The British Columbia Utilities Commission (BCUC) accepted 10 energy purchase agreements between BC Hydro and proponents of its 2024 call for clean or renewable electricity.
The ten projects, nine wind and one solar, are expected to provide 4,830 giga watt hours of energy per year.
The agreements have 30-year terms and reflect an average bid price of $74 per megawatt hour.
Energy deliveries are expected to begin in fiscal 2031.
Following a public and transparent review process, the BCUC found the energy purchase agreements to be in the public interest with the criteria in section 71 of the Utilities Commission Act.
This review considered the province’s energy objectives, the amount and cost of energy to be purchased, the consistency of the energy purchases with BC Hydro’s long-term resource plan, and the adequacy of BC Hydro’s consultation with First Nations, among other items.
The BCUC also viewed BC Hydro’s 2024 call for power to be a fair, transparent and competitive process for procuring additional energy required to meet BC Hydro’s needs, and found the price of energy to be reasonable.
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