I would like to respond to Yukon Energy Corporation’s Aug. 30 letter insisting that I had “serious errors” in my letter to the Yukon News on Aug. 28.
YEC is correct that its CEO, David Morrison, did not say that the liquefied natural gas turbines that they ordered before receiving regulatory approval will result in a loss, if the project is not approved. YEC’s letter details the CEO’s response to my question at the July 8 meeting concerning the turbines.
YEC must have recorded that remarkable meeting and, of that, I am very thankful. At that meeting, held in the dog days of July, 80 Yukon people, YEC shareholders, lambasted YEC for this project.
This recording will help all YEC’s shareholders hear for themselves how the project was called “madness,” the consultants who presented the life cycle analysis were accused of “greenwashing” and one of the reports was found to have serious flaws about its accounting for greenhouse gas emissions of natural gas. At one point, there was an impromptu poll and only three people openly supported the concept.
Suggestions and criticism flew around the room. Cries of “Just buy second hand diesels,” “Why the rush?” “LNG is a gateway drug to fracking in the Yukon” and “YEC needs better electrical load management, “etc. It is on the record, good.
When YEC questions my facts about Mayo B causing flooding and salmon habitat destruction, I would urge them to go to Mayo themselves and talk to the people there who are being affected by this project. It was them that told me about the problems when I was there last month. Fortunately, Alexco will be shutting down this winter, and the reduced demand might lessen the flooding and overflow issues on the Mayo River. Unfortunately, with a big customer like Alexco gone, how are we going to afford Mayo B?
This leads into my final point. YEC disagrees with my claim that Mayo B produces very little electricity for its value. YEC uses some kind of cryptic water flow measurement to prove that Mayo B is producing twice as much energy as Mayo A. I cannot dispute YEC’s version of this particular fact.
Why doesn’t YEC use some facts that everyone understands? How much electricity did Mayo B produce last year in gigawatt hours?
Is it at least producing enough to cover the $5-million interest on the $100 million debt that YEC’s parent company, Yukon Development Corp., has? YDC had to go to the bond market to finance their half of the Mayo B project, is it at least helping with the interest?
We all have our ideas about what the facts are, and yes, I am entitled to my opinions, but YEC is a regulated utility owned by the people of the Yukon, and its operations are crucial to our ability to live here. YEC needs to be managed transparently, ethically and efficiently, and at this point in time many Yukon people are wondering what, if any, of those three is YEC following?