Site C dam not within budget, could cost more than $10B: utilities commission
VICTORIA — The British Columbia government will decide the future of the Site C hydroelectric dam by the end of the year after an independent review concluded the $8.3 billion megaproject is over budget and behind schedule.
The British Columbia Utilities Commission says the dam is not likely to be completed by a 2024 deadline and could end up costing 20 to 50 per cent more than budgeted, increasing completion costs to above $10 billion.
The province’s minority NDP government asked the utilities regulator to examine the project’s economic viability, which was a signature job-creation initiative of former Liberal premier Christy Clark.
Energy Minister Michelle Mungall said cabinet now must decide by the end of this year whether to kill the project or continue construction, which started more than two years ago.