Newfoundland Rejects 2024 Hydro-Quebec Power Deal, Orders Renegotiation

7 articles · Updated · Bloomberg · May 19

Premier Tony Wakeham said Newfoundland and Labrador will reopen its electricity agreement with Hydro-Quebec after ruling out signing the 2024 memorandum of understanding.
An independent review committee set up by his government concluded the deal struck by the previous provincial administration was not in the province’s long-term interest.
Wakeham announced the shift at a Tuesday news conference, turning the committee’s findings into a formal push for new negotiations with Quebec.
The move reopens a major interprovincial power arrangement and signals a broader reset of Newfoundland and Labrador’s energy strategy under the new government.

Can Newfoundland finally break free from Quebec's energy dominance after more than 50 years?

With a $36 billion cost cited, can a new deal prevent another provincial debt crisis?