There is much written here about BC Hydro and 17 years of flat demand for electricity by the utility’s residential, commercial and industrial customers. Despite that, in the first quarter of fiscal year 2021-22, the volume of BC Hydro’s purchases of private power from IPPs increased 21% over the same period the year before…
Climate science demands immediate reduction of greenhouse gases. Electricity can replace fossil fuels for many uses, but how that energy is generated and distributed is vitally important. As a monopoly able to charge whatever it needs to survive, BC Hydro can stumble along, perhaps for another 20 years, relying on legacy technology. But as the utility’s prices rise, customers will look for other solutions. When that happens, call the corporate undertaker.
In the year ended March 2021, BC Hydro bought 14,630 gigawatt-hours of electricity from independent power producers (IPPs). The utility paid $1,403,000,000 for that power, an average of $95,899 per gigawatt-hour. Meanwhile, BC Hydro sold surplus electricity on trade markets. It realized $42,520 per gigawatt-hour on those sales, a per-GWh difference of $53,379.
At the legislated deadline, and just before the last holiday weekend of summer 2021, BC Hydro released its financial results for the period April 2020 to March 2021. The utility’s annual service report contains pages of interest to serious analysts, but most of it is bumf, likely read only by the company’s PR minions. But a few pages reveal information that government would rather people ignore…
Corporate media can’t be bothered to report what is happening at BC Hydro. Facts are readily available; they’re just not examined. The reason why was explained by the organization Fairness & Accuracy In Reporting (FAIR): “Independent, aggressive and critical media are essential to an informed democracy. But mainstream media are increasingly cozy with the economic and political powers they should be watchdogging.”
Energy democracy is a social movement aiming to create a new paradigm for electric power supply. The objective is to link social justice with technical innovations by involving local communities in creation and ownership of renewable energy sources. Since the 1960s, BC Hydro has destroyed land and dispossessed or marginalized residents to complete megaprojects. While publicly owned, it is a monopolistic business empire stuck in a 20th century mindset. The company has routinely misinformed citizens, using lies to justify continuous expansion despite zero demand growth for the better part of two decades…
While John Horgan’s government was almost doubling the Site C budget to C$16 billion, the Biden administration was getting ready to approve a C$3.4 billion wind project off the coast of Massachusetts. The per megawatt cost of the wind project is less than 30% of Site C’s capital cost per megawatt and it destroys no farmland, violates no Indigenous rights agreements, and presents no threats to nearby communities…
Like BC Liberals before them, BC NDP is dishonest about BC Hydro operations and the Site C megaproject. Government joins BC Hydro and continues lying about demand growth. At the same time, they hide embarrassing information about the dam and its out of control budget. The Horgan path is inexplicable when pre-2017 NDP statements are reviewed. The explanation will be had some years from now when NDP opponents are denouncing the party’s competence. Liberals used BC Ferries as a hammer for 15+ years after the 1990s but the financial blunders at BC Hydro are much, much larger…
A Bloomberg Quicktake video, How Boeing Lost Its Way (embedded below) put me in mind of BC Hydro. Years ago, both companies were effective in delivering value for money to customers. Then attitudes changed. Growing bigger became more important than growing better…
Unrestrained capital spending and needed write-offs of valueless items will result in major rate increases. But that presents a critical problem. Alternatives for consumers are steadily getting easier and less costly. BC Hydro is entering the utility death spiral.
In the early 2000s, Liberals changed BC Hydro’s primary purpose from utility service for the public to financial service for party friends and other special interests. BC NDP carries on much as before, except they slightly altered beneficiaries of the utility’s massive spending…
Lindsay Brown is a reliable information provider, particularly about energy in British Columbia. Her Twitter thread today should be required reading for every politician and BC Hydro ratepayer. It’s repeated here with permission…
Proponents of megaprojects routinely underestimate financial costs. After conducting an extensive study, top experts concluded this is caused by “strategic misrepresentation, that is, lying.” In addition, proponents invariably ignore environmental and social costs of megaprojects…
In-Sights reader Bruce has been thinking about BC Hydro and asked important questions, I offer my answers but with a broader picture of what BC Hydro is today and why…
Misinformation and secrecy have become the bywords at BC Hydro and at the Premier’s office and the provincial energy ministry. Because the decision makers involved with Site C are determined to spread misinformation, they rely on secrecy to keep evidence out of the view of project critics and the BC Utilities Commission…
When the project assurance board was populated by insiders and avid Site C cheerleaders, inevitably, it would fail to protect the public interest. Everyone involved knew that but were satisfied with the status quo. The main responsibility for massive waste and destruction in northeast BC lies not with self-interested enablers and not to the previous government; it belongs to the man who four years ago needed money to wage an election campaign. To get it, he made promises to a group of trade union leaders.
No one doubts that in coming decades, demand will grow, partly fueled by electric vehicles. But that growth will be more modest than claimed by BC Hydro’s agents. It could be easily met by conservation and efficiency programs, upgrades to existing facilities and creation of clean, non destructive renewable sources.
Future BC Hydro ratepayers will be paying excessive rates for electricity and BC Hydro financial statements have been distorted by non-standard accounting methods. These allowed the provincial government to direct payments of dividends funded by borrowing, not by real profits of the utility. But other failures and mismanagement at BC Hydro are apparent…
Never has the government of British Columbia stood behind a larger megaproject than the Site C hydropower project. Never have more falsehoods been used to justify BC Hydro operations and the spending of tens of billions of dollars.
While British Columbia has policies to prevent additions of solar power to the provincial power grid, Germany has been moving forward on this form of renewable electricity. It should be noted that the centre of Germany is at a latitude similar to that of Kamloops…
Aside from "The Chosen One'" PhD niece, Mary Trump, who is investigating the psychological side of DJT? Erika Jordan. Erika…
The first indication that the UK could shift focus on energy resulted in a nation-wide ban on fracking. The next…
[…] Source link […]
The US influence extends it's foreign policy to unwitting allies with the UK and Canada being prime examples. With this…
in-sights.ca 
I believe Canadians made the right choice in the last general election. Mark Carney has represented us well on the…