Finance

NL Hydro Stays the Course: MOU Moves Forward Despite Leadership Shake-Up!

2025-06-12

Author: Michael

In a bold move amidst leadership changes, NL Hydro's CEO, Jennifer Williams, is assuring stakeholders that it’s business as usual in the push to finalize the crucial Memorandum of Understanding (MOU) with Quebec.

This reassurance follows the surprising resignation of Michael Sabia, the former CEO of Hydro-Québec, who is set to take on a prominent role as Canada’s top bureaucrat as the Clerk of the Privy Council and Secretary to Cabinet starting July 7.

Last week, Sabia was in St. John's for the Energy NL Conference, leaving many to speculate about the future ties between the two power utilities. But Williams, who collaborated closely with him during the complex Churchill Falls MOU negotiations, remains optimistic.

She expressed gratitude for Sabia’s progressive vision, stating he recognized that any new agreements must diverge from the contentious 1969 deal that many still critique.

Williams is committed to moving forward, indicating that engineering and geotechnical studies are already on the agenda for this summer. "Now is not the time to pause; we are forging ahead!" she declared, signaling a strong commitment to the partnership despite recent developments.