A-3-96 SIXTH FLOOR, 900 HOWE STREET, BOX 250 TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 BC TOLL FREE: 1-800-663-1385 CANADA FACSIMILE: (604) 660-1102 IN THE MATTER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended and An Application by ECNG Inc. for Renewal of an AgentslBrokerslMarketers Licence BEFORE: M.K. Jaccard, Chairperson; and ) L.R. Barr, Deputy Chairperson ) November 21, 1996 ORDER WHEREAS: A. On October 29, 1996 ECNG Inc. ("ECNG") applied to the Commission for renewal of an Agents/Brokers/Marketers Licence ("A/BIM Licence") for the period ending October 31, 1997; and B. The Application was made pursuant to the Commission's March 11, 1993 Decision on Domestic Natural Gas Supply Rules which requires that any person intending to act in the capacity of an Agent/Broker/Marketer to provide advice to, or act on behalf of, core market consumers purchasing gas directly in the Province of British Columbia, obtain an A/BIM Licence from the Commission; and C. On December 5, 1996 ECNG confirmed that the Irrevocable Standby Letter of Credit dated October 30, 1995 with the Royal Bank of Canada was extended for a further one year term. The Letter of Credit, in the amount of $250,000, is to be used to guarantee the performance of ECNG's gas supply contracts; and D. The Commission has reviewed the Application by ECNG and, relying upon the information and representations made by ECNG contained in the Application, finds that approval of an A/B/M Licence, subject to conditions, is required. NOW THEREFORE the Commission orders as follows: 1.0 The Commission issues to ECNG an A/B/M Licence for the period up to and including October 31, 1997. 2.0 The AlBIM Licence is issued subject to the following conditions: 2.1 ECNG will carry out the undertakings set out in Section 19 of its October 29, 1996 Application; 2.2 ECNG will comply with the approved AlB/M Code of Conduct; 2.3 ECNG will maintain the Performance Bond in full force and effect for the duration of the A/B/M Licence; .. .12
2.4 ECNG will maintain a Working Capital position of at least $50,000 and a Current Ratio of current assets to current liabilities of at least 1.10; 2.5 The Commission may, at any time and without prior notice to ECNG, withdraw the AlB1 M Licence for reasons the Commission, in its sole discretion, deems and considers sufficient; and 2.6 The A/B/M Licence and all copies of it shall remain the property of the Commission and ECNG will return these documents forthwith upon written request from the Commission. DATED at the City of Vancouver, in the Province of British Columbia, this ORDERSIECNG-ABMRenewLic. A-3-96 2 day of December, 1996. BY ORDER Dr. Mark K. Chairperson
CERTIFICATE A-3-96 AGENTS/BROKERS/MARKETERS LICENCE ECNG INC. is granted a licence for the purpose of providing advice to, or acting on behalf of, core market customers purchasing gas directly in the Province of British Columbia subject to the terms and conditions contained in Commission Order No. A-3-96, which are set out on the reverse of the Licence. BRITISH COLUMBIA UTILITIES COMMISSION DATE: NOVEMBER 21, 1996 EXPIRES: OCTOBER 31, 1997
The AIB/M Licence is issued subject to the following conditions: 1. ECNG will carry out the undertakings set out in Section 19 of its October 29, 1996 Application~ 2. ECNG will comply with the approved AIB/M Code of Conduct; 3. ECNG will maintain the Performance Bond in full force and effect for the duration of the AIB/M Licence; 4. ECNG will maintain a Working Capital position of at least $50,000 and a Current Ratio of current assets to current liabilities of at least 1.10; 5. The Commission may, at any time and without prior notice to ECNG, withdraw the AIB/M Licence for reasons the Commission, in its sole discretion, deems and considers sufficient; and 6. The AIB/M Licence and all copies of it shall remain the property of the Commission and ECNG will return these documents forthwith upon written request from the Commission.
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