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Post by cascade on Dec 23, 2005 8:22:38 GMT -8
Doug,
You are correct, but the Ferry Commissioner has kept the ruling open for public comment until January 8th 2006.
If your interested go to his site and down load the BCFS report - 58 pages. Cut out the front stuff and read the second report from an Energy company and then the last report from the "Rating - Bank". It is about 12 pages in total - and gives a very good - clear over sight to the problems BCFS has.
There is a lot of info - produce from the Bank - which will clear up a lot of miss understanding some people have on this forum about things.
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Post by Retrovision on Dec 25, 2005 14:25:47 GMT -8
Can you give us the short version, cascade? Or is it just that complicated that we really should read it for ourselves?
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Post by cascade on Dec 27, 2005 5:13:19 GMT -8
OK - Short ver.
The Banks gave a report to BCFS - telling them where they though the oil price would go to. They were wrong BIG TIME. (BCFS used this report to ask for the first increase)
So BCFS got in a second firm to give a report - which stated that the oil Price between now and 2008 - will be in /around the $55 per barrel and gave lot's of reasons why ect...In fact this report is pretty good - and I think they are about right.
So BCFS has gone back and asked for a second increase - which as you know the Ferry Commissioner has agreed - but subject to a review in June 2006, but before - the general public can ask any question - up until 8th January 2006. (I guess that the general public don't know this - as it is not really advertised a lot in the press - is it?)
The Ferry Commissioner has gone a little bit further this time - and given an end date - which he did not do in the first increase. The end date is April 2008 - which if you follow the ACT (Sorry Doug) you will know that BCFS can ask for Fare increases - which are then fixed for the next 4 years (not the current 5 year period) and BCFS can drop any routes that it doesn't want.
So lot's to play for in April 2008 - and a few months before hand.
(The first fuel increase has no end date)
The Ferry Commissioner can not regulate, any other revenue increase, he only has powers over capital expenditure and Fares. So the increase in parking, food, bookings ect.... the Ferry Comm can do nothing.
He has to look at the routes been asked - to be discontinue - on a "commercial" bases only - so BC Ferries shows that the route losses them money - hey presto that route goes, unless the Government steps in with more money... You guess which way BC Ferries will play it, and more important who will be in power in April 2008.
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Post by Scott on Dec 27, 2005 10:51:09 GMT -8
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Post by cascade on Dec 31, 2005 6:16:02 GMT -8
John,
You are correct - BUT it has been added later - to tie in with the second fuel charge - and I know Doug, doesn't like this - but it is in line with all the new laws under the ACT - so in April 2008 - BCFS can ask for increase in Fares, and for routes to be dropped, plus the Province has to buy back any vessels - which aren't going to be used - as the route is discontinued.
The best thing - is for people to read the last 9 pages of the 58 page report - as these are from a Bank / Bond rating company. It is written in clear - plain English and has no political or Union spin attached to it. Just simple basic - as per the law/ACT.
I could list the points - but think it's better if people read the document themselves.
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Post by Retrovision on Dec 31, 2005 21:31:31 GMT -8
thanks, cascade.
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Post by Quinsam on Dec 31, 2005 21:57:01 GMT -8
Talking about the new fuel surcharge, the ferry one way on route 1 for 2 kids, 2 adults and 1 car is $72!!!
Way too much!
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Post by Retrovision on Dec 31, 2005 22:18:38 GMT -8
>Cough<TakeTransit!>Cough< lol   |
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Post by Quinsam on Dec 31, 2005 23:03:22 GMT -8
Ummm... I was on the way back from the Okanagan.
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