NL Hydro Extends Power Deal with Corner Brook Pulp and Paper for One Year

Newfoundland and Labrador Hydro has extended its interim power purchase agreement with Corner Brook Pulp and Paper Limited for another year, ensuring continued access to electricity generated by the mill while the provincial government reviews the company's long-term diversification plans.

The new agreement took effect on July 1, 2026, and will remain in place until June 30, 2027.

Under the deal, Newfoundland and Labrador Hydro will purchase up to 280,000 megawatt hours of electricity from Corner Brook Pulp and Paper at a rate of $187 per megawatt hour. Hydro will be able to draw on the mill's power supply when required to support the provincial electricity system.

The provincial government said the agreement provides time to assess a diversification proposal put forward by the mill's owner, Kruger Inc., for the future of the Corner Brook operation.

The agreement will not result in higher electricity rates for customers.