It looks like theres been a million-dollar blow to the provinces - TopicsExpress

It looks like theres been a million-dollar blow to the provinces efforts to redefine the ever-controversial Upper Churchill contract. CF(L)Cos bid to redraw the 1969 power price agreement with Hydro-Quebec has been rejected by the Quebec Superior Court. In a 250-page ruling, the court says CF(L)Co did not offer a convincing argument to change the deal that it says could have cost Hydro-Quebec and its customers billions of dollars over the remainder of the deal, which expires in 2041. The court has ordered CF(L)Co to pay $1.3 million in court costs. Nalcor CEO Ed Martin is speaking with reporters this morning.

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