B R I T 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 a N U M B ER G-91-98 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 BC Gas Utility Ltd. for Approval to Issue Common Shares BEFORE: P. Ostergaard, Chair ) L.R. Barr, Deputy Chair ) P.G. Bradley, Commissioner ) K.L. Hall, Commissioner ) October 14, 1998 C.J. Kinsley, Commissioner ) F.C. Leighton, Commissioner ) O R D E R WHEREAS: A. On October 6, 1998, BC Gas Utility Ltd. (“BC Gas”) applied to the Commission for approval, pursuant to Section 50(2) of the Utilities Commission Act (“the Act”), to issue 3,000,000 shares of common equity for proceeds of $64,890,000; and B. The information provided by BC Gas indicates that the issue is necessary in order for the Utility to manage its actual common equity component in line with the allowed common equity component for rate making purposes; and C. The Commission has reviewed the Application and finds that its approval is required. NOW THEREFORE pursuant to Section 50(2) of the Act, the Commission approves for BC Gas the issuance of 3,000,000 shares of common equity to BC Gas Inc. for total net proceeds of $64,890,000. DATED at the City of Vancouver, in the Province of British Columbia, this 15th day of October, 1998. BY ORDER Original signed by: Peter Ostergaard Chair ORDERS/BCG-CommonShares
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