Newspaper article The Canadian Press

Atlantic Audio 2:25 PM AT

Newspaper article The Canadian Press

Atlantic Audio 2:25 PM AT

Article excerpt

Atlantic Audio 2:25 PM AT

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AT01 - (SCOC-Churchill-Falls)

MONTREAL x-12s. The Supreme Court of Canada will be asked to reopen a 1969 hydro deal that has so far generated 28 billion dollars for Hydro-Quebec, versus about 2 billion dollars for Newfoundland and Labrador. Lawyer Doug Mitchell will argue Tuesday for the province that the Churchill Falls hydro contract should be renegotiated. He says the legal issue is whether partners in long-term deals are obligated to ensure fairness when circumstances change.

("...the world.") (SOURCE:The Canadian Press)

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TAG: Hydro-Quebec says it financed Churchill Falls in exchange for a set price for that electricity. Mitchell says negotiators 50 years ago could not have foreseen how changing energy markets would increase the value of that power. …

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