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The B.C. Government has announced that they will complete construction of the Site C hydroelectric dam, saying it will not burden taxpayers or BC Hydro customer with the previous government’s debt.
"Mega Project mismanagement by the old government has left B.C. in a terrible situation," said Premier John Horgan in making today's announcement. "But we cannot punish British Columbians for those mistakes, and we can't change the past. We can only make the best decision for the future.”
Our decision on #SiteC. #bcpoli pic.twitter.com/tNSr0Ndldc
— John Horgan (@jjhorgan) December 11, 2017
Horgan said that Site C should have never been started, however, to cancel it would add billions to B.C.’s debt, putting taxpayers on the hook for about $4 billion.
In the announcement, Horgan said that had they decided to cancel Site C, it would have taken on the project's $3.9 billion in debt, made up of $2.1 billion already spent and another $1.8 billion in remediation costs. As public debt, it would become the responsibility of BC Hydro customers or taxpayers.
The Wilderness Committee says they are outraged by the news that the NDP Government has given the “misguided” project the green light.
.@BCGreens ldr @AJWVictoriaBC on #SiteC dam decision basically now it is the @bcndp's boondoggle. #bcpoli pic.twitter.com/olZBUPLd20
— shane woodford (@WoodfordCHNL) December 11, 2017
They have been fighting the proposal since 2010, along with First Nations, human rights groups, political parties, and local community members.
“Approving this dam is a heist of billions of dollars of public funds for a project the province does not need and could never pay off,” says Campaign Director Joe Foy. “This dam is an assault on the human rights of the Indigenous people of the Peace River Valley.”
The government has moved forward with a turnaround plan in order to contain project costs, which includes the establishment of a Project Assurance Board to keep the project on budget. Based on current projections, BC Hydro has revised the budget to $10.7 billion.
Other aspects of the plan include a BC Security Fund, community benefits programs, agricultural compensation, and a Peace River Legacy Fund to offset lost sales and stimulate Peace River agriculture.
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