More power supply and less demand should drive down costs. Instead, California’s electricity rates have surged 12% since 2008. BC Hydro average sale price rose 63% in the same period.
Liberals have been rotating a sharp-pointed metal pin with a raised helical thread within BC Hydro and ICBC but they began with BC Rail and BC Ferries. Lately, I’ve written mostly about BC Hydro but […]
An item previously published at In-Sights Large Dams Cost Twice Original Budget, Researchers Say, Bloomberg Business, March 11, 2014: Large dams run 96 percent over budget on average, according to a University […]
In 2014, BC’s government claimed public sector organizations would operate under principles that strengthen accountability, promote cost control, and ensure the corporations operate in the best interest of taxpayers. If you’ve read my work on BC Hydro, examined Bob Mackin’s frustrations with FOI or generally followed provincial politics, you would have known the claims were hollow from the start.
Now, three years later, the Auditor General confirms that assertion
In a May 2009 article, The Economist describes Vancouver as a distribution hub in a global drugs trade. It says gangs ship out cannabis, amphetamines and ecstasy made in BC, importing cocaine, heroin and guns, fighting over a business worth an estimated C$7 billion a year. “That they do so in broad daylight demonstrates the feckless response of the provincial government and police, despite reports dating back more than 30 years giving warning of the growth in organized crime. According to SFU criminologist Rob Gordon, the current effort at collaboration, led by the Mounties, is “riven with conflict.”
We’ve seen that organizations make political contributions directly and through lobbyists. We know they use subsidiaries, affiliates and nominees but EBC makes little effort to report connections. In a report by Corporate Mapping Project, Teck Resources seems to have contributed $1.5 million to BC Liberals. However, a more complete listing provides a much larger number: $2.8 million. Even that is incomplete. It is important to know the benefits flowing from Teck to the Liberal Party but we must keep in mind the benefits flowing to Teck. That company was reportedly responsible for $743 million of a $1.2 billion unfunded liability for mine cleanups.
Demand for electricity is in decline. Technology has changed. Dams are not benign and other sources of power are less expensive. Meaningful conservation is cheaper still.
A brisk building boom of hydropower mega-dams is underway from China to Brazil. Whether benefits of new dams will outweigh costs remains unresolved despite contentious debates. …We find overwhelming evidence that budgets are systematically biased below actual costs of large hydropower dams — excluding inflation, substantial debt servicing, environmental, and social costs. …The outside view suggests that in most countries large hydropower dams will be too costly in absolute terms and take too long to build to deliver a positive risk-adjusted return
$101 billion in contractual obligations is breathtaking? What is really surprising is that Toronto Globe and Mail’s BC political reporter didn’t notice before February of 2017. On one hand, I applaud Ms. Hunter for daring to mention the subject now. On the other hand, I wonder why she previously avoided this huge issue and did not report it fully in her newspaper?
Dr. Harry Swain explains in detail how BC Hydro can show a profit while losing money. He then describes the “oversight” process involving Site C.
We know the Premier vowed to get Site C dam past the “point of no return” before the May 2017 provincial election. Clark’s Liberals have their own reasons for Site C haste and these eventually will be revealed, perhaps by a postmortem report of an inquiry into the economic destruction of BC Hydro. However, we do know that incautiously pushing a project forward can be costly. Unfortunately, the cost of error will fall not on decision makers but on taxpayers not wealthy enough to hide their income elsewhere.
For eight years now, I’ve been posting words on the Internet. I was influenced in the beginning by my first two grandsons, now pushing 11 years of age. I looked at these youngsters, and the ones that followed, and concluded that I owed a duty to agitate for a better world. I want all children to have best possible opportunities for education and opportunity, to live in a society that is fair and respectful to people and values the environmental riches of our land.
I’m happy to have been involved in this commitment but I hope the May election will be a turning point. It will be a time to decide whether or not the powerful self-interests of privileged people are insurmountable.
In the real world, if a company grew its assets by $18 billion (138%) but reduced its production by 8%, heads would roll. In Premier Clark’s La La Land, party favours roll instead. Good Liberal CEO Jessica McDonald is secure in her job, at least until until May 9.
BC Hydro will lose hundreds of million of dollars per year on Site C dam output, according to a Vancouver Sun article by economist Marvin Shaffer. Facing an installation cost double that of power from utility-scale solar or gas fired turbines, additional hydro-electricity is unneeded and unaffordable. However, in the face of an election, the board of BC Hydro, loaded with Liberal patronage appointees, is not about to correct its faulty course.
BC Liberals released the 2017 Budget and Fiscal Plan. The government elected by promising a “DEBT-FREE BC” forecasts total provincial debt will grow $11 billion to a total of $78 billion in next three years. Under Christy Clark as Premier, provincial debt will have increased $33 billion, which was the total debt accumulated in the 130 years after British Columbia became Canada’s sixth province. That $78 billion does not include the debt portion of contractual obligations, which total $100 billion but are not mentioned anywhere in 149 pages of the Budget and Fiscal Plan. The PR strategy is to never admit these exist or have impact. This is egregious dishonesty.