Carney, Wakeham, Fréchette will meet in St. John's as provinces inch toward new deal on Churchill Falls energy

Prime Minister Mark Carney will be in St. John's on Monday to meet with Newfoundland and Labrador Premier Tony Wakeham and Quebec Premier Christine Fréchette for what they are calling "an announcement regarding energy security and economic development."

Talks of a new deal on Churchill Falls energy have ramped up over the last week. Radio-Canada has confirmed Fréchette is heading to Newfoundland to sign an agreement.

Wakeham's office issued a news release shortly after 7:30 p.m. NT on Saturday confirming Fréchette, along with Quebec's Energy Minister Bernard Drainville and Hydro-Québec's president and chief executive officer Claudine Bouchard, will be in attendance on Monday.

Hydro-Québec issued its own news release on Sunday inviting reporters to a closed-door briefing on an announcement regarding Quebec’s energy security on Monday at 11 a.m. That meeting will be held with Dave Rhéaume, Hydro-Québec's executive vice-president of energy and regulatory strategy and industrial activities.

Further, a news release from Natural Resources Canada said a media technical briefing is happening in Ottawa at 10:30 a.m. NT.

Wakeham's office had few other details to share, other than the announcement is happening at 1:45 p.m. NT in St. John's.

Late on Sunday, the Prime Minister's office said Carney will also be there.

What's known so far about the new deal — confirmed by sources with direct knowledge who are not authorized to speak publicly — is there's a guaranteed transmission access of 985 megawatts through Quebec, meaning Newfoundland and Labrador can sell up to that amount to outside markets.

And, as first reported by Radio-Canada, sources say each province will receive significantly more electricity than the previous memorandum of understanding stipulated — with nearly 40 per cent more for Quebec and between 25 per cent and 60 per cent more for N.L.

Quebec could receive around 10,000 megawatts, while Newfoundland and Labrador could get at least 2,350 megawatts — possibly as much as 3,000.

To reach that increase in electricity production, the two sides have agreed to develop an even more powerful hydroelectric facility at Gull Island and further increase the generating capacity of the turbines at the existing Churchill Falls plant.

The new agreement also includes wind power, which was not part of the 2024 MOU signed by former Liberal premier Andrew Furey and former Quebec premier François Legault.

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With files from Elizabeth Whitten