BC Hydro wasting water to purchase private power
Utility losing money, costing taxpayers, and enriching for-profit companies.
May 13, 2012: BC Hydro has been letting water spill over its dams to buy private power at twice the market price, reports Rafe Mair of The Common Sense Canadian. Mair takes issue with BC Hydro's ability to receive government grants and raise electricity rates to increase income, gouging taxpayers relentlessly while squandering a precious natural resource and stuffing private pockets.
"This is neither a complicated nor a long story - but it's a tragic vindication for a hell of a lot of people who have been telling the story, ignored at best, more often vilified. Look at page 1 of the story in the Vancouver Sun, May 11 under the heading "Hydro Awash In Private Power", where you'll see that BC Hydro is spilling water over its dams and missing a chance to make a huge profit and is, instead, sustaining a crippling loss all by reason of corrupt bargains it's been forced to make with private companies..."
For the complete story, please click here.
Posted: May 23, 2012
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