B R I T IS H C O L U M B I A U T I L IT I E S C O M M I S S I O N a O R D E R N U M B ER A-1-98 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, R.S.B.C. 1996, Chapter 473 and An Application by ECNG Inc. for Renewal of an Agents/Brokers/Marketers Licence BEFORE: L.R. Barr, Deputy Chair ) and Acting Chair ) K.L. Hall, Commissioner ) January 15, 1998 P.G. Bradley, Commissioner ) O R D E R WHEREAS: A. On December 9, 1997, ECNG Inc. ("ECNG") applied to the Commission for renewal of an Agents/Brokers/Marketers Licence ("A/B/M Licence") for the period ending October 31, 1998; 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/B/M Licence from the Commission; and C. On December 9, 1997, 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 ending October 31, 1998. 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 ECNG’s Application and, relying upon the information and representations made by ECNG 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. The Commission issues to ECNG an A/B/M Licence for the period up to and including October 31, 1998. 2. The A/B/M Licence is issued subject to the following conditions: 2.1 ECNG will carry out the undertakings set out in Section 19 of its October 22, 1997 Application; 2.2 ECNG will comply with the approved A/B/M Code of Conduct; 2.3 ECNG will maintain the Letter of Credit in full force and effect for the duration of the A/B/M Licence; .../2
2 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 A/B/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 19th day of January, 1998. Orders/ECNG-Renewal ABM LicenseB R IT I S H C O L U M B I A U T I L I T I E S C O M M I S S I O N O R D E R N U M B E R A-1-98 BY ORDER Original signed by: Lorna R. Barr Deputy Chair and Acting Chair
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