Newfoundland-Quebec Energy Deal Approved
This is a Newfoundland news story, published by financialpost, that relates primarily to The Churchill Falls news.
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Quebec governmentfinancialpost
•Churchill Falls energy deal gets green light in Newfoundland and Labrador
72% Informative
Opposition Progressive Conservatives walk out of the legislature in protest, without casting a vote.
The agreement promises about $227 billion in revenue to the Newfoundland and Labrador treasury.
Under the old agreement, Hydro-Quebec purchased about 15 per cent of its energy from the Churchill Falls plant at prices far below market value.
The province is carrying a net debt of about $17.7 billion , and the province is about $10.4 billion .
The Churchill Falls facility has a generating capacity of around 5,400 megawatts .
It produces about 34 billion kilowatt-hours annually — roughly enough to power Denmark .
Final, binding agreements with Hydro-Quebec , which are expected in 2026 , are expected.
VR Score
77
Informative language
76
Neutral language
70
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formal
Language
English
Language complexity
54
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Time-value
short-lived
External references
8
Source diversity
5