BC Hydro is the utility that keeps the lights on in B.C. and generally it does a fine job of restoring wind-toppled power lines and firing up our smart phones and flat screens.
What isn’t going so well for the Crown corporation are its finances, which Energy Minister Michelle Mungall calls a “mess” and project finance expert Eoin Finn says are in the worst shape of any other public or private utility in North America.
Yet the NDP government has retained most of BC Hydro’s board of directors appointed by the previous BC Liberal administration — board members who (Read more…) responsible for fiduciary oversight while the mess was gathering momentum — which raises troubling questions about the government’s readiness to fix problems at the deeply indebted utility.