Just and Reasonable

Promoting good governance in BC's energy sector


News archive

Below are the news items from previous newsletters, from newest to oldest.

2024 11 20

The BC government appointed a new minister of energy, Adrian Dix, as part of a reorganization following the recent provincial election. The ministry is no longer responsible for mining (now in a separate ministry), but is now responsible for climate solutions, formerly under the environment ministry.

The BCUC issued a highly redacted order approving something for Wyse Meter Solutions Inc. under section 53 of the Utilities Commission Act (consolidations, amalgamations and mergers). The decision did not reveal whether it was approving a consolidation, an amalgamation or a merger.

The US Energy Information Agency reports that natural gas prices in the Pacific Northwest reached record lows in October, caused in part by “robust” production in Western Canada.

2024 11 12

The BC Utilities Commission (BCUC) issued its decision on which of BC’s two largest electricity utilities should play the Planning Coordinator role for the bulk electricity system in the province under the North America-wide Mandatory Reliability Standards program. Despite reservations about the effect on reliability, the BCUC directed that they will share the role.

An analysis by the Energy Institute at Haas concludes that time-of-use rates can induce “sizeable reductions” in peak period demand for electricity.

The International Energy Agency published its 2024 Energy Efficiency report. Global energy efficiency progress is set to see only “weak improvement” of 1 percent in 2024, the same rate as 2023.

Efficiency Canada released a report highlighting how Canada’s energy efficiency programs could be more effective if natural gas and electricity were not treated as separate “fuel silos”.

The Canadian government announced draft regulations to limit greenhouse gas emissions from the nation’s oil and gas production. The intent is to create a “cap and trade” system, with emissions capped at 35 percent below 2019 levels. Final regulations will be published next year.

The US Energy Information Administration forecasts that generation from US hydropower plants in 2024 will be 13 percent lower than than the 10-year average, largely due to droughts, especially in the Pacific Northwest.

The BCUC ordered Creative Energy to provide more information before it would review the utility’s application for thermal energy rates for the Butterfly property development in Vancouver. Among other issues, the proposed terms of service are for delivery of steam, while the service actually delivers hot water.

2024 11 01

The BCUC rescinded a 2023 order that BC Hydro file a long-term resource plan for its non-integrated areas. This was the latest in a series of reconsideration requests filed by the utility since the new chair was appointed last September, all of which have been approved.

The BCUC approved a request from BC Hydro to spend $379 million upgrading the Ladore dam on Vancouver Island. The work will address safety deficiencies that could lead to failure of the dam in an earthquake.

The BCUC approved BC Hydro’s proposed “expedited review framework” for pilot projects for its public electric vehicle (EV) charging network. The cost of the pilot projects is included in the utility’s previously-approved $6.5 million 10-year EV marketing budget. Prompted by a letter of letter of comment comment submitted in the proceeding, BC Hydro agreed to expand the amount of information it
makes public when applying for each pilot project.

BC Hydro announced that the first of six generators at its new Site C dam has started producing electricity. Construction started in 2015, and was scheduled to be fully complete by 2024, at a cost of $8.335 billion. The final generators are now expected to be in service by the fall of 2025, at a total cost of $16 billion.

The BCUC approved the revenue requirements for Creative Energy’s thermal energy system in downtown Vancouver. The BCUC denied the utility’s request to add $1.5 million of the cost of its remote metering project to its rate base because it declined to provide the requested supporting information. This information has apparently been requested in two separate proceedings.

On October 21, 2024, the City of North Vancouver approved new fixed charges for Lonsdale Energy Corporation, which provides thermal energy to buildings in the municipality. In addition to an increase of 3.3 percent for inflation, its capacity charge increased a further 3.9 percent to cover the cost of running new electric boilers to replace heating from natural gas. According to City staff, “Energy delivered from low-carbon energy sources is more expensive to construct and operate.”

CBC reports that drilling for oil in Western Canada rose in response to the opening of the Trans Mountain Pipeline extension this year. Drilling for gas is anticipated to increase when LNG Canada’s facility starts operation in mid 2025.

2024 10 22

The BCUC approved rates for a Creative Energy thermal energy system in Mount Pleasant, Vancouver. The BCUC denied recovery of depreciation expense for assets not in service at the beginning of the year, and recovery of income tax expense because the public utility is a partnership that does not pay income tax.

