**Title: Newfoundland's New Premier Challenges Quebec Energy Agreement**

Tony Wakeham, the newly elected Premier of Newfoundland and Labrador, is poised to review a significant electricity supply agreement with Quebec. His Progressive Conservative party won a surprising victory in the recent general election, securing 21 out of 40 seats in the provincial legislature. This election marks a shift in power from the traditionally dominant Liberal party, which won 15 seats.

Wakeham's campaign focused on the need for change and included a promise to reassess the $34 billion energy deal with Quebec. He argued that the current agreement does not provide the best value for the province's residents. In his victory speech, he stated, "We will launch an independent review and use it to fix this deal or demand a better one." He also indicated that any new agreement would be subject to a referendum.

The existing contract, which has been in place since 1969, allows Quebec to purchase electricity from Newfoundland's Churchill Falls generating station at a rate of just 0.2 cents per kilowatt hour. This contract, which is not indexed to inflation and is set to expire in 2041, has long been a source of contention. Many Newfoundlanders view it as unfair, and the Supreme Court of Canada upheld its terms in 2018.

Under the proposed new agreement, Quebec would pay an average of 6 Canadian cents per kilowatt hour, significantly increasing Newfoundland's annual revenue by an estimated $1 billion by 2041. The deal also includes plans to enhance the generating capacity of Churchill Falls and construct a new run-of-river generating station at Gull Island. The total cost of these projects and associated transmission lines is projected to exceed $25 billion, creating one of North America's largest hydroelectric complexes.

Quebec Premier Francois Legault expressed his commitment to the agreement, stating, "I am convinced that the agreement in principle on Labrador energy development is beneficial to both Newfoundland and Labrador and Quebec." He congratulated Wakeham on his election and emphasized the importance of collaboration between the two provinces.

As Wakeham prepares to take office, he faces the challenge of navigating the complexities of this energy deal while addressing the concerns of his constituents. The outcome of the independent review and potential changes to the agreement could have significant implications for both provinces in the years to come. Wakeham has acknowledged the need for substantial change, stating, "An election delivers a mandate, but it does not by itself deliver change. Change is up to all of us."