Friday, February 26, 2016

This Day In Clarkland... BC Hydro Eviscerated.


Norm Farrell's charts, based on Hydro's own publicly available data, are golden and you should go look at them all to get a full measure of the crystal clear story that they tell.

But I feel compelled to wurlitzer Norm's wordsmithed money shot, for the record (that won't show up in the Lotuslandian proMedia prints until they are shamed into putting it there):

"...I suspect that BC Hydro will be studied in business schools some day. Professors will be trying to explain how senior utility company executives, overseen by an entire provincial government bureaucracy, expected to survive by buying power at a rate 65% more than the rate charged a large class of electricity consumers. They will also try to understand why BC Hydro decided to spend billions of borrowed dollars to add capacity when no more was needed, except by export customers only willing to pay a fraction of the cost of power.

I doubt there will be many executives or Liberal politicians left to explain. They'll be sunning themselves on the Mediterranean..."

Club Med, indeed.

And, in other news.....This.



Hugh said...

Years ago the BC govt fell for the con line about hydro demand in BC going up by 40%, which didn't happen. That was around the time (2001) they sold off a big part of BC Hydro to Accenture.

BC Hydro has been hijacked.

Hugh said...

RossK said...



And CEO, and former card carrying member of GordCo Inc., Jessica McDonald says...This.