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Churchill Falls: A 15% Power Bill Rebate, $10 Billion From Ottawa — What It Means for Your Wallet

  Thursday, August 20, 2026 Last Monday, Prime Minister Mark Carney stood on a pier in St. John's alongside Newfoundland and Labrador Premier Tony Wakeham and Quebec Premier Christine Fréchette to announce what Ottawa is calling the largest clean energy investment in North American history. Buried in the headline numbers — $273 billion in nominal contract value, $10 billion in federal financing, 14,000 megawatts of new hydro capacity — is a much simpler story for ordinary Canadians: who pays what for electricity, for the next 50 years. Here's what actually changed, and what it means for your bills whether you live in St. John's, Montreal, or Ajax, Ontario. The deal it's replacing was historically lopsided To understand why this is a big deal, you need the old one. Under the original 1969 Churchill Falls contract, Quebec locked in the right to buy the vast majority of the plant's power from Newfoundland and Labrador at roughly 0.2 cents per kilowatt-hour — a price th...
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Wall Street Nears 5,000 Milestone

 

U.S. stocks continued their upward trajectory, setting more records as evidence mounted of a remarkably solid job market. Here’s a snapshot of today’s market activity:

  • The S&P 500 inched up by 2.85 points, reaching 4,997.91.
  • The Dow Jones Industrial Average also achieved an all-time high, edging up by 48.97 points to 38,726.33.
  • The Nasdaq composite gained 37.07 points, closing at 15,793.71.

During the day, the S&P 500 even briefly surpassed the 5,000 level for the first time. While such milestones may seem arbitrary in a market driven by math and financial data, they can offer a psychological boost. Remember, not long ago, experts were predicting a near-certain bear market and recession. Yet, the U.S. economy has defied expectations, and the latest report indicates fewer workers applied for unemployment benefits last week than anticipated.

Investors are increasingly recognizing that positive economic news translates to higher corporate profits, which ultimately benefit stocks. Earnings reports from major U.S. companies have been mixed, with some notable winners:

  • The Walt Disney Co. reported stronger-than-expected profits, benefiting from cost cuts and growth at its theme parks.
  • Ralph Lauren saw robust holiday sales worldwide, particularly in Asia.
  • Arm Holdings, a U.K.-based semiconductor company, exceeded analysts’ expectations.
  • However, PayPal fell short of profit forecasts for 2024, and S&P Global reported weaker profits for the latest quarter.

As Wall Street approaches the 5,000 milestone, it serves as a reminder of how far we’ve come. Amid the market’s emotional swings, staying grounded in data and fundamentals remains crucial. 

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