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The following electronic version is for informational purposes only.
The printed version remains the official version.
MR. AUSTIN
This Bill establishes water use rental rates for the generation of power and fixes those rates as a percentage of the market price of power. It also mandates the British Columbia Utilities Commission to review existing power production contracts and empowers the Commission to set separate rates depending on the cost production, infrastructure costs, length of contract, the subsidization of existing infrastructure, and the right of British Columbian taxpayers to a fair return on that investment. Finally, the Bill exempts BC Hydro and Columbia Power from the Act.
| Contents | |
| Section | |
| 1 | Definitions |
| 2 | Water Rental Rate for Power Production |
| 3 | British Columbia Utilities Commission Authority |
| 4 | Power Generated by BC Hydro and Columbia Power |
| 5 | Commencement |
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:
1 In this Act,
"Commission" means the British Columbia Utilities Commission under the Utilities Commission Act;
"Water Use Rental Rate" means the lease rate for public water use in the production of power by a power producer.
2 (1) The Lieutenant Governor in Council will, by regulation, set water use rental rates for power production, as determined by the British Columbia Utilities Commission.
3 (1) The Commission will set water use rental rates as fixed to a percentage of the average market price of power.
(2) The Commission will determine the average market price of power on a yearly basis or as required.
(3) Without limiting the requirement under subsection (1), the Commission may set different rates for commercial and general power use.
(4) The Commission will review rates for power production facilities in place prior to the passage of this Act regarding water use for power and may set separate rates for those power producers reflecting the following:
(a) the cost of production;
(b) the infrastructure costs;
(c) the subsidization of existing infrastructure; and
(d) the right of British Columbian taxpayers to a fair return on that investment.
4 No water use rental rate under this Act will apply to power generated by British Columbia Hydro and Power Authority or Columbia Power Corporation.
5 This Act comes into force on the date of Royal Assent.
This Bill establishes water use rental rates for the generation of power and fixes those rates as a percentage of the market price of power. It also mandates the British Columbia Utilities Commission to review existing power production contracts and empowers the Commission to set separate rates depending on the cost production, infrastructure costs, length of contract, the subsidization of existing infrastructure, and the right of British Columbian taxpayers to a fair return on that investment. Finally, the Bill exempts BC Hydro and Columbia Power from the Act.