ORDER NO. G-80-97 SIXTH FLOOR, 900 HOWE STREET, BOX 250 TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 a BC TOLL FREE: 1-800-663-1385 CANADA FACSIMILE: (604) 660-1102 IN THE MATTER OF the Utilities Commission Act, R.S.B.C. 1996, Chapter 473 and an Application by Squamish Gas Co. Ltd. for Approval to Dispose of the Granisle Grid Propane Distribution System BEFORE: L.R. Barr, Deputy Chair and ) Acting Chair ) July 9, 1997 K.L. Hall, Commissioner ) O R D E R WHEREAS: A. On June 25, 1997 Squamish Gas Co. Ltd. ("Squamish Gas") applied to the Commission, pursuant to SectionÊ52 of the Utilities Commission Act ("the Act"), to dispose of the assets of the Granisle Grid Propane Distribution System ("the Grid System") located at Granisle, B.C. to Pacific Northern Gas Ltd. ("PNG"); and B. On July 7, 1997 PNG applied to the Commission for approval to acquire the Grid System from Squamish Gas. The Commission approved the acquisition and, on July 9, 1997, issued Order No.ÊC-6-97; and C. Squamish Gas and PNG have executed an Asset Purchase Agreement dated December 20, 1996 that allows the assets of the Grid System to be transferred from Squamish Gas to PNG at its net book value, excluding product inventories less $37,000 and identified as Òthe Resort DiscountÓ, effective JuneÊ30, 1997; and D. The Commission has reviewed the documents and finds that approval of the asset transfer of the Grid System from Squamish Gas to PNG is appropriate and in the public interest. NOW THEREFORE Pursuant to SectionÊ52 of the Act, the Commission approves for Squamish Gas the disposition of the Granisle Grid Propane Distribution System to PNG at the net book value of the assets, excluding product inventories, less $37,000 discount, effective JuneÊ30, 1997. DATED at the City of Vancouver, in the Province of British Columbia, this ÊÊÊÊÊÊÊÊ15thÊÊÊÊÊÊÊday of July, 1997. BY ORDER Original signed by: Lorna R. Barr Deputy Chair and Acting Chair Order/SQG-Dispose Grid System
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