Today's update: alleviating concerns that the money spent Site C to date is a waste (it's not); experts say alternative energy sources will compete with fossil fuel plants even with the added cost of battery storage; BC's plan for electricity rate freeze is on shaky ground.
Sunk Costs on Site C Not Wasted
Given that only $562 million has been spent on construction activities on-site as of June 30th, 2017, it seems unlikely that it would cost $1.8 billion to remediate the site. Areas that were cleared within the last year showed vigorous regrowth of trees and vegetation last summer.
Record Cheap Electricity is Transforming World Energy Markets as Canada Struggles to Keep Up
Cost overruns at two Canadian hydroelectric stations now under construction, B.C's controversial Site C and Newfoundland's expensive Muskrat Falls, have drawn attention to an electricity system in transition.
BC Hydro's Awkward Case for Rate Freeze Puts NDP Promise into Jeopardy
Any operational savings will be a pittance, argued Austin, because what really drives Hydro’s rates is the almost $1.8 billion it is spending each year on capital projects, like fixing old transmission lines and generation equipment. That will jump to $2.4 billion a year if the NDP let the Site C dam proceed.