Columbia Power Corporation (Columbia Power) is a Crown corporation wholly owned and controlled by the Province of British Columbia, existing under the Business Corporations Act and reporting to the Minister of Energy and Mines.
The company is located in Castlegar, in the heart of the Columbia River system, in the mountains and valleys that characterize the Columbia Basin — where hydroelectric generation has existed since the late 1800s. The company develops, owns and operates hydro power projects in the Basin.
Columbia Power’s mandate, as endorsed by the Province and by Columbia Power’s Board of Directors, is to:
- Enhance Columbia Power’s asset management process and management systems to ensure long-term profitability and reliability of your facilities through effective and efficient plant operations and maintenance, including improved accountability of Columbia Power’s staff and third party service providers.
- Through Columbia Power’s role as the Owner’s Representative for the Waneta Expansion Project, successfully close out the Design-Build construction contract, including management of deficiencies, warranty items and all other responsibilities of the Owner’s Representative to Final Acceptance in 2018. Complete the transition to Owner operational oversight through the involvement in the Waneta Expansion Limited Partnership Operating Committee.
- CPC will work with the Ministry of Energy and Mines, Ministry of Finance, and the Columbia Basin Trust to explore structural options to further enhance value to both the Province and Basin residents while mitigating risk.
Columbia Power’s vision is to be:
- A respected, continually improving company that maximizes shareholder value by developing and operating power projects in a socially and environmentally responsible manner, while achieving the development objectives of the Province and the Columbia Basin.
Our thinking and actions guide how Columbia Power works with its staff and external stakeholders.
The company is driven by our values of:
- Sense of community
- Promotion of work/life balance
Columbia Power + Columbia Basin Trust
Pursuant to the Columbia Basin Accord (1995), the original mandate of Columbia Power was to undertake power project investments as the agent of the Province in partnership with Columbia Basin Trust (the Trust). Columbia Power and the Trust together received $500 million to develop, as joint venture partners, three core power projects in the Columbia River Basin.
Columbia Power’s role is to develop, build and operate these projects on behalf of the partnership. Income from these projects is distributed equally to the Trust and Columbia Power. The Trust uses its income to support efforts by residents of the region to create social, economic and environmental well-being in the Basin. Columbia Power uses the income to reinvest in project development, including Waneta Expansion, currently under construction and pay dividends to our shareholder, the Province of BC. Columbia Power also uses the income to sponsor community groups and events, offer bursaries and scholarships to secondary schools and community colleges and develop and deliver environmental stewardship programs. As partners in these projects Columbia Power and the Trust enjoy a close working relationship.