The independent panel overseeing the Churchill Falls MOU has released its first quarterly report.

Energy Minister Andrew Parsons tabled the report in the House of Assembly yesterday.

It does not provide any detailed analysis of the MOU, instead it outlines the purpose and mandate of the panel, and some “initial observations” on what is needed to successfully reach the definitive agreements.

Parsons says that is “pretty standard” for a first report.

He says it lays out what is needed for a “solid negotiation.” Parsons believes laying out the details of the committee is “reassuring” to a lot of people as the need for independent oversight was the big takeaway from the debate earlier this year.