Something is up folks, island tides has the story but I think I have the answer.Here`s the deal friends, IPPBC (which Plutonic power is a member of) power wants to buy BC Hydro`s surplus power for dirt cheap, well how can that be, how on earth could we sell our BC Hydro surplus power for dirt cheap to Plutonic power and other IPPs, and at the same time buy their intermittent run of river power for double or even triple the going electrical spot market rate?
How indeed, it doesn`t make sense, or does it! Here is what I think is happening or at least what the Plutonic private power and the other IPPs wants to happen, at this present time there is excess power available on the west coast, so how can Plutonic power and the other IPPs drive up the price, California isn`t going to pay the Plutonic power price or any IPP price for electricity if there is "other power" available, for instance BC Hydro`s surplus power, why would California buy expensive power with other cheap power available? They wouldn`t buy it.....
But,for argument sake let`s say that that Plutonic power and other IPPs "Owned all the BC Hydro surplus power" ...What would happen then? California would have to buy power from Plutonic or the other IPPs,they wouldn`t be able to buy from BC Hydro..
That`s what I think is going on here, Plutonic and other IPPs firm up their soft power supply and owns all the excess power thus forcing the spot market power price upwards,or will it? But what is in it for BC? Nothing, we sell our excess BC Hydro power to Plutonic power for the dirt cheap industrial rate(which is what they want) .....This doesn`t make sense,how would we separate out who`s power was whose?
You see folks, everything that Rafe wrote about,everything that I and others wrote about is coming true, the Habitual Liar Gordon Campbell`s energy plan is a disaster, Plutonic Power and the other IPPs and Gordon Campbell are attempting to muddy the water, theoretically we would be buying our own BC Hydro surplus power back from Plutonic power and other IPPs at a higher price!
Does that make sense? This is nothing but a ponzi scheme designed to steal our BC Dollars, to rob our tax dollars,designed to make BC Hydro worthless,designed to fill Plutonic power`s coffers,It`s now quite apparent why the top traders at PowerX bailed and left,you see if BC Hydro has no power for sale there is nothing for those power trade experts to sell, the price would be guaranteed to Plutonic power and still likely mean massive power trading losses,because with the double and triple rate prices guaranteed to Plutonic power and the other IPPs there would be no negotiating, Gordon Campbell must be stopped,if ever one`s alarm bell should be ringing this is it, the final straw,the last hurrah from a government hell bent on destroying BC.(read about the top Powerx traders quiting here)http://www.kelowna.com/2010/01/23/top-powerex-traders-jump-to-u-s-rival/
It also means that BC Hydro would have no power for future needs of British Columbians, it would effectively put BC Hydro out of the power selling business, BC Hydro has made BC billions of dollars over the last 10 years,that would be gone,essentially BC Hydro would be caput,our domestic rates would rise exponentially to service the guaranteed prices to Plutonic power and other IPPs, our heritage power,WAC Bennett`s vision would be gone,BC Hydro would be but a shell of it`s former self!
And there is one more scenario to consider,let`s suppose the Spot Electrical market did skyrocket, any chance of British Columbia and BC Hydro to make a healthy profit would be gone,essentially BC Hydro would have no ability to make the big bucks,the BC Hydro surplus power wouldn`t be ours! I don`t expect electric prices to skyrocket but if they did, well, Que Sera Sera.
Someone needs to look into this proposal and squash it immediately.(read about it here)Island Tides reported the request from IPPBC to buy BC Hydro surplus power for dirt cheap,everything above is my take on the story.... Island Tides an honest newspaper that reports stories that are important to the people of BC........The story is on page 1 of their PDF and continued on page 3
http://www.islandtides.com/assets/reprint/IslandTides_Feb18_10.pdf
The Straight Goods
Cheers-Eyes Wide Open
12 comments:
This just makes me feel sick. But after reading the Island Tides article (saved it for future reference)..I'd say your spot on with your take on it Grant.
The only "good??" thing about this is that it would be the final nail in the liberal political coffin. Especially Campbell's. That would be wonderful news, if the cost weren't so high.
I wonder if any of his lackeys will finally find the gonads or mammaries to stand up to him on this? Yeahhhhhh...Right! Their souls weren't worth much were they?
Thanks for posting this Grant.
You're right, something is totally haywire here.
What is happening continues the tradition of changes to BC's electric system which favour the private power companies, at the expense of publicly-owned BC Hydro.
We may know more in today's BC budget, with the new Clean Energy Act supposedly coming out. Here's an article from yesterday's Sun:
http://www.vancouversun.com/business/Proponents+critics+seek+clarity+from+Victoria+clean+power+strategy/2626616/story.html
BC MLAs should be debating this issue soon in Legislature.
Have you sent a copy of this to Rafe Mair Grant?
And maybe that fella from Simon Fraser - can't remember his name.
I think you're probably right - and I think it needs to be trumpeted from the roof tops.
Yes I have sent Rafe a copy.
