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BondCast S5 E3 - Shadow of the Vampire

Three Big Details of the revamped 1969 deal to curl your hair
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  1. 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.

  2. This really is a fixed price contract with made-up escalators that actually don’t escalate anything.

  3. 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.

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