Harry Swain, having served as chair of the federal-provincial review panel for Site C, is qualified to provide a project analysis. The BC NDP caucus should pay attention because Premier Horgan has mishandled Site C at every step. Doing the right thing now involves Premier and Cabinet admitting to a years long series of blunders. That’s not likely to happen without severe pressure from their enablers…
Dr. Harry Swain speaks
Harry Swain, a former federal deputy minister, was Chair of the federal and provincial Site C Joint Review Panel. He has strong views about the project and about financial reports issued by BC Hydro. On June 8, Dr. Swain appeared on CFAX with Pamela McCall (audio is linked below). In most jurisdiction, the allegation of “accounting chicanery” at a multi-billion dollar crown corporation, made by a highly respected professional, would draw attention of corporate media’s political pundits. However, this is British Columbia and BC Liberals and business friends have put great effort into buying media silence.
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.
GAAP, except when inconvenient
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.
in-sights.ca 
Blair Fix at _Economics from the Top Down_ also wrote two very good papers on the converion of housing into…