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Site C: Fact vs. Fiction

December 10, 2017


SITE C DAM: FACT VS. FICTION

Prepared for: NDP CAUCUS MEETING
Sunday, December 10th, 2017

                                               

(See Premier John Horgan, far right. Photo taken Fall 2012.)


FACT #1      Most, if not all of the senior officials – from BC Hydro, Ministry of Finance,
                  and Ministry of Energy, Mines and Petroleum – advising the NDP Cabinet
                  and Caucus in secret over the last 10 days are the same officials who
                  recommended proceeding with Site C to Premier Christy Clark.


                  FICTION – The NDP Caucus and Cabinet have conducted an open, fair and
                  transparent decision-making process providing outside experts an opportunity
                  to know and respond to the final arguments used to justify completing Site C.
 


FACT # 2   BC is awash in untapped renewable energy potential. BC Hydro places the
                 wind potential of the province at 4 times that of Site C, meeting all of BC’s
                 decarbonization and electrification goals – without even considering solar and
                 geothermal energy. BC also has back-up for intermittent renewables.


                 FICTION – Site C must be built to meet the electrification revolution.
 


FACT # 3   BC’s triple A rating was just confirmed and will not be downgraded by
                 cancelling Site C. BC is already financing the $2.1 billion in sunk costs with
                 30-year bonds at a cost of $ 57 million per year, not $300-400 million per
                 year. Even if the inflated $1.8 billion in termination costs are added,
                 cancelling Site C will save ratepayers at least $266 million/year or $123/
                 household in 2024.


                 FICTION – Cancelling Site C will result in a credit rating down grade, cost
                 $300-400 million /year leaving no money for infrastructure promised by the
                 NDP in their election platform. Completing Site C will not punish future
                 ratepayers.



FACT # 4   Future cost overruns and problems will be owned by the NDP if Site C goes
                 ahead. Many NDP supporters will abandon the party in the next election as
                 the decision-making process on Site C was not open, fair and transparent.


                 FICTION – The NDP have no alternative but to proceed with Site C and it’s
                 the BC Liberals’ fault that this dam must be completed.

 

 

 

 

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