He projects the Crown corporation will lose over $1 billion over the next four years , which comes from being locked into high-priced long-term contracts in which it has to buy power at a high rate from private producers and sell it at a loss, even though it's not needed. According to B.C. Hydro's 2012 Annual Report, Hydro has 15,157 GWh in long-term energy contracts, at a cost of $1.422 billion for 2012/13, while the Site C EIS shows a surplus of 5,200 GWh for 2013, and an expected surplus of 5500 GWh in 2015.
He also suggests this means Site C isn't needed immediately, as Hydro says it is.
However, Energy Minister Rich Coleman says Horgan's math is all wrong, and he hasn't considered fluctuating market prices. He adds that the excess power is needed for the upcoming LNG plants and new mining developments.