Google is reported to have signed a deal to acquire up to 500 MW of electricity for its data centres from new small modular nuclear reactors as early as 2030.

Amazon is reported to have signed agreements to support the development and deployment of small modular nuclear reactors in the US, including 320 MW of electricity generation by the early 2030s.

A report by Clean Energy Canada reported that barriers to entry for clean technologies such as electric vehicles (EV) and heat pumps are higher than a year ago thanks to reduced government subsidies and more expensive EVs.

The International Energy Agency issued its 2024 World Energy Outlook. The Agency believes that growth in global energy demand after 2030 can be met solely by clean energy. Until then, the growth will continue to be met by fossil fuels, as it was in 2023.

2024 10 14

BC Hydro has received 21 proposals from independent power producers in response to its April 2024 call for power. This represents the potential for more than 9,000 GWh per year, three times the utility’s target. Projects could start coming online as soon as fall 2028.

The BCUC issued its decision resolving a complaint filed against Cambie Gardens Energy Limited Partnership (CGE) by the City of Vancouver and SUCCESS Affordable Housing. The BCUC declined to rescind CGE’s exemption from rate regulation, and directed it to continue to negotiate rates with the complainants. The reasons for the decision were not published as the BCUC determined that they were confidential.

The BCUC rejected an application from Creative Energy for rates for a new low carbon service due to it being “materially deficient in information.” Creative Energy had been directed to file this application by June 30, 2023, and had requested and been given five extensions by the BCUC, the last one being to August 23, 2024.

Business in Vancouver reports that the $2 billion hydrogen plant announced by Fortescue Ltd., an Australian company, in September 2023 will no longer proceed.

The International Energy Agency released its Renewables 2024 report. It anticipates global renewable capacity will grow by 2.7 times from 2022 to 2030, short of the goal of 3 times established at the COP28 climate summit. 60 percent of the global expansion is accounted for by China.

2024 09 16

FortisBC announced it is seeking to acquire up to 1,100 gigawatt hours of electricity as soon as 2030. The utility is looking for lower-carbon and renewable energy projects of 5 megawatts or greater to supply its demand in the south interior region of BC.

The BCUC accepted an energy supply agreement submitted by FortisBC Energy Inc., but the supplier’s name and product were redacted from the acceptance order. Intriguing.

2024 09 10

The BCUC approved FortisBC’s request to build a new substation in Fruitvale, BC. The $19 million project replaces two aging substations in the area.

The BC government announced that its “electric highway” of public electric vehicle fast charging stations will be complete before the end of September. Spanning the entirety of the province, charging stations are located along all highways and major roadways located approximately 150 kms apart.

A survey conducted on behalf of the Energy Futures Institute finds that BC residents are strongly supportive of expanding renewable sources of energy, and also support reviewing restrictions on building new hydroelectric dams or nuclear power.

FortisBC announced a pilot program in Kelowna, BC to reduce gas demand. Participating customers will be asked to reduce consumption at certain peak times, and may receive incentives of up to $100 for being part of the program.

2024 09 04

The BC Utilities Commission (BCUC) exempted from active regulation those public utilities that are wholly owned and wholly operated by local governments and operate within their municipal boundaries. This is consistent with the Utilities Commission Act which entirely excludes such local governments from BCUC regulation. There is no word yet on stage 2 of the proceeding, which was adjourned pending the issuance of this exemption.

The BCUC approved BC Hydro’s request to spend $200.4 million upgrading ancillary equipment associated with four of Mica dam’s six generating units. In total, the Mica dam facility accounts for some 25 percent of BC Hydro’s generating capacity.

The BCUC approved BC Hydro’s request to increase its major project thresholds, below which the utility need not obtain a Certificate of Public Convenience and Necessity (CPCN) from the BCUC. BC Hydro can now proceed with power systems investments of up to $250 million without the scrutiny of a CPCN proceeding, a 150 percent increase over the former thresholds.

The BC Minister of Energy exempted BC Hydro from the need for BCUC approval for six projects to add or upgrade substations in the Greater Vancouver area. The exemption order provides no reason for exempting the projects from the need for a CPCN, and no estimate of the cost of the projects that are now exempt from BCUC scrutiny.

The BCUC approved a purchase agreement for BC Hydro to buy electricity from Atlantic Power’s Moresby Lake hydroelectric generating facility until 2043. The cost of the electricity remains confidential but BC Hydro claims it is less than its avoided cost of diesel generation, which is also confidential. The BCUC issued no reasons for the decision, which was unopposed.

