CEO of BC Hydro Canned
cbc.ca/news/canada/british-columbia/bc-hydro-...Posted Jul 22, 2017, 2:56 AM UTC
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She was a rabidly partisan player. That is how she got there and She ran the corporation to fit the political will of the Christy Clark Liberals. She absolutely had to go. The NDP were entirely correct to be rid of her.
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So the premier of BC annual salary is $193,532 in 2009
And the B.C. Hydro's CEO (who is a government employee) annual salary is $525,000. WTF, I mean if it was a privately held company I could understand that salary, but a government employee getting over half a million a year seems excessive.
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The relationship is somewhat arms length, they being regulated by the BC Utilities Commission, rather than the legislature. It's not really an employee-employer relationship per se.
Thats nitpicking. The position is fundamentally a public servant and for that kind of money, I'd expect to feel less like a mere customer to squeeze and more like a citizen-owner.
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God I love watching these Liberal heads roll. *shudders with pleasure
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A big mistake she made was writing that letter during the transition dismissing John Horgan as inconsequential to the fate of Site C, after he explicitly asked her to stand down until the election flux was over. Everyone knows you don't treat your (future) boss like that. Her arrogance associated with the BC Liberals got the better of her.
P.S. She presided over an organization that need 6%+ rate increases per year and still couldn't break even. Not someone doing a great job.
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Please use the title from the article when submitting news.
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Why?
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Because that's one of the rules of this subreddit. It's caused too much drama in the past.
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This sub thrives on drama.
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This is actually pretty dumb. Her leadership was pretty solid, and whatever influence liberals had over BCH was exerted by the chairman Brad Bennett. BC Liberals have had the habit of squeezing the money out of BC Hydro and ICBC for years - blame rate increases on them, not a CEO of an overly milked cow
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What? Jessica McDonald was just as big a part of the problem with BC Hydro as anyone else, she's a Liberal insider and former deputy minister to Gordon Campbell, this was an obvious decision to try to fix the mess that she helped perpetuate.
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AFAIK deputy minister is not a political appointment, it's a senior civil servant position
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Deputy ministers are appointed by cabinet, they aren't always purely political but often are. Keep an eye how many are kept on by the NDP and how many the Liberals kept in 2001 (not many). Deputy minister to the premier and cabinet which McDonald was is particularly political as they don't directly oversee a ministry but directly deal with the premiers office.
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Wrong. They are entirely political appointments.
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She's a Liberal insider and paid $500K to run the Corporation. But yeah, leave her alone...for some reason.
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I mean, if you think that $500k is too much to run a corporation of this degree of complexity then I can only guess you don't really know how much work it takes to get electricity to you from backwoods BC? And then you also get into the area where we hold the potential so sell green energy to rest of western Canada and US and how we can negotiate these contracts and pump cash into province. It's not exactly straightforward stuff, and I've met journeyman bonehead electricians making upward to $150k/year
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First you said she doesn't wield much influence, then you credit her with the bringing electricity to the entire Province.
Maybe you'd like to rephrase your general defence of her?
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There's a board of directors and then there's the CEO. CEO actually runs the company, but the board of directors is appointed and is largely dependent on the present political climate. Board of directors pushes political agenda, CEO tries to make the company work, sometimes despite the directors' poor vision and leadership. Does this make more sense?
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Good. Rate increases have been crazy. My hydro bill has doubled over the last 7 years and I've lived in the same place the whole time.
Hopefully this will lead to some meaningful changes.
What makes you think the rates will decrease? With inflation always going up would you expect your hydro bill to stay the same?
I can only hope rates will decrease, I have no evidence that they will.
I would love it if BC Hydro rate increases had only been at the rate of inflation! In reality, the rate of increases has been much higher than inflation.
In general, inflation of 2% result in a ten year price doubling. Hydro's been trying to find future needs, too. Ideally we now use a lot of the current surplus to help this, and hopefully NDP doesn't mess up the finances.
The Liberals raided BC Hydro for over $1B worth of "dividends" to preserve their fictional balanced budgets. Most of that money was borrowed. Debt rating agencies warned that they'd have to degrade the debt if this farce continued. At the same time, the Liberals mandated a shift to private power generation, despite the 50% higher costs. And Clark has tried to push Site C past the point of no return before she left office.
The end result is, BC Hydro is a complete financial disaster. Rates will skyrocket as this mess is unwound. The only question is if people are gullible enough to blame the NDP.
lol no.
7%
7% growth causes prices to double in ten years. 2% is much more in line with inflation and is generally considered the cost of living increase.
I calculate 35 years for 2% inflation to cause a price doubling.
It's a 22% increase. ( 1.02^10 ) But I doubt over these past 10 years BC has seen this much inflation, except in housing.
2% increase per year over 10 years results in a 21.9% increase. Not a doubling. At 2% increase year over year, we double at 35 years.
This government won't be forcing big expensive projects to go through and treating the corporation like a piggyback. That's why Hydro kept going up so much.
Your reasonable questions being downvoted in embarrassing for this sub.
[deleted]
Two years? It was 7.
They have been going up because the bc liberals have been using them like a piggy bank, forcing them to give dividends to the province, even when their rates of return say they shouldn't be. It's the same with Icbc rates I believe. Bunch of crooks!