Syntaris Power

VANCOUVER — BC Hydro is paying an average of $124 per megawatt hour in new electricity contracts with independent power producers, the Crown corporation said Tuesday.

In a report on its 2008 Clean Power Call, Hydro said it has contracted to pay 27 successful bidders a levelized firm energy price ranging from $105 to $133 per megawatt hour, averaging $124 once the comparative size and electricity output of each project is weighted in.

…Hydro said that even with a 30 per cent attrition rate among successful bidders, its grid will gain 2,286 gigawatt hours of power annually. That’s enough to meet the British Columbia government’s order that Hydro be self sufficient — no longer dependent upon imported power to meet domestic demand — by 2016.

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Link to BC Report on the RFP Process

The B.C. Citizens for Green Energy (BCCGE) has claimed that lumping the U.S.-generated electricity the province is entitled to under the Columbia River Treaty and calling it an export is “misleading and even somewhat disingenuous.”

BCCGE spokesperson David Field said in a release Thursday morning, “You can’t really consider electricity generated in the U.S.A. under the Columbia River Treaty to be an electricity export from B.C.”

The BCCGE, which advocates for more independent power production in B.C. and less energy importation, said that revenue generated by BC Hydro subsidiary Powerex from B.C.’s Columbia River entitlement is one reason electricity rates in B.C. are lower than many other jurisdictions in North America.

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Shift to green providing economic stimulus to Canada’s provinces

Canada is the ninth most attractive location in which to invest in renewable energy projects, according to Ernst & Young’s latest Renewable energy country attractiveness indices.

Canada retained ninth position out of 27 countries analyzed for their attractiveness for renewable energy infrastructure investment - increasing the score gap over Portugal and Ireland, both ranked tenth - driven by the stability and resilience of the Canadian financial system during the ongoing capital market challenges around the globe.

“Canada is holding firm while some others have slipped in an uncertain economic and regulatory environment,” said Stephen Lewis, leader of Ernst & Young’s Renewable Energy Advisory practice in Canada. “We’re seeing some significant activity that is increasing the share of renewables in Canada’s energy mix, but if we want to be seen as a market leader, more work will be required from all stakeholders in the industry.”

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More fresh electricity capacity was added to the electricity grids of both the United States and Europe last year from wind turbines, solar panels and other renewable sources than from conventional power plants run on fossil fuels and nuclear energy.

It was the second year in a row that renewable energy beat its conventional competitors.

The findings are being released Thursday in reports jointly issued by the United Nations Environment Program and Paris-based Renewable Energy Policy Network, which said green energy has “reached a clear tipping point” in becoming the dominant type of new electricity supply.

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