Latest news with #HydroQuebec
CBC
3 days ago
- Business
- CBC
Churchill Falls project part of 'big things' Canada should focus on, says Hydro-Quebec
As shifting economic and political pressures put a new focus on nation-building projects, the head of Hydro-Quebec says it's time for Canada to step up and get the Churchill Falls project done. Government and industry officials are looking to develop more hydroelectric capacity on the Churchill River, which includes developing Gull Island, first announced in December. Hydro-Quebec CEO Michael Sabia says if the memorandum of understanding between both provinces was important when it was first announced six months ago, it has taken on greater significance across the country since. "Let's be very clear, Canada is under threat. This is a time of real, economic and political uncertainty. It's a time when Canadians need to work together to build a future," Sabia told a room of industry professionals on Tuesday during Energy N.L.'s annual conference. Prime Minister Mark Carney has said he intends to fast-track nation-building infrastructure projects, and Premier John Hogan says he raised Churchill Falls during the first ministers' meeting in Saskatoon this week. Newfoundland and Labrador Hydro CEO Jennifer Williams reiterated how high the stakes really are. "What's at stake is the ability to make us a much stronger country. And if you think 'country first'—- great. Even if you think 'province first,' a much stronger country still benefits us all," Williams told reporters. On a national level, Williams said there is an "interest and impetus" to make Canada a stronger country, and the Churchill Falls megaproject has a role to play. Other jurisdictions across the country are lobbying their own projects, she warned. "So if we pause, if we hesitate, if we sputter, we're not going to be able to grab on to that," said Williams. "Something this momentous may not come again for a very long time. And who will we have to blame?" Sabia said current political tension with the United States, and Canada's economy, is why it is important for Churchill River projects to continue moving forward. "There are those who think Canada can't do big things. And it's time to show those people are wrong. And a number of those people are in the United States," he said. "And it's time for Canada to step up and demonstrate that big things — they are what we do." He says the Churchill River project is one of those "big things." 'Turned the corner' During the conference, which runs until Friday in St. John's, Sabia, Williams and Energy N.L. CEO Charlene Johnson spoke about the development of the MOU between Newfoundland and Labrador and Quebec, and the differences each team has to overcome. WATCH | Energy industry optimistic at annual conference: Energy N.L. conference opens with optimism about province's energy future 13 hours ago Duration 3:03 The annual Energy N.L. conference opened in St. John's on Tuesday. As the CBC's Terry Roberts reports, one thing dominated discussions: the multi-billion-dollar plan to increase hydroelectric output on the Churchill River. Williams, gesturing to Sabia on stage, called him an "unlikely partner" given the relationship between the two provinces. "We have turned the corner with Hydro-Quebec and this MOU is good for both provinces. We're working closely to get this whole opportunity in place. This is not 1969," she said. Sabia also spoke to the frustration Newfoundlanders and Labradorians have felt toward what has been considered a lop-sided and unfair agreement signed decades ago. The new deal will be balanced and benefit both provinces, he said. Sabia says the Churchill River is the type of project that will help both province's economies withstand tariffs and economic uncertainty. "As a sovereign country we ought to be doing these things that demonstrate — in particular to the United States — our ability to set foundations for a resilient, prosperous and autonomous economy going forward," he said.
