Message From The President And CEO


For more than 60 years, Newfoundland and Labrador Hydro has delivered electricity to over 200 communities throughout our beautiful province. We know each and every one of you counts on us to deliver safe, reliable, cost-conscious electricity to your homes and businesses. And I assure you, we are honoured to take that responsibility seriously for the next 60 years. These next years are going to be full of exciting, impactful and interesting opportunities.

We’re keenly aware the energy landscape is changing rapidly around us, and we all must be ready to respond to these changes. Hydro must ensure that our province has the electricity needed – such as when residents switch from oil to electric heat, to power the increasing number of electric vehicles, and for our industries to have more renewable ways to run their operations. And in readying for this changing landscape, you expect Hydro to make sound decisions, with the best interests of the people of the province in mind.

In 2022, Hydro continued to evolve as an organization to meet your expectations. For over a year now, Hydro has been transforming its operations with 2022 marking our first full year as a single organization under a unified vision, having brought the former Nalcor Energy operations under Hydro in 2021. Some major changes occurred since that time, and Hydro has delivered.

In 2022, our electricity system saw an improvement in reliability when compared to the previous 5 year average. Hydro managed operating costs and began to see the impacts of the Muskrat Falls project in operation, with a net income of $580 million. Our employees’ relentless efforts contributed to an improving safety record with a significant reduction in near-miss incidents. We advised the regulator and interveners that we must now make decisions for additional electricity supply to support an electrifying society and for reliability support reasons. And, in late winter 2023, we achieved official commissioning of the Muskrat Falls project.

As our region and country advance plans to decarbonize and achieve net-zero targets, Hydro is well-positioned to take a lead role in supporting the energy transition.

We cannot underestimate the impact our province will see as a result of the demand for renewable sources of electricity. The dramatic societal shift is having major impacts on electricity grids and utilities planning for the future, and utilities like Hydro have to balance substantial growth at significant speed. As a result, we need to make decisions today in order to respond to the increasing demand. Hydro continues to plan ahead responsibly for Newfoundland and Labrador’s electricity needs over the longer-term, and we’ve worked openly with the PUB and intervening parties in proposing and assessing a blueprint for future supply. Hydro is committed to transparency and accountability in our decision-making. We welcome this scrutiny as we know we are stewards of our province’s energy resources. Our approach to fiscal responsibility, transparency and accountability is carried throughout every part of our organization.

While our assets are critical to our system, it’s our dedicated and skilled people that are the heart of our operations. The expertise, and character, of our employees shone through in 2022 in a number of instances, in particular as several parts of the province battled significant and devastating weather events.

Whether it was working in severe weather conditions to restore power to customers on the Connaigre Peninsula and in Red Bay, Labrador after extended ice storms, preparing for the spread of wildfires and possible shutdown and evacuation in central Newfoundland or responding to the devastation of Hurricane Fiona at home and then travelling to Nova Scotia to help their hardest hit areas, our teams never backed down from a challenge and never hesitated to do what was needed to serve our communities and friends.

I am so proud of the work we do every day, and of the people who make this company an amazing place to work, and who care so deeply about this province. In these, and so many other ways, we’re making a tangible difference in our communities each and every day.

As we look to 2023 and beyond, we’ll continue to focus on the future needs of our system while recognizing our responsibility to our environment, our customers and the people of Newfoundland and Labrador.

Thank you for the honour of serving you.


President and CEO
Newfoundland and Labrador Hydro