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Plutonic Power shareholders financial winners of election

Plutonic Power Corporation was the biggest financial winner of the election, according to financial consultant and B.C. blogger Sacha Peter.

Shares in the company (PCC-T) jumped 20.7 per cent on May 13, from about $2.90 per share to $3.50 per share when the B.C. Liberals were elected for a third straight majority. The NDP campaigned on the promise to impose a six-month moratorium on new private power development pending a province-wide plan for project siting.

Plutonic is currently developing a suite of run-of-river projects on the northern Sunshine Coast. One project, on the Toba Inlet, is under construction, another in the Bute Inlet is at the pre-environmental assessment stage and a third in the Knight Inlet is in the planning stage.

Plutonic CEO Donald McInnes told the Vancouver Sun's Scott Simpson that the NDP's plan "was creating massive uncertainty in the province" but added "it's not a given" that their plan in the Bute Inlet will advance with a Liberal majority.

Colleen Kimmett reports for The Hook.

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