BRITISH COL UMBIA UTILITIES COM MISSION ORDER NUMBER G -125-07 SIXTH FLOOR, 900 HOWE STREET, BOX 250 TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 CANADA BC TOLL FREE: 1-800-663-1385 web site: http://www.bcuc.com FACSIMILE: (604) 660-1102 IN THE MATTER OF the Utilities Commission Act, R.S.B.C. 1996, Chapter 473 and An Application by Central Heat Distribution Limited for Approval of 2007 Revenue Requirements BEFORE: L.F. Kelsey, Commissioner and Panel Chair October 10, 2007 O R D E R WHEREAS: A. On August 23, 2007, Central Heat Distribution Limited (“CHDL”) filed with the Commission, pursuant to Sections 58 and 61 of the Utilities Commission Act (the “Act”), an application to increase its Steam Tariff Schedule of Charges by 10.51 percent effective October 1, 2007, above the 2006 permanent rates (the “Application”); and B. The Application contained a customer notice regarding the requested increase in steam charges that CHDL intended to send to all of its customers; and C. Commission Order No. G-99-07 set an intervenor registration deadline of September 7, 2007 and required CHDL to provide its current and prospective customers with a copy of the Order, the Executive Summary of the Application and the customer notice by August 31, 2007. A timetable for further review of the Application would be made by a future Order that would be sent to all Registered Intervenors; and D. CHDL filed an affidavit confirming that a copy of Commission Order No. G-99-07, the Executive Summary of the Application and the customer notice was provided to CHDL’s current and prospective customers by August 31, 2007. No customers intervened by the registration deadline; and E. The Commission, pursuant to Section 89 of the Act, approved for CHDL an interim increase in Steam Tariff Schedule of Charges of 10.51 percent effective October 1, 2007, as set forth in Commission Order No. G-109-07. The Order also established that a Negotiated Settlement Process for the review of the CHDL Application would commence on October 2, 2007. The Order further required Central Heat to confirm that it had distributed the Order to its current and prospective customers and customers were to advise the Commission by September 27, 2007 if they intended to participate in the Negotiated Settlement Process; and F. CHDL filed an affidavit confirming that a copy of Commission Order No. G-109-07 and the customer notice was provided to CHDL’s current and prospective customers by September 21, 2007. No customers advised the Commission that they intended to participate in the Negotiated Settlement Process; and . . ./2
BRITISH COLUMBIA UTILITIES COMMISSION ORDER NUMBER G-125-07 2 G. On October 4, 2007, a Negotiated Settlement Agreement was reached between CHDL and Commission staff, which included an average permanent rate increase in the Steam Tariff Schedule of Charges of 7.288 percent to be effective October 1, 2007 to recover a 2007 revenue deficiency of $424,846 (the “NSA”); and H. Under the NSA, the labour costs of $155,000 to hire two additional staff were reallocated from 2007 and spread over the next two years. The impact of this reallocation is set as a specific dollar change to the tariff resulting in a rate increase of 1.329 percent in 2008 and 2009 and avoids a further review in those two years. Effective January 1, 2008, the average permanent rate will increase to 8.617 percent, and effective January 1, 2009, will increase to 9.946 percent above the 2006 permanent rates; and I. On October 4, 2007, CHDL submitted a letter of support to the NSA; and J. The Commission has reviewed the NSA and finds that it should be approved. NOW THEREFORE the Commission orders as follows: 1. The Commission approves for CHDL the NSA package, attached as Appendix A to this Order, and an average permanent rate increase in the Steam Tariff Schedule of Charges of 7.288 percent effective October 1, 2007 to recover a 2007 revenue deficiency of $424,846. 