Former premier Danny Williams is urging the current government to proceed “with the greatest vigilance and due diligence in any final agreement” with Quebec on hydro development – particularly in light of some alarming statements from Hydro Quebec on the current MOU.

Williams says he’s studied the MOU and wants to ensure that Newfoundland and Labrador get a fair outcome.

What’s troubling, says Williams, is assertions by a Senior Vice President of Hydro Quebec and co-lead negotiator, David Rheaume, who told La Presse that the MOU is “the same dal as 1969 at the end of the day.” A statement that Williams says “should ring alarm bells.”

He also points to comments from Hydro Quebec CEO Michael Sabia indicating that electricity prices in some US states are rising, and “if somebody tells me I can get that quantity of electricity for four cent for the next 50 years, I’m going to grab that.” He also indicated that for every year that passes, Hydro Quebec’s leverage with Newfoundland goes down.

Williams reiterates that there is nothing wrong with doing a fair deal with Quebec on our terms, but he believes Quebec should double its offer from the current four cents per kilowatt hour outlined in the MOU.