The BCUC approved BC Hydro’s request to expand the scope of three regulatory deferral accounts, which now include such items as routine weather-related maintenance. The BCUC provided no reasons for the decision, and did not invite intervention by public interest groups in the proceeding.

FortisBC Energy Inc. announced it has signed a funding agreement with VulcanX Energy Corp. to develop zero-emission hydrogen and solid carbon from natural gas.

The BCUC summarily dismissed two requests from interveners (RCIA and BCSEA) to reconsider cuts to their BCUC funding for participating in the recent BC Hydro Integrated Resource Plan proceeding.

2024 08 06

The BC Utilities Commission (BCUC) approved Emanate Energy Solutions Inc. increasing its percentage of voting shares in the public utilities in the Creative Energy Group, but directed it to make further filings should the percentage increase further.

The BCUC approved rates and terms of service for CB PowerLine Ltd., the public utility providing electricity to community of Cosens Bay, BC.

The BCUC accepted a Resource Assessment Report for Kyuquot Power Limited, which operates an electrical distribution system on Vancouver Island, BC. The report anticipated a capacity upgrade to accommodate growth in peak demand.

FortisBC applied to the BCUC to build an LNG storage and send-out facility in Kelowna, BC.

The International Energy Agency issued its electricity mid-year update. Growth of 3 percent is predicted for US demand in 2024, driven by air conditioning and data centre expansions.

S&P Global reported that average US household electricity prices rose 21.9 percent between 2018 and 2023, compared to inflation of 22.2 percent in the same period.

2024 07 25

The BC government directed the BC Utilities Commission to approve two transmission service rates for BC Hydro, the electricity utility owned by the government. The Commission approved the rates.

The BC government directed that the BC Utilities Commission fix the net income of BC Hydro at $712 million per year for an additional two years. The Commission will not be able to conduct an independent review the utility’s rate of return until at least fiscal year 2028.

The BC government issued a regulation preventing BC Hydro from supplying electricity to cryptocurrency data centre projects for the next 18 months.

The Vancouver Sun reports that a green hydrogen project proposed for Prince George, BC may be put on hold. The developer, Australian-based Fortescue, has paused its plan for worldwide expansion blaming the cost of electricity.

The CBC reports that the City of Vancouver has reversed its long-standing bylaw banning natural gas for heating new homes.

The Fraser Institute issued a report estimating that by 2030, the Canadian government’s Emissions Reduction Plan will only achieve 57 percent of its target, and will reduce real GDP by 6.2 percent from its base case.

2024 07 15

The BCUC rejected an energy supply application from FortisBC Energy Inc. The nature of the application and the reasons for rejection were withheld.

The BCUC accepted an energy supply application from BC Hydro to buy solar power from the Ulkatcho Energy Limited Partnership. The BCUC had no power to reject the application because it was a prescribed undertaking under BC’s Clean Energy Act.

BC Hydro submitted its 2024 residential rate design application to the BCUC. The application includes proposed changes to the net metering rate, but the details won’t be provided until December 2024.

BC Hydro received a warning from the BC Environmental Assessment Office that the Site C project is not in compliance with its environmental certificate, and that penalties of up to $2 million may apply.

A report from the Canadian Climate Institute suggests that electrifying almost all building heat is the most cost-effective path to achieving net zero GHG emissions in Canada, but this will require between 2.6 and 2.9 times today’s electrical capacity.

FortisBC announced that the government of Canada has approved the construction of a jetty to facilitate the refueling of ships with LNG.

Deloitte, a consulting firm, forecasts increased drilling activity in BC to provide gas for LNG exports, despite a decline of 15 percent in the US and Canada overall in the last year.

A survey by the University of Ottawa’s Positive Energy indicates that 51 percent of Canadians believe now is the best time to be ambitious in addressing climate change, but the proportion who are not interested in transitioning has grown from 26 to 32 percent since 2023.

2024 07 02

The BC government published its Clean Energy Strategy.

Business in Vancouver reports that the BC government’s success in promoting electric vehicles has led to a drop in motor fuel tax revenue, leading to a $34 million drop in revenues for the public transit system and causing it to announce staff reductions.

