There is no impact on the ratepayer as a result of the agreement.
Government has extended an agreement between Newfoundland and Labrador Hydro (Hydro) and Corner Brook Pulp and Paper Limited. The extended agreement came into effect on October 1st for a period of six months. It includes Hydro purchasing excess green energy from Corner Brook Pulp and Paper’s Deer Lake Power assets. In turn, Corner Brook Pulp and Paper will continue its efforts to identify new revenue sources from viable wood-based projects. It gives more for Hydro to draw upon when needed, particularly during winter months. There is no impact on the ratepayer as a result of the agreement. Forestry Minister Gerry Byrne says “Extending this agreement is another step towards securing the future of our forest industry and ensuring the sustainability of this vital industry.”
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