Companies can start bidding on B.C. Hydro含羞草研究社檚 first callout in 15 years as part of a larger surge to generate more power in B.C., but the province will be importing power again this year amidst concerns about long-term supply.
含羞草研究社淲e are facing a lower snowpack as you have seen and that will trigger imports,含羞草研究社� Chris O含羞草研究社橰iley, B.C.含羞草研究社檚 Hydro president and chief executive officer, said Wednesday (April 3) at the legislature, where he joined Josie Osborne, B.C.含羞草研究社檚 energyminister, in announcing the formal request-for-proposals. 含羞草研究社淭he exact amount (of imports) is actually quite variable含羞草研究社o we will see how that turns out.含羞草研究社�
B.C. Hydro supplies and distributes 95 per cent of power to British Columbians, most of it through hydro-electricity.
含羞草研究社淲e manage the costs of that by spreading them over time and that has been a successful technique,含羞草研究社� O含羞草研究社橰iley said. 含羞草研究社淭hat has helped us manage the impact, so we含羞草研究社檙e not hitting ratepayers with immediate sharp increases.含羞草研究社�
He said B.C. Hydro has been able to keep increases below inflation.
含羞草研究社淭hat is our goal and we will be able to continue that in the coming years, including the effects of the drought.含羞草研究社�
Osborne reiterated this commitment.
含羞草研究社淲e have made it clear to the (commission) not to see a rise in the rates above the cumulative rate of inflation,含羞草研究社� she said.
Requests-for-proposals call for 3,000 gigawatt-hours from independent power producers. B.C. Hydro expects a dozen or so projects totaling between $2.3 and $3.6 billion in capital investments to meet this inaugural goal. Submission deadline is Sept. 16 with B.C. Hydro handing out the first contracts in December 2024. Chosen suppliers must become operational between Oct. 1, 2028 and Oct. 1, 2031.
This call for power comes as forecasts call for a 15 per cent increase in power demand between now and 2030. Factors leading to rising demand include population growth; increased industrial development, including mining; growth in zero-emission vehicles; rising use of fuel pumps in private residences; and more people working from home.
Riley said the inaugural call accounts for about five per cent of B.C. Hydro含羞草研究社檚 current supply, equal to about the power needed to power about 270,000 households.
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B.C. Hydro expects that most of submissions will be for wind and solar projects, rather than run-of-the-river projects, with geography determining their distribution.
Riley expects the next call for power in 2026, subject to need, with future calls to follow, potentially every two years.
The call for power comes as Site C is expected to go online in 2024 with full completion scheduled in 2025. It will add about eight per cent to B.C. Hydro含羞草研究社檚 current supply.
B.C. Hydro also expects to meet demand through energy efficiencies; improved metering allowing consumers with solar panels to sell power back to the grid; optimal time of use rates; and improving existing transmission and generation.
B.C. Hydro is planning to invest $36 billion into what it calls sustaining and extending its system.
Former B.C. Liberal environment minister Barry Penner, who now chairs the Resource Works Energy Futures Initiative, welcomed the expansion, but has also wondered whether it will be enough.
含羞草研究社淏C Hydro has already been a net importer of electricity for 4 of the past 12 years, with 20 per or one-fifth of our electricity coming from outside of the province last year,含羞草研究社� Penner said in January. 含羞草研究社淲e know that Site C alone won含羞草研究社檛 be the answer to all our energy requirements, more electricity generation is required.含羞草研究社�
Electric vehicle targets and proposed shifts away from natural gas for home and commercial heating under Clean BC will have significant impacts on demand, he added. 含羞草研究社淭here are outstanding questions on whether we will be able to reach those targets without becoming unsustainably dependent on electricity imports, a significant portion of which come from fossil fuel generation,含羞草研究社� he said.
He reiterated these concerns about future supplies in late March.
含羞草研究社淚f 90 per cent of vehicles in BC were EVs (electric vehicles) 含羞草研究社� which is the required (percentage) for new vehicle sales by 2030 under the CleanBC climate plan 含羞草研究社� they will need the equivalent of (two) Site C dams of electricity (in normal water years),含羞草研究社� he wrote on social media.
If 90% of vehicles in BC were EVs (electric vehicles) -- which is the required % for new vehicle sales by 2030 under the CleanBC climate plan -- they will need the equivalent of 2 Site C dams of electricity (in normal water years).
含羞草研究社� Barry Penner (@BarryPenner1)
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