David Vardy

The DCIA must be reversed. If not, generations to come will revile the current generation and its negotiating team for stealing their legacy. They will curse the ground on which we walk.

MOU 2 places in jeopardy our ability to make the choices that best serve the benefit our people and make them the “principal beneficiary” of our resources. We must do better than MOU 2, which is an abysmal failure on all counts and the betrayal of the hopes of generations yet unborn. Our fervent prayer must be: “God Guard Thee, Newfoundland and Labrador”; we cannot count on our government to guard us.

Quebec maintains the highly advantageous position it obtained in the 2024 MOU. The chief enhancement is related to proposed investments and financing guarantees for Gull Island by the Federal government, should it be built.

The MOU assigns a value of 2.5 cents/kWh to the power in today’s dollars, but our share is only 1.6 cents/kWh, or 10% of the market value, which is virtually the same share we have received from the Upper Churchill, since first power in 1971.

I submitted the following questions in writing to Jennifer Williams on October 8, 2025 and copied them to Paddy Daley of VOCM Open Line, on which Jennifer was interviewed yesterday, as well as to other news media. In my questions I take some issue with the responses she gave on Open Line. I invite you to support my request for greater transparency

What we have is a set of forecasts, without the underlying assumptions and without any clarity as to how future revenues will be adjusted to reflect changes in energy markets, leaving us no better off than we were on May 12, 1969.

History will define us as a people by how we manage the issues at stake in the MOU.

If a Big Mac costs McDonalds $10 to produce and it is sold for $1.50, McDonalds will go out of business. They would not declare a profit!