1999/2000	2000/2001	2001/2002	2002/2003	2003/2004
Electricity Trade Volume (GWh)	23,410	23,900	20,666	31,182	28,373
Average Sale Price (Dollars/MWh)	47	227	187	57	61

BC Hydro's electricity system is interconnected with systems in Alberta and the western United States. This interconnection facilitates sales and purchases of electricity outside British Columbia. Electricity trade activities are carried out by Powerex, a wholly-owned subsidiary of BC Hydro. While it engages in electricity trade, BC Hydro ensures its ability to meet domestic supply requirements is not put under undue risk as a result of these transactions. Electricity trade activities help BC Hydro balance its system by being able to import energy to meet domestic demand when there is a supply shortage in the system due to such factors as low water inflows. Exports are made only after ensuring that domestic demand can be met. Electricity trade revenues also include natural gas sales, which are related to thermal generation requirements.

Net electricity trade revenues for 2003/2004 were up primarily due to an increase in the average sales price of electricity, which rose seven per cent in fiscal 2004 ($/MWh include electricity sales only). The increased sales prices were caused by several factors including reduced energy volumes available from low-cost hydro generation in the region and tighter natural gas supplies. The effect of higher average sales prices was partly offset by a nine per cent reduction in electricity sales volumes in 2004. The decrease in sales volumes was due primarily to lower reservoir levels and transmission restrictions between B.C. and the western United States.