CTV News
3 days ago
- Business
- CTV News
Quebec, Newfoundland energy touts Canadian independence to Trump: Hydro‑Québec CEO
Chief executive of Hydro‑Québec Michael Sabia and Jennifer Williams, head of Newfoundland and Labrador Hydro are seen at an energy conference in St. John's, N.L. on Tuesday, June 3, 2025. THE CANADIAN PRESS/Sarah Smellie ST. JOHN'S — The chief executive of Hydro‑Québec says a sweeping new energy deal with Newfoundland and Labrador Hydro is a signal to the United States that Canada can get 'big things done.' Michael Sabia was in St. John's, N.L., Tuesday, where he pitched the draft deal as a turning point in Quebec's relationship with Newfoundland and Labrador, and a step toward Canada becoming an 'energy superpower.' 'Let's be clear: Canada is under threat,' Sabia told a room full of representatives from Newfoundland and Labrador's energy industry. 'This is a time of real economic and political uncertainty. It's a time when Canadians need to work together to build the future,' he said. 'Ultimately, that's what this deal is about. It's about building now to secure Canada's energy future.' Sabia was speaking to the crowd at a conference held by Energy N.L., Newfoundland and Labrador's energy industry association. He was joined on stage by Jennifer Williams, president and chief executive of Newfoundland and Labrador Hydro. The two discussed an agreement in principle announced last year that would end a contract signed in 1969 that allows Hydro‑Québec to buy the lion's share of the energy from the Churchill Falls hydroelectric plant at prices far below market value. The contract has long been a source of bitterness in Canada's easternmost province. The new arrangement would end the contentious deal 16 years early and see Hydro‑Québec pay for more power while developing new projects with Newfoundland and Labrador Hydro along the Churchill River. Newfoundland and Labrador would also get more power from Churchill Falls. The memorandum of understanding has its critics. The Opposition Progressive Conservatives have been uneasy with the draft deal, demanding the Liberal government have it independently reviewed. The party also called for a halt to ongoing negotiations of final contracts, saying a proposed national energy corridor could bring better opportunities. Some in Newfoundland and Labrador have also wondered if Hydro‑Québec can be trusted and whether the province will truly get enough value for its resources. 'Show me a deal where there hasn't ever been skeptics,' Williams challenged when asked about those who have criticisms. Sabia addressed the tangled history of the provinces several times, and said repeatedly that the new arrangement was 'balanced' and served the needs of both Newfoundland and Labrador and Quebec. Both sides made concessions, he said, adding that the deal contained items neither side wanted. He refused to elaborate on what those were. Sabia said the agreement is the 'single most important signal we can send to the United States right now,' as long as it goes ahead as planned. Williams agreed the proposed projects need to proceed smoothly and quickly, repeating 'rigour and speed are not incompatible.' Both said they were heartened by signs from Prime Minister Mark Carney that he would speed up project approvals. Williams touted the deal's promised economic benefits, which includes $17 billion in revenue to the provincial treasury by 2041. Newfoundland and Labrador expects to be carrying a net debt of $19.4 billion by the end of the current fiscal year. 'We have to take this opportunity now,' Williams told reporters after the event. 'If we don't, something this momentous may not come again for a very long time, and who will we have to blame? We have got to take this moment on.' Officials hope to have final agreements hammered out next year. In the meantime, preliminary topographic and soil studies are expected to begin in Labrador this summer, Sabia said. This report by The Canadian Press was first published June 3, 2025. The Canadian Press
CBC
3 days ago
- Business
- CBC
'The sooner the better' for Churchill Falls projects, Hogan says after meeting with PM
Newfoundland and Labrador Premier John Hogan says the Churchill Falls memorandum of understanding holds up, but federal assistance would be "great." Hogan was in Saskatoon on Monday for the first ministers' meeting with Prime Minister Mark Carney. Nation-building infrastructure projects are on the minds of many, and Carney has said he intends to fast-track them. The Canadian Press reported last week that Quebec Premier François Legault is expected to ask the federal government to help fund transmission lines that will connect Newfoundland and Labrador and Quebec to power generated by projects along the Churchill River. A draft agreement signed in December says a new deal would cost Hydro-Quebec at least $33.8 billion. Hogan confirmed that he and Legault have been discussing that idea as he spoke to reporters before Monday's conference. "We're happy to talk about that and any assistance that can benefit Newfoundland and Labrador, our ratepayers and our taxpayers," he said. "But it is important to continue with the MOU. I want Newfoundlanders and Labradorians to know we're not taking our eye off that project right now." Hydro-Quebec will construct the required transmission in its province, and N.L. Hydro is set to construct about 340 kilometres of transmission lines in Labrador, according to a fact sheet from the provincial government. Whether or not the federal government pitches in to build those lines, Hogan says Newfoundland and Labrador is in good hands. "If there can be further assistance and further discussion to make the project better, great. But if not, the project is a good project," said Hogan. The Newfoundland and Labrador government says the proposed Churchill Falls deal will see the province earn $1 billion every year for the next 17 years. Newly minted Energy Minister Steve Crocker says the province has an important seat at the table when it comes to providing green energy. "Any investment in Churchill Falls would not only benefit Quebec, but it'd benefit Newfoundland and Labrador as well," said Crocker, speaking from the Energy NL conference Monday. The minister didn't say that the province is specifically asking for the federal government to finance the transmission lines, but said Newfoundland and Labrador is working with them to ensure its resources "will contribute greatly to nation building in Canada." In a news conference after the first ministers' meeting, Legault told reporters that he thinks the new Churchill Falls deal, and the proposed Gull Island generating station, is a project of national interest. Carney, speaking in French, said he fully agrees with the Quebec premier. The governments of Newfoundland and Labrador and Quebec plan to sign binding agreements by April 2026. The prime minister said the premiers and territorial leaders discussed several projects and the federal government will assess whether they can be fast-tracked over the next few months.
