Robert McCullough, energy expert and Principal of McCullough Research, spoke with CFAX's Pamela McCall today about the impending release of BCUC Preliminary Report on Site C.
Listen to his full interview by clicking here.
Highlights:
(0:52) Deloitte Reports critical of BC Hydro
(1:33) Deloitte Report outlined alternatives to Site C that meet environmental concerns and are less expensive than Site C
(2:49) McCullough's expertise led to initiation of the Enron investigations
(4:18) Quebec Premier stated in speech at the Climate Week in NYC: "The day of big dams is now over"
(5:34) What about $1.8b already spent on Site C?
(6:24) The cost of renewables have come down 50% over past 5 years - due to the economies of scale
(10:29) Even if BCUC recommends going ahead with Site C, the economics still don't support it: there would be massive delays, cost overruns and rate increases
(11:47) There was a serious error in process to move forward with Site C
(13:16) Cost to the average household if Site C moves forward: 20% to taxpayers; 80% to ratepayers
(14:28) Experience in other provinces is draconian: the utility in Manitoba is proposing a 50% rate increase for 2 dams and a transmission line being built on similar schedule as Site C. No question largest public investment in BC have a dramatic impact on the bottom line of consumers and tax payers.
(15:45) "It's preposterous. It's incompetent. It's the wrong way to do business. Any corporation wouldn't dream of such a major investment with such a limited review."
(17:30) "How does this stack up with the Enron trading investigations?"