ivers ▁Policy ". ▁This ▁policy ▁out lined ▁the ▁hydro elect ric ▁development ▁of ▁two ▁major ▁rivers ▁within ▁the ▁province ▁of ▁British ▁Columbia : ▁the ▁Peace ▁River ▁and ▁the ▁Columbia ▁River . ▁Ben nett ▁wanted ▁to ▁develop ▁the ▁Peace ▁River ▁to ▁fuel ▁northern ▁expansion ▁and ▁development , ▁while ▁using ▁the ▁Columbia ▁River ▁to ▁provide ▁power ▁to ▁growing ▁indust ries ▁throughout ▁the ▁province . ▁ ▁The ▁on going ▁negoti ations ▁of ▁the ▁Columbia ▁River ▁Tre aty ▁provided ▁a ▁unique ▁opportunity ▁for ▁W . A . C . ▁Ben nett ▁to ▁ful fil ▁his ▁Two ▁R ivers ▁Policy ▁by ▁working ▁around ▁British ▁Columbia ' s ▁mon et ary ▁issues . ▁During ▁the ▁ 1 9 5 0 s , ▁the ▁government ▁of ▁British ▁Columbia ▁lack ed ▁the ▁funds ▁necessary ▁to ▁develop ▁both ▁the ▁Columbia ▁and ▁Peace ▁rivers ▁and ▁priv ately ▁owned ▁utility ▁BC ▁Electric ▁was ▁unw illing ▁to ▁pay ▁for ▁hydro elect ric ▁development ▁on ▁these ▁rivers . ▁Therefore , ▁the ▁BC ▁Energy ▁Board ▁recommended ▁that ▁hydro elect ric ▁development ▁be ▁undert aken ▁as ▁a ▁public ▁vent ure . ▁On ▁ 1 ▁August ▁ 1 9 6 1 ▁Bill ▁ 5 ▁was ▁proposed ▁to ▁the ▁BC ▁legisl ature ▁calling ▁for ▁provincial ▁control ▁over ▁BC ▁Electric ▁and ▁creation ▁of ▁the ▁Peace ▁River ▁Power ▁Development ▁Company . ▁Later ▁that ▁month , ▁Bill ▁ 5 ▁was ▁passed ▁into ▁law ▁p aving ▁the ▁way ▁for ▁the ▁creation ▁of ▁BC ▁H ydro ▁in ▁ 1 9 6 3 , ▁comple ting ▁Ben nett ' s ▁vision ▁of ▁" public ▁power ".