Tag: McCandless.Richard

Opprobrium

The analysis by Richard McCandless would be headline material if corporate media were paying attention to the public interest. Burdens imposed on ratepayers measure in the billions and traditional journalists — including the ones who reported for years on far smaller sums lost to fast ferries — report almost no part of the news.

Liberal amounts of fake accounting

Residents of British Columbia understand financial pain that follows when officeholders subvert public utilities to gain political advantage and reward special interests. BC Liberals aimed to privatize public assets and services. When it could not be achieved overtly, it was done by stealth. After inevitable failures and disasters, legislators concealed them by employing a broad misinformation strategy. BC’s success in duping the public on utility matters encouraged Ontario Liberals to adopt accounting fakery in their own province…

Costing Site C Options

The government’s reckless decision to proceed with the $8.8 billion Site C dam project, without a proven medium term domestic need for the additional power, will seriously weaken BC Hydro’s already poor financial outlook. Possible options to finance the dam must not preclude the fiscal capacity of BC Hydro to reform and restore its existing financial situation, within the context of future affordable rate increases…

Hydro’s deferred costs 20x typical

Citizens should be astonished by Richard McCandless’ statement that BC Hydro’s “net income is almost fully insulated from the vagaries of actual revenue and expenditures.” Indeed, the utility books revenues not received or owing to it and treats incurred expenses as if they are assets.