Independent Power Producers celebrate higher prices, exports to the U.S. , and a compliant government at annual meeting; Electri

Vancouver , BC - At yesterday's annual meeting of independent power producers (IPPs) in Vancouver, private energy companies were grinning from ear to ear as experts predicted steady price increases over the next few years.

Vancouver , BC - At yesterday's annual meeting of independent power producers (IPPs) in Vancouver, private energy companies were grinning from ear to ear as experts predicted steady price increases over the next few years.

IPP Association Steve Davis was clear this was good news for BC's growing private sector electricity producers. "It's music to our ears," said Davis to a room of over 200 happy private electricity company representatives.

"I think it's repugnant that while consumers get dinged with rate increases, the private energy companies are shamelessly smiling all the way to the bank," said Mark Veerkamp, Executive Director for the BC Citizens for Public Power who attended yesterday's meeting.

The IPPs had more than just higher prices to make them smile.

Powerex representative Brian Mogdaham told the meeting that Powerex, the marketing and trading arm of BC Hydro, is on the verge of an agreement with two IPPs to export power to the lucrative American market. According to Mogdaham, these IPPs have asked to have their names remain confidential.

"This is historic. We hope this will be the first of many deals like this," said Mogdaham.

"I thought IPPs were supposed to supply BC, not export power to the U.S.," said Veerkamp. "What happened to our alleged electricity shortage the government keeps talking about? Why is the government letting IPPs export to the U.S. instead working to meet our domestic electricity needs?"

"Why would an IPP sell power to BC Hydro when it can get a better price in the U.S.? Once the floodgates open, our prices will rise to American levels and we will never be able to go back because IPPs will only want to sell at the highest price, and that's south of the border," said Veerkamp.

The Association also congratulated the BC Liberals for their Energy Plan that broke up BC Hydro, increased private sector involvement, and increased rates.

Energy Minister Richard Neufeld told the audience that he was prepared to do more for the private electricity sector including exploring tax breaks.

Liberal MLA Barry Penner, a private electricity booster, warned the group of the consequences of not supporting the Liberals and gave them a call to action. "There are powerful groups opposing all the good things we are doing. Unless you get out there, all those good things might be gone after the next election," said Penner.

"The government wants industry to do its dirty work of promoting increased privatization," said Veerkamp. "I guess since they are the only ones who will ben efit, we can expect a lot more action from the IPPs who want the profits to keep flowing."