First Accenture took over parts of BC Hydro in 2002. Accenture's predecessor was involved in the Enron electricity ripoff of 2000.
Then GE becomes Plutonic's partner in R-o-R and wind projects in BC.
Now Morgan Stanley is apparently muscling in on Powerex's business.
Here's an article that connects Morgan Stanley with the high price of oil two years ago:
http://www.cbsnews.com/stories/2009/01/08/60minutes/main4707770_page3.shtml
So, since 2002, thanks to the BC Liberals, we have had three huge U.S. corporations become involved in our BC electricity system. Great, eh.
Just to clarify my comment:
Accenture (then called Andersen Consulting) split off from the company prior to 2000.
Grant et al.
Plutonic Power did not make any submissions to the Green Energy Task Force, that was done by IPPBC. In addition, what is written above and in Island Tides about the content of that submission is completely false. I would strongly suggest you fact check your data with the sources before cross posting or interpreting/analyzing it, so you don't continue the spread of misinformation.
With thanks
Elisha McCallum, Plutonic Power Corp.
And who is IPPBC making submissions for?
Are you not a member of IPPBC,of course you are.
I reported what I read,and obviously IPPBC wrote the submission for someone..
Your Run of River power is soft worthless power that isn`t green,even the California senate has ruled that Big run of river power is anything but green,by the way,Arnold Schwarzenneger is nOT RUNNING for re-election in California,so kiss the Cali gravy train good-bye.
Plutonic power (Mcinnes)has done nothing but lie..including when he lied on the Bill Good show about not contributing to the BC Liberals,he had to retract because he put his foot in his mouth!!!
Plutonic power has lied over and over again all over the internet and in print about BC being a net importer of power when that claim is false,count the Columbia treaty power,the Teck Comenko power and all the other sources...
We ARE A NET EXPORTER OF POWER.
Sorry Plutonic,spew your garbage elsewhere,if you have an issue with Island Tides report take it up with them!
And take your power to the spot electrical market,you won`t because without a guaranteed price from the Habitual Liar Gordon Campbell no bank would even look at you.
By the way,remember all the Gordon Campbell lies about not selling BC Rail,and honouring contracts which he illegally tore up...
Guess what,when the NDP takes over Government in BC, your "Not in the Public Interest Contracts" will be torn up,contracts that are illegal and harm the public that were inked in secrecy do not have to be honoured!
We might not be able to stop the export of your soft(not green)power because of NAFTA..But rest assured the the payment will be changed to spot market prices.
Cheers
This is the quote from Islandtides:
"In a submission to the BC government’s Green
Energy Task Forces, BC’s independent power
producers (IPPs) propose that BC Hydro sell
its heritage hydroelectric power to them at the
same preferential rates as other BC export
resource industries,"
Thanks Hugh...We got someone`s attention.
Plutonic Power have spewed so many lies,so much obfuscation,we aren`t backing down Hugh.
Remember Hugh,they don`t shoot dead ducks,and thanks for the back-up...Island Tides hasn`t retracted,either am I...Plutonic,nothing but a scam!
As far as I know, their Toba/Montrose project is still going through.
In exchange for Plutonic's run-of-river desecration of BC's beautiful coast, we get to buy, through BC Hydro, power we don't need for way more than the going rate.
Power that BC Hydro will have to export, probably for a loss. The loss will have to be made up by Hydro ratepayers. I see now that rates may go up 29% in the next few years.
We no longer get our ~$270 million annual dividend from BC Hydro. Unless Hydro raises its rates a lot.
A recent announcement was made by BC Govt of $100 million for "green power". Will Plutonic be getting some of that?
On top of all that, Plutonic gets a ~$7 million per year subsidy for 10 years, from the Federal govt.
It's absolutely mindboggling.
" wonder if any of his lackeys will finally find the gonads or mammaries to stand up to him on this? Yeahhhhhh...Right! Their souls weren't worth much were they?"
They might find their gonads in the safe in Gordo's office, but they will have to use harsh interogation to get the combination from Gordo, Dobell, Kinsella or Lara!
"In exchange for Plutonic's run-of-river desecration of BC's beautiful coast, we get to buy, through BC Hydro, power we don't need for way more than the going rate."
It's difficult to beat a bargain like that, eh?
You can tell you have the thieves attention when they try to bafflegab us. Axor had a carpetbagger "local" (imported by them from the coast as a token local) here in the Kootenays to obfuscate at public meetings and on the internet against those opposed to Glacier/Howser - the guy was such a stoop and put his foot in his mouth so much that for the big meeting last summer they had to send a guy from Montreal, who could speak English to unsuccessfully counter the critics while they kept their former mouthpiece occupied counting the door (he had to use a clicker, being as far more than the number of digits he has attended - over 1000 actually 95%+opposed, in spite of their efforts to hold the meeting out of the way and with as little publicity as possible.
The only thing Gordo and his cronies are smart about is how to play the angles and take advantage of the public mostly by lying!
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