Independent Churchill Falls Negotiation Oversight Panel: Initial Quarterly Report – March 2025

1. Background

1. Purpose of Presentation

1. Independent Oversight Panel (IOP)

1. Initial Observations

1. Moving Forward

1. Biographies

⦁ Background

MEMORANDUM OF UNDERSTANDING (MOU) for a New Long-Term Energy Purchase and Development Initiative between Newfoundland and Labrador Hydro (NLH) and Hydro-Québec (HQ) signed December 12, 2024.

MOU relates to two primary undertakings:

⦁ Existing Churchill Falls Plant and new power purchase agreement (PPA); and

⦁ Churchill Falls Plant upgrade, Churchill Falls Expansion, Gull Island and related PPAs.

Extraordinary debate on the MOU held in NL House of Assembly from January 6 – 9, 2025.

MOU requires that terms of agreements be enshrined in Definitive Agreements by the target date of April 30, 2026 which can be extended by mutual agreement.

On January 27, 2025 NL Government announced NL Negotiating Team including:

⦁ Karl Smith, Chair of the Churchill River Management Expert Panel;

⦁ Jennifer Williams, President and CEO of NLH; and

⦁ Denis Mahoney, former Deputy Minister of Justice and Public Safety.

Contemplated Joint Committees

The MOU contemplates the following three (3) Joint Committees as between NLH and HQ:

⦁ Steering Committee – Comprised of four members (two from each of NLH and HQ). Responsible for overseeing, directing and coordinating all project workstreams and making sure timelines and schedules are established and followed.

⦁ Committee for Indigenous Community Engagement – Responsible for coordinating Indigenous engagement and consultation. Reports to Steering Committee.

⦁ Technical and Regulatory Committee – Responsible for overseeing technical matters associated with the development, execution and/or construction as well as the operation of the Development Projects. Reports to Steering Committee.

⦁ Purpose of this Presentation

The terms of reference require the Independent Oversight Panel to report quarterly to Cabinet and, consistent with confidentiality requirements, the public.

This presentation represents the Independent Oversight Panel’s initial quarterly report.

3.0 Independent Oversight Panel (IOP)

3.1 Overview

3.2 IOP Mandate, Objective, Responsibility

3.3 IOP Guiding Principles

3.4 IOP Status

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