April 16, 2013

BC Liberal Platform Promises More Misguided Meddling at BC Hydro

Liberal Plan a Recipe for More Hydro Debt, Union Says

BURNABY – The Canadian Office and Professional Employees Union local 378 is calling out the BC Liberal party, for its platform’s policy proposals around BC Hydro.

The Liberal platform, released yesterday, states that if they are re-elected, they would continue costly contracts with independent power producers and even create opportunities for more IPPs.

“Over the last decade under the Liberals we’ve seen ballooning debt at BC Hydro, caused by their repeated political interference,” said MoveUP Vice-President Gwenne Farrell. The public utility’s debt is projected to rise from $14.4 billion in 2012 to $18.8 billion in 2015, including the infamous deferral accounts, brought to light and sharply criticized by outgoing Auditor General John Doyle.

“They’ve pushed our Crown utility into expensive contracts with independent power producers for energy our province doesn’t even need. We’ve been forced to sell this power at a loss and now they’re saying that IPPs should continue and even be expanded. It shows this government is really out of touch with the situation,” added Farrell.

The Liberal platform promises a “debt paydown plan” for BC Hydro “once the core provincial debt is paid down”, which they aren’t promising would happen for over a decade.

“The plan really strains credibility. You can’t pay off the debt at Hydro while you continue to expand the very thing that is causing the debt in the first place,” Farrell continued.

“What we need is a government who will stop the political interference and let BC Hydro restabilize, as well as restoring the independent oversight of the BC Utilities Commission,” Farrell concluded.

-30-

Media contact:

Jarrah Hodge, Communications Representative, 604-790-0487, jhodge@moveuptogether.ca