Minister Parsons Provides Update on Nalcor Compensation

Minister of Industry, Energy and Technology Andrew Parsons provided an update regarding compensation for non-bargaining employees at Nalcor Energy and its subsidiaries.

The Provincial Government has directed the Nalcor and Newfoundland and Labrador Hydro Board of Directors to eliminate all performance-based pay policies and incentive programs for non-bargaining employees, starting in 2021; and not take any actions with respect to increases in compensation or remuneration for non-bargaining employees, until further advised by the Provincial Government.

Nalcor has also been directed to find savings to reduce the operating budget of Nalcor and its subsidiaries equivalent to the amount of the performance-based payments owing for the 2020 calendar year for non-bargaining employees.