Under Gordon Campbell in 2001, BC Liberals began with a commitment to “open and accountable decision-making.”
Under John Horgan in 2017, BC NDP began by asserting that “fiscal management should be prudent, transparent.”
Soon after taking office, both parties quickly forgot promises of openness.
In 2017, BC Hydro delayed release of its annual report because government was confused about what to do about accounting duplicity that hid the utility’s real financial condition.
Ultimately, BC NDP did little to alter BC Hydro and chose to continue down the road paved by BC Liberals.
Now, only five business days remain in the fourth month following BC Hydro’s fiscal year end. The annual report and audited financial statements for the fiscal year that began 16 months ago are unavailable.
BC Hydro is a sophisticated organization that pays millions of dollars each year for financial record keeping. In addition, it employs a costly PR group to create public reports. External auditors conduct interim work so that audits can be completed in timely fashion.
Had BC Hydro executives chosen to, the annual report and financials could have been released one to two months ago. Much of the report is boiler plate that is substantially reused each year and key business information is created internally within days of period end.
What is working here is an absolute disregard for transparency and accountability.
The Site C megaproject provides further evidence.
This was taken from BC Hydro’s website today:
Indeed, the last quarterly report issued was for a period that began almost 13 months ago.
There are a few reasons why politicians and bureaucrats hide information, none of them are good for taxpayers.
Categories: Accountability, BC Hydro
Hey its 5 pm friday and still no report .oh well thers 5 pm next friday long weekend start.
Last friday subway broadway announced
Must be soon though they reported car charging up to pre covid levels.
Can you explain what you wrote, specifically “..car charging up to pre covid levels.”
Also “Last friday subway broadway announced”
Assume you meant ‘..there is…”?
More red flags than in Tiananmen Square China.
If this was the reporting record of a publicly traded company the short sellers would be circling like wolves and shredding the stock. Hydro board and executive would be thrown out. Minister oversight and Ministry regulators in the hot seat for their very suspect negligence.
This is a great line Norman, “In 2017, BC Hydro delayed release of its annual report because government was confused about what to do about accounting duplicity that hid the utility’s real financial condition.” It all would have been good if they didn’t have to tell people what they are doing…. That just wrecks the whole gaming thing.
Then “Ultimately, BC NDP did little to alter BC Hydro and chose to continue down the road paved by BC Liberals.” After so many promises including restoring the BC Utilities Commission the NDP went without even having the good intentions to back them up.
It looks like a sure thing that neither of these parties deserves to form a government.
All I can say, the same thing is happening with our regional transit.
To quote RanD H.: “Then “Ultimately, BC NDP did little to alter BC Hydro and chose to continue down the road paved by BC Liberals.” Just add TransLink for BC Hydro and exactly the same situation stands.
The taxpayer is spending $4.6 billion to build a mere 12.8 km of SkyTrain line, yet TransLink does not give the actual annual operating costs for this, nor does TransLink telegraph the point that this does not include cars.
Also, to further muddy the waters, TransLink gives ridership numbers as “Boarding’s” which is disingenuous because Metro Vancouver’s transit system is designed to force bus riders onto SkyTrain, thus the majority of transit customers make 4 or more boarding’s daily! With the Compass Card, it is easy to report the “unique” use of the card to get more accurate ridership numbers.
The NDP, after gaining power, just uses the Gordon Campbell/Christy Clark playbook and toy with another FastFerry style fiasco and not just in transit, but Hydro, just like ICBC.
One really has to ask, how dumb can you be, because the taxpayer are not as stupid as the politicians would like us to be.
Are Horgan’s NDP that stupid?