AIEQ welcomes agreement in principle on hydroelectric production in Labrador
Montreal, December 12, 2024 - The Association de l'industrie électrique du Québec (AIEQ) applauds Hydro-Québec's announcement today of an agreement in principle for hydroelectric generation in Labrador. The agreement renews access to Churchill Falls generation while adding new generating capacity.
This agreement, which guarantees Quebec access to a minimum of 7,200 MW for the next 50 years - and at a lower price than any other renewable option in North America - represents a major step forward for Quebec's energy transition and prosperity.
With an average cost of 6 cents/kWh, this agreement ensures that Quebec has reliable and affordable renewable energy, while maintaining competitive rates for households and businesses. The addition of 9,190 MW of total generating capacity, including 7,200 MW for Quebec, consolidates Quebec's position as a world leader in the energy transition.