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FP says Atco, others hear BC Liberals' dam a boondoggle

2021-01-06 06:44 ET - In the News

See In the News (C-ACO) Atco Ltd

The Financial Post reports in its Wednesday edition that if you are looking for an example of green and clean energy policy in action, check out British Columbia's $10-billion hydro dam project. The Post's Terence Corcoran writes that officially described as the "Site C Clean Energy Project" by its developer, BC Hydro, and the small-c conservative government of the previous BC Liberals, the project on the Peace River is a little messy and unstable at the moment, so watch your footing, and your wallet. Under foot, according to NDP Premier John Horgan, who campaigned against the previous government's project, "There is instability on one of the banks of the river." Early last year BC Hydro identified "structural weaknesses" in the project, which has been under construction since 2015. The precariousness of the project, structurally and financially, continues to beg the question: Should Site C be killed and the $6-billion already sunk into it be abandoned? Yes, says a new paper. In a review of the economics of the Site C hydroelectric project, three Canadian university economists conclude that the whole project is uneconomic as an energy source and fails its major green and clean promise to reduce carbon emissions.

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