The premiers of Quebec and Newfoundland and Labrador, along with their respective power company leaders, gathered in Saint John on Tuesday to finalize a significant energy partnership agreement between the two provinces.
Newfoundland and Labrador Premier John Hogan emphasized the ongoing commitment to reaching a final agreement by April 2026, despite calls from his province’s Progressive Conservatives for negotiations to be paused.
Hogan underscored the importance of the energy partnership as a key focus of the upcoming provincial election campaign, stressing that any delay in the process could jeopardize the entire agreement, which was discussed during his meeting with Quebec Premier François Legault.
The partnership involves Hydro-Québec and Newfoundland and Labrador Hydro negotiating a new agreement to amend an existing contract, allowing for an earlier termination and revised terms that benefit both provinces.
One of the key points of contention has been the fixed price tag of approximately $33.8 billion included in the draft agreement, with critics voicing concerns about its market value sustainability. Jennifer Williams, CEO of Newfoundland and Labrador Hydro, clarified that the final rates will be tied to the energy market to ensure fairness and adaptability.
In addition to the energy partnership, the officials discussed potential mining opportunities along the Quebec-Labrador border, highlighting the broader economic prospects of the collaboration.
Progressive Conservative Leader Tony Wakeham expressed the need for greater transparency and understanding of the agreement among the people of Newfoundland and Labrador. He proposed a review by an independent third party to ensure the agreement’s long-term benefits and fairness.
While there have been differing views on the negotiation process and timelines, all parties involved are working towards a mutually beneficial resolution to solidify the energy partnership and foster economic growth for both provinces.
