11 July 2010

HQ and NALCOR on same side in US transmission line play

Both Hydro-Quebec and NALCOR Energy support development of  a $2.0 billion power line into New York city.

Newfoundland and Labrador's state energy company, Nalcor, is also behind the project. The line would run from Canada under Lake Champlain, into the eastern U.S.

For Nalcor, the lines would allow it to export electricity to the U.S. from a proposed dam to be built at Lower Churchill Falls.

"Anything that increases competition and market access we see favourably," said Ariane Connor, a Hydro-Quebec spokesperson.

NALCOR signed a non-binding memorandum of understanding on the project earlier this year.

- srbp -