The BCUC approved FortisBC Inc.’s energy-based rate for direct-current electric vehicle fast charging. Starting October 1, 2024, customers will pay $0.39 per kWh, replacing the former time-based rate.

The BC government announced new subsidies of up to $10,000 for residential customers to install solar panels and battery storage systems, with subsidies of up to $150,000 for larger electricity customers.

The BCUC approved final 2024 rates for Nelson Hydro’s rural customers. The applied-for rate increase of 6.2 percent was denied, replaced with an increase of 4.21 percent. Customers will still pay the larger increase in 2024, but will likely see the overpayment returned to them in 2025.

FortisBC Energy Inc. announced it is the first energy utility in North America to automatically supply renewable natural gas (RNG) to its customers. All customers will be designated RNG for one percent of their gas supply.

Cedar LNG announced a positive final investment decision. The $5.5 billion project is 50.1 percent owned by the Haisla First Nation, and 49.9 percent owned by Pembina Pipeline Corp.

The Oxford Institute for Energy Studies report into the future of natural gas concludes that LNG demand is likely to peak around 2030, declining thereafter. The LNG exporting regions most impacted by lower demand will be North America, southeastern Asian countries and Australia.

2024 06 17

The BCUC approved the 2024/25 annual contracting plan for FortisBC Energy Inc. (Fortis Gas), BC’s largest gas utility. The utility’s “forecast design peak day demand” is 1,452 terajoules (TJ) per day, an increase of 10 TJ per day over the previous year.

Global investment in energy technologies and infrastructure will reach US$3 trillion in 2024, according to the International Energy Agency, $2 trillion of which will be in clean energy.

The BC government announced that BC Hydro, the state-owned electrical utility, will spend more than $1.25 billion upgrading its distribution system in the municipality of Burnaby over the next decade.

The University of British Columbia (UBC) announced a $23 million integrated, on-campus hydrogen production facility and fueling station.

The Canadian federal government reports that the country’s electricity demand will at least double by 2050 to achieve net zero greenhouse gas emissions. It also acknowledges that the current policy environment is in “urgent need of additional clarity.”

A report by Deloitte, a consultancy firm, projects that distributed energy resources (DER) such as rooftop solar generation could make up for the expected growth in peak energy demand by 2035.

2024 06 03

The BCUC resolved a long-running complaint between TELUS Garden Thermal Energy System and FortisBC Alternative Energy Services.

Clean Energy Canada released a report assessing the progress of Canadian provinces in building “sustainable economies.” BC rated a “B” overall, and was let down by “a disconnect between its climate policy and its energy system planning.”

Navius Research released a report showing that peak electricity demand in BC will need to rise to 26,348 MW in order to achieve net zero greenhouse gas emissions by 2050, from 10,924 MW in 2015.

Nuclear power could be a “significant contributor” to achieving net-zero greenhouse gas emissions in Canada by 2050, according to a report from Clean Prosperity. The reports calls for “ambitious and stable” electrification and decarbonization policies extending beyond 2035.

The BC government announced that HTEC plans to build and operate a network of up to 18 hydrogen refueling stations in BC, with hydrogen provided by facilities in Burnaby, Nanaimo and Prince George.

A report from the Electric Power Research Institute (EPRI) suggests that data centres could reach 9.1 percent of total US electricity demand by 2030, compared to an estimated 4 percent today. Demand from artificial intelligence (AI) is predicted to grow quickly, with ChatGPT requests requiring 10 times the electricity of a traditional Google query.

The Fraser Institute published an essay by Distinguished Professor Emeritus Vaclav Smil concluding that “the world free of fossil carbon by 2050 is highly unlikely.”

2024 05 23

The BC legislature passed Bill 24, amending the Utilities Commission Act to allow cabinet rather than the BCUC to regulate electricity service to cryptocurrency businesses (this was the subject of an earlier Just and Reasonable article).

The BCUC granted BC Hydro’s request to rescind a previous decision requiring the utility to consider how it might improve its reporting of investment outcomes. The BCUC has now approved all four reconsideration requests made by BC Hydro in the three months following the government’s replacement of the BCUC chair in September 2023.

The BCUC approved BC Hydro’s request to spend an expected $119 million to service the new Surrey-Langley SkyTrain Line without a Certificate of Public Convenience and Necessity (CPCN). The BCUC chided BC Hydro for not applying for a CPCN in sufficient time, despite being an “experienced participant in the BCUC’s regulatory process” but approved the expenditure in order not to delay the construction of the SkyTrain extension.

