The house of cards that is Metro Vancouver’s $512-million incinerator plan seems to be falling. And that’s good news for taxpayers. 

On Thursday, the CTF released this op/ed, calling the project’s business plan into question as it relies on BC Hydro ratepayers to overpay for power in order to make the cost-benefit analysis work for Metro Vancouver taxpayers. Essentially, we’re robbing one set of taxpayers to help another – there is no net gain.

Our core argument was that Metro’s plan is based on getting $100 per megawatt hour for the power the incinerator generates, when the likely range BC Hydro would pay is $55-$85.

On Friday, the Metro Vancouver board of directors received a letter from BC Hydro making it clear we were right: Hydro ratepayers will not pay full green energy rates for incinerator power, meaning there is no chance of Metro getting $88 or more per megawatt hour.

Naturally, the Metro board tried to scurry behind closed doors Friday to talk about the letter, but the damage has been done: the business plan isn’t worth the paper it was written on.

Port Moody Mayor Mike Clay gets it: “If you’re going to put out a business case, make it right. Don’t say we’re going to get $100 (per megawatt hour) when we’re not. It calls into question all of your plans because if you’re wrong on that, what else are you wrong on?”

Hopefully his colleagues are figuring that out too.