B.C. Gas Revenue Forecasts Riddled with Errors Worth $1.46 Billion
The British Columbia government has confirmed errors in its gas revenue forecasts worth $1.46 billion over five fiscal years, which were due to botched currency conversions and other administrative mistakes.
According to officials, the most significant error was related to U.S.-Canadian dollar conversions, where a formula was incorrectly applied across a spreadsheet, resulting in a price decrease of 44 cents per gigajoule of natural gas in the province's forecasting for 2026-2027.
The corrections also included a five-cent decrease in forecasted prices due to an error involving the conversion of energy units, as well as two other errors stemming from the use of data from 2025 instead of this year's figures.
Combined, correcting these errors amounted to an average annual decrease in expected revenues of $292 million from this fiscal year to the one starting in 2030.