Province Sets Up Panel to Review B.C. Hydro
By 250 News
Victoria, B.C.- The most recent planned hike in Hydro rates was put on hold after the Minister of Energy and Mines, Rich Coleman said he wanted to have a closer look at B.C. Hydro. Today, the Provincial Government announced it has set up a special panel that will review BC Hydro and come up with options to reduce the impact of increased hydro rates.
"Our goal is to find the right balance between investing in our hydro system, while keeping rates as low as possible for B.C. families - and this review will help us do just that" says Coleman.
The panel members are:
- deputy minister to the premier, John Dyble
- deputy minister of finance, Peter Milburn
- associate deputy minister of the environmental assessment office, Cheryl Wenezenki-Yolland
They will look at BC Hydro's financial performance, including operating and capital requirements, reliability of forecasting systems, administrative expenses, procurement processes, cost-containment strategies and opportunities for savings. The panel will also consider rate structures, corporate structures and business planning.
They are also free to examine any other matters that may arise over the course of the review.
The panel will report back to the Premier and Minister of Energy and Mines by the end of June 2011.
The government review does not replace the normal, more-detailed rate increase examination conducted by the BCUC, which will resume after government's review.
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