BOC News Release Re: BCUC Final Report Addresses Real Costs of Site C

 

News Release

BCUC Final Report Addresses Real Costs of Site C

Vancouver BC, November 2, 2017 – Peter Holt, Advocacy Team Chair for the Board of Change issued this statement following yesterday’s release of the Final Report to the Government of British Columbia by the British Columbia Utilities Commission (BCUC) in follow-up to its Site C Inquiry preliminary report released on Sept 21, 2017.

“The Board of Change commends BCUC’s work to complete this important review of the Site C project in such a short time and welcomes the full disclosure of the real costs that is the result of a full independent review of the project”

With only two options now considered viable, the new BC Government is in the unenviable position of reviewing a project where $3.9 billion is the minimum cost of cancellation and the cost of completion is estimated at $10 billion or more. Completion also comes with the very real prospect of producing power that will greatly exceed BC’s needs and at cost that means it will have to be sold on the US spot market at a loss.

 

The Board of Change continues to advocate that the Site C project be cancelled. The Board recommends cancellation not only to save future construction costs and the burden of a 70 year plus financing term but also to reinvigorate BC’s renewable energy sector. This previously vibrant sector of BC’s economy suffered greatly from the decision to build the dam. Given that renewable energy production is now competitive with, and likely even cheaper than energy from Site C, and given that it produces many more long-term jobs per unit of energy produced, the BC economy would experience a net gain as a result of its revival.

 

We understand the dilemma that the Government has inherited from its predecessor and encourage them to recognize the fundamental flaws in proceeding with Site C and encourage them to put their faith in the role that BC’s clean energy industry can play in generating jobs and viable alternative sources of power for all British Columbians

 

Contact:

Peter Holt

604.218.8997

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The Board of Change is an inclusive business network fostering an economic model that values the pursuit of sustainability equally with the pursuit of profit. We believe strongly in the role of profitable business in society and also believe that business has an equal responsibility for social and environmental stewardship. Indeed, this may be the greatest responsibility of business.

 

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