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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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Luxury Superyacht Sinks Off Italy Coast: Search Resumes for Missing Passengers

 

Rescue teams and divers are intensifying their efforts to locate six missing passengers after a luxury superyacht sank during a violent storm off the coast of Sicily. The yacht, named the Bayesian, was carrying 22 people when it capsized. Here’s what we know:

  • The Missing:
    • Mike Lynch: A British tech magnate, often referred to as “Britain’s Bill Gates.”
    • Jonathan Bloomer: Chairman of Morgan Stanley International.
    • Chris Morvillo: A lawyer from Clifford Chance.
    • Others: The missing also include Lynch’s daughter and the wives of Bloomer and Morvillo.
  • Rescue Challenges:
    • The yacht lies approximately 164 feet underwater, complicating the search.
    • Divers are working in 12-minute shifts due to the depth.
    • Obstructions inside the wreck hinder navigation.
  • Survivors:
    • Fifteen people were rescued by nearby boats and brought ashore.
    • Lynch’s wife and 14 others survived.
    • Tragically, one person lost their life.

The incident has sent shockwaves through the maritime community, leaving many hoping for a successful rescue operation. Our thoughts are with the families of the missing passengers during this difficult time.


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