IN THE MATTER OF
the Utilities Commission Act, R.S.B.C. 1996, Chapter 473
and
An Application by AltaGas Energy Limited Partnership
For Renewal of its Gas Marketer Licence
BEFORE: A.A. Rhodes, Commissioner August 19, 2010
D.A. Cote, Commissioner
O R D E R
WHEREAS:
A. On August 17, 2010, AltaGas Energy Limited Partnership (AltaGas) made a late application to the British Columbia Utilities Commission (Commission) for a renewal of its Gas Marketer Licence, set to expire on August 22, 2010. The application for renewal of its Licence to Market Natural Gas (Application) included the payment of the $1,000 Application Fee and a $250,000 Letter of Credit, pursuant to items 2 and 3 respectively, of the Licence Requirements; and
B. The Commission reviewed the late Application on an expedited basis and note that in addition to not filing the renewal Application in a timely manner, the Application did not include financial statements for the licence holder, AltaGas Energy Limited Partnership, pursuant to the Licence Requirements; and
C. The Commission has reviewed AltaGas’s renewal Application and relying upon the information and representations made by AltaGas, finds that given its current sophisticated customer base, lack of complaints or disputes, as well as its good financial position in previous licence years, renewal of its Gas Marketer Licence, subject to conditions, is warranted pending receipt of additional information to comply with the Licence Requirements.
NOW THEREFORE pursuant to section 71.1(6) of the Utilities Commission Act the Commission orders as
follows:
1. The Commission issues to AltaGas a Gas Marketer Licence for the period of August 19, 2010 to
November 19, 2010.
2. AltaGas must file stand-alone audited financial statements, for the licence holder, for the recently concluded year, as well as unaudited quarterly statements for each concluded financial quarter following the most recently ended fiscal year, pursuant to Item 5 of the Licence Requirements. These statements must be received by the Commission by November 1, 2010.
3. The Gas Marketer Licence is subject to the following conditions:
a. AltaGas will carry out the undertakings as set out in the Application for a Licence to Market Natural Gas dated August 17, 2010 and the Rules for Gas Marketers.
b. AltaGas will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Terasen Gas Inc.
c. AltaGas will maintain a Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence.
d. AltaGas will maintain a Working Capital position of at least $50,000 and a Current Ratio of Assets to Liabilities of at least 1.10.
e. The Commission may, at any time and without prior notice to AltaGas, 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.
f. The Gas Marketer Licence and all copies of it shall remain the property of the Commission and AltaGas will return these documents forthwith upon written request from the Commission.
g. AltaGas 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. AltaGas 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 19 day of August 2010.
BY ORDER
Original signed by:
A.A. Rhodes
Commissioner
Attachment
|
|
Licence No. A-16-10 |
|
GAS MARKETER LICENCE
AltaGas Energy Limited Partnership
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 A-16-10, which are set out in the reverse of the Licence.
BRITISH COLUMBIA UTILITIES COMMISSION
Original signed by: A. A. Rhodes, Commissioner
ISSUED: August 19, 2010 EXPIRES: November 19, 2010
(1) As described in the Rules for Gas Marketers |
|
|
The Gas Marketer Licence is subject to the following conditions:
3.1 AltaGas will carry out the undertakings as set out in the Application for a Licence to Market Natural Gas dated August 17, 2010 and the Rules for Gas Marketers.
3.2 AltaGas will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Terasen Gas Inc.
3.3 AltaGas will maintain a Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence.
3.4 AltaGas will maintain a Working Capital position of at least $50,000 and a Current Ratio of Assets to Liabilities of at least 1.10.
3.5 The Commission may, at any time and without prior notice to AltaGas, 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.
3.6 The Gas Marketer Licence and all copies of it shall remain the property of the Commission and AltaGas will return these documents forthwith upon written request from the Commission.
3.7 AltaGas 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. AltaGas 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.
|
|