In 2001, BC’s party of big business was called Liberal; in 2024, it is labeled Conservative. Different names; same purposes. Some voters in the October election were not even born when the right-wing coalition took power in BC. As a result, I offer this reminder of the BC Rail scandal and explain how that affected BC Hydro.
In late January, Manitoba Hydro CEO Jay Grewal said the utility would need new sources of electricity within five or six years. She reiterated a plan to meet new demand by contracting with private electricity producers. Shortly after, the Manitoba government fired Jay Grewal.
BC’s government seems determined to continue the present model for private power in the intended 2024 call for additional electricity. The difference in 2024 will be that large contracts for wind power will be issued. Government knows that citizens would not, and should not, tolerate privatization of the public utility. The arrangements with Independent Power Producers, which are largely owned outside of British Columbia, amount to privatization by stealth.
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.
BC’s Auditor General says the 2022 surplus would be $6.5 billion higher if government followed Canadian Public Sector Accounting Standards. The surplus would have been $8 billion had government also eliminated fossil fuel subsidies.
Because corrupt practices of the past are not easily resolved in court, it may be too late to save the billions of dollars that will flow to private power producers. But it is not too late for voters to punish political figures who originated or tolerated this grand scheme. They sit on both sides of the BC Legislature.
An extensive private power industry was created by Premier Gordon Campbell and friends early in the 21st century. A government that had little regard for nature opened vast areas of wilderness for construction of generating facilities…
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…
More than ten years ago, economist Erik Andersen and famed commentator Rafe Mair warned that BC Liberals had planted seeds of destruction in the bowels of BC Hydro. Indeed, the seeds germinated, spread invasively and debilitated the once proud utility. Citing five vectors, Andersen concluded the financial position of BC Hydro was headed dangerously downward…
Commercialization of small-scale nuclear power has turned out to be far more difficult than investors expected a decade ago. Even one of the world’s richest entrepreneurs cannot finance a multi-billion-dollar program with an uncertain future. Nuclear may play a role in the 2030s but solar, wind and geothermal are viable power sources today…
People promoting continuation of “energy self-sufficiency” are really saying that British Columbia should continue giving a unique and costly advantage to one particular industry, a sector that has grown used to taking in close to a billion dollars a year in above-market payments…
A comment on my article at The Tyee is repeated here along with some hints about how dollars might have influenced reporting on IPPs by members of the corporate media.
Despite flat electricity demand since 2005, BC Hydro increased dollar value of IPP purchases by 185%, added 17% to its own generating capacity and bumped total assets from 12 to 38 billion dollars and is spending 15+ billion more on capital expenditures…
Electricity ratepayers, mostly residents and small to medium sized businesses, suffer because of failures by politicians and major media. The public was badly informed and that has enabled losses that will ultimately measure in the tens of billions of dollars. This should be British Columbia’s largest ever political scandal but the people responsible for it will never be held to account. On the contrary, the scoundrels have departed or will one day retire in unsullied comfort…
The 40% demand growth over 20 years is a fantasy spun for so long that it is baked into BC Hydro’s DNA. No surprise. Not spending billions of dollars to expand a system with stable demand would leave more than a handful of affluent folks looking for work.
Billions of dollars in the accounts of vested interests instead of the pockets of residents and SMEs. That’s will be the outcome after Clark Liberals and Horgan’s NDP greenlighted Site C, a $12 billion dam, which BC residential and SME consumers do not and will not need.
Political and power industry insiders dictated terms for the original IPP schemes but corporate inertia keeps them alive. BC NDP enjoyed the short-lasting attention paid Ken Davidson’s ZAPPED report since it highlighted BC Liberal incompetence or malfeasance. But, the expose was quickly put into storage. Business continues largely as before. It’s only the public’s money…
Years ago, SFU Professor and private power promoter Mark Jaccard assured us “independent power producers who will lose their shirts — not ours – – if they get it wrong.” In his 2018 retrospective report, government finance expert Ken Davidson concluded that somebody got it wrong but definitely not the independent power producers.
Excepting BC Green Party leader Andrew Weaver, politicians on both sides of BC’s Legislature are reluctant to discuss natural gas policies. This week, the BC NDP raised gas subsidies. That’s unfortunate because climate change is a critical threat to the world we live in and fossil fuels are a prime cause.
Throughout that time, I couldn’t understand why the obvious insanity of costly private power programs didn’t raise the ire of many citizens. For that, I lay a large part of the blame on radio and Press Gallery pundits. Some had personal interests affecting their points of view and some believed that health of the business coalition party ranked above the public interest.
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Reading between the lines of this speech, I can make out letters that spell Gripen.
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