2001 Triple Bottom Line Report - BC Hydro

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B O T T O M L I N E Financial efficiency and productivity are the bases of our economic bottom line. It means we aspire to operate efficiently in order to generate profits to support the continuity of our business. By giving us the means to develop and offer the best energy solutions and efficiencies available today, our financial strength allows us to provide maximum value to customers. Focusing on our customers also contributes to their satisfaction and loyalty, thereby protecting our market from competitors. E C O N O M I C B O T T O M L I N E | 5 7 As our customer base broadens and BC Hydro’s economic strength grows, we are able to consider and invest in new business opportunities that promise to consolidate and expand our business and enhance our ability to sustain social, economic and environmental performances for the benefit of British Columbians. SOCIAL INTEGRATION ECONOMIC ENVIRONMENTAL
F I N A N C I A L E F F I C I E N C Y A N D P R O D U C T I V I T Y E C O N O M I C B O T T O M L I N E | 5 8 CUSTOMER VALUE NEW BUSINESS OPPORTUNITIES FINANCIAL EFFICIENCY AND PRODUCTIVITY BC Hydro has a fiscal responsibility to generate profits for the people of British Columbia. We support the economic lifeblood of the province, and the value we create produces revenue to help the B.C. government provide essential services such as hospitals, schools and roads. F I N A N C I A L O V E R V I E W Our 2000/2001 financial performance was exceptional. We generated record profits and export sales, allowing us to invest significant sums of money in long-term sustainability ventures underway within BC Hydro, and in communities throughout the province. We also contributed substantial sums of money to the provincial treasury through dividends, resources rents and taxes (including water rental fees), corporation capital tax and school taxes. Our strong earnings led us to pay $372 million to the B.C. government as a dividend; credit our residential customers a total of $310 million as a government-directed rebate to help offset high natural gas costs; and channel $103 million to our Rate Stabilization Account, a fund designed to protect domestic customers from electricity rate increases. We also expanded our existing commitments by allocating approximately $80 million in new funding for a range of projects including sustainability, environmental clean-up, gain sharing, scholarships and maintenance. 00/01 Actual 00/01 Target 99/00 Actual SHAREHOLDER VALUE-ADDED MILLIONS OF DOLLARS $(55) $103 Our strong financial performance and the benefits that flowed from it were primarily due to increased revenue from electricity trade activities during extreme energy market volatility in North America in 2000/2001. Domestic revenues also increased as a result of customer growth in the residential, light industrial and commercial sectors, including the return to production of several major mining customers who had shut down part of the previous year. At the end of the fiscal year, our statement of operations sheet showed profit of $446 million from total sales of $7,889 million. Sector performance for 2000/2001 included electricity trade of $5,458 million, domestic sales of $2,431 million, and $524 million in revenue from large industrial customers. The year before, totals were $1,129 million, $2,351 million, and $482 million, respectively. $129
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2001 Triple Bottom Line Report - BC Hydro

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