Russia's energy giant Hydro OGK is making moves to attract industry by dangling the hydro-power carrot.
OGK senior executive Vyacheslav Sinyugin says metal producers are approaching them for possible joint ventures and investment.
Here are some of the direct quotes from Sinyugin:
"Major energy consumers are very important clients for hydroelectric companies the world over. Russia is no exception."
Sinyugin said large energy consumers such as metals producers were attracted by stable prices for long-term supply.
"What attracts these clients? First and foremost, price stability. The only factor influencing prices is tax payments, compared with fuel prices that can fluctuate widely.
For some reason these large energy consumers are looking everywhere but Newfoundland and Labrador. They must be absolutely certain that in order to use Labrador power - they will have to follow it to the jurisdiction we export it to. This is just not acceptable anymore. Our plans for the export of hydro-electric power must change - and industry must be sent a clear message.
If you want to use the power from the Lower Churchill - then you must set-up in Labrador.