2. The difference between the interim rates approved by Commission Order No. G-109-07, if they have been billed to customers, and the permanent rates established by this Order are subject to refund with interest at the average prime rates of CHDL’s principal bank. 3. The Commission further approves average permanent rate increases of 1.329 percent per year in the Steam Tariff Schedule of Charges for 2008 and 2009 for a rate increase of 8.617 percent effective January 1, 2008 and 9.946 percent effective January 1, 2009 above the 2006 permanent rates. 4. CHDL is to inform all customers about the NSA and the approved average permanent rate increases for 2007, 2008 and 2009 by way of a customer notice. 5. CHDL is to file a permanent Steam Tariff Schedule of Charges that is in accordance with the terms of the NSA and this Order in a timely manner. DATED at the City of Vancouver, in the Province of British Columbia, this 16 th day of October 2007. BY ORDER Original signed by: L.F. Kelsey Commissioner Attachment Orders/G-125-07_CHDL 2007RR Negotiated Settlement
WILLIAM J. GRANT TRANSITION ADVISOR, REGULATORY AFFAIRS & PLANNING bill.grant@bcuc.com web site: htlp:lhvww.bcuc.fom Mr. John S. Barnes President and General Manager Central Heat Distribution Limited Suite 1,720 Beatty Street Vancouver, BC V6B 2M1 Dear Mr. Barnes: Re: Central Heat Distribution Limited ("Cent& ~ 2007 Revenue Reauirements Avvlication On October 2,2007, Central Heat and Commission staff had settlement discussions on the 2007 Revenue Requirements Application ("2007 Application") in accordance with the Negotiated Settlement Process established by Commission Order No. G-109-07. No registered intervenors or customers participated in the settlement discussions. L Enclosed is a draft of the Negotiated Settlement Agreement for Central Heat's 2007 Application along with supporting documents. The adjustments to the 2007 Application as agreed pursuant to the settlement discussions have been incorporated into two (2) regulatory models. The first model shows a 2007 net revenue deficiency of $424,846 (613,246 - 188,400), and an average increase of 7.288 percent. The other model shows the average rate increasing by 1.329 percent (8.617 - 7.288) in each of the years 2008 and 2009, effective January 1 for the phasing in of the two additional employees, which more specifically results in a 8.617 percent (7.288 + 1.329) increase for 2008, and a 9.946 percent (8.617 +1.329) increase for 2009 above the current permanent rates. Please review the drafted Negotiated Settlement Agreement and provide your suggested edits in writing with a copy to Stuart Mah by Tuesday, October 9,2007. SMIrt Enclosure PF/CHDL-2005 Revenue Requirements (CHDL_2007RR)/Gen Cor/Draft Negotiated Settlement Agreement APPENDIX A to Order No. G-125-07 Page 1 of 13 SIXTH FLDOR,*900H OWE STREET,B OX 250 VANCOUVER, B.C. CANADA V6Z 2N3 TELEPHONE: (604) 660-4700 BC TOLL FREE: 1-800-663-1385 F A C S U (604) 6601102 Log No. 21739 October 4,2007 e a p ) Yours truly,
