The now estimated $10.7 billion Site C Dam project will be completed according to the B.C. government.
Premier John Horgan says his cabinet deliberated for over nine hours before coming to the conclusion the project is past the point of no return.
“We have listened, we have deliberated and we have debated but at the end of the day, and while Site C is not the project we would have favoured and it’s not the project we would have started, it must be completed to meet the objectives our government has set. ”
Horgan says the $10.7 billion cost can be recovered over a long period of time by the sale of electricity.
“Cancelling the project would mean an unavoidable four billion dollar hit immediately on BC Hydro books or on the books of the Ministry of Finance and the consequence of that would be a 12 per cent rate increase almost immediately and forgoing very important capital projects like schools and hospitals across British Columbia.”
Green Leader Andrew Weaver was quick to condemn the decision in a statement.
“Our caucas is extremely disheartened by this decision. It is fiscally reckless to continue with Site C and my colleagues and I did everything we could to make this clear to the government.”
The project is now two years into construction and is scheduled to be completed by 2024 according to new estimates from the provincial government.