Sunday, June 20, 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

Loblaw ready to help COVID-19 vaccine rollout

Loblaw ready to help COVID-19 vaccine rollout

Loblaw president Sarah Davis says the grocery and pharmacy retailer's supply chain is able to deliver vaccines and begin administering the shots the day it receives them.

Loblaw ready to help COVID-19 vaccine rollout

COVID cases tripled among health-care workers

COVID cases tripled among health-care workers

Data shows 44,078 COVID cases reported among Canada's health-care workers from July 23, 2020 to Jan. 15, 2021, bringing the total number to 65,920 since the pandemic began.

COVID cases tripled among health-care workers

Hybrid Parliament saves millions: PBO

Hybrid Parliament saves millions: PBO

The report notes that a decrease in travel also has the effect of reducing greenhouse-gas emissions by about 2,972 metric tons of CO2 equivalent.

Hybrid Parliament saves millions: PBO

Blinken to virtually visit Canada, Mexico Friday

Blinken to virtually visit Canada, Mexico Friday

Blinken will meet with Trudeau, Foreign Affairs Minister Marc Garneau and other members of the federal cabinet, State Department spokesperson Ned Price said in a statement.

Blinken to virtually visit Canada, Mexico Friday

Export, investment to spur B.C. growth: Central 1

Export, investment to spur B.C. growth: Central 1

The Vancouver-based firm predicts growth of 4.2 per cent this year, 4.5 per cent in 2022 and just below three per cent in 2023.

Export, investment to spur B.C. growth: Central 1

2 COVID19 deaths for Wednesday

2 COVID19 deaths for Wednesday

There are 108 new cases of COVID-19 in Vancouver Coastal, 259 new cases in Fraser, 35 in Island, 30 in Interior, 20 in Northern and four new cases of people who reside outside of Canada.

2 COVID19 deaths for Wednesday