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July 21, 2022
The Honourable Andrew Parsons, Minister of Industry, Energy and Technology, today announced that Jennifer Williams has been appointed as Team Lead for the Churchill River Energy Analysis Team following the resignation of Brendan Paddick.
The Team has been given the mandate of undertaking a detailed analysis of the hydro-electric opportunities that exist on the Churchill River. This includes detailed forecasting of electricity prices, potential capital costs, energy trends, and other relevant factors that could affect the potential value that could be achieved from the Churchill River.
The work of the analysis team will help strengthen Newfoundland and Labrador’s negotiating position in advance of 2041, and support the work of the Expert Panel on 2041.
The Team will be supported by officials from the Government of Newfoundland and Labrador with experience in finance, legal, electricity and intergovernmental relations; Newfoundland and Labrador Hydro officials with knowledge about the opportunities on the Churchill River; and other government officials or NL Hydro resources as requested by the Team Lead.
The Terms of Reference for the Churchill River Energy Analysis Team can be found in the backgrounder below.
“Continuing with the work of the rate mitigation team, the analysis team will interact with the Expert Panel on 2041 and work towards the mutual goal of preparing Newfoundland and Labrador for 2041 and beyond. I am pleased that Jennifer Williams has agreed to take on this important role and have every confidence in her leadership. I also thank Brendan Paddick for bringing his experience and insight to this committee, as well as the impressive contributions he made to the people of our province through his leadership on the rate mitigation team, securing a $5.2 billion deal to keep power rates affordable.”
Honourable Andrew Parsons
Minister of Industry, Energy and Technology
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Industry, Energy and Technology
Terms of Reference
Churchill River Energy Analysis Team
An Energy Analysis Team will be created to undertake the required analysis. The Team Lead will be supported by a team of: (i) seconded officials from within the Government of Newfoundland and Labrador, with experience in finance, legal advice, electricity, and intergovernmental relations, (ii) seconded resources from Newfoundland and Labrador Hydro knowledgeable about the opportunities on the Churchill River and (iii) such other government officials or NL Hydro resources as the Team Lead reasonably requests as necessary to fulfil the Mandate and Objectives. The team will also include external legal, financial, and forecasting experts to be determined by the Team Lead.
Progress on the analysis will be reported to a committee that includes the Clerk of the Executive Council, the Deputy Minister of Finance, the Deputy Minister of Industry, Energy and Technology, and the Deputy Minister of Intergovernmental Affairs.
The Team Lead will serve without receiving compensation, except for out-of-pocket expenses. It is anticipated that very limited travel may be required. In those cases, funding will be provided. Preference is given to virtual meetings wherever possible. Officials seconded to the Negotiating Team from the Government of Newfoundland and Labrador and NL Hydro will receive remuneration as per their existing employment terms from their current employer. Resources will be made available to the Energy Analysis Team to ensure that external financial, legal, forecasting, or engineering advice can be provided in a timely manner to support the valuation analysis.
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