Capital spend for the quarter was Can$287M (US$288M), which was 43% up on Q3 in the previous fiscal year. BC Hydro said the expenditure was higher due to preparations for the winter season, refurbishment and upgrades, transmission grid improvement and work on the firth turbine unit at Revelstoke.
In a statement, Alister Cowan, vice president and chief financial officer, said the spend had increased “significantly” as BC Hydro was focused on expanding distribution and generation capacity to meet rising demand as upgrade ageing assets nearing the end of their life.
The British Columbia utility has filed a request for authorisation of a Can$3.4B (US$3.4B) capital investment programme for 2009 and 2010. It is seeking a commensurate rate increase to also be approved by the British Columbia Utilities Commission (BCUC).
Key improvement works to hydro assets planned for the period include activities at: Peace Canyon plant; G.M. Shrum plant at W.A.C. Bennett dam; Mica plant; Aberfeldie plant; and, Coquitlam dam.
In addition, the firth turbine to be installed at the Revelstoke plant is to have an installed capacity of 500MW. The related budget for the project is Can$280M-Can$350M (US$280M-US$350M), and the works are to be completed in the fiscal year 2011-12.
At the Peace Canyon plant, the Can$141M (US$141M) package of improvements will include stator replacement, rotor modification and turbine overhaul. The works are to be completed in the fiscal year 2010.
There will be a package of works up to Can$91M (US$91M) related to the stator replacement at Gordon M Shrum plant. The works are to be completed in the fiscal year 2010.
A stator replacement is also planned for the Mica plant, and the budget is Can$97M (US$97M). The project was initiated in fiscal year 2007 and is due to be completed in fiscal year 2010.
There is to be a package of seismic improvement works, budgeted at Can$66M (US$66M), for the Coquitlam dam, which was built in 1913. The works are to be completed in fiscal year 2009.
The Aberfeldie plant is being redeveloped at a cost of Can$95M (US$95M). The project involves upgrading the 5MW plant, which was partly rebuilt in 1953, with a 24MW facility. Completion is due in fiscal year 2009.
