New Churchill Falls Deal Not Just About Replacing 1969 Contract, says Energy Minister
Energy Minister Lloyd Parrott explains that the new hydro development deal with Quebec is intended to revitalize the economy of Labrador and the entire province. The agreement goes beyond replacing the 1969 contract by focusing on infrastructure and resource investment.
Why it matters
This deal represents a significant shift in regional energy policy and economic development strategy for Newfoundland and Labrador.
Energy and Mines Minister Lloyd Parrott (VOCM News)
The province’s energy minister says an agreement reached with Quebec on hydro development is not just about getting a better deal than the original 1969 Upper Churchill contract, it’s also about the benefits that will come, not just to Labrador, but the entire province.
Lloyd Parrott says it was all part of the consideration that government has given to accepting the new deal.
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