LETTER NO. L-32-04 SIXTH FLOOR, 900 HOWE STREET, BOX 250 ROBERT J. PELLATT VANCOUVER, B.C. CANADA V6Z 2N3 COMMISSION SECRETARY TELEPHONE: (604) 660-4700 Commission.Secretary@bcuc.com BC TOLL FREE: 1-800-663-1385 web site: http://www.bcuc.com FACSIMILE: (604) 660-1102 Log No. 6539, 6553 VIA E-MAIL June 28, 2004 Mr. Scott Thomson Vice President, Finance and Regulatory Affairs Terasen Gas Inc. 16705 Fraser Highway Surrey, B.C. V3S 2X7 Dear Mr. Thomson: Re: Terasen Gas (Vancouver Island) Inc. 2004 First Quarter Gas Cost Report 2004 Second Quarter Gas Cost Report The Commission has examined the 2004 First and Second Quarter Gas Cost Reports provided by Terasen Gas Vancouver Island (“TGVI”) dated June 8, and June 9, 2004 respectively. The recommendation in the 2004 Second Quarter Gas Cost Report that rates remain unchanged is accepted. The Gas Cost Variance Account (“GCVA”) is projected to be at a deficit of $6,727,100 by year end and the Revenue Deficiency Deferral Account (“RDDA”) is tracking forecast. In the 2004 First Quarter Gas Cost Report, TGVI proposes that GCVA imbalances be transferred to the RDDA. This is an issue that TGVI will have to present during the annual review process as this is a departure from the negotiated settlement approved by Order No. G-2-03. Yours truly, Original signed by: Robert J. Pellatt RB/yl TGVI/Cor/2004 1 st -2ndQrtr Rates
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