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| cknw.com |
The decision, announced Tuesday by Premier Christy Clark and Energy Minister Bill Bennett, gives the green light to the largest project in the province’s history at a cost of $8.775 billion dollars, and sets the stage for a series of legal showdowns with First Nations and opposed local landowners.
“The government has made a decision to proceed with building the Site C project,” said Bennett.
“What has driven me as the energy minister over this last year and half is what’s best for the ratepayer of British Columbia, how can we acquire the power we need at the least cost possible? And the answer turned out to be the Site C project.”
The announcement came with confirmation the project’s costs have already escalated more than $800 million above the 2010 $7.9 billion budget. Government attributed the cost increases to reverting from the harmonized sales tax to a provincial sales tax, as well as larger inflation and interest costs due to a decision to delay construction to summer 2015.
The project’s core budget is now $8.335 billion, with an additional $440 million “project reserve” account for unexpected costs during the eight-year construction schedule.
The Site C dam will be located on the Peace River near Fort St. John. It’s expected to generate 1,100 megawatts, or enough clean electricity to power 450,000 homes annually, and have an operational lifespan of more than 100 years.
“It’s big, it’s expensive, it’s a huge project, but it’s eight per cent of the total electricity needs required in the province,” said Bennett.
More plus video @ Vancouver Sun
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