Plenty of benefits to new Hydro investments

We need to ensure we have a diverse grid that can provide reliable power today, says B.C. energy minister

Re: Get ready for Hydro rate hikes (B.C. Views, July 10).

While NDP energy critic John Horgan asserts there is no business case for a nation building project like the Northwest Transmission Line, a line that will bring power to a huge part of the province currently running off diesel generators, our government believes investments such as this are exactly what B.C. Hydro should be doing.

This project will open up world-class mineral deposits and support new mines, like Red Chris, one of the top 10 copper-gold deposits in the world.

In fact, the Mining Association of B.C. estimates the line could attract more than $15 billion in mining investment, creating up to 10,000 jobs and generating $300 million in annual tax revenues. None of this happens unless we build the line to provide the power these mines need.

We need to ensure we have a diverse grid that can provide reliable power today, and into the future. That’s why we continue to support new, cleaner sources of power such as wind and run of river. Do these sources produce power at a higher cost than what our heritage assets do? Of course they do.

Like most other things, it costs more today to produce power than it did decades ago. But these sources are cleaner than alternatives such as coal or gas and less expensive than building brand new hydroelectric dams.

We are investing in projects that are powering our needs today and ensuring we will have the power we need for our future. The unprecedented opportunity in liquefied natural gas and other growing sectors such as mining must be supported with stable, secure power. This is what we are building.

You can’t make these kinds of legacy investments that will benefit all British Columbians without putting pressure on rates. Contrary to some reports, B.C. Hydro is managing its capital projects within its planned budget. There are a couple of projects over budget but most are under budget.

I have been very clear that my mandate, as given to me by the premier, is to minimize rate increases while continuing to make historic investments in Hydro’s infrastructure to grow our economy. I am committed to accomplishing this goal.

Bill Bennett, Minister of Energy and Mines

 

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Meet Arthur Heart, Oak Bay Avenue’s resident stickman

Contest winner dubs stickman Art Heart

Victoria council keeps its catered lunches at more than $10,000 per year

Two councillors tried to eliminate the expense, with widespread rejection

All Carlton Cards stores closing in the coming weeks

Schurman Retail Group stores across North America will close, including 79 in Canada

UPDATED: 12 Wet’suwet’en supporters arrested by VicPD

Protesters rallied against Coastal GasLink pipeline

Four things ‘not’ to do if you run into Prince Harry and Meghan in B.C.

Here is a list of some things you definitely should NOT do, according to the BBC

Greater Victoria Crime Stoppers wanted list for the week of Jan. 21

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

B.C. RCMP spent roughly $750K on massive manhunt for Port Alberni men

Manitoba RCMP helped with 17-day search through the province’s northern terrain

Island Bakery in Cobble Hill to close

Cobble Hill store in business since 1982

Man killed by police in Lytton called 911, asking to be shot: RCMP

Howard Schantz, also known as Barry Schantz was killed following a standoff at his Lytton home

Canadian public health agencies ramping up preparations in response to new virus

Health officials have said there are no confirmed cases of the emerging coronavirus in Canada

‘Naughty boy’: Monty Python star Terry Jones dies at 77

The comedian has been suffering from a rare form of dementia

Most Read