BC Hydro Annual Report 2001

Powerex, BC Hydro’s power marketing subsidiary, enjoyed a record-breaking year in fiscal 2001. In the first quarter alone,
P O W E R E X
Powerex revenues broke the billion-dollar mark, nearly matching total revenues for the previous year. The company went on to
increase revenues by over a billion dollars each quarter, ending the year with total sales of over $5 billion.
A C O M B I N E D E F F O R T
Powerex’s success can be attributed to the experience, skills and
market knowledge of Powerex staff, coupled with the ability of
BC Hydro’s Power Supply group to manage Hydro’s electric
Powerex worked with three of BC Hydro’s large industrial
customers who wanted to take advantage of the strong market
opportunities in 2000. In a one-time event, the customers agreed
S U B S I D I A R I E S | 3 0
generating system to maximize value. As well, unique market
conditions in California resulted in an unusually high demand for
power in the state and market-driven high prices for electricity.
W O R K I N G I N P A R T N E R S H I P W I T H C U S T O M E R S
E X P A N D I N G I T S P R E S E N C E
This year the company continued to expand its market east, signing
enabling agreements with utilities and marketers across the U.S.
Powerex is currently exploring setting up a small satellite office in
Toronto to be ready for new business in the eastern regions when
the Ontario marketplace opens up to wholesale competition.
to shift the timing of their energy use during a high market demand
period to a lower one. Powerex was then able to sell the resulting
extra power on the spot market and the benefits were shared.
Staffing levels have been increased across all areas to support
Powerex’s growth in trade and marketing activities. With a staff
of close to 120, the company has expanded its offices, building
a larger trade floor at its downtown Vancouver location.