The BCUC approved FortisBC Energy Inc.’s 2023 Cost of Service Allocation (COSA) and Revenue Rebalancing application. The decision results in “only marginal rebalancing” of Fortis’s gas rates; the next COSA is to be filed by January 1, 2029.

The BCUC granted exemptions from regulation for producers of hydrogen used for generating electricity or as a transportation fuel. Truckers and sellers of hydrogen as a transportation fuel were also exempted.

2024 05 17

The BCUC accepted Fortis BC Inc.’s annual electric contracting plan for 2024/2025. The utility is forecasting gaps in capacity in the peak months of June and July for the next four years, which it plans to meet through market purchases.

The North American Electric Reliability Corporation’s Summer Reliability Assessment for 2024 shows that BC’s electrical system faces “operational challenges on multiple fronts, including drought, wildfires, and rapid electrification.” BC had the second highest increase in peak demand (7.4 percent) since summer 2023 of all areas in north America (Alberta was highest at 8.9 percent).

The Federal Government’s latest greenhouse gas (GHG) emissions report shows that BC’s GHG emissions rose to 64 equivalent megatons of carbon dioxide (MtCO2e) in 2022. This is almost back to the pre-pandemic figure of 65.2 MtCO2e in 2019.

The California Public Utilities Commission approved a new income-graduated fixed charge for the state’s investor-owned electric utilities. The fixed charge varies from approximately $6 per month to $24.15 per month, and the revenues will be used to reduce volumetric rates for all customers.

According to a report by the International Energy Agency, battery storage is now the fastest growing commercially available energy technology in the power sector, with costs having declined 90 percent since 2010.

The 2024 Pacific Northwest Regional Forecast, covering the states of Washington, Oregon and Idaho, indicates a “surge in demand” for electricity of 30 percent over the next decade, largely due to the growth in data centres, high-tech manufacturing and electrification.

The International Energy Agency’s quarterly gas market report shows that natural gas use in the US spiked to an all-time high on January 16, 2024.

2024 05 04

The BCUC approved BC Hydro’s application to build four “off-grid” EV charging stations in northern BC using propane-powered generators. The BCUC has no power to review whether the investment is in the public interest.

The International Energy Agency’s annual Global EV Outlook says that sales could reach 17 million in 2024, and that every other car sold globally in 2035 is set to be electric.

The Canadian Energy Regulator announced that the Trans Mountain Expansion pipeline is now approved to carry crude oil from Alberta to the Westridge Marine Terminal in Burnaby, BC.

According to the Bank of Canada, the newly commissioned Trans Mountain Expansion project will add 0.25 percentage points to GDP in the second quarter of 2024.

Stats Canada reports that electricity imports to Canada in February 2024 were 124.1 percent higher than the previous ten-year average, due to prolonged dry conditions, exceeding exports for the first time since at least 2016. Imports to British Columbia rose 46.6% year over year, accounting for 71.7% of total imports.

2024 04 26

Fortis has filed a rates application for 2025 – 2027 with the BCUC. The application covers its gas and electric utilities in BC.

BC Hydro has requested permission to start construction of a $100 million+ project to service the new Surrey Langley SkyTrain line without the normal approval process. Current BCUC guidelines require BC Hydro to file an application for a Certificate of Public Convenience and Necessity (CPCN) prior to starting construction.

A survey shows that 70 percent of British Columbians agree with a net-zero goal for 2050, but this drops to 40 percent if average energy costs were to rise by 30 percent. In BC, 80 percent have positive views on hydro-electric power and 65 percent for natural gas, but only 42 percent for nuclear power.

The BCUC has determined that APT Utility Corp. is a public utility. APT Utility Corp. operates equipment or facilities for the provision of electricity and natural gas within the Holly Lodge residential property in Vancouver.

A report issued by the Brattle Group suggests that California could create $550 million in annual consumer savings by 2035 by deploying additional virtual power plant capacity.

2024 04 12

The BC government announced legislative amendments to enable regulation of electricity service for cryptocurrency miners.

Cedar LNG announced it has issued a “notice to proceed” to contractors involved in constructing its floating LNG facility in Kitimat, BC.

The BC government proclaimed April as Safe Digging Month. So dig safely.

