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Newfoundland and Labrador Hydro, Emera Inc. and Nova Scotia Power Inc. sign MOU to explore options for lower Churchill power
HALIFAX, Jan. 14 /CNW/ - (EMA-TSX): Newfoundland and Labrador Hydro (Hydro), Emera Inc. and Nova ...
About this update from Emera Incorporated
[{"type":"text","content":"\n\n\n\nHALIFAX, Jan. 14 /CNW/ - (EMA-TSX): Newfoundland and Labrador Hydro\n(Hydro), Emera Inc. and Nova Scotia Power Inc. (NSPI) announced today the\nsigning of a Memorandum of Understanding (MOU) to explore the possibility of\nbringing energy from the Lower Churchill Project to the Maritimes and\nNew England markets.\n\n\nAs a result of this agreement, Hydro, Emera and NSPI will work\ncollaboratively to study in detail the technical, economic, financial and\nregulatory aspects related to exporting lower Churchill power to these\nmarkets. At the conclusion of this preliminary assessment, the parties will\ndecide if there is merit in advancing potential joint initiatives.\n\n\n"This is a potential opportunity for Emera and for energy customers in\nboth the Maritimes and New England," said Chris Huskilson, President and CEO\nof Emera Inc. "We are hopeful that the outcome of these studies will result in\nsustainable energy flow to the Maritimes and New England markets."\n\n\nA portfolio of market destinations and market access options for power\nfrom the lower Churchill remain under consideration and this MOU complements\nHydro's initiatives currently underway in other jurisdictions.\n\n\n"This MOU complements our initiatives currently underway in other\njurisdictions and is another step in ensuring we have the right portfolio of\nmarkets for the Lower Churchill Project that will generate the best deal for\nthe province," said Ed Martin, President and CEO, Newfoundland and Labrador\nHydro and the province's energy corporation. "We are looking forward to\nworking with both Emera and Nova Scotia Power in an effort to identify\nmutually beneficial opportunities for this renewable, predictably priced,\nclean energy."\n\n\nA portfolio of market destinations and market access options for power\nfrom the Lower Churchill Project remain under consideration. Potential routing\noptions being explored by Hydro include the Maritimes submarine route and\ntransmission through Hydro-Quebec's transmission system. All options are still\nunder investigation.\n\n\n"Fully assessing this opportunity is another element of Nova Scotia\nPower's strategy to provide our customers more electricity from renewable\nsources, as well as an important example of co-operation among the Atlantic\nProvinces," said Ra...