Another Update: Clean Power Call - BC Hydro "Clarification" Letter
BC Hydro released a letter today which was filed with the BC Utilities Commission in connection with its 2008 Long Term Acquisition Plan (LTAP) and its recent evidentiary update with respect to target volume for the Clean Power Call. You can read a copy of BC Hydro's January 12, 2009 letter here and check out the BC Hydro Clean Power Call website here.
January 15 Update: The Globe and Mail reported today on BC Hydro's recent LTAP clarification letter. In the article, BC Hydro CEO Bob Elton confirmed BC Hydro's support for purchasing green power from independent power producers at cost-effective prices. For now, it appears the proposed cut to the size of the Clean Power Call from 5,000 GWh/year to 3,000 GWh/year has been scuttled, at least in public documents it has. How much green power BC Hydro decides to purchase from the Clean Power Call remains to be seen - results from the Clean Power Call RFP are expected in the late Spring.
This is a very interesting olive branch letter; one that clearly reinforces the challenges BC Hydro faces in forecasting the Province's future power requirements in the current economic environment, while at the same time also supports renewable power and independent power producers in the Province. The low carbon economy is coming to British Columbia and what that means to the Province's electricity requirements is yet to be seen. There is no doubt that opportunities abound for clean power generation in British Columbia, and if the price is right, BC Hydro will be buying.
I wonder what happened over the past few weeks between the Crown and her power corporation....
BCUC is sleep at the wheels.
BC Hydro generates power from the Shrum, Revelstoke, Mica dams at $6 / MWh, all costs included. Then it sells it for $70 to the public.
Where does the $64 / Mwh profit margin (a monstrous margin of 1066%) go?
Why do BC Hydro salaries average to $108,000 ($98,000 without benefits).
Why are dividend transfers by BC Hydro to the province only 1/3 of what IPPs pay in taxes and benefits to the government?
Is BCUC going to rubber stamp BC Hydro's self-assigned costs?