The Case of BC Hydro: A Blueprint for Privatization

CEO of Atomic Energy of Canada Ltd., as Deputy Minister of Energy, Mines and Resources Canada, and as Deputy Minister of the Western Economic Diversification Department. Bruce Howe began his career in the pulp and paper industry and rose to become the President and CEO of MacMillan Bloedel Ltd. before moving into the Crown Corporation and government arena.

graduation he held a number of economic analysis and policy positions with the federal government in Ottawa. In 1980 he joined the British Columbia Ministry of Finance as Manager of the Tax Policy Branch, and in 1983 became a Director in Treasury Board Staff. In 1988 Mr. Klassen joined BC Hydro as Vice President of Finance and Administration, and Chief Financial Officer. During his tenure with BC Hydro, Mr. Klassen played a key role in privatizing several segments of the company, reorganizing the remaining elements, and restructuring the corporation's long term debt. As a result of these initiatives, BC Hydro's annual net income improved from $25 million in 1987 to $401 million in 1992. Since 1992, Mr. Klassen has operated his own consulting company.