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Stock impact report

Without Churchill Falls deal, Newfoundland faces a dire fiscal future [Globe and Mail, The (Toronto, Canada)]

Equinor ASA (EQNR) 
Last equinor asa earnings: 2/6 12:43 am Check Earnings Report
Under a memorandum of understanding signed in late 2024 by the then-premiers of Newfoundland and Quebec, Hydro-Québec agreed to pay an average of 20 times more for the 5,000 megawatts of electricity it currently buys from Churchill Falls under a 1969 contract, and extend the contract for 50 years. At the time, both premiers called it a win-win deal, one that would allow their long-feuding provinces to bury the hatchet and help cash-strapped Newfoundland alleviate budgetary woes that are projected to balloon as its population ages and offshore oil revenues decline. Konrad Yakabuski: Newfoundlanders can't afford to say no to a hydro deal with Quebec Quebec's then-premier François Legault and his Newfoundland counterpart at the time, Andrew Furey, aimed to translate the MOU into a definitive agreement by this month. The first payments under the deal were scheduled to begin flowing immediately. Instead, politics has once again got in the way of a major Canadian energy infrastruct Show less Read more
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