• In fiscal year 2006, BC Hydro sold more power to BC’s residential and business consumers than it sold in 2017. Efficiencies in how we use power provide the explanation.
• In fiscal years 2006 & 2007, BC Hydro paid independent power producers (IPPs) $812 million.
• In fiscal years 2016 and 2017, BC Hydro paid IPPs $2,442 million.
• Between the end of FY 2006 and September 2017, BC Hydro’s assets grew by $19.9 billion and the utility added 16% to its internal generating capacity.
Despite no growth in domestic demand and a significant increase in BC Hydro’s internal generating capacity, IPPs were paid ever-increasing prices for delivering escalating quantities of electricity.
This situation defies logic.
Surplus private power resulted in BC Hydro reducing its own low-cost production and/or dumping electricity outside the province at a fraction of its cost. Now, special interests want BC Hydro to build Site C.
Site C is not needed in the foreseeable future. Alternatives are cleaner and cheaper. For example, solar and wind power is being delivered to utilities elsewhere at less than 3¢ per KWh, about 1/3 the expected cost of electricity from Site C.
However, people who benefit by the public spending billions of dollars only care about filling their own pockets. Those same folks are now campaigning to keep the troughs full of public money
The financial and consumption information provided above is taken from reports of BC Hydro but it has not been accurately reported by corporate news publications or broadcasters.
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Please act immediately. There is little time before government makes a final decision. If we don’t stop Site C, the grandchildren of our children will still be paying.