The Public Utilities Commission today issued a release to stress that BECOL's proposals for a dam at the Vaca Site on the Macal River is just that, a proposal. BECOL still has to get the approval of the PUC before it lays the first brick for Vaca and that approval is pending. The release explains that that the PUC has asked BECOL to prove that the price that BECOL proposes to sell energy to BEL for is fair and reasonable. If and after the PUC is convinced of this, it will then consider the proposed power purchase agreement between BECOL and BEL. Of course, any transaction between BECOL and BEL as seller and buyer bears watching because of the ever present element of corporate incest as both companies are owned by Fortis, a Canadian company and each strives for a 15% rate of return on investment.
You can view the EIA here Vaca -EIA.
