Hydro Quebec Power Purchase Agreement

Increasing transportation capacity between the two systems would not only help reduce greenhouse gas emissions in northeastern North America by replacing fossil fuels with clean hydropower, but also improve the reliability of both systems. Part of the Montérégie region, south of Montreal, was the most affected area and was known by the media and the population as the Triangle of Darkness. Ice accumulation exceeded 100 millimetres in places. [47] Customers on the Island of Montreal and the Ottawa region were also affected by the outage, which raised serious concerns, as many Quebec households use electricity for heating. Under the first agreement, Hydro-Québec will export a total of 47 TWh of electricity to New Brunswick by 2040. These exports are transferred through existing interconnections. Since 2012, New Brunswick has had an electricity collision contract with Quebec on energy imports, which will build on this agreement. Since 1972, there has been an energy exchange between Quebec and New Brunswick. After the 1973 oil crisis, the Newfoundland government, dissatisfied with the terms of the agreement, purchased all of Churchill Falls` shares that were not owned by Hydro-Québec. The Newfoundland government then asked to reopen the contract, a request rejected by Hydro-Québec. After a long dispute between the two neighbouring provinces, the validity of the treaty was confirmed twice by the Supreme Court of Canada in 1984 and 1988. [14] [15] When Hydro-Québec acquired shawinigan Water and Power Company, it acquired a 20% interest in a Hamilton Falls hydroelectric project[Note 1] in Labrador, a project led by a consortium of banks and industrialists, the British Newfoundland Corporation Limited (Brinco). After years of bitter negotiations, the parties agreed on 12 May 1969 on the financing of the construction of power plants.

The agreement required Hydro-Québec to purchase most of the facility`s production for a quarter of a cent per kilowatt-hour for 65 years and to enter into a risk-sharing agreement. Hydro-Québec would cover some of the interest rate risk and purchase a portion of Brinco`s debt in exchange for a 34.2% interest in the company that owns the plant, Churchill Falls (Labrador) Corporation Limited. [12] The 5428-megawatt Churchill Falls plant delivered its first kilowatts on December 6, 1971. [13] The 11 turbines were fully operational until June 1974. Hydro-Québec and the Bourassa government have had a much harder time getting around the next obstacle in northern Quebec.

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