Quebec and Newfoundland and Labrador reach energy agreement
The non-binding plan would direct more than $50 billion into new hydro, wind and transmission projects and could send up to 985 megawatts to U.S. markets.
- On Monday, August 17, 2026, Prime Minister Mark Carney, Newfoundland and Labrador Premier Tony Wakeham, and Quebec Premier Christine Fréchette unveiled a tentative $50 billion agreement to share Churchill Falls energy and launch new hydroelectric and wind projects.
- The accord aims to terminate the 1969 Churchill Falls contract, which sold electricity to Hydro-Quebec at fixed, ultra-low rates of $0.002/kWh, addressing decades of interprovincial grievances over historic revenue imbalances.
- Supported by $10 billion in federal financing, the deal resets Newfoundland and Labrador's project value to $49 billion net present value, with Hydro-Quebec's purchase price rising from 1.8 cents per kilowatt hour in 2027 to an average of 7.4 cents over 50 years.
- Wakeham cancelled his campaign promise of a public referendum, instead scheduling a special House sitting for September 14 to allow legislators to scrutinize the deal on behalf of constituents.
- Quebec Premier Christine Fréchette must call a provincial election by October 5, with the Parti Québécois leading in polls; opposition leader Paul St-Pierre Plamondon wrote that the deal would remain priority "if the agreement is positive for Quebec.
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Historic deal signed for Churchill Falls and Gull Island - NTV: Newfoundland and Labrador's Most Trusted News Source
A new deal has been signed to develop Churchill Falls and Gull Island. The historic agreement between the province, Quebec, and the federal government was signed in St. John’s this afternoon. NTV Legislative Reporter Ben Cleary reports. The post Historic deal signed for Churchill Falls and Gull Island appeared first on NTV: Newfoundland and Labrador's Most Trusted News Source.
North America's 'largest-ever clean energy deal' signed by Newfoundland and Quebec
The $50 billion-plus hydro and wind power plan in Churchill Falls, compared by Prime Minister Mark Carney to 1970s’ James Bay hydroelectric megaproject, aims to put to rest long-running dispute over electricity supply deal between the two provinces.
Rocky Mountain Outlook
Quebec and Newfoundland and Labrador reach tentative energy agreement worth billions
ST. JOHN'S — Leaders in Quebec and Newfoundland and Labrador unveiled details of an ambitious new energy plan on Monday, which Prime Minister Mark Carney described as the largest clean energy investment in North America.
A new version of the agreement has been announced. Will it be the right one? "The Duty" takes stock.
TVA Nouvelles
Le Journal de MontrealThe project is much larger, but will also cost much more.
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