Energy and Mines Minister Bill Bennett announced a five-year, $300 million hydro bill deferment plan for 13 mines owned by six companies.Never mind that B.C. Hydro is already grappling with its own deferral problems to the tune of $5 billion.
Make no mistake, there’s a price to pay when B.C. Hydro becomes a political arm of government. The intertwining of self-interests gets complicated, while the interests of ratepayers can take a backseat to political interests.
Three of the six companies in Bennett’s deal were highlighted in a December Financial Post article, “Debt risks mount as Canada’s base metal miners sink deep in the hole.”