APPENDIX A to Order No. G-125-07 Page 2 of 13 Central Heat Distribution Limited 2007 Revenue Requirements Application Negotiated Settlement Agreement Issues Resolution References 1. Labour costs, $1,608,095, increase of 23% from 2006 B-1, Tab 6, p. 6-7 $132,755 increase in Plant Wages and Supervision Additional 2 employees B-1, Tab 6, p. 6-7 $162,252 increase in Service Line Wages. accepted by phasing 1 B-3, Tab 7, p. 3 Increase is partly explained by average number of employee in 2008 ($77,500) employees forecasted to increase from 22.25 to 24.25. and 1 employee in 2009 Actual average number of employees from January to ($77,500). To avoid review September 2007 were 22 in 2008 and 2009, the dollar impact of each employee will be set as a specific dollar change to the tariff. CHDL may apply for other rate changes at its discretion. Includes one-time costs of retro-pay ($30,890) and signing Spread out one-time costs B-3, Tab 7, p.2 bonus ($24,000) over 2007 and 2009. 2. Energy Services Agreement B- 1, Tab 10, Energy Services Agreement Resolution to accounting treatment and energy cost savings Accept agreement until the allocation (75125) of the ECE Contract Term ends on December 31,2019 with adjustment to ROE. After December 3 1,2019, the asset will be owned by CHDL at no cost and with all energy savings passed on to the customers. Any future stacks will be B-3, Tab 5, pp. 4-5 done as utility projects. B-4, Tab 3, pp. 1-4 Strawman - after NSPJds
APPENDIX A to Order No. G-125-07 Page 3 of 13 Central Heat Distribution Limited 2007 Revenue Requirements Application Negotiated Settlement Agreement Issues Resolution References 3. Risk Premium RSAM consideration would give reason to further lower RSAM not accepted at this B-1, Tab 8, p. 8-1 the risk premium in place time. CHDL identifies that B-3, Tab 10, p. 1 due to DSM and available options that CHDL has experienced declining consumption over the years from existing customers, and may, if necessary, seek approval for RSAM in a future filing. CHDL uses a risk premium of 33 bp (8.70%-8.37%),w hile For the Contract Term up to B-1, Tab 2, Executive Summary the Application refers to CHDL's 2003 Rate Application December 31,2019, reduce B-1, Tab 8, p. 8.1 that included a risk premium of 100 bp ROE risk premium to 50 bp. B-3, Tab 10, p. 1 After December 31,2019, the ROE risk premium will revert to 100 bp. CHDL may wish to have an ROE automatic adjustment clause like Terasen but chooses to decline this option for the current application. 4. Exemption from Regulation CHDL may consider making B-3, Tab 10, p. 1 an application for exemption from regulation to be reviewed in a public hearing. CHDL was advised that they are the only district energy company in Canada that is subject to cost of service regulation. Furthermore, customers are given increasing options that affect service usage. , Strawman - after NSP.xls
Central Heat Distribution Limited 2007 Revenue Requirements Application Negotiated Settlement Agreement Issues 5. Pass Through Items Items quallfylng as Pass Through, or Exogenous Factors include judicial, legislative or administrative changes, orders or directions, catastrophic events, bypass or similar events, major seismic incident, acts of war, terrorism or violence, changes in generally accepted accounting principles, standards and policies, changes in revenue requirements due to Commission directions Straman - after NSP.xls APPENDIX A to Order No. G-125-07 Page 4 of 13 Resolution References CHDL may apply for pass through recovery of a rise in price over which the utility has no effective control pursuant to Section 61( 4) of the Utilities Commission Act.
