BC Hydro paid 672 million above market price for private power in 2015

[2xeagle16]

The owners of IPP's (Independent Power Projects) were paid $1.217 billion in 2015 for private power that could have been bought for $545 million from Washington State. BC Hydro has contracts up to 40 years with IPP's - the taxpayers of BC will get screwed every year, for many years to come!

http://northerninsights.blogspot.ca/2016/02/ipp-paid-672-million-over-market-in-2015.html

 

[terrin]

Not quite sure why they call it IPP's because it sounds more like socialist venture for big business backed by the taxpayer. Where is the risk for their reward if the get guaranteed rates higher than market price? No wonder under this Christy Clarke govt. our Hydro rates are going thru the roof. Can't wait to see how the LNG deals will be done giving our gas away and the taxpayer paying to let the do it. Must be why they are rushing site C so they can kick in free Hydro to Petronas etc. Sure glad Natural Gas is so plentiful around the world and the price low hopefully save us from another kick in the wallet.

 

[bigdogeh]

corporate socialist venture....
a give-a-way from the taxpayers to christies liberal buddies. the sooner she and her party are gone the better for our province. unbelievable the damage they've done that we have to pay for and will continue to pay for for generations thanks to them being in power.