NL Hydro has extended its power purchase agreement with Corner Brook Public and Paper for another year.
NL Hydro entered into the power agreement with Corner Brook Pulp and Paper late last year, agreeing to buy 140,000 megawatt hours of power from the company at a reduced rate of $187 per hour.
The agreement, which was scheduled to come to an end in June, has been extended to June 30th, 2027. NL Hydro will buy up to 280,00 megawatt hours of power at $187 per megawatt hour.
The extension will allow the provincial government to review and consider Kruger’s proposed $700 million revitalization plan for Corner Brook Pulp and Paper.
