Columbia Power Corporation

Columbia Power Corporation (Columbia Power) is a Crown corporation wholly owned and controlled by the Province of British Columbia, existing under the Business Corporations Act and reporting to the Minister of Energy and Mines.

The company is located in Castlegar, in the heart of the Columbia River system, in the mountains and valleys that characterize the Columbia Basin — where hydroelectric generation has existed since the late 1800s. The company develops, owns and operates hydro power projects in the Basin.

Mandate

Columbia Power’s mandate, as endorsed by the Province and by Columbia Power’s Board of Directors, is to:

• Efficiently develop and operate commercially viable, environmentally sound and safe power project investments for the benefit of the Province of British Columbia
• Act as the manager of power project joint ventures with Columbia Basin Trust
• Act as the Owner’s Representative and manager for construction of the Waneta Expansion Project.

Vision

Columbia Power’s vision is to be:

• A respected, continually improving company that maximizes shareholder value by developing and operating power projects in a socially and environmentally responsible manner, while achieving the development objectives of the Province and the Columbia Basin.

Values

Our thinking and actions guide how Columbia Power works with its staff and external stakeholders.

The company is driven by our values of:

• Integrity
• Respect
• Versatility
• Teamwork
• Sense of community
• Promotion of work/life balance
• Sustainability

Columbia Power + Columbia Basin Trust

Pursuant to the Columbia Basin Accord (1995), the original mandate of Columbia Power was to undertake power project investments as the agent of the Province in partnership with Columbia Basin Trust (the Trust). Columbia Power and the Trust together received $500 million to develop, as joint venture partners, three core power projects in the Columbia River Basin.

Columbia Power’s role is to develop, build and operate these projects on behalf of the partnership. Income from these projects is distributed equally to the Trust and Columbia Power. The Trust uses its income to support efforts by residents of the region to create social, economic and environmental well-being in the Basin. Columbia Power uses the income to reinvest in project development, including Waneta Expansion, currently under construction and pay dividends to our shareholder, the Province of BC. Columbia Power also uses the income to sponsor community groups and events, offer bursaries and scholarships to secondary schools and community colleges and develop and deliver environmental stewardship programs. As partners in these projects Columbia Power and the Trust enjoy a close working relationship.