There’s a government press release on the front page of the Vancouver Sun. Confusingly, it’s refuted by Vaughn Palmer’s column, over the page.
The press release, rewritten by Jonathan Fowlie for the Sun, claims Rich Coleman and Christy Clark are saving you and me from BC Hydro’s plan to raise rates yet again.
The Palmer column gives us the raw unvarnished truth: Clark, Campbell and Coleman have gutted BC Hydro to aid their friends and balance their books. You and I will pay the cost starting whenever this corrupt government is kicked out of office.
You see, yesterday by Cabinet order and with the Premier out of town and incommunicado, the government ordered the supposedly independent BC Utilities Commission to adopt the government rate plan and associated decisions.
The government’s decision effectively killed Utility Commission hearings due to start yesterday.
Because the government doesn’t want ordinary folks poking into the disaster that is BC Hydro under their reign. More to the point they don’t want people to see how they’ve stripped assets and value that will at some point force electricity rates higher, much higher.
Just last week we heard how BC Liberal decisions to prioritize their friends and donors in the private power sector has cost BC Hydro and eventually ratepayers $180 million in just three months. Using their brilliant financial acumen, the BC Liberals have devised a way for British Columbians to pay up to ten times the going rate for electricity by subsidizing private power operators while Hydro’s turbines sit idle.
They’ve made Bernie Madoff look like a piker.
Before that it was the use of deferral accounts to siphon off money while driving BC Hydro’s debt to unsustainable levels.
Billions have gone out the door to help balance the books and pay off friends for power that wasn’t required. That’s not even to mention the billion dollars they forced BC Hydro to spend installing smart meters.
Now BC Hydro is stuck with debts and infrastructure demands that will take at least a decade to clean up.
And they say they and only they know how to run a business? Maybe if your model is Al Capone.
You’d think with the Fowlie story this was a new issue, but Bruce Ralston and John Horgan have been raising this disaster in the making for years. You can start here and work backwards if you’re interested.