Churchill Falls MOU 'won't be held ransom' by Quebec election: N.L. premier

[Dr Strangelove]

Don't look a gift horse in the mouth! I understand the need to vet but you need to get the deal signed! If this is left to the BQ they will tear it up and newfoundland will be out in the cold.

Since this was a deal brokered under the provincial liberals that he defeated he may be foot-dragging to kill the deal on principal.

[Dr Strangelove]

Panel concludes Quebec energy deal is not good enough for Newfoundland and Labrador
What the panel found
The three‑person independent panel reviewed the 2024 draft framework agreement between Newfoundland and Labrador Hydro and Hydro‑Québec. Their key conclusions:

Newfoundland and Labrador would not receive enough power under the proposed allocations.
This shortfall could limit industrial growth, especially in energy‑intensive sectors like mining.

Pricing and allocation structures favour Quebec, reducing the long‑term economic upside for Newfoundland and Labrador.

Hydro‑Québec holds a conflict of interest, being both a minority shareholder and the primary customer for future Churchill River hydro developments.

The previous Liberal government may have weakened Newfoundland and Labrador’s negotiating position through political interference.

The draft deal would bring an estimated $36 billion (present‑day dollars) to Newfoundland and Labrador through 2085 — but at the cost of constrained power access and reduced economic potential.

Political fallout
Premier Tony Wakeham says he will not sign the deal as written and will seek to renegotiate.

Quebec Premier Christine Fréchette maintains the agreement is mutually beneficial and is waiting for Newfoundland and Labrador’s next move.

Both governments say they remain open to continued negotiations despite the framework’s expiration.

[al_keda]

No deal is better than a bad deal.