It was one of the sweetest energy deals ever cut. Also one of the most foolhardy. But the country’s top court has ruled the Churchill Falls-Quebec hydro contract is ironclad and cannot be undone.
For the third time Friday, the Supreme Court of Canada upheld a controversial 1969 contract that sees massive amounts of Churchill Falls hydroelectricity sold at enormous profit to Quebec with relatively little benefit to Newfoundland and Labrador.
The contract has poured more than $27 billion into Quebec coffers in the past 50 years and only $2 billion to Newfoundland and Labrador.
The terms of that contract are now set to govern until 2041.
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