Energy talks ‘full steam ahead' despite Hydro‑Québec chief's new gig: N.L. Hydro
The upcoming departure of the CEO of Quebec's hydro utility won't interfere in final negotiations on a new energy deal with Newfoundland and Labrador.
That's according to Jennifer Williams, chief executive of Newfoundland and Labrador Hydro.
Williams says the major agreement between the two utilities is moving 'full steam ahead' despite Michael Sabia's plans to leave Hydro‑Québec in July and become clerk of the Privy Council in Ottawa.
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Sabia and Williams led teams who negotiated an end to a 1969 contract that allowed Hydro‑Québec to buy the bulk of the power from the Churchill Falls generating station in Labrador for rock-bottom prices.
Under a new draft agreement Hydro‑Québec will pay far more for power and develop new projects on the Churchill River alongside Newfoundland and Labrador Hydro.
Hydro-Québec says Sabia established a 'genuine partnership' with Newfoundland and Labrador, and its 'seasoned executive team' will continue to carry out the utility's plans.
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