To the editor:
This Powerex and BC Hydro controversy is interesting—a big loss for BC citizens.
Was it not our famous former premier, Mr. Campbell, who wanted so badly to sell our B.C. hydro to the private sector to “balance our books” and to have extra cash to win the next election?
What did we end up with?
We lost $750 million to crooked dealings with other private power corporations in the USA and in California. This was something to do with Enron and the scandal of power deals.
We could have been on the hook for $3.7 billion but got away with only a $750 million loss. A loss like that is equivalent to double that since a loss is money gone out the window—we get no benefit from that.
Next time California cannot pay their power bill, we should just cut off the export of any more power until they pay up. What is BC Hydro getting us into making deals like that?
Now, we are told by BC Hydro that we “must” build Site C dam or we will have to import power. BC Hydro spends $970 million of consumers’ money on smart meters (bought from offshore—China?). Do B.C. residents realize that the cost of the smart meters is directly going to be paid by them and not BC Hydro—any money BC Hydro gets comes from us, the B.C. consumers of power.
The money spent on smart meters could have installed some hot water solar panels on just about every domestic home and business in B.C. Take a good look at Hawaii where every home has solar hot water panels installed due to high electric costs.
Please, ask yourself: What would have become of BC Hydro had Mr. Campbell sold the whole of BC Hydro to the private side? If you think power prices are high now, wait until the private sector gets a hold of it.