Memorandum of understandingNewfoundland and Labrador / QuebecExpired

Memorandum of Understanding for a New Long-Term Energy Purchase and Development Initiative between Newfoundland and Labrador Hydro and Hydro-Québec (Churchill Falls MOU 2024-12-12)

Largely non-binding memorandum signed on 12 December 2024 by Newfoundland and Labrador Hydro and Hydro-Québec, setting out the basis for new long-term agreements: new pricing for the plant's existing output, with forecast payments by Hydro-Québec to Churchill Falls (Labrador) Corporation worth $33.8 billion (net present value); 1,990 MW for Newfoundland and Labrador and at least 7,200 MW for Hydro-Québec; a new Gull Island station of about 2,250 MW, owned 60/40 by NL Hydro and Hydro-Québec; and, in the new Churchill Falls contracts, a 2% annual escalation that applies only to the added volumes from upgrading the plant. Under section 5.3(a) the MOU ends at the earliest of the signing of definitive agreements, mutual termination, or 30 April 2026 unless extended in writing. On 17 August 2026 the Newfoundland and Labrador government announced new agreements that replace it.

Stages

Passing a law is not the same as switching it on, and switching it on is not the same as using it. Each stage is dated where known.

1. Announced 12 December 2024
   Hydro-Québec and NL Hydro sign a largely non-binding memorandum of understanding on Churchill Falls and Gull Island
2. Expired 30 April 2026
   Churchill Falls IRC delivers its report; the 2024 MOU expires the same day

Events

• 19 May 2026NL releases the IRC report: the MOU 'is not in the overall best long-term interest' of the provinceDocumentOtherNewfoundland and Labrador3 sources
• 30 April 2026Churchill Falls IRC delivers its report; the 2024 MOU expires the same dayDocumentOtherNewfoundland and Labrador2 sources
• 12 December 2024Hydro-Québec and NL Hydro sign a largely non-binding memorandum of understanding on Churchill Falls and Gull IslandDocumentAgreementNewfoundland and Labrador3 sources