In the news today - BC Hydro's LTAP Clean Power Call Cut
The Vancouver Sun reported today, in two separate articles, on BC Hydro's recent decision to reduce its long term acquisition of clean power. You can read about the cause and effect of BC Hydro's decision here and the political and economic consequences for British Columbia here.
Jan 8 Update. The Vancouver Sun followed up today with a full editorial on the subject of BC Hydro's decision to cut the Clean Power Call by 40%.
I continue amazed at BC Hydro's decision to reduce the Call, and apparently, so are a lot of people. All in all, it is shaping up to be a very interesting next few months in British Columbia, with the BCUC decision on BC Hydro's LTAP (revision included) and the upcoming Provincial election, where the power game is most definitely at play. Stay tuned, there is sure to be plenty more to come.
In other news, British Columbia is not alone in its green power pain, as the Calgary Herald recently reported, many renewable energy businesses in other parts of Canada are feeling the pinch of the worldwide economic slowdown. No surprise here: lower oil prices and a tight credit market have proven not to be a friendly combination for renewable energy companies (or for most companies for that matter).
The good news is that the downturn is not expected to last forever. Renewables will once again be in high demand. The current down period may be seen as a due diligence and R&D opportunity to invest in new renewable technolgy, in industries where it is not yet commercially feasible for large scale electricity generation. I'm thinking specifically of solar and ocean power. Because once the economy turns, demand for power will increase, and those who are best situated to supply this new power, will find themselves ahead of the curve.
