ANNUAL REPORT 2024
We are the people’s utility. As we face the challenges and opportunities of tomorrow, we remain focused on our mission to provide reliable, renewable and least cost energy to those we serve.
2024 has been transformative. This past year will be remembered for it’s thoughtful, customer-driven resource planning, the unwavering resilience of our cherished company town of Churchill Falls, and a historic announcement that reshapes our province’s story and charts a course toward a more prosperous future.
Read on to find out more about our 2024 accomplishments, including our financial and business performance.
In Memoriam
We remember our former Board Chair, Mr. Albert Williams, who passed last fall. Mr. Williams was a highly valued part of the Hydro team and a kindred
Albert Williams
1951 – 2024
spirit to all those working towards a bright future for our industry and province. We offer our condolences to his family, friends and colleagues; he will be missed.
YEAR IN REVIEW
MESSAGE FROM THE PRESIDENT AND CEO
JENNIFER WILLIAMS
I have never been more proud to deliver an annual report. This year has been one of significant transformation and remarkable achievement for Newfoundland and Labrador Hydro.
We proudly reflect on the milestones reached, from the historic Memorandum of Understanding (MOU) with Québec, to the continued reliability and expansion of our electricity infrastructure. Our commitment to delivering smart, customer-focused, renewable solutions is unwavering, as we work alongside government and communities to ensure a bright and sustainable future for Newfoundland and Labrador.
SERVING OUR PROVINCE
Reliable and Customer Centric
From the remote communities of Labrador to the Island’s most urbanized regions, our expansive transmission and distribution network, and the people behind it, proudly serve over 500,000 customers.
This year, our dedication to providing safe, reliable electricity has been demonstrated by our continued investment in infrastructure, strategic planning, and resilience.
ENABLING SUSTAINABLE GROWTH
Building a Stronger Energy Future
As the demand for reliable, renewable energy grows, we’re focused on positioning Newfoundland and Labrador Hydro to meet the needs of a changing world.
This year, we took critical steps to secure the future of energy in our province, including the development of the 2024 Resource Adequacy Plan which addresses the province’s growing electricity demands, and the signing of a new energy MOU with Quebec, delivering more money, more jobs, and more energy for Newfoundlanders and Labradorians.
This year was a huge stride forward to a brighter future!
WORKING TOGETHER
Resilience and Partnership
At the heart of our success is the strength of our team and the relationships we build with our communities, partners, and customers.
This past year, we demonstrated resilience and unity, particularly during the challenges posed by forest fires in Churchill Falls. Our values of safety, collaboration, and forward-thinking were on full display as we responded to safeguard both our infrastructure and the community.
We also launched our first ever Accessibility Plan, and continued to foster a culture of equity, inclusivity, and teamwork, proudly becoming the recipient of the Employer of Diversity Award.