B.C. Hydro is recommending its own controversial Site C project as the best option for ratepayers.
The Crown corporation filed its 866-page submission to the B.C. Utilities Commission, which is reviewing the project, on Thursday.
It said Site C is on track to be completed within its $8.34-billion budget on time. “B.C. Hydro expects to complete Site C on time and on budget, and we have the appropriate level for schedule and cost contingency,” the report said.
The B.C. Hydro report says terminating the project, acquiring alternative generating capacity and remediating the site would cost $7.3 billion.
Mothballing the project, acquiring alternative resources for the period of suspension and then resuming and completing construction would boost the total project cost to $12.9 billion, it says.
There are also “substantial risks” that the project would not be able to resume, after a period of suspension, and would be terminated, it says.
The province asked the utilities commission to do an expedited review of the project’s economic viability on Aug. 3.
A preliminary report is due Sept. 20 and a final report on Nov. 1.
Energy Minister Michelle Mungall did not have any reaction to the numbers or recommendations released by B.C. Hydro.
“I don’t have an opinion, at this stage, on what B.C. Hydro is saying. This is the B.C. Utilities Commission process and it’s their job to review that and determine whether they agree or disagree,” she said.
She said the BCUC review is only one factor the government is considering, alongside First Nation input and environmental concerns, when it comes to Site C.
