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Site C Now Most Expensive Dam in Canadian History - Cancellation Cost is Trumped Up

MARCH 1, 2021 - VANCOUVER, BC – Today, PVLA released the report, “Reassessment of Site C Financial Viability” by Robert McCullough, a highly respected economist and expert on power projects. This report, following the recent release of Peter Milburn’s findings, updates McCullough’s October 2020 analysis of Site C cost estimates and financial viability. PVLA President Ken Boon: “The Peter Milburn Report confirmed what we have suspected since Premier Horgan green lighted this project in 2017 - Site C is a case study in failed project management and financial oversight.” “Robert McCullough’s new report outlines the flawed economic calculus and impending huge cost to BC ratepayers (you and me) of completing the Site C dam.” “We urge the BC government to direct the BC Utilities Commission to make an expedited, unfettered review, with full procedural safeguards, of

  • the estimated $10.2 billion cost to terminate Site C, and

  • repayment options, with a view to minimizing the impact on BC ratepayers.

Only then, can British Columbians be assured that there is no alternative but to saddle future generations with the most expensive power in North America.”

McCullough’s updated report highlights:

  • The most expensive single dam in Canadian history [Report Page 1]