BC Hydro doing good job managing billions in capital assets, says auditor
The Canadian Press
Published Wednesday, December 5, 2018 3:10PM PST
VICTORIA - A report by British Columbia's auditor general says BC Hydro is doing a good job managing the province's dams, generating stations and power lines.
Carol Bellringer says in the audit that BC Hydro's assets are valued at more than $25 billion and even though some generating facilities are more than 85 years old, they continue to operate near full capacity.
- Read the full report
The report says about 80 per cent of Hydro's assets are dams, generators, power lines, poles, substations and transformers that are used to provide electrical service to B.C.
The audit says Hydro invested almost $2.5 billion to renew, repair or replace the assets it manages during the last fiscal year, ending March 31, 2018.
Bellringer's audit does not examine the $10.7 billion Site C dam project, which is currently under construction in northeast B.C. and not slated for completion until 2024.
She says the audit examined whether BC Hydro has the information, practices, processes and systems needed to support good asset management.