Government Introduces Atlantic Accord Mirror Legislation

The Provincial Government has moved forward with mirror legislation to the Government of Canada’s Canada-Newfoundland and Labrador Atlantic Accord Implementation Act to allow for future offshore wind development.

The proposed legislative amendments will ensure the necessary measures are in place to support offshore renewable energy opportunities, allow for a fiscal regime that provides the maximum economic returns to Newfoundland and Labrador, rename the C-NLOPB as the Canada-Newfoundland and Labrador Offshore Energy Board and expand its mandate to become the lead regulatory body for offshore energy in the offshore area.

There are also amendments to define the offshore area for offshore renewable energy that excludes areas within provincial jurisdiction, to ensure that the Provincial Government can move forward to regulate developments within provincial jurisdictional waters and modernize provisions relating to the regulation of our offshore oil industry.