NL Hydro has agreed to sell recaptured electricity from Churchill Falls not used in NL to Hydro-Quebec thereby recreating another key feature of the 1969 contract.
This really is a fixed price contract with made-up escalators that actually don’t escalate anything.
If Gull Island goes ahead but runs into trouble, the lenders could wind up with the assets (just like a defaulted mortgage). So what happens if Hydro-Quebec is the lender?
And for a bonus, a little episode during the debate that shows just how much the whole thing was a sham.
I’ll be doing a livestream on Substack or X/Twitter sometime in the next week. Send me your questions about this project and I’ll do my best to give you simple answers. There’ll also be a chance to pose questions or be part of the conversation.
Don;t forget to
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And download the Substack App…
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