Dollars (in millions)

	98/99	99/00	00/01	01/02	02/03	03/04	04/05
Net Long-Term Debt	7,491	7,005	6,214	6,889	6,849	6,853	6,627

Consists of long-term debt, including the current portion, net of sinking funds and cash and cash equivalents. Long-term debt has increased by $413 million in the last five years. During the year, BC Hydro redeemed bonds totalling CDN $598 million. These redemptions were largely financed through the issuance of three Canadian bonds totalling CDN $540 million. The decrease in long-term debt for 2004/2005 was also a result of the impact of the stronger Canadian dollar, which reduced the Canadian equivalent of U.S. dollar denominated debt by approximately $151 million.