The decision to proceed with the Site C dam was “reckless and irresponsible” and continuing the project will result in a “series of devastating high electricity rate increases” that will lead to job losses and business failures, the former President and CEO of BC Hydro has told the B.C. Utilities Commission in a formal submission.
Marc Eliesen, who was at the helm of BC Hydro from 1992 to 1994, outlined why he believes the only financially responsible course of action is to cancel the $8.8 billion project and remediate the Peace River site in order to minimize Site C’s (Read more…) impact on BC Hydro customers and taxpayers.
“Both the former government and BC Hydro’s Board abdicated their fiduciary responsibility to the rate payers and tax payers of this province,” Eliesen said in his 22-page submission to the BCUC, which is conducting a fast-tracked review of Site C’s finances and construction schedule.
“There never was a business case for the start-up of construction of Site C, and there is not a business case to support its continuation or postponement.”