The Next Liberal Gov Privatization of BC Hydro

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contrarianna
The Next Liberal Gov Privatization of BC Hydro

Under the next Liberal government (likely the next election--now that they and their corporate backer's media FUD have successfully killed off proportional representation) the debt-ridden BC Hydro will likely be sold off with a shrug.  

No consideration of BC Hydro's sorry situation today can exist without placing the blame: 16 years of criminally corrupt corporatist Liberal government which deliberately bled the company to death:

BC Hydro’s real debt has grown 1337% under Liberals…Shouldn’t someone call the cops?
51
Posted March 20, 2017 by Rafe Mair 
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The hard fact is that under the Liberals, BC Hydro’s real debt – including all its obligations – in constant dollars has increased by 1,337%, from $6 billion in 2005 to $80.2 billion today. This total comes from Hydro’s most recent annual report (2016) and is made up by the following three categories:

Regulatory (Deferral) Accounts: $5.9 Billion
Long Term Debt: $18 Billion
Long Term Private Power (IPP) Contracts: $56.3 Billion
....
During this period, Hydro has been borrowing large sums to pay yearly dividends to the Minister of Finance for his annual cooking of the books to make it appear that BC has a balanced budget, a noteworthy piece of fiction in a government noted for fiscal legerdemain....

http://commonsensecanadian.ca/bc-hydro-real-debt-grown-1337-liberals-sho...

Further explanation of the scam in this article:     

BC Hydro – until debt do us part
10/02/2018
by Reimar Kroecher and Eoin Finn

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As a result of rapidly rising debt with no corresponding increases in real assets, equity will go negative. As that point, BC Hydro will be near-worthless and big, private-sector corporations will pounce and buy it for a pittance. Like vultures in a tree, eying a sick animal, they have been licking their chops for years to get their hands on North America’s best hydro facilities. Once privatized, rates will be set by demand and supply. There will be no publicly-minded utility commission. And the people of the province will have lost one of their best assets and control of our electricity rates.

https://commonground.ca/bc-hydro-debt-us-part/