Economic Factors in Future Development of the Pebble Creek Geothermal Resource, B.C., Canada
- Key words
- Exploration; Economics; Regulatory; Canada; British Columbia; Geology; Heat Sources; Permeability; Geophysics; Resistivity; Geochemistry; Thermal Anomaly; Temperature Gradient; RFP; IPP; Avoided Cost; Externalities; Pebble Creek Prospect; Meager Creek Pro
- Location
- Pebble Creek, Canada; Meager Creek, Canada
- Conference
- Geothermal Resources Council Transactions
- Year
- 1992
- Session
- Economics; Exploration; Geological surveys; Geophysical surv
- Language
- English
Abstract
The Pebble Creek geothermal prospect is less well known that the Meager Creek prospect, 12 k to the south. However, B.C. Hydro and the Canadian Department of Energy, Mines and Resources spent C$6 to 7 million on geology, geophysics and diamond (slim hole) drilling at Pebble Creek between 1973 and 1982, and generated sufficient data to indicate the existence and nature of a high temperature resource. Key economic factors which will lead to private development of Pebble Creek are changing power markets in the Northwest, the needs of the region's utilities for diverse and renewable energy sources, and the Capital Cost Allowance, a three year accelerated depreciation schedule available under Canadian tax law. At the time of writing (in May, 1992) the outcomes of the newly elected British Columbia government's comprehensive energy, energy exports, and environmental reviews are uncertain. The geothermal industry will be asking the government for environmental adders.
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