2024 04 03

The BCUC approved a rate increase of 7.5 percent for thermal energy services provided by River District Energy, denying the requested increase of 3.94 percent. The approved rate is interim, pending the conclusion of the BCUC’s Generic Cost of Capital proceeding.

The BCUC denied a request from Powell River Energy Inc. to reconsider an earlier decision that found it to be a public utility.

The BC government announced it has issued an environmental assessment certificate for the Tilbury marine jetty in Delta, BC. The jetty will be used to fill carrier ships exporting liquified natural gas (LNG) from the nearby FortisBC LNG plant.

Clean Energy Canada released a report in which it concludes there may be insufficient global demand in future for BC’s LNG exports.

The Canadian Climate Institute issued a report concluding that industrial carbon pricing is the single biggest driver of Canadian greenhouse gas emissions reductions in 2030. The fuel charge (carbon tax in BC) was fourth.

An opinion survey conducted for the University of Ottawa’s Positive Energy program finds that 45 percent Canadians think governments are doing a poor or very poor job of regulating the country’s energy industry, compared to 9 percent who think they are doing a good or very good job.

2024 03 23

The BCUC approved changes to FortisBC Energy Inc.’s renewable natural gas program, but denied its request for a permanent 100 percent renewable natural gas rate for new buildings.

The BCUC approved BC Hydro’s request to rescind a 2021 decision. The utility is no longer required to file a rates application using a performance-based formula for fiscal years 2026 to 2028.

The BCUC approved BC Hydro’s request to vary a 2018 decision. BC Hydro is no longer directed to file a CPCN application for its Westbank Substation Upgrade Project.

The BCUC rejected the BC Sustainable Energy Association’s request to modify the exemptions for thermal energy systems providers the BCUC recently recommended to the BC government.

The BCUC accepted FortisBC Energy Inc.’s long term gas resource plan. The BCUC directed the utility to submit its next plan by March 31, 2026.

The Canadian Climate Institute released a report on the effectiveness of various Canadian government climate policies. The report concludes that market-based policies targeting industrial emissions are having the biggest impact.

2024 03 15

The Auditor General of BC published its Areas of Interest report for the 2022/23 year. The report warns of the risk of the cumulative impact of government directions to the BCUC regarding BC Hydro, and issued a reminder that the Auditor qualified the province’s 2016/17 and 2017/18 summary financial statements.

The BCUC approved BC Hydro’s application for time-based and energy-based electric vehicle charging rates. The BCUC found that the proposed rates fully recover the forecast costs of providing service, but rejected the request for an extended stay charge for level 2 charging.

The BCUC accepted BC Hydro’s Integrated Resource Plan, and ordered that its next plan be filed no later than October 31, 2025.

The BCUC approved BC Hydro’s application to finalize its residential rates for fiscal year 2025 (beginning April 1, 2024). While the utility’s rates have increased, all residential customers will experience a bill decrease thanks to three mitigating factors.

The BCUC approved FortisBC Energy Inc.’s permanent rates to provide compressed natural gas fueling services to GFL Environmental Inc. for its truck fleet. The BCUC ordered that FortisBC Energy Inc. refund the difference between the permanent rate and the previously-approved interim rates.

The American Clean Power Association released its Clean Power Annual Market Report for 2023. The US added a record 33.8 GW of utility-scale clean energy in 2023, bringing the total to 262 GW.

2024 03 06

The BCUC approved interim rates for Kyuquot Power Ltd, an electrical utility. Permanent rates for the utility will be set following the final outcome of the BCUC’s decision in the Generic Cost of Capital proceeding.

The BCUC issued its final Public Utility Safety Guidelines, following up on its earlier decision that established it has jurisdiction over “all aspects of public utility safety.”

The BCUC accepted six electricity purchase agreements between BC Hydro and independent power producers (IPPs). The six agreements, all renewals of earlier agreements, now have 20-year terms and a fixed price of $58/MWh (subject to certain project-specific adjustments), escalating at 50 percent of BC CPI annually. This compares to BC Hydro’s estimate of its long-run marginal cost of $70/MWh.

The BCUC approved an amendment to the transfer agreement between BC Hydro and its unregulated energy trading subsidiary, Powerex Corp. The provincial government prevents the BCUC from exercising its powers to determine whether this agreement is in the public interest.

The International Energy Agency issued its 2023 report on global CO2 emissions, which would have fallen in 2023 but for a global shortfall in hydro-electric generation.