Hydro is a Crown corporation, owned by the Province of Newfoundland and Labrador, and is the parent company of Churchill Falls (Labrador) Corporation (CF(L)Co), Lower Churchill Development Corporation Limited, Gull Island Power Company Limited and Twin Falls Power Corporation Limited. In October 2007, the Government of Newfoundland and Labrador proclaimed legislation to create a new provincial energy corporation charged with pursuing business opportunities in the energy sector. The new Crown corporation, which commenced operations in 2008, will be wholly owned by the province and will be the parent company of Hydro, CF(L)Co, other subsidiaries currently owned by Hydro and new entities created to manage the province’s investments in the energy sector. Headquartered in St. John’s, Hydro supplies over 80 per cent of the province’s electrical energy, has operations in wind generation, and, research and development, and is expanding into oil and gas. Hydro is dedicated to delivering safe, reliable, least-cost power in an environmentally-responsible manner to industrial, utility and over 35,000 direct customers in rural Newfoundland and Labrador. The combined installed generating capacity of the company and its subsidiaries is 7,307 megawatts (MW), of which 90 per cent is clean, renewable hydroelectric power. The company is the fourth largest power utility in Canada and the province’s main energy provider with electrical sales of 38,750 gigawatt hours (GWh) in 2007, 8,695 GWh for domestic use and 30,055 GWh for export. Currently, there are over 1,200 employees in four lines of business: Regulated Operations, Churchill Falls Operations, the Lower Churchill Project, Business Development and Support Services. Copyright © 2008 NL Hydro, All rights reserved.