St. John’s, NL (January 29, 2025) – Tony Wakeham, Leader of the Progressive Conservative Party and MHA for Stephenville – Port au Port, continues to advocate for a full, transparent, and independent review of the Churchill Falls MOU to determine if it is the best possible proposal for Newfoundlanders and Labradorians and today stated that the oversight panel announced by Government falls short on ensuring any meaningful independent review.

“The MOU oversight panel is reviewing an MOU that has already been signed. So, we must question the value in this panel’s mandate, which includes reporting to the Liberal Cabinet,” said Wakeham. “They do not have the opportunity to determine what other options were available to the province and they will not answer if this is the best MOU possible,” said Wakeham.

Wakeham continued to stress the need to fully adhere to the key recommendations of Judge Leblanc.

“I will continue to advocate for outside, independent experts to conduct an evaluation of the MOU. Anything less than full transparency is unacceptable given the major long-term impact this deal will have on our province,” said Wakeham.

Wakeham also pointed out that as recently as yesterday the chair of the negotiation team misspoke in the media.

“The chair said the province will receive a billion dollars, starting this year. Nowhere in the MOU does it say that.  NL Hydro officials have clearly said that financial benefits will only come after definitive agreements will be signed – due in 2026. Further, the benefit in the year preceding the signing of the agreements is much less than that,” said Wakeham. “It is unfortunate that misinformation continues to be spread to the people of the province when they deserve real answers.”

Wakeham said this is another reason why there needs to be a full, independent analysis of the MOU.

“Why are we in a hurry to sign another 50-year deal with Quebec for lower than market prices and without the benefit of a second and independent opinion?” stressed Wakeham. “A PC Government that I will lead will ensure a thorough independent review is conducted before any final contracts are signed. We must ensure the people of our province get the very best return possible on their resources. We must not repeat the mistakes of the past.”

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