Premier warns NDP, Greens that delaying Site C dam could cost $600M


Proposed Site C Dam graphic

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Site C Project Delay raises BC Hydro costs as Christy Clark warns $600 million impact; NDP and Greens seek BCUC review of the hydroelectric dam on the Peace River, challenging evictions and construction contracts.

 

Key Points

A potential slowdown of B.C.'s Site C dam, risking $600M overruns, evictions, and schedule delays pending a BCUC review.

✅ Clark warns $600M cost if river diversion slips a year

✅ NDP-Green seek BCUC review; request to pause contracts, evictions

✅ Peace River hydro dam; schedule critical to budget, ratepayers

 

Premier Christy Clark is warning the NDP and Greens that delaying work on the Site C project in northeast British Columbia could cost taxpayers $600 million.

NDP Leader John Horgan wrote to BC Hydro last week asking it to suspend the evictions of two homeowners and urging it not to sign any new contracts on the $8.6-billion hydroelectric dam until a new government has gained the confidence of the legislature.

But Clark says in letters sent to Horgan and Green Leader Andrew Weaver on Tuesday that the evictions are necessary as part of a road and bridge construction project that are needed to divert a river in September 2019.

Any delay could postpone the diversion by a year and cost taxpayers hundreds of millions of dollars, she says.

“With a project of this size and scale, keeping to a tight schedule is critical to delivering a completed project on time and on budget,” she says. “The requests contained in your letter are not without consequences to the construction schedule and ultimately have financial ramifications to ratepayers.”

The premier has asked Horgan and Weaver to reply by Saturday on whether they still want to put the evictions on hold.

She also asks whether they want the government to issue a “tools down” request to BC Hydro on other decisions that she says are essential to maintaining the budget and construction schedule.

An agreement between the NDP and Green party was signed last week that would allow the New Democrats to form a minority government, ousting Clark's Liberals.

The agreement includes a promise to refer the Site C project to the B.C. Utilities Commission to determine its economic viability.

Some analysts argue that better B.C.-Alberta power integration could improve climate outcomes and market flexibility.

But Clark says the project is likely to progress past the “point of no return” before a review can be completed.

Clark did not define what she meant by “point of no return,” nor did she explain how she reached the $600-million figure. Her press secretary Stephen Smart referred questions to BC Hydro, which did not immediately respond.

During prolonged drought conditions, BC Hydro has had to adapt power generation across the province, affecting planning assumptions.

In a written response to Clark, Weaver says before he can comment on her assertions he requires access to supporting evidence, including signed contracts, the project schedule and potential alternative project timelines.

“Please let me express my disappointment in how your government is choosing to proceed with this project,” he says.

“Your government is turning a significant capital project that potentially poses massive economic risks to British Columbians into a political debate rather than one informed by evidence and supported by independent analysis.”

The dam will be the third on the Peace River, flooding an 83-kilometre stretch of valley, and local First Nations, landowners and farmers have fiercely opposed the project.

Construction began two years ago.

A report written by University of British Columbia researchers in April argued it wasn't too late to press pause on the project and that the electricity produced by Site C won't be fully required for nearly a decade after it's complete.

 

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Student group asking government for incentives on electric cars

PEI Electric Vehicle Incentives aim to boost EV adoption through subsidies and rebates, advocated by Renewable Transport PEI, with MLAs engagement, modeling Norway's approach, offsetting HST gaps, and making electric cars more competitive for Islanders.

 

Key Points

PEI Electric Vehicle Incentives are proposed subsidies and rebates to make EVs affordable and competitive for Islanders.

✅ Targets EV adoption with rebates up to 20 percent

✅ Modeled on Norway policies; offsets prior HST-era gaps

✅ Backed by Renewable Transport PEI engaging MLAs

 

Noah Ellis, assistant director of Renewable Transport P.E.I., is asking government to introduce incentives for Islanders to buy electric cars, as cost barriers remain a key hurdle for many.

RTPEI is a group composed of high school students at Colonel Gray going into their final year."We wanted to give back and contribute to our community and our country and we thought this would be a good way to do so," Ellis told Compass.

 

Meeting with government

"We want to see the government bring in incentives for electric vehicles, similar to New Brunswick's rebate program, because it would make them more competitive with their gasoline counterparts," Ellis said.

'We wanted to give back and contribute to our community … we thought this would be a good way to do so.'— Noah Ellis

Ellis said the group has spoken with opposition MLAs and is meeting with cabinet ministers soon to discuss subsidies for Islanders to buy electric cars, noting that Atlantic Canadians are less inclined to buy EVs compared to the rest of the country.

