The BC Oil and Gas Commission is getting a new name, a bigger board of directors, and an expanded mandate to reflect the evolution in energy.
The former commission is being renamed the BC Energy Regulator, and its board of directors is being expanded to between five and seven. Previously, the BCOGC had only three directors.
The biggest change for the commission, however, is that its mandate is being expanded to cover energy forms other than just oil and natural gas – including hydrogen and geothermal energy. It will also become the regulator responsible for carbon capture and storage.
"As the energy sector evolves, it's vital that we ensure its regulation reflects the values and expectations of a modern industry and of British Columbians,” Josie Osborne, minister of Energy, Mines and Low Carbon Innovation, said in a press release.
"Emerging energy sectors, such as hydrogen, geothermal and carbon capture, will generate economic opportunities and help B.C. reduce emissions and transition to clean energy. Increasing the size and diversity of the board of directors improves inclusion and better reflects the expanded energy resource mandate."
The new chairman of the board for the BC Energy Regulator will be Chris Hayman, who has served as a consultant to the BCOGC.
New board members are Natascha Kiernan and Ken Cameron, who will serve two-year terms, and Sharon Singh and Kevin Brewster, who are appointed for one-year terms.
To maintain greater independence between the board of directors and management, the executive director will no longer serve as a board member.
