Concerns have been raised about BC Hydro’s ability to provide enough electricity for Province’s economic and population growth. On June 15th, the Province announced a Plan to enhance BC Hydro’s ability to provide clean electricity – Powering Growth, Fueling Opportunity: Energizing British Columbia’s Next Chapter. 

In the Plan, they outline the increased demand for electricity, which is “... projected to grow 20% by 2030 and 50% by 2050, with peak demand increasing by 44%.” To address this, BC Hydro is adopting “... a three-pillar approach to conserve electricity, optimize existing BC Hydro infrastructure and build new generation and transmission projects.” 

Last month, the conservation strategy was announced – Power Smart 2.0. This is a three-year $1.1 billion program with incentives to reduce electricity use, such as “... expanded rebates, free smart thermostats, enhanced low-income supports and increased incentives for businesses.” The latter includes “Expanded funding for commercial and industrial customers, covering up to 100% of eligible project costs in some cases.” 

In terms of optimization, the Government is planning on “... modernizing equipment, upgrading hydroelectric facilities, and improving operational efficiency,” of BC Hydro’s assets to increase electrical capacity by 7%. This includes “Adding a sixth unit at Revelstoke Generating Station,” which is under construction.  

For the third pillar (building capacity), they are “Exploring options for new large hydroelectric generation,” including developing Site E and “The potential Homathko project, near the Bute Inlet—approximately 250 kilometres northwest of Vancouver.” In addition, BC Hydro is looking at geothermal, biomass and “Utility-scale battery energy storage.” 

Finally, there will be investments in new transmission lines. Current transmission lines are also being upgraded between the Lower Mainland, the Interior and Vancouver Island.