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 FortisBC Inc. for Approval To Issue Additional Common Shares BEFORE: L.F. Kelsey, Commissioner P.E. Vivian, Commissioner O R D E R WHEREAS: A. On April 21, 2008 FortisBC Inc. (“FortisBC” or “Company”) filed an application with the Commission for approval to issue up to 250,000 authorized $100 par value common shares for a total of up to $25 million on or before December 31, 2008 (the “Application”); and B. FortisBC has included with the Application an authorized copy of the Board of Directors resolution approving the share issuance; and C. FortisBC’s rates are currently subject to regulation using a deemed capital structure of 60 percent debt and 40 percent equity. The infusion of equity will maintain the common equity ratio at 40 percent; and D. The Commission has reviewed the Application together with the supporting information provided and finds that approval is warranted. NOW THEREFORE pursuant to Section 50 of the Utilities Commission Act, the Commission approves for FortisBC Inc. the issuance of up to 250,000 authorized $100 par value common shares to Fortis Pacific Holdings Ltd. for a total value of up to $25 million on or before December 31, 2008. DATED at the City of Vancouver, in the Province of British Columbia, this 24 G-75-08_FortisBC_Issue Additional Common Shares BRITISH COL UMBIA UTILITIES COM MISSION ORDER NUMBER G -75-08 TELEPHONE: (604) 660-4700 BC TOLL FREE: 1-800-663-1385 FACSIMILE: (604) 660-1102 April 24, 2008 th day of April 2008. BY ORDER Original signed by L. F. Kelsey Commissioner
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