APPENDIX A CENTRAL HEAT DISTRIBUTION LIMITED Schedule I to Order No. G-125-07 Utility Income and Earned Return Page 5 of 13 for the year ending December 31, 2007 2007 Rate Commission Adjusted Application Adjustments Balances SALES VOLUME - M# 1,061,084 0 1,061,084 Present avg rate per M# $5.494 $5.494 Avg rates after interim increase $6.072 $5.894 Avg percentage increase in rate 10.519% 7.288% UTILITY REVENUE Steam Sales - present rates $5,829,637 0 $5,829,637 - interim rates 613,246 [2] 613,246 Other Income 18,500 18,500 Fuel Cost Recovery 16,198,111 16,198,111 Revenue Adjustment -188,400 [2] -188,400 ----------------- ----------------REVENUE REQUIREMENT 22,659,494 22,471,094 ----------------- ----------------EXPENSES Fuel - natural gas 16,082,060 0 16,082,060 - oil 795,808 0 795,808 Steam Variable Costs 519,399 0 519,399 Labour costs 1,608,095 -209,890 [3] 1,398,205 Employee Benefits 386,086 0 386,086 General Admin. and office 298,965 0 298,965 Taxes other than income tax 466,697 0 466,697 Amortization 662,675 0 662,675 Amortization of Deferral Accou 0 18,297 [1] 18,297 Other operating and mtce. 200,510 0 200,510 ----------------- -----------------21,020,295 20,828,702 ----------------- ----------------Utility Income before Taxes 1,639,199 1,642,392 Income Tax 245,213 232,898 ----------------- ----------------EARNED RETURN $1,393,986 $1,409,494 ========== ========== UTILITY RATE BASE $19,859,531 $19,877,827 ========== ========== RETURN ON RATE BASE 7.02% 7.09% =========== =========== [1] To record amortization of deferral accounts. [2] Net revenue deficiency= $424,846 [3] To remove $155,000 for staff additions not occuring in 2007. To amortize the retro-pay of $30,890 and signing bonus of $24,000 over the remaining 3 years of the union agreement. CHDL 07 Schedules - with Strawman effect.XLS 2007-10-16
CENTRAL HEAT DISTRIBUTION LIMITED Utility Rate Base for the year ending December 31, 2007 2007 Rate Commission Application Adjustments ___________ ___________ Gross plant in service Beginning of Year $28,712,256 0 Additions 3,000,000 0 [1] Gross plant in service End of Year 31,712,256 Accumulated Depreciation End of Year 10,998,324 0 Net Plant in Service End of Year 20,713,932 0 Net Plant in Service Beginning of Year 18,376,607 ----------------- Net Plant in Service Mid-Year 19,545,270 Plant in service # of months 0 Reduction in value of plant -34,812 0 Contributions and grants -342,386 Deferral accounts 0 18,297 [1] Working capital allowance 691,459 0 ----------------- $19,859,531 TOTAL RATE BASE ========== [1] To add mid-year deferral account balance: Deferral Accounts Opening Additions Amortization Closing Retro-Pay $0 30,890 Signing Bonus 0 24,000 Total $0 54,890 CHDL 07 Schedules - with Strawman effect.XLS APPENDIX A Schedule II to Order No. G-125-07 Page 6 of 13 Adjusted Balances ___________ $28,712,256 $3,000,000 31,712,256 10,998,324 20,713,932 18,376,607 ----------------19,545,270 0 -34,812 -342,386 18,297 691,459 -----------------$19,877,827 ========== Mid-Year Balance 10,297 20,593 $10,297 8,000 16,000 8,000 18,297 36,593 $18,297 2007-10-16
