Ben Parfitt Site C's Radical, Risky Makeover.
Posted on
The Tyee of September 11, 2020, published Ben Parfitt's commentary on the geological and other risks associated with the current constructon of the Site C dam.
Blog
Zapped -- A Review of IPP Electricity Purchases.
Posted on
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 and the response of Clean Enery BC https://www.cleanenergybc.org/reports-publications/response-to-davidsons-report
Auditor General Bellringer Details Concerns with B.C. Hydro's Deferral Accounting.
Posted on
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.
Rate Suppression and Debt Transformation: The Political Use of BC Hydro, 2008 to 2014.
Posted on
In 2016 BC Studies published my article on how the Liberal government manipulated the finances of BC Hydro to keep the annual profits and dividends high while suppressing the increase in electricity rates: https://ojs.library.ubc.ca/index.php/bcstudies/article/view/187787/186354
Politics, Not Economics, Drives Electricity Pricies in Ontario and BC. January 20, 2018
Posted on
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/
Will NDP End BC Hydro's 'Wild West' Accounting--The Tyee October 24 and 25, 2017.
Posted on
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
Ontario Auditor General Says Deferring Hydro Rate Subsidy Contrary to Accounting Principles. October 18. 2017.
Posted on
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.
How Much Will It Cost to Cover the Liberals' Site C Gambling Debt? July 13, 2017.
Posted on
My article in The Tyee discusses the possible cost to BC Hydro ratepayers of either proceeding or cancelling the Site C project; https://thetyee.ca/Opinion/2017/07/13/How-Much-Will-Site-C-Gambling-Debt-Cost/?utm_source=daily&utm_medium=email&utm_campaign=130717
Final Submission on BC Hydro's F17 to F19 Rate Request. June 8, 2017.
Posted on
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.
Big Rate Increases Coming for BC Hydro and ICBC -- The Tyee. May 2, 2017.
Posted on
My article in the Tyee reviews the implications of the Liberal Party's four year revenue estimates for BC Hydro and ICBC;https://thetyee.ca/Opinion/2017/05/01/Rate-Increases-BC-Hydro-ICBC/?utm_source=daily&utm_medium=email&utm_campaign=020517
New Study Recommends Suspension of Site C. April 19, 2017.
Posted on
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/
How BC Politicized Electricity Rates. March 3, 2017.
Posted on
On March 3, 2017, Policy Options published my article comparing how the governments of Ontario and BC are subsidizing electricity prices: http://policyoptions.irpp.org/magazines/march-2017/how-bc-politicized-electricity-rates/
The 2011 Review of BC Hydro June 2011. February 2, 2017.
Posted on
The senior officials' 2011 review of BC Hydro; http://www.ceaa.gc.ca/050/documents/p63919/97006E.pdf
Why Does Ontario's Electricity Cost So Much? January 9, 2017.
Posted on
A Globe and Mail summary of the supply and pricing system in Ontario; http://www.theglobeandmail.com/news/national/why-does-electricity-cost-so-much-in-ontario/article33453270/
Tribunal Independence: In Quest of a New Model (2014). 12 December 2016.
Posted on
Rowland Harrison's 2014 article on regulatory tribunal independence in Canada from the Energy Regulation Quarterly outlines the key attributes of independnce; http://www.energyregulationquarterly.ca/articles/tribunal-independence-in-quest-of-a-new-model#sthash.NZZpf46M.NvntTDP4.dpbs
The Numbers Game - Non GAAP Measures. 26 September 2016
Posted on
An article from the Globe and Mail on how the growing use of non-standard accounting measures can distort the true financial condition of a company; http://www.theglobeandmail.com/globe-investor/inside-the-market/boost-earnings-manipulate-accounting-investing/article32021010/
Revenue Recognition -- Fraud and Reporting Risk.
Posted on
An article by D. Barry Jay Epstein reviewing revenue recognition fraud in the US.
BC Hydro: From Public Interest to Private Profits. 12 September 2016
Posted on
Norm Farrell's article in The Tyee discusses why BC Hydro's customers face massive rate increases; http://thetyee.ca/Opinion/2016/09/12/BC-Hydro-Public-Interest-Private-Profits/