Nalcor Energy is an energy company owned by the people of Newfoundland and Labrador with a small population of about 500,000 and vast potential as an exporter of hydroelectricity and oil and gas. Nalcor currently operates over 7,000 megawatts (MW) of electrical generating capacity that is predominately hydroelectric, including the 5,400 MW facility at Churchill Falls in Labrador.
In 2013, some 1.8 TWh of surplus hydroelectricity was delivered to markets across eastern Canada and the northeastern United States.
Nalcor’s energy marketing portfolio currently includes:
- Churchill Falls Recapture energy that is surplus to Newfoundland and Labrador’s needs;
- Sales to industrial customers in Labrador;
- Long-term transmission service agreements through Quebec; and
- Sales from the Menihek hydroelectric station.
Nalcor is also currently developing one of the few remaining sources of new hydroelectricity generation in North America, the lower Churchill River:
- Phase I Muskrat Falls: Development of Muskrat Falls is now under construction and will be instrumental in meeting growing energy demand in Newfoundland and Labrador and Nova Scotia, with the surplus destined for export energy markets. For more information about Muskrat Falls, visit: http://muskratfalls.nalcorenergy.com/.
Once Muskrat Falls is developed, Nalcor, through agreements with Emera Inc., has secured transmission access to and through the Maritime Provinces. The Maritime Link will connect the island of Newfoundland to Nova Scotia and to the North American transmission grid for the first time and is designed to transmit power to and from the island of Newfoundland. This interconnection to the North American grid will provide access from the island of Newfoundland to markets in Atlantic Canada and New England, allowing Nalcor to export energy not required in Newfoundland and Labrador to other markets throughout Atlantic Canada and New England. Nalcor also has congestion rights into New England. Combined, these assets position the company to manage the province’s multi-year hydroelectric reservoir systems to further increase value from its energy export activities.
Newfoundland and Labrador is blessed with an abundance of renewable and non-renewable energy resources. As Nalcor continues to develop the province’s energy warehouse, the company will have the ability to meet all of the province’s own energy needs and still provide significant energy for export to other jurisdictions where energy demand and the need for clean, renewable energy continues to grow. The undeveloped renewable portfolio includes wind, small and medium scale hydro and large scale hydro such as Gull Island:
- Gull Island: The larger of the two lower Churchill River developments at 2,250 MW, Gull Island represents a large-scale supply of clean energy that is available for export markets and to meet potential new large-scale industrial requirements in Newfoundland and Labrador.