CENTRAL HEAT DISTRIBUTION LIMITED Calculation of Income Taxes on Utility Income for the Year Ending December 31, 2007 2007 Rate Commission Application Adjustments __________ ___________ Utility Income before Taxes $1,639,199 Deduct: interest on debt -686,000 -2,694 [1] ----------------- ----------------- Before Tax Accounting Income 953,199 ----------------- ----------------- Add: Depreciation 662,675 0 Club Dues 6,000 Charitable Donations 200 0 Political Donations 0 Life Insurance Premium 1,350 0 Large Corporation Tax 0 Deferral Account Amort 0 18,297 [2] Non-deductible expense 10,000 ----------------- 680,225 ----------------- Deduct: Capital Cost Allowance 891,270 0 Cumulative Eligible Cap Dedu 475 Capitalized Overhead 23,000 0 Deferral Account Additions 0 54,890 [2] ----------------- 914,745 ----------------- Net Income for Tax Purposes 718,679 Tax @ 38% 273,098 Federal Tax Abatement @ 10% -71,868 General Tax Reduction @ 7% -50,308 Provincial Tax @ 12.0% 86,241 Corporate Surtax @ 4% 8,049 INCOME TAXES PAYABLE $245,213 [1] Interest on debt equals forecast interest expense from Application Tab 8, p. 8-2. [2] To deduct deferral account additions and add deferral account amortization CHDL 07 Schedules - with Strawman effect.XLS APPENDIX A Schedule III to Order No. G-125-07 Page 7 of 13 Adjusted Balances ___________ $1,642,392 -688,694 ----------------953,698 ----------------662,675 6,000 200 0 1,350 0 18,297 10,000 -----------------698,522 ----------------891,270 475 23,000 54,890 -----------------969,635 ----------------682,585 259,382 -68,258 -47,781 81,910 7,645 $232,898 2007-10-16
CENTRAL HEAT DISTRIBUTION LIMITED Common Equity as at December 31, 2007 2007 Rate Commission Application Adjustments Share Capital - Dec. 31/06 17,200 Retained Earnings - Dec. 31/06 7,095,737 Common Equity - Dec. 31/06 7,112,937 Earned Return 1,393,986 15,509 Less: Dividends -510,336 Interest -686,000 -2,694 Common Equity - Dec. 31/07 7,310,587 12,815 Mid- Year Common Equity 7,211,762 6,407 CENTRAL HEAT DISTRIBUTION LIMITED Return on Capital for the year ending December 31, 2007 Commission Capitalization 2007 Rate Application Capitalization Adjustments Amount Short Term Debt 2,147,769 $0 Long Term Debt 10,500,000 10,500,000 Deemed Long Term Debt 0 Preference Shares 0 Common Equity 7,211,762 0 ___________ ___________ ___________ $19,859,531 $19,859,531 ========== ========== ========== [1] Commission Capitalization Adjusted Balances by BCUC Capitalization Adjustments Amount Short Term Debt 2,166,065 -6,407 Long Term Debt 10,500,000 0 10,500,000 Deemed Long Term Debt 0 Preference Shares 0 Common Equity 7,211,762 6,407 ___________ ___________ ___________ $19,877,827 $0 $19,877,827 ========== ========== ========== [1] Adjusted to balance capital structure [2] To adjust rate of return on equity to 8.87% CHDL 07 Schedules - with Strawman effect.XLS APPENDIX A to Order No. G-125-07 Schedule IV Page 8 of 13 Adjusted Balances 17,200 7,095,737 7,112,937 1,409,494 -510,336 -688,694 7,323,401 7,218,169 Schedule V % Average Cost Percentage % Embedded Cost Component % 2,147,769 10.81 6.04 0.65 [1] 52.87 6.08 3.21 0 0.00 0.00 0.00 0 0.00 0.00 0.00 7,211,762 36.31 8.70 3.16 ____________ 100.00 7.02 =========== Exhibit 31 % Average Cost Percentage % Embedded Cost Component % 2,159,658 10.86 6.04 0.66 [1] 52.82 6.08 3.21 0 0.00 0.00 0.00 0 0.00 0.00 0.00 7,218,169 36.31 8.87 3.22 [2] ____________ 100.00 7.09 =========== 2007-10-16
APPENDIX A CENTRAL HEAT DISTRIBUTION LIMITED Schedule I to Order No. G-125-07 Utility Income and Earned Return Page 9 of 13 for the year ending December 31, 2007 Additional Employee Rate Impact 2007 Rate Commission Adjusted Application Adjustments Balances SALES VOLUME - M# 1,061,084 0 1,061,084 Present avg rate per M# $5.494 $5.494 Avg rates after interim increase $6.072 $5.967 Avg percentage increase in rates 10.519% 8.617% UTILITY REVENUE Steam Sales - present rates $5,829,637 0 $5,829,637 - interim rates 613,246 [2] 613,246 Other Income 18,500 18,500 Fuel Cost Recovery 16,198,111 16,198,111 Revenue Adjustment -110,900 [2] -110,900 ----------------- ----------------REVENUE REQUIREMENT 22,659,494 22,548,594 ----------------- ----------------EXPENSES Fuel - natural gas 16,082,060 0 16,082,060 - oil 795,808 0 795,808 Steam Variable Costs 519,399 0 519,399 Labour costs 1,608,095 -132,390 [3] 1,475,705 Employee Benefits 386,086 0 386,086 General Admin. and office 298,965 0 298,965 Taxes other than income tax 466,697 0 466,697 Amortization 662,675 0 662,675 Amortization of Deferral Account 0 18,297 [1] 18,297 Other operating and mtce. 200,510 0 200,510 ----------------- -----------------21,020,295 20,906,202 ----------------- ----------------Utility Income before Taxes 1,639,199 1,642,392 Income Tax 245,213 232,898 ----------------- ----------------EARNED RETURN $1,393,986 $1,409,494 ========== ========== UTILITY RATE BASE $19,859,531 $19,877,827 ========== ========== RETURN ON RATE BASE 7.02% 7.09% =========== =========== [1] To record amortization of deferral accounts. [2] Net revenue deficiency= $502,346 [3] To remove $155,000 for staff additions not occuring in 2007 and to add one staff addition of $77,500 for each of 2008 and 2009. To amortize the retro-pay of $30,890 and signing bonus of $24,000 over the remaining 3 years of the union agreement. CHDL 07 Schedules - with Strawman effect - individual 2008 and 2009.XLS 2007-10-16
APPENDIX A CENTRAL HEAT DISTRIBUTION LIMITED Schedule II to Order No. G-125-07 Utility Rate Base for the year ending December 31, 2007 Page 10 of 13 2007 Rate Commission Adjusted Application Adjustments Balances ___________ ___________ ___________ Gross plant in service Beginning of Year $28,712,256 0 $28,712,256 Additions 3,000,000 0 [1] $3,000,000 Gross plant in service End of Year 31,712,256 31,712,256 Accumulated Depreciation End of Year 10,998,324 0 10,998,324 Net Plant in Service End of Year 20,713,932 0 20,713,932 Net Plant in Service Beginning of Year 18,376,607 18,376,607 ----------------- ----------------Net Plant in Service Mid-Year 19,545,270 19,545,270 Plant in service # of months 0 0 Reduction in value of plant -34,812 0 -34,812 Contributions and grants -342,386 -342,386 Deferral accounts 0 18,297 [1] 18,297 Working capital allowance 691,459 0 691,459 ----------------- -----------------$19,859,531 $19,877,827 TOTAL RATE BASE ========== ========== [1] To add mid-year deferral account balance: Deferral Accounts Opening Additions Amortization Closing Mid-Year Balance Retro-Pay $0 30,890 10,297 20,593 $10,297 Signing Bonus 0 24,000 8,000 16,000 8,000 Total $0 54,890 18,297 36,593 $18,297 CHDL 07 Schedules - with Strawman effect - individual 2008 and 2009.XLS 2007-10-16
CENTRAL HEAT DISTRIBUTION LIMITED Calculation of Income Taxes on Utility Income for the Year Ending December 31, 2007 2007 Rate Commission Application Adjustments __________ ___________ Utility Income before Taxes $1,639,199 Deduct: interest on debt -686,000 -2,694 [1] ----------------- ----------------- Before Tax Accounting Income 953,199 ----------------- ----------------- Add: Depreciation 662,675 0 Club Dues 6,000 Charitable Donations 200 0 Political Donations 0 Life Insurance Premium 1,350 0 Large Corporation Tax 0 Deferral Account Amort 0 18,297 [2] Non-deductible expense 10,000 ----------------- 680,225 ----------------- Deduct: Capital Cost Allowance 891,270 0 Cumulative Eligible Cap Deducti 475 Capitalized Overhead 23,000 0 Deferral Account Additions 0 54,890 [2] ----------------- 914,745 ----------------- Net Income for Tax Purposes 718,679 Tax @ 38% 273,098 Federal Tax Abatement @ 10% -71,868 General Tax Reduction @ 7% -50,308 Provincial