In 2013 British Columbia's minister of energy and mines, Bill Bennett spoke to why BC Hydro was agreeing to a $750 million settlement with California over claims Powerex manipulated electricity prices. Financial performance Renewable energy and conservation initiatives BC Hydro's Power Smart program encourages energy conservation among its residential, commercial, and industrial customers. The program also aims to promote energy saving retail products and building construction, and includes a "Sustainable Communities Program". Its in-house Resource Smart program is used to identify and implement efficiency gains at existing BC Hydro facilities. BC Hydro also practices energy conservation at its generating facilities through the continuous monitoring and efficient use of the water resources used to power its generators. BC Hydro is committed by the BC government's Energy Plan to achieve electric power self-sufficiency in the province by 2016, with all new generation plants having zero net greenhouse gas emissions by the same year. In 2013, BC Hydro released an Integrated Resource Plan which includes meeting at least 66 percent of the expected increase in electricity demand through increased energy efficiency. BC Hydro has also entered into energy purchase contracts with a new category of company created by special legislation, Independent Power Producers (IPPs) to buy electricity generated from intermittent renewable sources, mainly from small capacity run of river hydro and more recently, wind power, wood residue energy, and energy from organic municipal waste. There has been some criticism of this policy on the basis that it will result in Hydro paying significantly higher rates to private producers than it would have if the power were self-generated. BC has a policy not to develop nuclear power. As of July 2018, BC Hydro operated 58 electric vehicle charging stations in the province. Cost of Electricity In November 2013 the BC Minister of Energy and Mines announced a 10-year plan that will keep electricity rates as low as possible. Increases during the first five years will be between 9 and 3 percent annually. BC Hydro's profitability is affected by its large debt, estimated to reach five billion dollars by 2017. Smart Meters BC Hydro's Smart Metering Program in 2011 introduced the installation of Itron C2S0D Smart meters as mandatory. In 2013 BC Hydro offered the Meter Choices Program for $20 to $30 monthly. See also 2015 British Columbia blackout Columbia Power Corporation FortisBC Alberta interdependence Energy in Canada List of power stations in British Columbia