He referred to Norway as a prime example for the province to model potential incentives, even as Labrador's EV infrastructure gaps underscore regional challenges — a country that, as of last year, announced nearly 40 per cent of the nation's newly registered passenger vehicles as electric powered.

'Incentives that are fiscally responsible'

Ellis said they group isn't looking for anything less than a 20 per cent incentive on electric vehicles — 10 per cent higher than the provinces cancelled hybrid car tax rebate that existed prior to HST.

"Electric vehicle incentives do work we just have to work with economists and environmentalists, and address critics of EV subsidies, to find the right balance of incentives that are fiscally responsible for the province but will also be effective," Ellis said.

 

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Wynne defends 25% hydro rate cut:

Ontario Hydro Rate Cuts address soaring electricity prices, lowering hydro bills via refinancing, FAO-reviewed costs, and long-term infrastructure investment, balancing ratepayer relief with a projected $21 billion net expense over 30 years.

 

Key Points

Ontario electricity bill relief spreading infrastructure and green energy costs over 30 years via refinancing.

✅ 25% average bill cut; $156 to $123 per month

✅ FAO projects $21B net cost over 30 years

✅ Costs shifted to long-term debt, infrastructure, green energy

 

Premier Kathleen Wynne is making no apologies for the Liberals’ 25 per cent hydro rate cuts, legislation to lower electricity rates that a legislative watchdog warns will cost at least $21 billion over three decades.

In the wake of Financial Accountability Officer Stephen LeClair’s report on the “Fair Hydro Plan,” Wynne emphasized that Ontario electricity consumers demanded and deserved relief.

“You all read the newspaper, you listen to the radio and you watch television — you know the problems that families are having around the province paying for their electricity costs,” the premier told reporters Thursday in Timmins.

That’s why the government moved forward with a rate cut, with recent Hydro One reconnections underscoring the stakes, that will see the average household’s monthly hydro bill drop from $156 to $123 once it fully takes effect next month.

In a 15-page report released Wednesday, the financial accountability officer estimated the initiative would cost the province $45 billion over the next 29 years amid a cabinet warning on prices that electricity costs could soar, while saving ratepayers $24 billion for a next expense of $21 billion.

Both the Progressive Conservatives and the New Democrats oppose the Liberal rate cut, arguing that a deal with Quebec would not lower hydro bills.

But Wynne said the government has in effect renegotiated a mortgage so it will bankroll hydro infrastructure improvements over a longer time period, though some have urged the next government to scrap the Fair Hydro Plan and review options, in order to give customers a break now.

“We’re talking about a 30-year window here. It took at least 30 years, probably 40 years, to let the electricity system degrade to the stage that it had in 2003,” she said, noting “we were having blackouts and brownouts around the province” before her party took office that year.

“There were thousands of kilometres of line that needed to be rebuilt . . . that work hadn’t been done over those generations, so electricity costs were low over that period of time but the work wasn’t being done.”

When her predecessor Dalton McGuinty came to power in 2003, Wynne said Queen’s Park began spending billions on infrastructure improvements, including expensive subsidies for green energy, such as wind turbines and solar panels.

“There’s a lot of work that has been done since then. Literally thousands of kilometres of line have been rebuilt. The coal-fired plants have been shut down. The air is cleaner. There’s less pollution in the air. The system is reliable and renewable,” she said.

“So there’s a cost associated with that and what was happening was that was work that had to be done — and all of those costs were on the shoulders of people today.”

Wynne noted “this electricity grid is an asset that is going to be used for generations to come.”

“My grandchildren are going to benefit from this asset, so I think it’s fair that we spread the cost of that over that 30-year period,” she said.

“That’s how we made this decision.”

 

 

 

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San Diego utility offers $10,000 off Nissan Leaf, BMW i3 electric cars

San Diego Gas & Electric EV incentives deliver $10,000 utility discounts plus a $200 EV Climate Credit, stackable with California rebates and federal tax credits on BMW i3 and Nissan Leaf purchases through participating dealers.

 

Key Points

Utility-backed rebates that cut EV purchase costs and stack with California and federal tax credits for added savings.

✅ $10,000 off BMW i3 or Nissan Leaf via SDG&E partner dealers

✅ Stack with $7,500 federal and up to $4,500 California rebates

✅ $200 annual EV Climate Credit for eligible account holders

 

For southern California residents, it's an excellent time to start considering the purchase of a BMW i3 or Nissan Leaf electric car as EV sales top 20% in California today.

San Diego Gas & Electric has joined a host of other utility companies in the state in offering incentives towards the purchase of an i3 or a Leaf as part of broader efforts to pursue EV grid stability initiatives in California.

