- On April 25, 2003, BC Gas Inc. became Terasen Inc. As with the previous name change, the company's growth beyond BC and into diversified business lines was the impetus for the name change.
- In 2005, Terasen Inc. was purchased by Kinder Morgan Inc. out of Houston, Texas.
- In 2007, KMI sold Terasen Inc. to Fortis Inc. of St. John's, Newfoundland.
Well Gary - this will make your day! Our provincial PST coffers are short 4.5 million dollars as a result of Terasen finding a loop-hole in their contract. That's the amount of PST they should have to pay - the actual amount paid = 0.00 .
Now, the next time someone in government says the reason they deserve to be paid so highly is to attract the best minds...luring them from the private sector, they should be slapped with a sock full of rocks and then be reminded of this little faux pas.
If a person were working in the private sector, whose responsibility it was to proof sales contracts for items such as these handy little loopholes yet somehow missed one like that...how long do you think he/she would be working in the "private sector"? Right! About 3.4 seconds!
Only in the best of government minds can you find something that hideous - yet pat the writers of the contract on the back. I think we need to give them a pay cut retroactive to 2001...let's say about 50%. I know, I know, that would mean some of them still got a raise...but what the hell...I'm feeling magnanimous today. Sort of.
Only in government will you find people promoted to their level of incompetence...the higher up, the more incompetent it appears.
(And here I might suggest that the highest of them all is the most incompetent...Gary E)
And while ripping off the people by not paying taxes they have also applied to the BCUC for a rate increase. After seeing this article (on the tax ripoff) I expect the BC Utilities Commission to turn down any increases as long as this company gets away with the non payment of taxes...Gary E