electric utility founded 1961 headquarters 333 dunsmuir street vancouver british columbia v6b 5r3 area served british columbia key people jessica mcdonald president & ceo products electricity generation transmission and distribution revenue c 4.898 billion 2013 1 net income c 509 million 2013 1 total assets c 23.7 billion 2013 1 owner government of british columbia number of employees 6128 2011 2 website www.bchydro.com the bc hydro and power authority is a canadian electric utility in the province of british columbia generally known simply as bc hydro . it is the main electric distributor serving 1.8 million customers in most areas 3 with the exception of the city of new westminster where the city runs its own electrical department 4 and the kootenay region where fortisbc a subsidiary of fortis inc. directly provides electric service to 213 000 customers and supplies municipally owned utilities in the same area . 5 as a provincial crown corporation bc hydro reports to the bc ministry of energy and mines and is regulated by the british columbia utilities commission bcuc . its mandate is to generate purchase distribute and sell electricity . bc hydro operates 31 hydroelectric facilities and three natural gas fueled thermal power plants . as of 2014 95 per cent of the province s electricity was produced by hydroelectric generating stations which consist mostly of large hydroelectric dams on the columbia and peace rivers . 6 bc hydro s various facilities generate between 43 000 and 54 000 gigawatt hours of electricity annually depending on prevailing water levels . bc hydro s capacity is about 11 000 megawatts . 7 electricity is delivered through a network of 18 286 kilometers of transmission lines and 55 254 kilometers of distribution lines . for the 2013 2014 fiscal year the domestic electric sales volume was 53 018 gigawatt hours revenue was 5.392 billion and net income was 549 million . 8 contents 1 history 2 modern era 3 organization and financial performance 3.1 site c dam 3.2 independent power producers 3.3 exports 3.4 financial performance 4 renewable energy and conservation initiatives 5 cost of electricity 6 smart meters 7 see also 8 references 9 external links history edit in 1950 bc electric company moved from its carrall street headquarters to a modern 21 storey building on burrard street . in 1998 it was converted to condominiums and renamed the electra building . bc hydro was created in 1961 when the government of british columbia under premier wac bennett passed the bc hydro act . this act led to the amalgamation of bc electric company and the bc power commission and the creation of the british columbia hydro and power authority bchpa . 9 the bc power commission was established with the electric power act in 1945 by premier john hart . the mandate of the power commission was to amalgamate existing power and generating facilities across the province not served by bc electric and to extend service to the many smaller communities without power . 10 bc electric company began as the british columbia electric railway streetcar and lighting utility in victoria vancouver and new westminster in 1897 . power was generated by coal fired steam plants . increasing demand in the edwardian boom years meant bc electric sought expansions through hydro power at buntzen lake and later at stave lake . sensible growth and expansion of the power streetcar and coal gas utilities meant that bc electric was a major company in the region . an english financier named robert horne payne secured the funding and created the large company from what had been a patchwork of small regional electric railway and steam hydro and diesel plants . also at this time sawmills and factories converted to electricity further increasing load . bc electric erected more local hydro stations around the province . similarly small towns also built and operated their own power stations . more power transmission lines were built . dams and hydro electric generating stations were built on the puntledge jordan and elk rivers in the 1920s . bc electric created one of the largest streetcar and interurban systems in the world with some 200 miles of track running from point grey to chilliwack . there were both city street cars and interurban cars servicing richmond burnaby new westminster vancouver north vancouver and victoria . by the first world war private cars and jitneys were beginning to affect streetcar traffic . the expansion of private automobile ownership in the 1920s further constrained the expansion of streetcar lines . new dams were planned including the diversion from the bridge river to seton lake near lillooet but the economic depression of the 1930s restricted business expansion . also with the depression came an increase in the ridership and a decrease in the maintenance of the streetcar system . in 1947 the bc power commission completed john hart generating station at campbell river . in the early 1950s the ageing streetcars and interurban trains were replaced by electric trolley buses and diesel buses . bc electric finally completed the bridge river generating station in 1960 . bc electric and later bc hydro continued to operate the transit system by funding it with a small levy on the electric bill until the transit system was taken over by bc transit in 1980 . in 1958 bc electric began construction of the burrard generating station near port moody . it opened in 1961 and although it is now fueled only by natural gas and operated only intermittently when needed it continues to generate controversy due to its proximity to vancouver and its associated greenhouse gas emissions . in 2001 it represented over 9 % of bc hydro s gross metered generation . 