Following up on an earlier blog post, today, the British Columbia Utilities Commission approved BC Hydro's request to purchase a 1/3 interest of the Waneta Dam from Teck Metals Ltd., calling it "in the public interest". See the attached order from the BCUC.
The BCUC also determined that BC Hydro's consultations with First Nations with respect to the Waneta Transaction were adequate and upheld the honour of the Crown. The BCUC's reasons for the decision will be released at a later date.
When the transaction closes, the Waneta Dam, located in Trail, BC, will provide BC Hydro with access to 167MW of firm capacity and 890 GWh/year of energy. Adding the interest in the Waneta Dam will also help the Province meet its electricity self-sufficiency objectives.