Cancelling BC Hydro’s Site C reservoir, dam, and turbine complex on the Peace River would cost British Columbians C$1.2 billion. But that would still be cheaper than putting the troubled project on hold, and could save taxpayers from “significant” cost overruns on a project already priced at $8.8 billion, DeSmog.ca reports, citing a review by Deloitte LLP.

The auditing firm reached the conclusion in a report commissioned by the B.C. Utilities Commission as part of the first independent institutional review of Site C, ordered earlier this year by the province’s new NDP government.

According to Deloitte, cancelling Site C would cost approximately $1.2 billion—less than half BC Hydro’s estimate. “Suspending construction until 2025 would cost $1.4 billion.”

Deloitte also observed that the 2019 target for completion of a critical sub-contract—constructing enormous diversion tunnels to carry the Peace River’s waters around the planned dam construction site—is “at considerable risk.” A one-year delay in completing the tunnels would add 10% to Site C’s cost, the report calculates. “A delay of more than one year will boost the project’s price tag by 20 to 50%.”

The auditors point out that other Canadian hydro projects have also come in 55% to 90% over budget. Former BC Hydro CEO Mark Eliesen made the same point last month, urging his former utility to walk away from what he described as a “reckless” and “irresponsible” investment.