Tuesday, December 17, 2013

SaskPower and Manitoba Hydro sign $100 million hydro deal

SaskPower and Manitoba Hydro have signed a deal that will see Manitoba Hydro sell $100 million worth of electricity to Saskatchewan over the next eight years. The deal is just the start of a larger, longer-standing deal between Manitoba Hydro and SaskPower planned in the next several years.

Officials said the eight-year sale will be followed by a 500 megawatt purchase to be completed after 2020. The deal is the single-largest power sale agreement between Manitoba and Saskatchewan.

The two energy giants have signed a memorandum of understanding which is in line with Manitoba Hydro’s expansion goals, according to Manitoba Hydro CEO Scott Thomson. The two provinces already have an existing power deal, but this new sale is in addition to the one already in place. Thomson said in a release Manitoba Hydro also plans to go ahead with a proposed number of dam and transmission line projects.

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