Quebec Reaffirms Commitment to NL Energy Deal Post-Expiration

Rivière-du-Loup, Quebec—Quebec Premier Christine Fréchette stated Friday that her province remains committed to a framework energy agreement with Newfoundland and Labrador, despite the tentative deal's scheduled expiration the previous day.

The nonbinding memorandum of understanding, unveiled in St. John's in 2024 by Newfoundland and Labrador's former Liberal government, outlined terms for Hydro-Québec to partner with Newfoundland and Labrador Hydro on new hydroelectric developments along the Churchill River in Labrador. Under the proposal, Quebec's utility would shoulder much of the cost and financial risk while receiving the majority of the power. The arrangement would also replace a longstanding 1969 contract, under which Hydro-Québec purchases electricity from the Churchill Falls plant at a fixed rate of 0.2 cents per kilowatt-hour, with escalating payments reaching 7.84 cents per kilowatt-hour by 2041, when that contract expires.

Fréchette expressed optimism about the deal's future while speaking to reporters in Rivière-du-Loup. "I am very confident about what lies ahead, in the sense that this is an agreement that is beneficial both for Newfoundland and Labrador and for...