Re: the letter to the editor ‘Privatize BC Hydro in the March 1 Saanich News.
I would much rather have a public utility, particularly a monopoly, in public hands, thank you very much. Like all privatized public utilities and contracted out public services, there has to be a profit at the bottom line, and that is yours and my bill and taxpaying dollars. By the nature of the beast, that bottom line is the first priority, not the public’s health, safety or well-being.
What has to happen here is for the B.C. government to stop budgeting, planning and exacting a “dividend” from our public utilities, thereby gutting BC Hydro’s bottom line every year. This necessitates a rate increase almost yearly, many times the rate of inflation, in order to function for another year and to meet capital costs.
I can appreciate that BC Hydro and other public services such as ICBC can’t function solely on inflation-rate increases in revenue. However, I greatly resent being sold on a major infrastructure budget plan only to have the BC Liberals come along every year to deplete the coffers. Keeping income tax rates artificially low so you look good is simply bad management – and eventually, bad politics.