BC Transmission Corporation (BCTC) had an exciting year in Fiscal 2007/08. We advanced a number of major capital projects and made good progress towards achieving objectives of the Province's 2007 Energy Plan.
Over the past year, BCTC launched a number of major expansions to the province's 50 year old transmission system, including a project to move more electricity from BC's interior generation facilities to serve growing Lower Mainland demand. This approximately $600 million undertaking, the largest expansion to BC's transmission system in the past 30 years, is a critical component of the plan to meet the long-term needs of the province. BCTC is also nearing completion of our critical transmission reinforcement to Vancouver Island and the southern Gulf Islands, and expects this upgrade to be fully operational by October 2008.
BCTC is continuing our active role in improving transmission interconnections in the region. Working with regional entities such as the Western Electric Coordinating Council, other system operators such as the Alberta Electric System Operator, and regional utilities such as Pacific Gas & Electric, BCTC is seeking ways to make our system more valuable to customers, by improving access to market opportunities beyond BC. Dynamic scheduling, already provided to the California market, went live with northwestern Montana in January 2008.
Concern for the environment is leading to alternative energy choices. Across North America, jurisdictions are demanding utility generation portfolios include more clean, renewable and GHG-free facilities. In many areas, the response to this trend has been to find opportunities to pre-build transmission into zones where there is considerable renewable energy potential. BCTC continues to explore opportunities to bring such planning enhancements to British Columbia.
BCTC is also committed to meeting the Government's Climate Action requirement that Crown Corporations be greenhouse gas (GHG) neutral by 2010. To that end, BCTC's climate change response plan was initiated in Fiscal 2007/8.
We are excited at the opportunities BCTC holds for all of our customers, our employees, our shareholder and our economy, and we look forward to continuing our work together in the development of the Province’s energy sector.