The Globe and Mail reports this morning that, “After hearings that lasted almost a year, the B.C. Utilities Commission has rejected BC Hydro’s long-term acquisition plan as ‘not in the public interest’…”
“Some analysts say the ruling – which shocked the government and the stock market – indicates B.C. has been over-estimating the amount of power the province needs in order to justify the development of independent power projects (also known as run of river projects).”
“The ruling delivered a quick blow to independent power producers (IPPs), with shares for Plutonic Power Corp. plunging about 24 per cent yesterday, falling $1.00 to $3.08.”
“Dow Jones Newswires said the commission’s decision ‘could put the development of new renewable-power projects in the province on hold.'”
“But Blair Lekstrom, B.C.’s Minister of Energy, Mines and Petroleum Resources, tried to steady the market by saying the government remains committed to pursuing the development of more clean, renewable energy through IPP’s.“
“Lori Winstanley, director of strategic communications and campaigns for COPE, the Canadian Office and Professional Employees Union, said the (236-page) ruling has three key aspects: the rejection of the long-term acquisition plan, a refusal to endorse the clean energy call, and a refusal to allow BC Hydro to downgrade the capacity of Burrard thermal.”
(The COPE media release on the commission’s decision is at http://www.cope378.ca/news/utilities-watchdog-bites-private-power.)
“On the rejection of the overall long-term acquisition plan, Bob Elton (CEO of BC Hydro) said BC Hydro will be back before the utilities commission next year with a revised proposal.”
The full article is at http://www.theglobeandmail.com/news/national/british-columbia/green-premiers-agenda-hits-snag-as-energy-plan-rejected/article1234352/.
Maude Barlow’s Georgia Straight op-ed ‘Run-of-river projects: Not green, not public, not for us’ can be read at http://www.straight.com/article-220116/maude-barlow-runofriver-projects-not-green-not-public-not-us.
To read additional Council of Canadians commentary on run of river projects, please go to http://canadians.org/campaignblog/?p=420.