Hydro enters temporary power agreement with Corner Brook Pulp and Paper

Newfoundland and Labrador Hydro has agreed to a short-term power purchase agreement with Corner Brook Pulp and Paper Limited to buy clean hydroelectricity.

Under the agreement, Newfoundland and Labrador Hydro will buy up to 140,000 megawatt hours of power at $187 per megawatt hour. It starts after the current agreement ends next month and runs until June 30, 2026.

The current agreement, in place since 2024, costs $275 per megawatt hour. NL Hydro can use Corner Brook Pulp and Paper’s power supply when needed.

This will not increase electricity rates for customers.