BC Hydro

Looting W.A.C. Bennett’s legacy

raeside

Raeside, Adrian “Thank you for your call…“, Sept 28/99. Accessed from SFU Library Editorial Cartoon Collection on Jan 26/17


If you are a regular reader or follow me on Twitter or Facebook you will know about my article at The Common Sense Canadian:

Liberal pals plundering BC Hydro for tens of Billions.

Much of the information has been written about at In-Sights. Because the people at Common Sense Canadian believe BC Hydro should be a paramount issue in BC’s May election, they asked me for a contribution that laid out important facts. I was happy to cooperate.

There is much fine information at CSC.  Rafe Mair, Damien Gillis, Erik Andersen and other writers post regularly and they are informed, attentive and articulate.

Here are a few excerpts from Liberal pals plundering….:

…BC Hydro’s profitability and financial strength guaranteed corporate raiders would attack, seeking to convert public wealth to private. To be successful, they needed cooperation of modern political rulers and, whether explained by incompetence, philosophical bent or desire for covert rewards, the Liberals cooperated fully.

Looting Bennett’s Legacy

Ironically, among today’s political facilitators of the utility’s destruction is W.A.C. Bennett’s grandson, BC Hydro Chair Brad Bennett, a Liberal apparatchik and close Christy Clark pal. Another is Hydro CEO Jessica McDonald. She was Deputy Minister and confidant to Gordon Campbell in 2006 when the premier’s office invited predators to get rich on electricity.

…BC Hydro’s encompassing blunder was failure to recognize technology and market changes revolutionizing the energy industry. Hoping to grow their fiefdoms and deliver value to demanding friends, Hydro executives chose to ignore reality. They steadily issued demand forecasts predicting immense growth. (“If a boy holds a hammer, everything needs pounding.”) Meanwhile, consumers were conserving…

IPPs get rich on ratepayers’ backs

Despite all the above, over the past decade, amounts paid to IPPs have tripled. Independent power producers more than doubled deliveries to BC Hydro and the utility was forced to dump surplus power outside the province, with trades sales at an average, since 2005, of just 28% of prices paid private producers. And that loss is made worse because of Hydro’s collection and distribution costs.

So, for every dollar we pay them, we lose more than 72 cents…

The goose that lays the golden egg

More recent opponents of Liberal power policy assume that, beyond grabbing the profits to be made flipping IPP contracts, political operatives aimed to cripple BC Hydro to make its privatization palatable. The writer believes that, while this was the initial plan, the guiding parties decided they could gain more another way.

There was no need to privatize Hydro’s assets and liabilities. Instead, they privatized its profits and left Hydro and the public with all the financial risks…

Liberal donors control Hydro board

Clearly, BC Hydro has been in disarray for some time. In fact, it is operating as an affiliate of the BC Liberal Party. Of the eleven people collecting fees as directors of the province’s utility in the last fiscal year, all have records as party contributors or close associates of Liberal politicians. Some have business dealings impacted by business activities of BC Hydro.

2 replies »

  1. Norm – the public of our province have just received, from you and your many, many hours of research going back a decade ir not more, the truth. The irrefutable truth. The full truth. The story of how this business oriented government destroyed the jewel of our crown. I’ve said on this page and you’ve said, it’s beyond belief and the evidence that this happened just through mismanagement, i call for the Attorney-General to stop being a politician and shielding the government from the legal investigation by crown counsel an attorney-general who knew and performed her duty would have ordered long ago.
    Do your sworn duty, Madam Attorney, that’s all the people ask. Just do your duty.

    Liked by 2 people

  2. Hello Norm: Thank you for keeping British Columbians informed.

    I think Christy Clark’s Jobs Plan is to: “Make the BC Liberals Great Again”. The Plan is to keep all of her friends working and make Management rich.

    This is achieved by hiring robots that have no morals or ethics. Seems that wealthy donors fit her needs nicely while temporary foreign workers will keep costs lower.

    The media for the most part include a smiling photo op and include as much in-depth research as a Trump tweet. See Tom Fletcher’s column in David Black’s Press as an example of BC Info commercials called Legislative reporting.

    The inner circle of top MLA’s have been groomed much like robots, with parrots – tweeting nonsensical half truths with few facts. (Mount Polley took a cracker.)
    MLA robots are easily controlled and can be decommissioned at the flick of the switch.

    The fact that Christy Clark’s Debt Reduction formula has taken BC ‘s debt from $30 billion to $70 billion in 5 years shows she failed in math, economics and ethics. The Hydro dam will produce only one Liberal MLA for the northern region.

    Christy Clark ‘s legacy of the Site C Dam being taken to beyond the point of no return is that she will be damned for eternity. Mother Nature has a plan for her.

    Liked by 3 people

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