2001 Legislative Session: 5th Session, 36th Parliament
The following electronic version is for informational
The printed version remains the official version.
Whereas B.C. Hydro has been a fundamental part of the economic development of British Columbia over the past 40 years;
Whereas B.C. Hydro has been essential in bringing electricity to remote regions of the province and developing our world-class hydroelectric generation, transmission and distribution facilities;
Whereas the single largest threat to the future existence of B.C. Hydro and Power Authority is the economic threat of deregulating the Power Authority;
Whereas, B.C. citizens do not want to end up like their California neighbours as victims of the deregulated electrical market place;
HER MAJESTY, by and with the consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:
While ownership remains with Her Majesty the Queen in the Right of the Province of British Columbia, this Act will formally acknowledge that the Corporation is owned by shareholders, qualified electors, and that as such, shareholders have direct input on matters of privatization and deregulation of the B.C. Hydro and Power Authority.
"shareholder" shall mean all qualified electors who are registered with Elections BC.
Before the privatization and/or deregulation of power generation, transmission and distribution components of the B.C. Hydro and Power Authority can be considered by government, at least ten per cent (10%) of B.C. Hydro shareholders must initiate a request for the privatization and/or deregulation of said components of the B.C. Hydro and Power Authority.
Once a successful initiative has been held, a referendum must be conducted under the Referendum Act prior to allowing the privatization and/or deregulation of power generation, transmission and distribution components of the B.C. Hydro and Power Authority
This Bill requires 10% of shareholders to initiate a request for privatization and/or deregulation prior to the government considering privatization and/or deregulation of the power generation, transmission and distribution components of B.C. Hydro. The government must further conduct a referendum before the privatization and/or deregulation of the said component takes place.
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Copyright © 2001: Queen's Printer, Victoria, British Columbia, Canada