On November 1st, 2017 the BC Utilities Commission issued its final report to the Government on the Site C Inquiry, which is available for download from the Inquiry website.
In response to the Provincial Government Order in Council (OIC) the Commission was instructed to report on the implications of three scenarios: continuing, terminating, or suspending the construction of site C.
The key conclusions of the report are:
- Suspension would result in the highest cost to ratepayers.
- The construction of Site C is not within the proposed $8.335 billion budget and may exceed $10 billion.
- BC Hydro’s mid-level load forecast was found to be overly optimistic and low-carbon electrification was dismissed as a load increase factor.
- Site C’s flexible dispatchability has limited financial value.
- BC Hydro’s evidence of portfolio analysis was not considered transparent and instead, the Commission created an ‘Illustrative Alternative Portfolio’ comprising demand side management, wind and geothermal.
- In certain circumstances the Illustrative Alternative Portfolio could be cheaper for ratepayers however if a higher load forecast materializes, the cost to ratepayers could be higher.