Tuesday, October 19, 2021
ADVT 
National

BC Premier gives green light to Site C with a price tag of $16B

Darpan News Desk The Canadian Press, 26 Feb, 2021 07:10 PM
  • BC Premier gives green light to Site C with a price tag of $16B

The cost of British Columbia's Site C hydroelectric dam has grown by $6 billion, bringing the price tag of the megaproject to $16 billion and stretching the completion date to 2025.

The provincial government says the skyrocketing expenses are due to construction setbacks, geotechnical issues, COVID-19 and other cost and schedule pressures.

Premier John Horgan's announcement comes weeks after a former deputy finance minister completed his report on the status of the northeastern B.C. dam and submitted the study for cabinet consideration.

The review was ordered last July after Crown-owned BC Hydro reported concerns about risks and delays, and the province says it has accepted all 17 of Peter Milburn's recommendations, including a strengthened project assurance board.

The government also released a review by two independent experts that found changes to the foundation to address geotechnical issues on the project's right bank will ensure Site C meets safety standards.

The province says terminating Site C now would mean an immediate writedown of about $10 billion, which would result in an average 26 per cent increase in BC Hydro rates over the next 10 years if covered by ratepayers.

It says continuing with the project means the costs will be recovered through rates over the 70-year lifespan of the dam.

Horgan also announced new leadership at BC Hydro as Doug Allen — who has held top positions at the Insurance Corporation of British Columbia and TransLink — replaces Ken Peterson as chairman of the board.

The premier said in December 2017 that the NDP government would reluctantly support completion of the dam across the Peace River just west of Fort St. John, but he would never have started the project commissioned by the previous B.C. Liberal government.

MORE National ARTICLES

Multiple charges laid in $1.8M fraud investigation of Surrey boat dealer

Multiple charges laid in $1.8M fraud investigation of Surrey boat dealer

The investigation included a search warrant executed at the business on August 8, 2019, that resulted in the seizure of multiple boats and documents.

Multiple charges laid in $1.8M fraud investigation of Surrey boat dealer

Who can get a COVID-19 vaccine in Canada?

Who can get a COVID-19 vaccine in Canada?

The province says it is in Phase 1 of its vaccine rollout. Health-care workers on the front lines of the pandemic, staff at long-term care homes, people of "advanced age" and adults in remote or isolated Indigenous communities have priority.

Who can get a COVID-19 vaccine in Canada?

O'Toole spent $3.69 million on leadership bid

O'Toole spent $3.69 million on leadership bid

All leadership candidates for political parties must submit detailed financial returns due six months after the race ends.

O'Toole spent $3.69 million on leadership bid

More must be done on workplace harassment, PM says

More must be done on workplace harassment, PM says

Defence Minister Harjit Sajjan said late Wednesday that McDonald had "voluntarily stepped aside'' while military police investigate unspecified allegations. He is on paid leave.

More must be done on workplace harassment, PM says

500K of AstraZeneca doses arriving by March: PM

500K of AstraZeneca doses arriving by March: PM

Trudeau spoke on Friday hours after Health Canada announced it had approved a COVID-19 vaccine from AstraZeneca.

500K of AstraZeneca doses arriving by March: PM

Horgan to make announcement about Site C dam

Horgan to make announcement about Site C dam

Minister of Energy, Mines and Low Carbon Innovation Bruce Ralston said in early January that he had received Peter Milburn's report and called it "helpful."

Horgan to make announcement about Site C dam

PrevNext