Articles

Have the NDP Succumbed to the Siren's Call of Deferral Accounting? November 27, 2017.

The current government's plan to freeze BC Hydro rates is the latest example of how governments have succumbed to the alure of short-term gain by manipulating BC Hydro's finances. Occasional Paper No. 46 traces the key events since 2011. 

Read More →

Submission to the BCUC Opposing the BC Hydro Rate Freeze. November 20, 2017

Can the BCUC approve BC Hydro's request to withdraw the 3% rate increase for 1 April 2018? I argue that it should not approve the request.

Read More →

Further Observations on the Hydro Rate Freeze. November 12, 2017.

As a follow-up to Occasional Paper No. 45, this paper looks more deeply at the question of affordability in the pricing of BC Hydro's electricity.

Read More →

Government Freezes BC Hydro Rates for 2018. November 9, 2017.

This paper discusses some aspects of the new plan to freeze BC Hydro rates for 2018.

Read More →

BC Auditor General Finds BC Hydro's 'Prescribed' Accounting Unacceptable. October 26, 2017.

The Auditor General has added a new reason to qualify her opinion of the government's 2016/17 financial statements; the fact that the 'prescribed' accounting standards do not conform to the public sector accounting standards. Read more in Occasional Paper No. 44.

Read More →

What Would Ontario's Auditor General Make Of BC Hydro's 'Prescribed' Accounting Standard? October 22, 2017.

In a special report the Ontario Auditor General severely criticised that government's new regulatory deferal scheme; what would she make of the accounting practiced at BC Hydro to surpress the true cost of electricity?

Read More →

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.

Read More →

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.

Read More →

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?

Read More →

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.

Read More →

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.

Read More →

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.

Read More →

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.

Read More →

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.

Read More →

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.

Read More →

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.

Read More →

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.

Read More →

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.

Read More →

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. 

Read More →