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Author: Admin | 2025-04-28
Purpose:The suspension will preserve the Province’s electricity supply; andThe 18-month suspension period will afford the Province and BC Hydro sufficient time to engage with industry and First Nations to develop a permanent framework for future crypto-mining operations.[2]These motivations connect with a number of contextual factors:The nature of crypto-mining: Crypto-mining consumes massive amounts of power on a 24/7/365 basis. Also, supplying such projects may not carry extensive social benefits since crypto-mining operations are often not permanent with operators frequently moving across jurisdictions in search of cheap, stable power sources. The stability of cryptocurrency itself – a sector fraught with volatility and unclear regulatory purview – is also a key concern when considering to dedicate ample current loads from B.C.’s energy supply to energy-intensive crypto-mining projects. Overall, servicing crypto-miners poses significant obstacles in relation to the B.C. Government’s dual goal of electrifying and de-carbonizing the Province through a shift away from natural gas. In order to fulfill these decarbonisation goals, BC Hydro requires a significant electricity supply which could be limited by additional crypto-mining operations. BC Hydro’s mandate: Generally speaking, BC Hydro has an obligation to serve customers who wish to connect to its power grid. Ultimately, BC Hydro does not discriminate between loads and serves customers on a first-come, first-serve basis. With electricity considered an essential service, BC Hydro cannot – on its own – decline to serve crypto-mining projects. However, Section 28(3) of the UCA permits the BCUC to relieve BC Hydro from the obligation to supply service should the
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