LETTER NO. L-23-00 ROBERT J. PELLATT SIXTH FLOOR, 900 HOWE STREET, BOX 250 COMMISSION SECRETARY VANCOUVER, B.C. CANADA V6Z 2N3 Commission.Secretary@bcuc.com TELEPHONE: (604) 660-4700 web site: http://www.bcuc.com BC TOLL FREE: 1-800-663-1385 FACSIMILE: (604) 660-1102 Log No. 3297 VIA FACSIMILE June 15, 2000 Mr. D.M. Masuhara Vice President Legal and Regulatory Affairs BC Gas Utility Ltd. 1111 West Georgia Street Vancouver, B.C. V6E 4M4 Dear Mr. Masuhara: Re: BC Gas Utility Ltd. Revised Gas Price Management Strategy ____November 2000 - March 2002____ On May 18, 2000, BC Gas filed a revised Gas Price Management Strategy. This was necessary as natural gas market prices continue to rise in the summer months. In order to address this issue the Commission issued Letter No. L-14-00 dated May 4, 2000, that requested utilities to comment on a mechanism for more frequent flow-through of commodity cost changes. These two events, volatile gas market and the Commission’s “L” letter, were contributing factors to the modified application. The Commission approves BC Gas' November 2000 to March 2002 Gas Price Management Strategy. It is understood that the Company may adjust its use of individual hedging instruments depending on cost and availability. The large amount of Sumas gas as compared to AECO is of some concern as lack of price diversity may increase the price risk. BC Gas will be required to update Commission staff before November 2000 if there are changes to the winter program as markets and gas prices become finalized. Yours truly, Original signed by: Robert J. Pellatt RB/lm BCG/Cor/Revised Gas Price Strategy00-02
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