Articles

Impact of Massive Hydroelectric Infrastructure Projects on Rates. July 5, 2017.

Occasional paper No. 34 reviews the likely impact of three major hydroelectric infrastructure projects on electricity rates.

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Options for Financing Site C. June 24, 2017

What impact will the Site C project, whether it proceeds or is cancelled, have on BC Hydro's operating budget, and what are the options to pay for it? Occasional Paper No. 33 provides a high-level look at these questions.

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Final Submission on BC Hydro's F17 to F19 Rate Request. June 8, 2017.

Given the pending change in government, I recommended that the BC Utilities Commission not approve any of the discreationary items in BC Hydro's F17 to F19 rate request.

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Manitoba Hydro Planning a Five-Year 46% Rate Increase -- Lessons for BC? June 2, 2017.

In May, Manitoba Hydro requested a rate increase of 7.9% for 2017 and 2018, with an indication of the same increase for the following three years. The publicly owned power utility is facing a major deterioration inits finances due to major capital projects and a flat demand. What lessons may a new government in BC learn from the Manitoba experience?

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Ontario Electricity Rate Suppression Plan. May 27, 2017.

This paper reviews the recent report of the Ontario Financial Accountability Office on that government's plan to use a deferral account to surpress electricity rates. A comparison to the revenue deferral practiced by BC Hydro is also provided.

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Fact Check - Bill Bennett Responds to My Tyee Article. May 4, 2017.

A Fact Check on Hon. Bill Bennett's comments on the Jon McComd (CKNW) show, commenting on rate increases and BC Hydro's debt.

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New Study Recommends Suspension of Site C. April 19, 2017.

On April 19, 2017, the UBC Program on Water Governance released a comphrensive report on the economics of the Site C dam project;http://watergovernance.ca/projects/sitec/

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Cold and Snowy Winter Helps BC Hydro - Hammers ICBC. March 19, 2017.

A review of the financial impacts of the cold and snowy winter on the finances of BC Hydro and ICBC.

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BC Hydro's Aggressive Revenue Tactics. March 15, 2017.

Big banks have been pursuing questionable tactics to enhance revenue and profits, but BC Hydro has a unique way to achieve its revenue targets.

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How Realistic is BC Hydro's 10-Year Plan? March 12, 2017.

This paper suggests that BC Hydro's annual target rate increase of 2.6% is optimistic, as is the 10-year financial plan.

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How BC Hydro Produces Record profits Despite Flat Demand. March 2, 2017.

This paper explores BC Hydro's flat domestic sales and its high profits during the last five years, and suggests that the recording of future ubapproved and unbilled revenue helps explain the healthy bottom line.

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Government Creates Unique Accounting System for BC Hydro. January 30, 2017.

This paper describes how an obscure 2011 cabinet directive allows BC Hydro to apply regulatory accounting without the fundamental componet -- an independent regulator.

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BC Hydro's Growing Pension Liability. January 14, 2017.

Richard McCandless wonders why BC Hydro has a large and growing pension liability; deferral accounting may provide a reason.

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Under-Reported BC Hydro Financial Stories from 2016. January 9, 2017.

Richard McCandless posts Occasional Paper No. 19 on some 2016 stories about BC Hydro's finances that were either under-reported, or recieved no media coverage.

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BC Hydro Quietly Posts Disappointing Q2 Results

My summary of BC Hydro's 2016 Q2 rseults, and a forecast to year-end.

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BC Hydro Defends Recording of Future Unapproved Revenue. 2 December 2016.

Recently, the BC Utilities Commission asked BC Hydro whether its recording of future unapproved revenue conformed to accepted accounting principles. I forwarded BC Hydro's answer, together with my comments, to Auditor General Carol Bellringer.

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BC Hydro GWh Domestic Sales. 29 November 2016.

BC Hydro data on domestic sales 2006/07 to 2015/16 and three year forecast.

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Revenue Recognition -- Fraud and Reporting Risk.

An article by D. Barry Jay Epstein reviewing revenue recognition fraud in the US.

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Does BC Hydro's Rate Smoothing Conform to Accounting Standards? 8 June 2016.

On 8 June 2016 Adrian Dix MLA requested Auditor General Carol Bellringer's opinion as to whether the government-imposed recording of future revenue at BC Hyro conforms to generally accepted accounting principles. 

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The Cost of Surplus IPP Power 6 October 2016

An attempt to estimate the net cost to BC Hydro by purchasing power from independant power producers. 6 October 2016.

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Is BC Hydro Acting More Like a Commercial Power Utility? 15 August 2016

Comparing BC Hydro's finances with other power utilities. 15 August 2016.

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How Much Do Electricity Consumers Owe BC Hydro? 29 July 2016

Deferral accounting assumes that cost over-runs are loans to customers; how much do we owe BC Hydro? 29 July 2016. 

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Excerpts from Rate Suppression and Debt Tranformation 10 November 2016

These are excerpts from 'Rate Suppression and Debt Transformation: The Political Use of BC Hydro, 2008 to 2014,' published by BC Studies, November 2016.

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