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John Ivison: Churchill Falls deal will outlast any damage Trump inflicts

The deal guarantees predictable, stable energy for the next 50 years

The most important thing happening in Canada this week is not the threat of 50 per cent tariffs on US$20 billion of this country’s products by President Donald Trump.

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Rather, according to Prime Minister Mark Carney, the most consequential event was Monday’s announcement in St. John’s, N.L., of a multi-billion-dollar clean energy deal with Quebec that will see a tripling of the generating capacity of the Churchill Falls hydro-electric project. The additional power generated by the expansion would be enough power to light, heat and cool Toronto, Montreal and Vancouver combined, Carney said.

John Ivison: Churchill Falls deal will outlast any damage Trump inflicts Back to video

The deal replaces the notorious 1969 Churchill Falls power contract that heavily favoured Hydro-Quebec at the expense of Newfoundland and Labrador. It will see the average rate paid per kilowatt hour rise from 0.2 cents to around 6 cents.

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