CBC
3 days ago
- Business
- CBC
Spotlight on new Churchill Falls deal at annual Energy N.L. conference
As industry leaders and specialists gather in St. John's for an annual energy industry conference, the spotlight is focused on a new hydroelectric agreement being forged between Newfoundland and Labrador and Quebec. Energy N.L.'s annual conference runs until Thursday at the St. John's Convention Centre. According to the event's schedule, much of the focus will be on what's happening in central Labrador. The new Churchill Falls agreement is expected to be finalized by 2026. Government and industry officials are looking to develop more hydroelectric capacity on the Churchill River, which includes developing Gull Island, first announced in December. The first session delves into the three energy industries — oil and gas, wind-hydrogen and hydroelectricity — and how Newfoundland and Labrador fits into a global market. That's followed by a session focused on the Churchill Falls megaproject and the economic opportunities the memorandum of understanding between Newfoundland and Labrador Hydro and Hydro-Quebec could offer. Hydro-Quebec CEO Michael Sabia and Newfoundland and Labrador Hydro CEO Jennifer Williams will sit on a panel in the afternoon to discuss details about the deal. "The discussion will focus on why and how the MOU came together, the nation-building benefits of the proposed infrastructure projects — with a specific focus on Newfoundland and Labrador and Quebec — and the long-term impacts of increased hydroelectric capacity for Newfoundland and Labrador, and beyond," reads a synopsis on the conference's website. Wind-hydrogen hype The conference's second day will focus on renewable energy, particularly wind-hydrogen. Representatives from the six companies interested in establishing wind-hydrogen projects in the province — Everwind Fuels, Pattern Energy, World Energy GH2, North Atlantic, EVREC and ABO — will be on a panel to speak about the sector and its challenges. During last year's conference, the spotlight was on the nascent wind-hydrogen sector. However, since then much of the hype around wind-hydrogen has subsided. Many of the projects have downsized or are exploring alternative business cases for a wind energy farm. Earlier this year, World Energy GH2 revised its plans for a wind project on Newfoundland's west coast, pivoting from a previously proposed green hydrogen and ammonia plant, to focus on data centres and e-fuel production. Other companies have been granted extensions by the provincial government for the millions owed to the treasury for Crown land reserve fees. Global pressure But optimism around the province's energy sector remains. Energy N.L. said Newfoundland and Labrador "has a strategic advantage in sharing its lower carbon energy with the world." There's also acknowledgement of ongoing economic uncertainty. The conference website says there's "current context of the resurgence of protectionist trade policies around the globe," a possible allusion to the ever-fluctuating trade war instigated by U.S. President Donald Trump. One of the conference's final sessions will focus on Newfoundland and Labrador's place in the global market, the opportunities that exist and the "resiliency" needed to navigate the changes.
CTV News
29-05-2025
- Business
- CTV News
Quebec Premier François Legault to seek federal funds for Churchill Falls power lines
Quebec Premier Francois Legault responds to the Opposition during question period at the legislature in Quebec City, Thursday, May 29, 2025. (Jacques Boissinot/The Canadian Press) Quebec Premier François Legault says he will ask the federal government to help finance the transmission lines for hydroelectricity projects connecting his province and Newfoundland and Labrador. Legault said today that he will make the request next week during a meeting between the premiers and Prime Minister Mark Carney. Carney has promised that his government will work with the provinces to fast-track projects of national interest. The premiers of Quebec and Newfoundland and Labrador signed a new draft agreement between their provinces' utility companies in December. An eventual deal would see Hydro‑Québec pay much more for Churchill Falls power and co-develop new projects with Newfoundland and Labrador Hydro along the Churchill River. The new Churchill Falls deal is expected to cost Hydro-Québec at least $33.8 billion. It replaces an agreement signed in 1969 that allowed Hydro‑Québec to purchase the lion's share of the energy from the massive power station in Labrador for rock-bottom prices. This report by The Canadian Press was first published May 29, 2025. The Canadian Press
