Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 147
Introduction
Last week’s part 1 of this mini-series dealt mainly with the court case and subsequent renegotiation of the Churchill Falls Hydro project in the Canadian province of Newfoundland and Labrador. In that case, the Canadian Supreme Court rejected an application for an increase in the fixed charge for electricity supplied to Quebec Hydro in exchange for the provision of loan guarantees and the undertaking to purchase all the power produced from a hydro project. For continuity, I repeat two passages from the judgment that support a case for renegotiation of the Exxon 2016 PSA.
