B.C. Government Admits $1.46 Billion Error in Gas Revenue Forecasts

The British Columbia government has confirmed errors in its gas revenue forecasts worth $1.46 billion over five fiscal years.

The mistakes, including botched currency conversions, led to an overstatement of forecasted natural gas revenues by about $1.46 billion, Energy Minister Adrian Dix said.

Dix acknowledged that the errors affected the province's forecasting, not its actual revenues, which can vary in a given year due to price fluctuations.

The most significant error involved an incorrect assumption that figures were shown in U.S. dollars when they were actually Canadian dollars, leading to an overstatement of revenue, Dix said.