BC Hydro recently released its first quarter results for the fiscal year ending March 2024. The report covered three months in 2023: April, May and June. It is worth looking at the changes at British Columbia’s public utility since June 2007.
The crown corporation executives have been busy. Assets employed to serve BC Hydro’s customers grew 263 percent between June 2007 and June 2023.
Unfortunately, asset growth meant liabilities grew as well. Those were up by a factor of 2,013 percent.
In addition to vast spending on BC Hydro’s own facilities, the utility contracted with private companies for power. BC Hydro’s contractual obligations for IPPs amounted to more than $50 billion as of March 2023.
Of course, prices charged consumers to support a much larger organization grew significantly.
Only problem here is the volume of electricity sold in the first quarter of fiscal year 2024 is exactly the same as in the first quarter of fiscal year 2007.
In the quarter just reported, each GWh of electricity delivered to BC Hydro’s domestic customers employed $3.85 million in assets. Sixteen years ago, each GWh of energy employed $1.06 million. Quite a difference.
Remember, during most of this noted periods, BC Hydro was promising demand growth of 40 percent over 20 years.
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Categories: BC Hydro
in-sights.ca 
Thanks for giving BC Citizens this eye popping presentation of how extremely bad BC Hydro’s financials have been managed.
Some of us can remember a previous attempt by Premier Campbell to take BC Hydro private , like he did with BC Rail.
By the look of your charts, especially the debt, the give away of this Crown Corporation is on again. Soon the politicians will publicly “discover” the huge imbalance between debt and income and then tell us we have to escape by turning the corporation over to the private sector, at a big financial loss for BC Citizens.
This is right out of John Perkins playbook; as he describes the deliberate loading on of too much debt in his book “Confessions of an Economic Hitman”.
Cheers Erik
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on a recent boat trip up the peace river we filmed hundereds of half burnt log piles and hundereds of thousands felled trees laying around like a thousand pickup sticks-as the water raises flooding the peace river valley this trash left by bc hydro will float causing huge log jams-moose-elk -deer -grizzley and black bears -bears asleep in their dens will drown and all other critters trying to swim across the river to solid ground will get caught up in these log jams and drown—this was documented in the flooding of williston resivoir years ago in the last 4 pages of the book -(crooked river rats by bernard mckay)-hundereds of thousands of moose were drowned and there rotten bloated carcassas were floating in the water for years to come—this will happen again at site c–it is no wonder that bc hydro wants to shut down the peace river valley to all boaters so no one can see this event un-fold–i intened to film the whole event–the crooked corrupt federal-political-corporate coruption dealing with site c is un-parrralled anywhere in the world—mark meiers-charlie lake bc
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