Blog

Zapped -- A Review of IPP Electricity Purchases.

On 13 February 2019 the government released a comprehensive review of the purchase of private electricity by B.C. Hydro https://www2.gov.bc.ca/assets/gov/farming-natural-resources-and-industry/electricity-alternative-energy/electricity/bc-hydro-review/bch19-158-ipp_report_february_11_2019.pdf. The review concluded that a) BC Hydro bought too much energy and energy with the wrong profile, b) BC Hydro paid too much for the energy it bought, and c) BC Hydro undertook these actions at the direction of Government.

See also https://vancouversun.com/news/politics/b-c-hydros-private-power-projects-wasting-billions-says-new-report and

https://vancouversun.com/opinion/columnists/vaughn-palmer-ratepayers-zapped-by-hydro-report-that-reveals-shocking-interference

Read More →

Auditor General Bellringer Details Concerns with B.C. Hydro's Deferral Accounting.

In early February Auditor General Bellringer released her report "Rate-Regulated Accounting at B.C. Hydro" (http://www.bcauditor.com/sites/default/files/publications/reports/OAGBC_RRA_RPT.pdf, which provides more explaination for her decision to qualify the government's financial statements for the last two years; see https://vancouversun.com/news/politics/political-directives-have-undermined-b-c-hydros-finances-auditor-general-says. On 7 February 2019 Vaughn Palmer commented on some of the implications at https://vancouversun.com/opinion/columnists/vaughn-palmer-hydros-deferrals-problem-about-to-become-a-political-problem

Read More →

Politics, Not Economics, Drives Electricity Pricies in Ontario and BC. January 20, 2018

Brady Yauch of the Consumer Policy Institute discribes how electricity pricing in Ontario is now determined by politics rather than economics. BC Hydro rates have been set by political decisions since 2012 when the governemt ordered the regulator to approve lower than required rates. https://cpi.probeinternational.org/2017/11/09/its-the-end-of-energy-regulation-in-ontario-as-we-know-it/

Read More →

Will NDP End BC Hydro's 'Wild West' Accounting--The Tyee October 24 and 25, 2017.

The Tyee published my piece which describes the Ontario Auditor General's special report on a government scheme to subsidize electricity rates, and how electricity rates are subsidized in British Columbia; https://thetyee.ca/Opinion/2017/10/24/Will-NDPEnd-BC-Hydro-Wild-West-Accounting/?utm_source=daily&utm_medium=email&utm_campaign=241017 also Andrew MacLeod's comments from Carole James https://thetyee.ca/News/2017/10/25/Fixing-BC-Hydro-Accounting/?utm_source=daily&utm_medium=email&utm_campaign=251017

Read More →

Ontario Auditor General Says Deferring Hydro Rate Subsidy Contrary to Accounting Principles. October 18. 2017.

The use of deferral accounting allows debt to be transformed into and asset, a practice that the BC Lberal government abused with respect to BC Hydro's books. There are there lessons for the new NDP government in the Ontario Auditor General's recent report; http://www.auditor.on.ca/en/content/specialreports/specialreports/FairHydroPlan_en.pdf See media reaction; http://ottawacitizen.com/news/local-news/reevely-hiding-billions-in-hydro-debt-unacceptable-ontarios-auditor-general-says and http://nationalpost.com/pmn/news-pmn/canada-news-pmn/auditor-general-set-to-report-on-ontarios-25-per-cent-hydro-bill-cuts.

Read More →

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.

Read More →

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/

Read More →

Revenue Recognition -- Fraud and Reporting Risk.

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

Read More →