Newfoundland and Labrador energy news: the Churchill Falls Deal just changed hands at the top, and the timing says everything about where the file stands: the negotiating is largely done, and the hard work of making it real has begun.
By Maplestime Energy Desk | St. John’s, Newfoundland and Labrador | October 29, 2026
Sources: Government of Newfoundland and Labrador, October 28, 2026 News Release | Last updated: October 29, 2026
Key Takeaways
- Premier Tony Wakeham announced on October 28, 2026 that Gary Smith will take over as lead negotiator on the Churchill Falls Deal.
- Outgoing lead negotiator Barry Perry moves to Special Advisor to the Provincial Government.
- Smith brings more than four decades in the electricity sector, including past roles as Fortis Inc. Executive Vice-President of Operations and Technology and as President and CEO of Newfoundland Power.
- The change marks the shift from negotiating the agreement to completing the technical and legal work to implement it.
- Once finished, the definitive agreements will be tabled in the House of Assembly, with technical briefings for Members and a proposed special debate.
- The agreement is valued at an estimated $273 billion in total nominal value over its lifetime.
What Changed on the Churchill Falls Deal Team
Premier Tony Wakeham announced the change on October 28, 2026, with a media availability that day at 1:30 PM in St. John’s and a release timed at 1:45 PM. Barry Perry, who led the negotiations, transitions to Special Advisor to the Provincial Government. Wakeham credited Perry’s “exceptional leadership” as “instrumental in securing a historic agreement.”
Gary Smith steps into the lead negotiator role. His resume is deep in the exact world this deal lives in: former Executive Vice-President of Operations and Technology at Fortis Inc. and former President and CEO of Newfoundland Power, with more than four decades of experience covering utility operations, infrastructure development and energy management.
This is not a reset. It is a handoff, and the province is framing it that way on purpose. The team that struck the deal is giving way to the team that has to finish it.
From Negotiation to Implementation
The change reflects where the Churchill Falls Deal now sits. The commitments were reached with Quebec and the Government of Canada in August 2026. What remains is the technical and legal work needed to implement them, and that work is detailed, slow, and unforgiving of mistakes.
That is the job Smith inherits: turning a political agreement into definitive agreements that can survive scrutiny in the House of Assembly and in the decades of operation that follow. The province says that once the definitive agreements are completed, they will be tabled in the House of Assembly, technical briefings will be given to Members, and government will propose a special debate.
What the Churchill Falls Deal Is Worth
The stakes explain why the province is being careful with the finish. The agreement is expected to deliver 760 megawatts more power than the previous memorandum of understanding. It secures 985 megawatts of guaranteed transmission portfolio and market-pricing access to markets beyond Quebec.
Over its lifetime, the deal carries an estimated $273 billion in total nominal value. Energy and Mines Minister Lloyd Parrott put it bluntly: “We have secured an agreement that fundamentally changes the future of Churchill Falls and Gull Island for the benefit of Newfoundlanders and Labradorians.”
Related: More Newfoundland and Labrador energy and politics news from Maplestime
Oversight and Labrador Engagement Continue
Two other pieces of the announcement deserve attention. The three members of the Oversight Committee confirmed they will continue in their roles, and government is reviewing Public Utilities Board chair recommendations on additional membership. Continuity there matters, because the oversight body is the public’s window into a file this large.
Engagement with Innu leadership and Labrador communities will also continue. That commitment is easy to state and hard to honour, and it will be one of the measures by which this final phase is judged. A deal about Labrador’s power cannot be finished without Labrador’s people at the table.
Maplestime will provide updates from the Churchill Falls Deal as announcements are made.
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Is Gary Smith the right person to finish a $273 billion deal, or should the team that negotiated it stay until the ink is dry? Tell us in the comments. And share this with every Newfoundlander and Labradorian watching what Churchill Falls is finally worth.
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