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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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Universities Brace for Impact as International Student Cap Takes Effect

 

Canadian colleges and universities are grappling with significant financial challenges following the federal government's decision to cap international student permits. The 35% reduction in study permits, which brought the number down to an estimated 360,000 for 2024, has led to widespread layoffs, hiring freezes, and reductions in services across the post-secondary education sector.

The Council of Ontario Universities, which includes 20 of the province's top institutions, anticipates a combined loss of $330 million this fiscal year and $600 million in the upcoming fiscal year. "We're seeing across-the-board cuts in programming and services, layoffs, hiring freezes, deferred capital investments," said Steve Orsini, president of the council.

In British Columbia, students are experiencing reductions in library hours and services, as well as limited access to academic advisers. "The work that we do is going to continue in terms of advocating for more funding, especially now more than ever," said Jessie Niikoi, chair of the British Columbia Federation of Students.

The cap on international students has also led to the cancellation or delay of several student residence projects. "It's had a profound negative effect on the sector at a time when Ontario universities are facing significant financial challenges," Orsini added.

Immigration Minister Marc Miller defended the cap, stating that the international student system was set up to attract talent to fill key roles in the labor market but had become "overheated." However, he emphasized that addressing the funding challenges facing universities is not the federal government's responsibility.

Despite the financial strain, both the B.C. and Ontario governments have increased funding for post-secondary institutions to help mitigate the impact of the cap.

The loss of tuition revenue from international students, who typically pay significantly higher fees than domestic students, is being compounded by tuition freezes and insufficient operating grants. "Universities really are facing a perfect storm," Orsini said.

As institutions continue to navigate these financial challenges, the focus remains on advocating for more funding and finding ways to sustain quality education and services for all students.




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