Newfoundland and Labrador Hydro

Newfoundland and Labrador Hydro (NL Hydro), commonly known as Hydro, is a provincial Crown corporation that generates and delivers electricity for Newfoundland and Labrador, as well as portions of Quebec and the north-eastern areas of the United States. Between 2007 and 2021, NL Hydro was a subsidiary of the provincial Crown-owned energy holding company Nalcor Energy. Newfoundland and Labrador Hydro's installed generating capacity, 8034megawatts (MW), is the fourth largest of all utility companies in Canada. Generating assets consist of 16 hydroelectric plants, including the Churchill Falls hydroelectric plant, which is the second largest underground power station in the world, with a rated capacity of 5,428 MW of power, one oil-fired plant, four gas turbines and 26 diesel plants. Every year, Hydro generates and transmits over 80% of the electrical energy consumed by Newfoundlanders and Labradorians – over 6,487 GWh of energy in 2004. Hydro also distributes power directly to 35,000 customers in rural Newfoundland and Labrador. In 1975, the Newfoundland and Labrador Power Commission, a crown corporation originally established to assist in rural electrification, was renamed Newfoundland and Labrador Hydro Corporation. Newfoundland and Labrador Hydro is the parent company of the Hydro Group of Companies, which comprises Churchill Falls (Labrador) Corporation Limited (CFLCo) Lower Churchill Development Corporation Limited (LCDC) Gull Island Power Company Limited (GIPCo) Twin Falls Power Corporation Limited (TwinCo) The Nova Scotia government commissioned (from SNC-Lavalin) a study in 2009 to consider an Atlantic wide regional electricity market operator. A $6.2 billion deal between Newfoundland and Labrador's Nalcor Energy and Halifax, Nova Scotia-based Emera to develop the Lower Churchill Project was announced in November 2010. On November 30, 2012, a federal loan guarantee deal for financing of the project was signed by Prime Minister Stephen Harper, Newfoundland and Labrador Premier Kathy Dunderdale and Nova Scotia Premier Darrell Dexter.