In total, the incentives slash $10,000 from the purchase price of either electric car, and an annual $200 credit to reduce the buyer's electricity bill is included through the EV Climate Credit program, which can complement home solar and battery options for some households.

SDG&E's incentives may be enough to sway some customers into either electric car, but there's better news: the rebates can be combined with state and federal incentives.

The state of California offers a $4,500 purchase rebate for qualified low-income applicants, while others are eligible for $2,500

Additionally, the federal government income-tax credit of up to $7,500 can bring the additional incentives to $10,000 on top of the utility's $10,000.

While the federal and state incentives are subject to qualifications and paperwork established by the two governments, the utility company's program is much more straight forward.

SDG&E simply asks a customer to provide a copy of their utility bill and a discount flyer to any participating BMW or Nissan dealership.

Additional buyers who live in the same household as the utility's primary account holder are also eligible for the incentives, although proof of residency is required.

Nissan is likely funding some of the generous incentives to clear out remaining first-generation Nissan Leafs.

The 2018 Nissan Leaf will be revealed next month and is expected to offer a choice of two battery packs—one of which should be rated at 200 miles of range or more.

SDG&E joins Southern California Edison as the latest utility company to offer discounts on electric cars as California aims for widespread electrification and will need a much bigger grid to support it, though SCE has offered just $450 towards a purchase.

However, the $450 incentive can be applied to new and used electric cars.

Up north, California utility company Pacific Gas & Electric offers $500 towards the purchase of an electric car as well, and is among utilities plotting a bullish course for EV charging infrastructure across the state today.

Two Hawaiian utilities—Kaua'i Island Utility Cooperative and the Hawaiian Electric Company—offered $10,000 rebates similar to those in San Diego from this past January through March.

Those rebates once again were destined for the Nissan Leaf.

SDG&E's program runs through September 30, 2017, or while supplies of the BMW i3 and Nissan Leaf last at participating local dealers.

 

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Unilorin develops device to check electricity theft

Ilorin Electricity Theft Device delivers remote monitoring and IoT-based detection for smart meters, identifying bypassed prepaid meters, triggering disconnects, and alerting the utility control room to curb distribution losses and energy theft.

 

Key Points

A prototype IoT system that detects electricity theft, enables remote disconnection, and alerts utility control rooms.

✅ Remote monitoring flags bypassed prepaid meters.

✅ Sends alerts to utility control room with customer details.

✅ Enables safe remote cut-off to reduce distribution losses.

 

The Department of Electrical and Electronics Engineering, University of Ilorin, has unveiled a prototype anti-theft device capable of remotely monitoring and detecting customers stealing electricity.

The Acting Head of the Department, Dr Mudathir Akorede told newsmen on Tuesday in Ilorin that the device could also cut off electricity supply to the premises of customers stealing electricity.

”This will simultaneously send a message to the utility control room, and in light of rising ransomware attacks targeting power systems, to alert the system operator with such customer’s details displayed on the control panel,” he said.

Akorede said that processes of filing application for patenting the invention, in line with emerging IoT security standards for the electricity sector, had commenced through the university’s Laboratory to Product Centre.

The don explained that the device was developed by himself and some students of the Department, reflecting how university teams contribute to innovations like generating electricity from falling snow in the field.

Akorede said, “I gave the project to my undergraduate students; they carried out the project to a level and I took it over and brought it to a level that was up to standard.”

The Don further said,”The invention is now up to the standard that it can be patented.

“I have brought this to the attention of the Ibadan Electricity Distribution Company, although not officially, but if adopted, and as utilities pursue digitizing the grid strategies, the device would enable distribution companies to cut their commercial losses substantially.”

He said that the idea followed the discovery that most people use electricity without paying for it.

”A lot of people that have been able to get the prepaid meter, even though they can afford to pay their bills, still want to bypass this thing to steal electricity and this is not helping the companies.

“It is not helping all of us as a whole. If the industry should collapse, with emerging cyber weapons that can disrupt power grids underscoring systemic risks, everybody would bear the brunt of that problem and that is why the consumers too have to share out of the problem

“But this is not to say that distribution companies also do not have their share of the blame by not wanting to take on responsibilities such as faulty transformers.”

 

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How Hedge Funds May Be Undermining the Electric Car Boom

Cobalt Supply Chain for EV Batteries faces shortages as lithium-ion demand surges; Tesla gigafactories, ethical sourcing, Idaho cobalt mining, and DRC risks intensify pricing, logistics, and procurement challenges for manufacturers and investors.

