BC Hydro has filed an application with the BC Utilities Commission (BCUC) seeking approval for Electricity Purchase Agreements signed with ten new renewable energy projects. The agreements stem from BC Hydro’s recent call for power and mark a significant step toward expanding the province’s clean energy supply.
The ten projects—nine wind farms and one solar installation—are expected to generate approximately 4,830 gigawatt hours of electricity annually, enough to power 500,000 new homes. This will increase BC Hydro’s electricity supply by 8 per cent.
Notably, the cost of electricity from these projects is significantly lower than previous procurements. The weighted average levelized price is $74 per megawatt hour (2024), representing a 45 per cent decrease compared to the contracts awarded in BC Hydro’s last call for clean power in 2010, after adjusting for inflation. BC Hydro says this aligns with its commitment to keeping electricity rates affordable.
Beyond energy production, the projects are expected to generate between $5 billion and $6 billion in private investment and create up to 1,500 jobs annually during construction. Nearly all of the projects have majority First Nations ownership, representing up to $3 billion in First Nations equity—a move BC Hydro describes as a milestone for economic reconciliation and Indigenous participation in the clean energy sector.
The BCUC will now review the application under the Utilities Commission Act to assess whether the agreements align with the public interest and the Province’s Clean Energy Act objectives.