CEO and President Jennifer Williams says as it stands under the 1969 Churchill Falls contract, it provides Quebec with 15 percent of their power needs.
The first of four webinars hosted by NL Hydro about the MOU with Hydro Quebec got underway yesterday with about 200 attendees. CEO and President Jennifer Williams says as it stands under the 1969 Churchill Falls contract, it provides Quebec with 15 percent of their power needs. At a fixed price of 0.2 cents, Williams says that’s just about free and because of that price, they have made billions by selling excess power over the years. NL has gone as far as the Supreme Court of Canada, which deemed the deal. Valid. Williams says Hydro Quebec also owns one third of the plant. NL Hydro owns two-thirds, which Williams says does not change at the end of the contract. She says this new MOU indicates a new, fair and competitive deal will replace the 1969 contract.
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