 

Key Points

A network supplying cobalt for lithium-ion cathodes, strained by EV demand, ethical sourcing pressures, and DRC risk.

✅ EV growth outpaces cobalt supply, widening deficits

✅ DRC reliance drives ESG scrutiny and sourcing shifts

✅ Idaho projects and stockpiling reshape U.S. supply

 

A perfect storm is brewing in the 21st Century battery market.

More specifically, it's about what goes into those batteries - and it's not just lithium.

The other element that makes up 35 percent of the lithium-ion batteries mass produced at Tesla's Nevada gigafactory and at a dozen of other behemoths slated to come on line, is cobalt. And it's already in dramatically short supply. A part of the answer to the cobalt deficit is 100 percent American, and this little-known miner is sitting on a prime Idaho cobalt project that is one of only two that looks likely to come online in the U.S. and it's right in Tesla's backyard.

 

High-Energy Batteries Need More Cobalt Than Lithium 

If you've been focusing your investment on lithium supplies lately you've been missing the even bigger story. EV batteries need about 200 grams of refined cobalt per kilowatt of battery capacity. Power walls need more than twice that. Between March 2016 and April 2017, the cost of the cobalt in that mix nearly tripled. But it isn't just the price that's got manufacturers worried. It's the shortage of availability. Keeping gigafactories stocked with enough cobalt to run at capacity is the challenge of the decade.

Tesla, now with a $50-billion market cap, launched a $5-billion battery gigafactory in Nevada in January. By the end of 2017, it will have doubled the entire global battery production capacity. By next year, it will be producing more batteries than the rest of the world combined.

It is estimated that Tesla's gigafactory alone will need anywhere between 7,000 and 17,500 tonnes of refined cobalt every year.

Tesla used to buy its finished battery cells from Panasonic, which in turn got its processed cathode powders from a Japanese company, Sumitomo was processing its own cobalt in the Philippines. However, that facility is already running at capacity and couldn't even begin to handle Tesla's gigafactory demand. In other words, Tesla's supply chain is no longer secure. And that's just Tesla.

The EV market is fifteen times larger than it was five years ago. The market has experienced a comppound annual growth rate of over 72 percent from 2011-2016, with new sources like Alberta's lithium-laced oil fields drawing investment alongside cobalt. This year, analysts expect it to gain another 25-26 percent. Last year, global EV production grew 41 percent, and sales are up more than 60 per cent year to year.

In addition,the Iron Creek project isn't a new exploration property. It has already seen major historic exploratory work, including 30,000 feet of diamond drilling. Iron Creek has historic (non 43-101 compliant) indications of 1.3 million tons grading 0.59 percent of cobalt with encouraging indications of up to 10 million tons. The 'closeology' is also brilliant. It's right next to the only advanced cobalt project in the U.S., which has a resource of 3 million-plus tonnes of cobalt.

As the battery market hits fever pitch and the supply-chain bottlenecks become unbearable, homegrown exploration is the key-first-movers and first investors will be the biggest beneficiaries.

 

A Very Precarious Supply Chain 

Supply is already in deficit, and we're also looking at an anticipated 500 percent increase in demand, making EV battery recycling an increasingly important complement to mining. Analysts at Macquarie Research project deficits of 885 tonnes of this resource next year, 3,205 in 2019 and 5,340 in 2020.

Not only is demand set to wildly outstrip supply very soon, but current supply (50 percent) comes primarily from the Democratic Republic of Congo (DRC). Buyers are coming under increasing pressure to look elsewhere for cobalt as the U.S. moves to work with allies to secure EV metals through diversified supply chains. The DRC has a horrendous record when it comes to labor practices and human rights.

Ask Apple Inc.  The tech giant recently announced it would stop buying unethical DRC cobalt for its iPhones - and as such, it has been forced to look for new suppliers.

The perfect storm continues: Some 95 percent of the world's cobalt is produced as a byproduct of copper and nickel mining, where concerns about ethical sourcing have put a spotlight on Canada's role in sustainable nickel practices worldwide. This means that cobalt supply is dependent on copper and nickel mining, and if those commodities are uneconomic to mine, there are no cobalt by-product results.

Not only is US Cobalt one of the first movers on the All-American ethical cobalt scene, but it's also financed to advance its Idaho Cobalt Belt project, and hopes to prove up 10 million tonnes of cobalt resource.

 

The Dream Team Behind Pure American Cobalt 

The CEO of US Cobalt, Wayne Tisdale, is a legend in spotting emerging trends with impeccable timing and has created billions in shareholder value. He's already done it with uranium, gold and oil and gas, and his most recent homerun was in lithium, with Pure Energy. When it launched in 2012, lithium was selling for about $5,000 per tonne. Within 18 months, it had increased 450 percent.

