The Canadian province of Newfoundland and Labrador secured a $36 billion energy deal with Hydro-Quebec, finalizing a 50-year electricity supply agreement.

The agreement likely resolves a long-running dispute between the province and the utility over energy pricing and supply terms. Previous negotiations had faced significant challenges, with earlier proposals falling short of provincial expectations.

Under the new deal, Hydro-Quebec will supply electricity to Newfoundland and Labrador for five decades, providing stable energy access and revenue streams for both parties. The agreement represents a major breakthrough in regional energy cooperation.

The deal is expected to strengthen economic ties between Quebec and Newfoundland and Labrador, while ensuring long-term energy security for the province. Both parties expressed satisfaction with the finalized terms.

Newfoundland and Labrador officials highlighted the agreement as a critical step forward for provincial energy infrastructure development.