FIVE TAKE-AWAYS FROM THE REPORT
The B.C. Utilities Commission released its report into the Site C dam on Wednesday. The previous Liberal government started construction on the dam near Fort St. John in 2015, but the new NDP government has threatened to cancel it. Here are five things to know:
1 The project is over budget
Instead of the proposed $8.335-billion, completion costs may be in excess of $10 billion, and could even come in as high as $12.5 billion.
2 Site C is not on time
The commission said it was “not persuaded” that the late 2024 inservice date could be met, as B.C. Hydro has fallen behind by almost a year because of geotechnical and engineering issues.
3 Pausing the project would cost more than cancelling it
The report found mothballing Site C for several years was “the least attractive option,” costing $3.6 billion, compared to $1.8 billion to scrap construction. Energy Minister Michelle Mungall said Wednesday the government is no longer considering pausing the project as a viable option.
4 Alternative energy projects might be the same cost
The BCUC said small-scale wind and geothermal projects, combined with programs to reduce electricity use and introducing time-of-use pricing (where customers pay more during peak periods) could be cheaper and provide the same power. However, they also come with risks — wind power might not get cheaper, geothermal is unproven and demand reduction initiatives might be unsuccessful — which could make Site C the cheapest option.
5 The fate of the dam won’t be decided by the report alone
Premier John Horgan has said his cabinet will consider other factors, and consult with First Nations, before making a decision by the end of the year.