While the SaskPower operated Boundary Dam Unit 3 carbon capture and storage unit continues to operate beyond physical expectations with regards to the capture and sequestration programs, a group advocating for wind turbine power generation, stated last week they question the financial viability of the BD3 program.
SaskWind, based in Saskatoon, said their detailed financial analysis of the BD3 project, made in March 2015, has received confirmation from the federal Parliamentary Budget Office who produced their own report and confirmed the SaskWind conclusion.
SaskWind stated the Boundary Dam project doubles the price of electricity and, in effect, has added $1 billion to the bills of Saskatchewan electricity consumers.
SaskWind noted the main beneficiary of the carbon capture process, is an Alberta-based oil production company which was also the largest corporate donor to the governing Sask Party in 2013 and 2014. They said it was time for SaskPower to provide some financial accounting which would justify the project.
“We are also concerned, while public funds continue to be used to subsidize coal, wind will be disadvantaged in forthcoming tenders for new gneration capacity,” SaskWind said in their release.
“We believe the public deserves to know how their money is being spent and feel SaskPower’s refusal to provide financial justification for BD3 CCS is unacceptable so we wrote to the auditor as the provider of independent assurance and advice on the management, governance and effective use of public resources — to request her office conduct an audit of the BD3 CCS project,” the release, issued through the office of James Glennie, president and founder of SaskWind, said in conclusion.