As managed since 2001 under Premiers Campbell, Clark and Horgan, BC Hydro has been an unqualified disaster. The company has used falsehoods to justify capital spending of about $40 billion during a decade and a half of flat demand. Instead of managing BC Hydro for the benefit of citizens, political officials in BC have directed or assented to disastrous utility policies. This is another case of supervision by policy regulators who do not believe in regulation. To them, private interests are foremost, public interests subordinate.
The way forward is privatization of BC Hydro and creation of a strong, independent, and unassailable regulator that ensures citizens are protected from capitalist profiteering and self-interested financial fraud orchestrated by corporate insiders and politicians.
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