BC Hydro
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| BC Hydro | |
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| Type | Crown Corporation |
|---|---|
| Founded | 1961 |
| Headquarters | British Columbia, Canada |
| Key people | Bob Elton, President & CEO |
| Industry | Electricity |
| Employees | 4,396 (2005) |
| Website | www.bchydro.com |
BC Hydro is one of the largest electric utilities in Canada, serving more than 3.6 million customers in an area containing over 94 per cent of British Columbia's population whose purpose is to provide, "reliable power, at low cost, for generations." As a provincial Crown corporation, BC Hydro reports to the Minister of Energy and Mines, and is regulated by the British Columbia Utilities Commission (BCUC). BC Hydro operates 30 hydroelectric facilities and three natural gas-fuelled thermal power plants. About 80 per cent of the province's electricity is produced by major hydroelectric generating stations on the Columbia and Peace rivers. BC Hydro's various facilities generate between 43,000 and 54,000 gigawatt hours of electricity annually, depending on prevailing water levels.
Electricity is delivered through a network of 18,286 kilometres of transmission lines and 55,254 kilometres of distribution lines. For fiscal 2005, domestic electric sales volume reached 51,205 gigawatt hours. For fiscal 2005, net income was $402 million, which resulted in a return on equity of 14.24 per cent. On March 31, 2005, BC Hydro, its subsidiaries and British Columbia Transmission Corporation had 4,396 employees.
[edit] History
BC Electric started as a streetcar and lighting utility in Vancouver, and New Westminster. Power was generated by coal fired steam plants. Increasing demand in the Edwardian boom years meant BC Electric sought expansions through Hyrdo power at Buntzen Lake, and later at Stave Lake. Sensible growth and expansion of the power, streetcar and coal gas utilitites meant that BC Electric was a major company in the region.
By the first world war, private cars and jitneys were beginning to affect streetcar traffic. Also at this time, sawmills and factories converted to electricity, further increasing load. BC Electric erected more local hydro stations around the province. Similarly, small towns also built and operated their own power stations. More power AC and DC power lines were strung, though DC was on the way out as it could not travel distances.
New dams were planned, such as Seton Portage, but the Great Depression affected business expansion. The post war years, saw increasing government involvement with the power utility. Organizations such as the BC Electrical Commission helped expand its aegis. Finally, BC Hydro was set up in 1962. By this time, BC Hydro had plants at the Hart Dam, Mission Hill, and commenced vast projects on the Peace River, and the Columbia River.
