Orders

IN THE MATTER OF

the Utilities Commission Act, R.S.B.C. 1996, Chapter 473

and

An Application by Bluestream Energy Inc.

for Approval of its Initial Gas Marketer Licence

BEFORE:                               D.A. Cote, Commissioner                             May 20, 2010

O  R  D  E  R

WHEREAS:

A.    On April 2, 2010 Bluestream Energy Inc. (Bluestream Energy) applied to the British Columbia Utilities Commission (Commission) for approval of an initial Gas Marketer Licence (Application).  The Application included the payment of the $1,000 Application Fee, pursuant to item 2 of the Licence Requirements; and

B.    On May 14, 2010 Bluestream Energy provided a Letter of Credit in the amount of $250,000, pursuant to item 3 of the Licence Requirements; and

C.    The Commission has reviewed Bluestream Energy’s Application and relying upon the information and representations made by Bluestream Energy, finds that approval of a 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 Bluestream Energy a Gas Marketer Licence for the period May 20, 2010 to October 31, 2010.

2.       The Gas Marketer Licence is subject to the following conditions:

2.1      Bluestream Energy will carry out the undertakings as set out in the Application for a Gas Licence to Market Natural Gas dated April 2, 2010 and the Rules for Gas Marketers.

2.2      Bluestream Energy will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Terasen Gas Inc.

2.3      Bluestream Energy will maintain a Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence.

2.4      Bluestream Energy will maintain a Working Capital position of at least $50,000 and a Current Ratio of assets to liabilities of at least 1.10.

2.5      The Commission may, at any time and without prior notice to Bluestream Energy, amend or impose new terms and conditions on, suspend, or cancel 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 Bluestream Energy will return these documents forthwith upon written request from the Commission.

2.7      Bluestream Energy must file with the Commission unaudited monthly financial statements no later than 30 days after the end of the relevant month.

2.8      Bluestream Energy shall ensure that its employees, salespersons or other representatives of its products and services comply with the standards required of a Gas Marketer as set out in the Code of Conduct for Gas Marketers.  Bluestream Energy shall be responsible for the non-compliance of its employees, salespersons or other representatives of its products and services with the Code of Conduct for Gas Marketers.

DATED at the City of Vancouver, in the Province of British Columbia, this               20^th                 day of May 2010.

                                                                                                                                BY ORDER

                                                                                                                                Original signed by:

                                                                                                                                D.A. Cote

                                                                                                                                Commissioner

Attachment