Tax @ 12.0% 86,241 Corporate Surtax @ 4% 8,049 INCOME TAXES PAYABLE $245,213 [1] Interest on debt equals forecast interest expense from Application Tab 8, p. 8-2. [2] To deduct deferral account additions and add deferral account amortization CHDL 07 Schedules - with Strawman effect - individual 2008 and 2009.XLS APPENDIX A Schedule III to Order No. G-125-07 Page 11 of 13 Adjusted Balances ___________ $1,642,392 -688,694 ----------------953,698 ----------------662,675 6,000 200 0 1,350 0 18,297 10,000 -----------------698,522 ----------------891,270 475 23,000 54,890 -----------------969,635 ----------------682,585 259,382 -68,258 -47,781 81,910 7,645 $232,898 2007-10-16
CENTRAL HEAT DISTRIBUTION LIMITED Common Equity as at December 31, 2007 2007 Rate Commission Application Adjustments Share Capital - Dec. 31/06 17,200 Retained Earnings - Dec. 31/06 7,095,737 Common Equity - Dec. 31/06 7,112,937 Earned Return 1,393,986 15,509 Less: Dividends -510,336 Interest -686,000 -2,694 Common Equity - Dec. 31/07 7,310,587 12,815 Mid- Year Common Equity 7,211,762 6,407 CENTRAL HEAT DISTRIBUTION LIMITED Return on Capital for the year ending December 31, 2007 Commission Capitalization 2007 Rate Application Capitalization Adjustments Amount Short Term Debt 2,147,769 $0 2,147,769 Long Term Debt 10,500,000 10,500,000 Deemed Long Term Debt 0 Preference Shares 0 Common Equity 7,211,762 0 7,211,762 ___________ ___________ ___________ $19,859,531 $19,859,531 ========== ========== ========== [1] Commission Capitalization Adjusted Balances by BCUC Capitalization Adjustments Amount Short Term Debt 2,166,065 -6,407 2,159,658 Long Term Debt 10,500,000 0 10,500,000 Deemed Long Term Debt 0 Preference Shares 0 Common Equity 7,211,762 6,407 7,218,169 ___________ ___________ ___________ $19,877,827 $0 $19,877,827 ========== ========== ========== [1] Adjusted to balance capital structure [2] To adjust rate of return on equity to 8.87% CHDL 07 Schedules - with Strawman effect - individual 2008 and 2009.XLS APPENDIX A to Order No. G-125-07 Schedule IV Page 12 of 13 Adjusted Balances 17,200 7,095,737 7,112,937 1,409,494 -510,336 -688,694 7,323,401 7,218,169 Schedule V % Average Cost Percentage % Embedded Cost Component % 10.81 6.04 0.65 [1] 52.87 6.08 3.21 0 0.00 0.00 0.00 0 0.00 0.00 0.00 36.31 8.70 3.16 ____________ 100.00 7.02 =========== Exhibit 31 % Average Cost Percentage % Embedded Cost Component % 10.86 6.04 0.66 [1] 52.82 6.08 3.21 0 0.00 0.00 0.00 0 0.00 0.00 0.00 36.31 8.87 3.22 [2] ____________ 100.00 7.09 =========== 2007-10-16
f CENTRAL HEAT DISTRIBUTION LIMITED APPENDIX A ' VANCOUVER DISTRICT ENERGY UTILITY to Order No. G-125-07 Su~te1 , 720 Beatty Street, Vancouver, BC V6B 2M1 Page 13 of 13 Tel 604-688-9584 Fax 604-688-2213 E-marl chdl@telus net October 4, 2007 &tzt;<: , a302 B. C. Utilities Commission Box 250, Sixth Floor, 900 Howe Street, R L J8 L-~~ 9~5- %bk - --- Vancouver, B.C. V6Z 2N3 ---- -- - -- -- - - -- Attention: Mr. William J. Grant, Transition Advisor, Renulatorv Affairs & Planning Dear Mr. Grant: Re: Central Heat 2007 Revenue Application Further to your letter of October 4, 2007, we have reviewed the draft Negotiated Settlement Agreement. Central Heat agrees with details of the Settlement Agreement attached to your letter. We appreciate the effort by the Commission in considering the Application and in working towards a Settlement. Yours truly, CENTRAL HEAT DISTRIBUTION LIMITED ~ ohn S. Barnes, President and General Manager cc: dhr . P. W. Nakoneshny Mr. Stuart Mah
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