quebec. This could potentially enable Newfoundland and Labrador to sell up to that amount to other markets.
Additionally, reports suggest that each province will benefit from a substantial increase in electricity allocation compared to the previous memorandum of understanding. Quebec may receive nearly 40% more electricity, while Newfoundland and Labrador could see an increase ranging between 25% and 60%. These enhancements would be facilitated by the proposed expansion of the hydroelectric facility at Gull Island and the capacity upgrade at the existing Churchill Falls plant.
CBC News will broadcast live coverage of the announcement on all its platforms.