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A beaming Premier Andrew Furey is coming off a political high and turning his attention to selling Newfoundland and Labrador’s new draft deal for Churchill Falls to a public that has been scarred by costly megaprojects of the past.
On Thursday, Furey and Quebec Premier François Legault signed a memorandum of understanding to replace a lopsided 65-year-old contract attached to the Churchill Falls hydroelectric project. Hydro-Québec’s latest figures show that it sells power for 51 times what it pays for power from the central Labrador plant.
Thursday’s agreement, will greatly expand hydro production in Labrador, and is expected to yield at least $200 billion for N.L. over the next five decades.
“The sky is the limit with this power,” …
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