SIXTH FLOOR, 900 HOWE STREET, BOX 250 VANCOUVER, B.C. V6Z 2N3 CANADA web site: http://www.bcuc.com IN THE MATTER OF the Utilities Commission Act, R.S.B.C. 1996, Chapter 473 and An Application by Direct Energy Marketing Ltd. for a Gas Marketer Licence BEFORE: R.H. Hobbs, Chair M. Birch, Commissioner O R D E R WHEREAS: A. On January 7, 2005 Direct Energy Marketing Ltd. (“DEML”) applied to the Commission to renew its Gas Marketer Licence. The application included the payment of the $1,000 application fee and a $250,000 Letter of Credit pursuant to the requirements of Item 3 of the Licence application form; and B. The Commission has reviewed DEML’s application and, relying upon the information and representations made by DEML, finds that approval of the Gas Marketer Licence, subject to conditions, is warranted. C. DEML requests that the Licence be in the name of Direct Energy Marketing Limited, operated as Direct Energy Business Services or Direct Energy Essential Services; and D. The Commission has reviewed DEML’s application and relying upon the information and representations made by DEML, finds that approval of the Gas Marketer Licence subject to conditions is warranted. NOW THEREFORE pursuant to section 71.1(6) of the Utilities Commission Act the Commission orders as follows: 1. The Commission issues to DEML a Gas Marketer Licence, as requested, for the period February 1, 2005 to January 31, 2006. BRITISH COL UMBIA UTILITIES COM MISSION ORDER NUMBER A -1-05 TELEPHONE: (604) 660-4700 BC TOLL FREE: 1-800-663-1385 FACSIMILE: (604) 660-1102 ) ) February 3, 2005 ) . . ./2
2 2. The Licence is subject to the following conditions: 2.1 DEML will carry out the undertakings as set out in the application for a Licence to Market Natural Gas dated February 28, 2004 and the Rules for Gas Marketers. 2.2 DEML will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Treason Gas Inc. 2.3 DEML will maintain a Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence. 2.4 DEML 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 DEML, withdraw the Gas Marketer Licence for reasons the Commission, in its sole discretion, deems and considers sufficient. 2.6 The Gas Marketer Licence and all copies of it shall remain the property of the Commission and DEML will return these documents forthwith upon written request from the Commission. DATED at the City of Vancouver, in the Province of British Columbia, this 17th day of February 2005. Order/Direct Energy NGM Licence Extension BRITISH COLUMBIA UTILITIES COMMISSION ORDER NUMBER A-1-05 BY ORDER Original signed by: Robert H. Hobbs Chair
LICENCE NO. A-1-05 GAS MARKETER LICENCE Direct Energy Marketing Ltd. is granted a licence for the purpose of providing advice to, or acting on behalf of, a low volume consumer (1) purchasing gas directly in the Province of British Columbia subject to the terms and conditions contained in Commission Order No. A-1-05, which are set out in the reverse of the Licence. BRITISH COLUMBIA UTILITIES COMMISSION Original signed by: Robert Hobbs _______________________________________ CHAIR ISSUED: February 1, 2005 EXPIRES: January 31, 2006 (1) As described in the Rules for Gas Marketers.
The Licence is subject to the following conditions: 2.1 Direct Energy Marketing Ltd. (“DEML”) will carry out the undertakings as set out in the application for a Licence to Market Natural Gas and the Rules for Gas Marketers. 2.2 DEML will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Terasen Gas Inc. 2.3 DEML will maintain a Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence. 2.4 DEML 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 DEML, withdraw the Gas Marketer Licence for reasons the Commission, in its sole discretion, deems and considers sufficient. 2.6 The Gas Marketer Licence and all copies of it shall remain the property of the Commission and DEML will return these documents forthwith upon written request from the Commission.
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