BC Hydro passes audit with flying colours
It appears BC Hydro is doing a good job managing its capital assets.
Carol Bellringer, BC’s Auditor General said an audit of 80 per cent of the Corporation’s 25 billion dollars worth of assets found no significant deficiencies.
Bellringer said they looked at things like, “How well do they know what they have, do they know the condition of what they have, do they put that information together in an appropriate fashion so that decisions can be made about what should be replaced, what should be maintained.”
Bellringer said the audit did not look at BC Hydro’s controversial deferral accounts.
“We are working on finalizing that report right now so it will be publicly available, let’s say, February.”
As early as 2009, auditors general have had concerns about the misuse of deferral accounts.
BC Hydro’s former CEO has alleged the previous BC Liberal government abused deferral accounts to turn the Crown corporation into a general credit card.