B R IT IS H C O LU M B I A U T IL I T IE S C O M M IS S I O N O R D E R N U M B E R A-2-98 SIXTH FLOOR, 900 HOWE STREET, BOX 250 a 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 Enershare Technology Corporation for Cancellation of an Agents/Brokers/Marketers Licence and An Application by Apollo Gas Inc. for Issuance of an Agents/Brokers/Marketers Licence BEFORE: P. Ostergaard, Chair ) L.R. Barr, Deputy Chair ) May 6, 1998 O R D E R WHEREAS: A. On November 12, 1997 the Commission, by Order No.ÊA-2-97, issued to Enershare Technology Corporation (ÒEnershareÓ) an Agents/Brokers/Marketers LicenceÊ(ÒA/B/M LicenceÓ) for the period ending OctoberÊ31, 1998; and B. On April 29, 1998, Enershare advised the Commission that it had agreed to the sale of its customer direct purchase natural gas business conducted in British Columbia to Apollo Gas Inc. (ÒApolloÓ) effective MayÊ7, 1998. Enershare confirmed that the performance bond required by Order No.ÊA-2-97 would be transferred to Apollo and that Apollo would be making an application to the Commission for an A/B/M Licence covering the period MayÊ7, 1998 to OctoberÊ31, 1998; and C. On April 30, 1998, Apollo applied for an A/B/M Licence and provided the Commission with Surety Performance Bond No.Ê114163 with London Guarantee Insurance Company, in the amount of $250,000, that is to be used to guarantee the performance of ApolloÕs gas supply contracts to NovemberÊ1, 1998; and D. The Commission has reviewed the application by Apollo and, relying upon the information and representations made by Apollo contained in its application, finds that approval of an A/B/M Licence, subject to conditions, is required. . . . /2
B R IT I S H C O LU M B I A U T IL I T I E S C O M M I S S I ON O R D E R N U M B E R A-2-98 2 NOW THEREFORE the Commission orders as follows: 1.0 The Commission approves the cancellation of the A/B/M Licence issued to Enershare effective MayÊ7, 1998. 2.0 The Commission issues to Apollo an A/B/M Licence for the period MayÊ7, 1998 to OctoberÊ31, 1998. 3.0 The A/B/M Licence is issued subject to the following conditions: 3.1 Apollo will carry out the undertakings set out in SectionÊ19 of its AprilÊ30, 1998 Application; 3.2 Apollo will comply with the approved A/B/M Code of Conduct; 3.3 Apollo will maintain the Performance Bond in full force and effect for the duration of the A/B/M Licence; 3.4 Apollo 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. Apollo will provide the Commission with confirmation as to when this condition has been met; 3.5 The Commission may, at any time and without prior notice to Apollo, withdraw the A/B/M Licence for reasons the Commission, in its sole discretion, deems and considers sufficient; and 3.6 The A/B/M Licence and all copies of it shall remain the property of the Commission and Apollo will return these documents forthwith upon written request from the Commission. DATED at the City of Vancouver, in the Province of British Columbia, this ÊÊÊÊÊÊÊÊ25thÊÊÊÊÊÊÊday of May, 1998. BY ORDER Original signed by: Peter Ostergaard Chair Attachment ORDERS/Apollo-Issuance ABM Licence
a CERTIFICATE A-2-98 AGENTS BROKERS MARKETERS LICENCE APOLLO GAS 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-2-98, which are set out on the reverse of the Licence. BRITISH COLUMBIA UTILITIES COMMISSION Original signed by: CHAIR DATE: MAY 7, 1998 EXPIRES: OCTOBER 31, 1998
The A/B/M Licence is issued subject to the following conditions: 1. Apollo will carry out the undertakings set out in Section 19 of its April 30, 1998 Application. 2. Apollo will comply with the approved A/B/M Code of Conduct. 3. Apollo will maintain the Performance Bond in full force and effect for the duration of the A/B/M Licence. 4. Apollo 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. Apollo will provide the Commission with confirmation as to when this condition has been met. 5. The Commission may, at any time and without prior notice to Apollo, withdraw the A/B/M Licence for reasons the Commission, in its sole discretion, deems and considers sufficient. 6. The A/B/M Licence and all copies of it shall remain the property of the Commission and Apollo will return these documents forthwith upon written request from the Commission.
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