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First BCUC Community Input Session on Site C: BC Hydro Wind Power Price Massively Overstated

This report has been prepared by McCullough Research for the Peace Valley Landowner Association (PVLA) and the Peace Valley Environment Association (PVEA).

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Date: September 23, 2017 To: McCullough Research Clients From: Robert McCullough Subject: Prepared Comments at the BCUC September 23, 2017 Public Session I was the third presenter today following Vernon Ruskin and Rob Botterell to summarize our responses to three of the seventy-three questions posed by the BCUC to British Columbia Hydro. We plan to submit three expert reports to the BCUC this week. Question 16: With regard to BC Hydro’s forecast for LNG load, please provide a more detailed justification for why it considers it appropriate to continue to include each of the three LNG projects (i.e. FortisBC Tilbury LNG Phase 2, Woodfibre LNG and LNG Canada) in its load forecast. Answer: Extensive evidence exists that British Columbia and Oregon will continue to fall behind Cheniere in the race for firm contracts. Cheniere has the largest base of existing export contracts to Asia. Their lead is expanding due to several strategic factors: