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TORONTO (AP) - North America's largest utility company Hydro-Quebec has announced it will pay 4.7 billion Canadian dollars ($4.4 billion) for transmission lines of New Brunswick Power, a deal that would help the company secure greater access to electricity markets in the U.S.
Hydro-Quebec announced Thursday that it expects to spend up to 25 billion Canadian dollars ($23 billion) over the next decade to boost its hydro electric output by 4,500 megawatts a year.
Much of that will be exported to the United States and Ontario since growth in the Quebec economy is not expected to need that much power.
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