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Negotiating teams had hoped to have final agreements hammered out in April 2026. However, Wakeham said Tuesday that the review panel will have until the end of that month to finish its work. He also reiterated his promise to subject any final agreements to a public referendum.

"I've turned around and done in six weeks what the previous Liberal government failed to do in almost a year," Wakeham told reporters in St. John's, N.L. "If this had been started last January, instead of what we put in place, we could have had this review done."

Under the terms of the draft deal, Hydro-Qu茅bec would pay more for power from the Churchill Falls plant in Labrador and lead new developments along the Churchill River, in partnership with Newfoundland and Labrador Hydro.

The Liberals have said the new proposed arrangement promises about $225 billion to Newfoundland and Labrador over the next 50 years. The new arrangement would end an existing contract 16 years early that allows Hydro-Qu茅bec to buy the lion's share of Churchill Falls power for rock-bottom prices and sell it at much higher rates.

Quebec Economy Minister Christine Fr茅chette has said a defeat for her party, the Coalition Avenir Qu茅bec, in next year's election could jeopardize the new draft deal. Quebecers must vote before October 2026, and Fr茅chette's party is lagging in the polls. Wakeham said he was not concerning himself with the possible outcome of Quebec's election.

"All I am concerned about are the people in Newfoundland and Labrador, and the future generations of Newfoundlanders and Labradorians," he said. "This is our resource, let's develop it with out people for the benefit of our people." Wakeham said he plans to meet with Quebec Premier Fran莽ois Legault in the new year.

Chris Huskilson, a former chief executive of Nova Scotia-based power company Emera Inc., will chair the review panel. Its roster also includes former EY executive Michael Wilson, who has criticized the draft deal and said Newfoundland and Labrador could get better terms.

Wilson was part of a panel established by the previous Liberal government to oversee the negotiations of final contracts. He resigned from that group, saying the team's mandate as interpreted by the Liberals was not wide enough to properly review the contract.

Huskilson said he was not familiar with Wilson's past opinions "in any detail." He said the government launched the review under its public inquiry legislation, which empowers the team to operate independently and access what they need to complete their work.

"All three of us are very focused on this being independent and starting with fresh information," Huskilson said in an interview.

The panel will consider several questions, including whether alternative power markets were considered and whether claims about the agreement's economic returns were accurate and reasonable.

Ultimately, the panel is tasked with determining if the tentative deal is in the best long-term interests of Newfoundlanders and Labradorians, according to the review's terms of reference.

Four months will be enough time, Huskilson said, "as long as the information is there."

"We'll start just as soon as possible," he said, adding that the panel had its first conversation on Monday.

"We'll do as much as we can before Christmas as then move from there."

This report by 好色tvwas first published Dec. 15, 2025.