The 1969 agreement with Newfoundland and Labrador allows Hydro-Québec to purchase the majority of the electricity generated at the station in central Labrador—and therefore reap most of the profits.
Legault has made the deal’s renewal a key piece of his energy strategy as the province tries to lower emissions and meet its growing electricity needs.
The Newfoundland and Labrador government established a panel last year to prepare for the negotiations and examine how the province could benefit when the current agreement ends in 2041.
The panel says in a news release that its recommendations to the provincial government include negotiating a new arrangement for sales to Hydro-Québec.
Furey says his team will ensure Newfoundlanders and Labradorians get the best possible value from the province’s energy assets.