Hydro-Québec signs memorandum to replace Churchill Falls agreement with Newfoundland and Labrador

Type: Partnership · Technology: Hydro, Transmission · Country: Canada · Announced: 2024-12-13

Hydro-Québec and the government of Newfoundland and Labrador signed a memorandum of understanding to replace the 1969 Churchill Falls power contract, under which Quebec will pay an average price of 5.9¢/kWh and gain access to up to 7,200 MW over 50 years, while Newfoundland and Labrador Hydro will receive roughly $1 billion per year until 2041 with potential further increases.

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