Newfoundland and Labrador signed a historic MOU on Thursday, to terminate and replace the 1969 Upper Churchill Contract, develop Gull Island and expand the capacity of the Churchill Falls plant. The deal will result in more than $225 billion in total revenue for NL over the life of the agreements.

Officials from both provinces have been trying to negotiate a new deal surrounding the Churchill Falls hydroelectric plant in Labrador. The current agreement, signed in 1969, is widely considered as lopsided in Quebec’s favour.

An agreement has been reached between the governments of Quebec and Newfoundland and Labrador on a new contract for the massive hydroelectric project, two sources say.

Quebec Premier Francois Legault and Newfoundland and Labrador premier Andrew Furey are coming together in St. John's for a potentially historic announcement. It is believed a deal is close on a renewed contract for the Churchill Falls hydroelectric plant.

Quebec Premier Francois Legault and his Newfoundland and Labrador counterpart Andrew Furey are set to sign an agreement Thursday ending a long-running dispute over the Churchill Falls hydroelectric complex. Legault confirmed that he will fly to St. John’s, N.L., later today.

The Canadian province of Newfoundland and Labrador reached a new electricity supply agreement in principle with Quebec, apparently ending a long-time dispute with a deal that will increase hydroelectric power in the country’s eastern region.

Quebec and Newfoundland and Labrador are set to sign an agreement on Thursday to end the dispute between the provinces over the multi-billion-dollar Churchill Falls hydro-electric plant.

The premiers of Quebec and Newfoundland and Labrador are set to announce a resolution today to an energy issue that has driven a wedge between the provinces for decades.