The Official Opposition is calling on Premier Tony Wakeham and his Conservative government to immediately return to the negotiating table with Hydro-Québec following the expiration of the Memorandum of Understanding (MOU) on Churchill Falls on April 30th, 2026.
As of today, the MOU has officially expired, marking a critical moment for Newfoundland and Labrador. Under the existing agreement, Newfoundland and Labrador should have received a payment today in the range of $1.4 billion, not to mention the $225 billion over the lifetime of the deal, erasing our provincial deficit and leaving the government with a surplus. This is something the Conservatives could have used in their budget to deliver meaningful relief and fulfill their costly election promises. Instead, we received a status quo budget dressed up as action.
This milestone underscores both the value of the resource and the urgency of securing a fair, long-term deal. Instead, we remain stuck in 1969. Premier Wakeham is now in possession of the report from his biased review panel, led by an architect of the Muskrat Falls boondoggle, so he has run out of excuses to delay ending the unfair 1969 deal and seizing the opportunity for a new agreement that benefits Newfoundlanders and Labradorians.
For decades, the people of Newfoundland and Labrador have waited for a better deal on the Churchill River. With the MOU now expired, the path forward must be clear: get back to negotiations and deliver a deal that reflects the true value of our energy.
“This is a generational opportunity,” says Opposition Leader John Hogan. “We cannot afford more delay and uncertainty, or a lack of leadership. Newfoundlanders and Labradorians deserve a government that is prepared to stand up for them and secure a fair agreement with Quebec, and not just simply remain silent and let others make a decision for the Premier.”
The Official Opposition is urging Premier Wakeham to show leadership and ensure that Newfoundland and Labrador does not miss this rare window to reshape the future of our most valuable natural resource.
Failure to act now risks leaving billions on the table that could improve affordability, pave roads, build schools and hospitals, and recruit and retain the professionals who work in these facilities.
Premier Wakeham has missed an opportunity “for all of us”.
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