Cowichan Conversations: CVRD Must Stand Up For Lake Cowichan-Youbou-Honeymoon Bay Residents Facing BC Hydro Ripoff Rate Hikes

The BC Utilities Commission (BCUC) is charged with independently examining issues connected with BC Hydro and making their views and rulings on behalf of the public interest. At least that is what they used Read more…

In-Sights: Careless or captured? (A 2009 repeat)

When you read or listen to resource industry advocates, especially ones masquerading as objective political pundits, compare their concerns in 2009 about burning natural gas to generate peak-demand electricity to their current attitudes toward burning natural gas to liquefy natural gas. The following was first published at Northern Insight on August 4, 2009. Despite deep ...

In-Sights: Misappropriation of public wealth

Readers may tire of reports on BC Hydro but the more I examine this public utility, the more convinced I am that citizens of BC are victims of massive financial deception. In 20 years leading up to 1996, BC Hydro’s average annual revenue from trading in North American electricity markets was $115 million. In three ...

In-Sights: Misappropriation of public wealth

Readers may tire of reports on BC Hydro but the more I examine this public utility, the more convinced I am that citizens of BC are victims of massive financial deception. In 20 years leading up to 1996, BC Hydro’s average annual revenue from trading in North American electricity markets was $115 million. In three ...

In-Sights: Twitter bits

The final item may present a clue to the current state of British Columbia’s energy market. It’s hard to believe we came to this only through the sheer stupidity of our policy makers. Liberals didn't sell BC's publicly owned #BCHydro, they gave it away. https://t.co/i5lzREUAsa#bcpoli pic.twitter.com/ifOSyhSYup — Norm Farrell (@Norm_Farrell) April 15, 2016 .@VaughnPalmer analyzes ...

In-Sights: Twitter bits

The final item may present a clue to the current state of British Columbia’s energy market. It’s hard to believe we came to this only through the sheer stupidity of our policy makers. Liberals didn't sell BC's publicly owned #BCHydro, they gave it away. https://t.co/i5lzREUAsa#bcpoli pic.twitter.com/ifOSyhSYup — Norm Farrell (@Norm_Farrell) April 15, 2016 .@VaughnPalmer analyzes ...

In-Sights: News from the echo chamber

Columnist Vaughn Palmer reports concerns expressed by Moody’s Investors Service about growing BC Hydro debt. The agency stated the obvious, which is that numerous capital projects are adding billions to the public utility’s debt and higher electricity rates or contributions from government are inevitable. Palmer repeats Moody’s judgement that Hydro’s financial metrics “are among the ...

In-Sights: News from the echo chamber

Columnist Vaughn Palmer reports concerns expressed by Moody’s Investors Service about growing BC Hydro debt. The agency stated the obvious, which is that numerous capital projects are adding billions to the public utility’s debt and higher electricity rates or contributions from government are necessary. Palmer repeats Moody’s judgement that Hydro’s financial metrics “are among the ...

In-Sights: Heart of our economy gets ignored

When government is captured by people pursuing fortunes in real estate development and resource exploitation, the interests of all others become secondary. When the bubble bursts, when phantom markets collapse, what remains? Small and medium‑sized enterprises employ about 2/3 of Canadians employed in manufacturing. Yet government programs typically aim benefits at large multinational corporations. An ...

In-Sights: Heart of our economy gets ignored

When government is captured by people pursuing fortunes in real estate development and resource exploitation, the interests of all others become secondary. When the bubble bursts, when phantom markets collapse, what remains? Small and medium‑sized enterprises employ about 2/3 of Canadians employed in manufacturing. Yet government programs typically aim benefits at large multinational corporations. An ...

In-Sights: What’s good for the BC Liberals may not be good for BC Hydro

An article by Dermod Travis of Integrity BC. First published February 15, 2016, repeated here with permission. One of the last things anyone would ever imagine the B.C. government doing is adopting an old NDP program, but that’s exactly what Energy and Mines Minister Bill Bennett did this month when he announced a five-year, $300 ...

In-Sights: What’s good for the BC Liberals may not be good for BC Hydro

An article by Dermod Travis of Integrity BC. First published February 15, 2016, repeated here with permission. One of the last things anyone would ever imagine the B.C. government doing is adopting an old NDP program, but that’s exactly what Energy and Mines Minister Bill Bennett did this month when he announced a five-year, $300 ...

