Government dishonest about Hydro ‘dividend’

Re: “B.C. Hydro’s 10-year rates plan is on track,” comment, Aug. 17.

So the B.C. Liberal government is balancing the provincial accounts by requiring our public electric utility to borrow a quarter of a billion dollars to be delivered into said accounts as a “dividend,” according to Energy Minister Bill Bennett. (Interesting term, dividend, as though it’s a share of profits.)

This dishonest practice has to stop. Our government needs to balance its books without trying to trick us. (The Insurance Corp. of B.C. similarly sends hundreds of millions of dollars to Victoria every year for the same reason.)

On top of this, B.C. Hydro will be borrowing $9 billion to build a megadam to accommodate one million imaginary people who will be here in 10 years, again according to Bennett. This is a business plan? I would submit it’s much more likely that, within 10 years, interest rates will go up and household solar panel-battery pack systems will greatly improve, enticing many to leave the grid.

If we need to increase capacity, why is B.C. Hydro paying $55 million a year to the 275 megawatt Island Generation Power Station in Campbell River not to produce power?

I am a former B.C. Liberal supporter and campaigner and have no love for the NDP, but am appalled and disgusted by the profligate mismanagement of this B.C. Liberal government. They have broken my trust. Cynthia Montgomery Maple Bay