His next bet is on cobalt.

Tisdale and his team at Intrepid Financial have, in recent years, created $2.7 billion in value by building and financing 5 companies in completely different industries:

  • Rainy River (gold) was worth $1.2 billion at its peak
  • Xemplar (uranium) hit $1 billion at its peak
  • Ryland Oil (oil and gas) sold for $114 million
  • Webtech Wireless (tech) was worth $300 million at its peak
  • Pure Energy (lithium) is worth $65 million (and counting)

The bottom line? There is no other commodity on the market right now that we need more.

Just watch what the hedge funds are doing with cobalt because it's unprecedented. The run on physical cobalt started in February in the least expected corner: Major hedge funds started buying up physical cobalt and hoarding it in order to gain exposure, resulting in a major supply shortage for the blue metal. Swiss-based Pala Investments and China's Shanghai Chaos have already hoarded 17 percent of last year's global production. At today's prices that's worth around $280 million. At tomorrow's prices, it will be worth a lot more.

When hedge funds start stockpiling physical cobalt, it sends its traditional buyers into a panic to secure new shipments. Since November, cobalt prices have rallied more than 100 percent, and this is only the beginning. As the cobalt supply problem grows, and EV giants and gigafactories continue to increase demand, a home-grown solution is at hand. As a first principle of investing, where there is a supply problem, there is a massive opportunity for early investors.

 

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More than a third of Irish electricity to be green within four years

Ireland Wind and Solar Share 2022 highlights IEA projections of over 33% electricity generation from renewables, with variable renewable energy growth, capacity targets, EU policy shifts, and investments accelerating wind and solar deployment.

 

Key Points

IEA forecasts wind and solar to exceed 33% of Ireland's electricity by 2022, second in variable renewables after Denmark.

✅ IEA expects Ireland to surpass 33% wind and solar by 2022

✅ Denmark leads at ~70%; Germany and UK exceed 25%

✅ Investments and capacity targets drive renewable growth

 

The share of wind and solar in total electricity generation in Ireland is expected to exceed 33pc by 2022, according to the 'Renewables 2017' report from the International Energy Agency (IEA).

Among the findings, the report says that Denmark is on course to be the world leader in the variable renewable energy sector, with 70pc of its electricity generation expected to come from wind and solar renewables by 2022.

The Nordic country will be followed by Ireland, Germany and the UK, all of which are expected see their share of wind and solar energy in total electricity generation exceed 25pc, according to the IEA report.

In a move to increase the level of wind generation in Ireland, the Government-controlled Ireland Strategic Investment Fund (Isif) teamed up with German solar and wind park operator Capital Stage in January to invest €140m in 20 solar parks in Ireland.

#google#

The parks are being developed by Dublin-based Power Capital, and it marks the first time that Isif has committed to financing solar park developments in this country.

Globally, renewables accounted for almost two-thirds of net new power capacity, with nearly 165 gigawatts (GW) coming online in 2016.

This was a record year that was largely driven by a booming solar market in China and around the world.

In 2016 solar capacity around the world grew by 50pc, reaching over 74 GW, with China's solar PV accounting for almost half of this expansion. In another first, solar energy additions rose faster than any other fuel, surpassing the net growth in coal, the IEA report found.

China alone is responsible for over two-fifths of global renewable capacity growth, which, according to the IEA, is largely driven by concerns about the country's air pollution and capacity targets.

The Asian giant is also the world market leader in hydropower, bioenergy for electricity and heat, and electric vehicles, the IEA report said. In 2016 the United States remained the second largest growth market for renewables.

However, with US President Donald Trump withdrawing the country from the Paris Agreement on climate change, the country's commitment to renewable energy faces policy uncertainty.

Meanwhile, India continues to grow its renewable electricity capacity, and by 2022, the country is expected to more than double its current renewable electricity capacity, according to the IEA. For the first time, this growth over the forecast period (2016-2022) is higher compared with the European Union, according to the report.

Meanwhile in the EU, renewable energy growth over the forecast period is 40pc lower compared with the previous five-year period.

The low forecast in respect of the EU is based on a number of factors, the IEA said, including weaker electricity demand, overcapacity, and limited visibility on forthcoming auction capacity volumes in some markets.

Overall, the Government has committed to generating 40pc of its electricity from renewable energy sources by 2020.

That target is set to be missed, which would see the Government eventually having to fork out hundreds of millions of euro for carbon credits.

Later this year, Ireland will host Europe's biggest summit on Climate Innovation, during which over 50 nationwide events and initiatives will be held.

 

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