Billions lost – bad luck, incompetence or fraud?
19 years ago, the BC Liberals authorized private power projects on BC rivers and required BC Hydro to purchase the electricity they produced — often at two to four times above fair market price. The deal has cost BC Hydro at least $14 billion dollars so far, and could cost another $40 billion. In this time of pandemic, we see how badly government needs funds for programs that help everyone in the community. Instead, the Liberals gave their backers a sweetheart deal, putting money into their pockets instead of the public purse. The extra electricity hasn’t been needed, and its forced purchase by BC Hydro has pushed up power rates for the rest of us. Read more about it in Norm Farrell’s article at https://in-sights.ca/2020/05/12/billions-lost-bad-luck-incompetence-or-fraud/