HALIFAX - Nova Scotia Premier Darrell Dexter denied reports Wednesday that an agreement has been reached with his province to develop the Lower Churchill hydroelectric project in Labrador.
Media reports in Newfoundland and Labrador say a deal has been finalized with Emera Inc. (TSX:EMA), the owner of Nova Scotia Power, to develop the project. But Dexter rejected those reports.
"We're trying to get to a place where there can be an agreement of mutual benefit, but we're not there yet," he said. "I am at this point just keeping all of my options open.
"These things have securities, they have regulatory requirements. So they have to be ultimately ... signed on the dotted line before there's any kind of an agreement."
Dexter said negotiations are continuing on building a subsea cable between the two provinces that would transmit Lower Churchill's power but he is optimistic an agreement will be reached.
Premier Danny Williams of Newfoundland and Labrador has scheduled a news conference for Thursday to make an unspecified announcement.
Williams's office, Emera and Nalcor Energy -- a Crown agency in Newfoundland and Labrador -- declined comment on reports of a deal on the Lower Churchill project.
