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Wednesday, December 14, 2016

December 14, 2016

 

For Immediate Release

 

 

 

Churchill Fall (Labrador) Corporation Restructuring, Minister Leaves People in the Dark

 

 

 

Keith Hutchings, Natural Resources Critic for the Official Opposition, said, “Public concerns were ratcheted up this week on news that the Churchill Falls (Labrador) Corporation – which manages the Upper Churchill and related assets – is being quietly restructured.

 

 

 

“Under questioning in the House of Assembly on Monday and Tuesday, Natural Resources Minister Siobhan Coady left Newfoundlanders and Labradorians in the dark rather than provide clear answers about CF(L)Co’s restructuring. On Monday, she didn’t even seem to know the restructuring was happening. By Tuesday, she seemed to know more, but said little.

 

 

 

“We’re being told the changes may happen as soon as January 2017. What is the extent of the changes? Who is driving the changes, and why? Do these changes have anything to do with talks that we’ve just learned are now happening with Hydro-Québec on hydroelectricity sales and development in Labrador?

 

 

 

“Hydro-Québec is a 34.2% shareholder in CF(L)Co. But Newfoundlanders and Labradorians hold a 65.8% share in the corporation through Newfoundland and Labrador Hydro, which is now a division of Nalcor. People want to know their assets are secure,” said Hutchings.

 

 

 

“When we are getting nothing but denials and deficient information from the Ball Liberals and having to learn from third parties about the province’s talks with Hydro-Québec on Churchill power, people are right to be concerned,” he said.

 

 

 

The Opposition also asked how the vacancies on the CF(L)Co board are to be filled, but again, there were no answers.

 

 

 

-30-

 

 

 

Media Contact:

 

Heather MacLean

 

Director of Operations and Communications

 

Office of the Official Opposition

 

(709) 729 6105, heathermaclean@gov.nl.ca

 

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