11 on august 1 1961 just days after company president dal grauer died the bc government passed the legislation which changed bc electric from a private company to a crown corporation known as bc hydro . in 1988 bc hydro sold its gas division which distributed natural gas in the lower mainland and victoria to inland natural gas . inland was acquired by terasen gas in 1993 . modern era edit revelstoke dam on columbia river bc between 1960 and 1980 bc hydro completed six large hydro electric generating projects . the first large dam was built on the peace river near hudson s hope . the wac bennett dam was built to create an energy reservoir for the gordon m. shrum generating station which has a capacity of 2 730 megawatts of electric power and generated 13 810 gigawatt hours of electricity per year on average 2012 16 . when it was completed in 1968 the dam was the largest earth fill structure ever built . the williston lake reservoir is the largest lake in british columbia . a second smaller concrete dam was later built downstream closer to hudson s hope for the peace canyon generating station which was completed in 1980 . under the terms of the columbia river treaty with the us bc hydro built a number of dams and hydro electric generating stations including two large projects at mica and revelstoke on the columbia river . the keenleyside dam on the columbia river north of castlegar and the duncan dam north of kootenay lake were also built under the same treaty and are used mainly for water control . two generators were installed at keenleyside in 2002 though these are owned and operated by the columbia power corporation a separate crown corporation . kootenay canal generating station on the kootenay river between nelson and castlegar was completed in 1976 . the seven mile dam and generating station on the pend d oreille river near trail were completed in 1979 . the hugh keenleyside dam left was completed in 1968 . the arrow lakes generating station right was only added in 2002 . in the late 1970s and early 1980s bc hydro investigated the feasibility of geothermal power production at meager creek north of pemberton . they concluded from their testing that the underground rock wasn t permeable enough to justify large scale production of electricity . 12 around the same time bc hydro initiated a project to develop a coal fired thermal generating station at hat creek near cache creek but abandoned the effort in 1981 due to strong environmental opposition . citation needed in 1989 the power smart and resource smart programs were initiated by bc hydro to promote energy conservation as an alternative to the cost of creating new generating facilities . since 2001 bc hydro has focused on its conservation and energy efficiency programs re investing in its existing facilities and purchasing clean renewable energy from independent power producers . according to the british columbia energy plan 13 released in 2007 bc hydro must ensure clean or renewable electricity generation continues to account for at least 90 percent of total generation . as of 2014 97 percent of bc hydro s electricity generation comes from clean or renewable sources and only emits 730 000 tonnes of co2 annually from thermal plants . 14 organization and financial performance edit in 1980 the bc government established the bc utilities commission bcuc to regulate public energy utilities and to act as an independent quasi judicial regulatory agency regarding energy rates . in 2003 the bc government passed several pieces of legislation to redefine and regulate power utilities in british columbia . the transmission corporation act created the british columbia transmission corporation bctc which plans operates and maintains the transmission system owned by bc hydro . also in 2003 bc hydro privatized the services provided by 1540 of its employees in its customer service westech it services network computer services human resources financial systems purchasing and building and office services groups . these services are now provided under contract by accenture . 15 site c dam edit while bc hydro initially looked at site c on the peace river near fort st. john in the late 1950s it wasn t until 1982 that it submitted a site c development project to the british columbia utilities commission bcuc . it was turned down by the bcuc at that time . citation needed another attempt to revive it in the 1990s was blocked by environmental concerns . 16 in 2004 the bc government s energy plan 17 instructed bc hydro to begin discussions with first nations the province of alberta and communities to discuss site c as a future option . 18 in may 2014 a federal provincial joint review panel released a report into the project s environmental economic social heritage and health effects . 19 a notice of site c construction commencing in 2015 was issued july 2015 . 20 revelstoke dam built in 1984 was the last new dam built by bc hydro . independent power producers edit the bc hydro public power legacy and heritage contract act requires bc hydro to meet the province s future needs for power through private developers . these acts have allowed independent power producers ipps to sell power to bc hydro which is required by law to buy it from them even at a loss . 21 in 2011 bc hydro spent 567.4 million on electricity from ipps . in 2013 bc hydro had 127 electricity purchase agreements in its supply portfolio representing 22 200 gigawatt hours of annual energy and over 5 500 megawatts of capacity . 22 in 2013 those purchases will be 781.8 million in 2013 and 939.8 million in 2014 representing about 20 % of domestic supply . 23 24 exports edit bc hydro exports and imports electric power through its wholly owned power marketing and trading subsidiary powerex which was established in 1988 . powerex also markets the canadian entitlement energy from the columbia river treaty . 25 bc hydro belongs to a power sharing consortium which includes electric utilities in alberta washington oregon idaho and california . in 2013 british columbia s minister of energy