Wednesday, October 19, 2011

Redistributing wealth to pals and insiders

Private Power by the Numbers: Hugely Overpriced IPP's Mean Soaring Hydro Bills
Gwen Johansson, The Common Sense Canadian, Originally published in the Alaska Highway News
"...Besides having to acquire more electricity than needed, Hydro is also required to buy that electricity from private independent power producers (IPP’s) operating in BC. Hydro could buy it cheaper on the open market both now and in the foreseeable future.

"Purchases are classified as non-firm, meaning electricity that isn’t available all the time such as wind or run-of-river; and firm, meaning electricity that’s always available.

"Bids from IPP’s to supply electricity to BC Hydro recently came in at an average of $100 per megawatt hour for non-firm and $124 for firm. Recent spot market prices ranged from a low of $4.34 for non-firm to a high of $52.43 for firm. Firm power with delivery in 2012 was recently listed at $27-35 on the Pacific Northwest wholesale market. The further into the future you go, the less reliable the price predictions. Keeping that in mind, the 2030 price is suggested to be in the range of $81-85 per megawatt hour. So relying on the best information available, it seems BC Hydro is being forced to pay artificially high prices for electricity.

"Buying high and selling low doesn’t work for long. So who will pick up the shortfall between what Hydro is paying and what it can sell the electricity for?

"Well, that would be you, BC Hydro customers..."
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1 comment:

  1. Good on you Norm good to have you back (I'm on the verge of a return also).

    Good to see you are pointing out what Peter Dimitrov, Eloise, John Calvert, one business reporter for the Sun and myself have been trying to point out for YEARS - that the fiscal geniuses in the Campbell Crime family have been forcing BC Hydro to buy high and sell low with the Rape of the River scam. Without even getting into the environmental devastation these projects create, they would be a non-starter for any person on a purely economic basis. It only works for them because even though it costs most of us billions, some of that STOLEN money winds up in the "right" pockets, of friends of the crooks.

    At least we seem to have managed to run AXOR and their absurd Glacier/Howser nightmare out of the Kootenays back to Quebec and New York. Maybe they can get involved with the frackers back there and destroy the watershed that provides potable water to the crooks on Wall Street!

    It really looks like we've blown that project out of the water - pun intended.

    ReplyDelete

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