if we needed more evidence that BC Hydro has become the tool of financial pirates, Rich Coleman provided it Tuesday with news that public hearings scheduled to begin a month from now are cancelled. As Vaughn Palmer writes,
“The commission had to approve the rate increase sought by BC Hydro in every respect, as set out in a 1,500-page application.
“Capital budgets. Operating costs. Rates of return. Amortization. Forecasts, even for such inherently volatile exercises as trading electricity with neighbouring jurisdictions.
“…There was also this: “The commission may not reconsider, vary, or rescind the orders it issues except on the application by the authority.” The authority being BC Hydro — and yes, that means the regulator is bound hand and foot to do the bidding of the very utility it is presuming to regulate…”
There you have it.
Are you concerned about BCH purchasing power it does not need, high prices paid for electricity generated by private companies in public rivers while BCH turbines sit idle or about smart meters costing 240% more in BC than in other jurisdictions?
Be patient though, the clock is counting down on opportunities remaining for Rich Coleman, Pat Kinsella and friends to loot the province. The election that will send Christy Clark’s gang to oblivion is only 51 weeks away, unless they decide to change that law as well.
Additional reading courtesy of Ian Reid at The Real Story: BC Hydro + crony capitalism = you’re screwed