Requiring BC Hydro to purchase power that it doesn’t need is an idiotic decision and a gift to the private power industry. Three months ago, the BCUC said buying this power was not in the public interest, and yet the BC government is ignoring their own regulatory watchdog and ordering BC Hydro to spend billions of dollars on power we don’t need. This decision won’t reduce greenhouse gas emissions in BC by one iota, but it will damage a lot of streams and rivers in the process,” said Gwen Barlee, policy director with the Wilderness Committee.
Ms. Barlee called Gordon Campbell’s decision to reward Independent Power Producers idiotic, but for a relative handful of people, it was a cunning plan.
This cunning plan was very rewarding.
Gaining billions of dollars, with a promise of $50 billion more, by selling an unneeded product to a single customer for a multiple of market value ought to earn IPPs a featured place in the Canadian Business Hall of Fame. Or, should that be the Hall of Shame?