Liquid Gold

Liquid Gold
Energy Privatization in British Columbia

By John Calvert  

Secure, reliable, and affordable electricity has been one of British Columbia’s most important competitive advantages and a key contributor to the province’s prosperity. Historically the prices have been based on the actual cost of market, but under recent government policy changes BC Hydro will no longer produce its own energy. Instead it must purchase it from private power developers through expensive long-term energy contracts. Yet despite paying high prices, the customers get no assets, no price protection, and no guarantee of future security of supply. The government’s policy is also causing an environmental nightmare, as dozens of private power plants are being built on pristine rivers regardless of their effects on wildlife, fish and local residents. This book claims that the government is supplanting the successful public system with a deregulated model that will enrich private power developers and undermine British Columbia’s ability to control future energy development.-Abstracts of Public Administration, Development, and Environment 2009

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