From Rob Shaw's latest in the VSun, in which a proMedia Club member is finally forced to start playing catch-up to Norm Farrell:
...BC Hydro) owes around $852 million to the government over the next three fiscal years in mandatory annual dividend payments. But it doesn’t have the cash, and so it will have to borrow the funds, said Energy Minister Bill Bennett.
The contentious practice sees the monopoly energy company borrow money — which ratepayers will have to pay back in the future — so that it can meet government’s annual demand for a share of its profits.
Bennett has admitted the practice is unsustainable, and will begin to be reduced by $100 million a year in 2018 until it is eliminated.
“If we could have afforded to have started to reduce the dividend by $100 million a year sooner, it would have been great,” Bennett said Monday.
“But we couldn’t. We’re on a fiscal plan and we want to balance the budget every year and we just couldn’t afford to do it before we did.”...
Subheader about grocery bills and budgets and all that that ignore the bullshit entirely?...Why, the Dean, of course.