In-Sights: What’s wrong with this picture?

What’s really wrong is that BC Hydro has been spending billions on new capacity but producing less power. Demand has not grown since 2005 but purchases from IPPs rose 108% from 6,444 GWh to 13,377 between FY 2005 and FY 2015. They’re up again in 2016 by about 11%. When there’s too much power and ...

In-Sights: What’s wrong with this picture?

What’s really wrong is that BC Hydro has been spending billions on new capacity but producing less power. Demand has not grown since 2005 but purchases from IPPs, between FY 2005 and FY 2015, rose 108% from 6,444 GWh to 13,377. The purchasing is up again in 2016, by about 11%. The cost of IPP ...

In-Sights: March 23 with Jessop of CFAX1070

The audio file below is a recording of my time on CFAX1070 with Ian Jessop March 23, 2016. We talk of BC Hydro and deceitful government. Your browser does not support this audio

In-Sights: Twenty years ago…

In 1996, BC Hydro was a company with total assets of $12.1 billion, delivering 42,834 GWh of electricity to BC’s residential, commercial and industrial users. Ten years later, BC Hydro had total assets of $12.5 billion and it delivered 50,602 GWh of power to the same customers, an 18% increase in domestic consumption with only ...

In-Sights: Appearance of profit, when there is none

BC Hydro has been announcing profits each year and that enables it to pay a dividend to the province, although it has to borrow the money to make the transfer. I argue here that the profits are questionable. In 2006, the company had $423 million in net deferred costs and intangible assets; the balance at ...

In-Sights: Erik Andersen on BC Hydro debt

This devastating information from Erik Andersen, an economist and widely recognized expert on government and Crown Corporation financing: You will note the unbelievable increase in BC Hydro’s debt since Christy Clark took over, due largely to payoffs to Independent Power Corporations who repay Christy’s kindness with immense political contributions. A case can be made that ...

In-Sights: Takin’ care of business, part x

As consumers, we are told that Canadian retail prices must be set above American because the costs of operation are higher north of the 49th parallel. For that reason, cars manufactured in Ontario have larger price tags in British Columbia than in California. Similarly, Korean cars transported to New Westminster are more expensive than similar ...

In-Sights: Takin’ care of business

#BCHydro buys a GWh of power from IPPs at $91,380 and exports a GWh at $34,920. Save IPPs the bother and the loss. #bcpoli — Norm Farrell (@Norm_Farrell) March 12, 2016 According to BC Hydro’s quarterly report for December 31, 2015, the utility bought 3,719 GWh of power from Independent Power Producers and paid $340 ...

In-Sights: Guaranteed injury to BC taxpayers

BC Hydro is in a quandary. Premier Clark’s Government requires the utility purchase increasing amounts from independent power producers. However, consumers of electricity, particularly residential and commercial users – the only ones who contribute to BC Hydro profits – are not buying more power. That leaves only two options: Produce less power from BC Hydro’s ...

In-Sights: BC Hydro’s primary construction – fabricating falsehoods

Derrick Penner of the Vancouver Sun reported words from the Chief of BC Hydro’s nomenklatura : In December, [Jessica] McDonald heralded Site C as “essential to keeping the lights on…” Fundamentally, (independent power projects) are important partners of ours. It’s only been in the very recent past, but they now account for 25 per cent ...

In-Sights: Today’s session with Ian Jessop, CFAX1070

The audio file below is a recording of my time on CFAX 1070 with Ian Jessop March 02, 2016. We talk of BC Hydro and deceitful government. Your browser does not support this audio 2015, #BCHydro earned 1/5 of Quebec Hydro's operating profits but only after deferring $300 million in expenses. #bcpoli — Norm Farrell ...

In-Sights: Pants on fire

Before the last election, Premier Clark justified BC Hydro rate increases as a “common sense decision” that would enable the private/public utility to pay off the billions in its deferred accounts. “People are struggling, it’s a tough economy, and hydro rates are just one other burden that government puts on people in terms of cost. ...

In-Sights: IPPs paid $672 million above market price in 2015

British Columbia Hydro publishes quarterly reports that provide a long term record of consumption by domestic consumers, which are: Residential Commercial and light industry Heavy industry I’ve been reviewing more than 20 years of those records and they show gradual growth in electrical demand until 2005. Subsequently, there has been no demand growth; in 2015, ...