Orders

IN THE MATTER OF

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

and

An Application by Planet Energy (B.C.) Corp.

for renewal of its Gas Marketer Licence

under the Customer Choice Program

BEFORE:               L.F. Kelsey, Commissioner                                           October 29, 2010

O  R  D  E  R

WHEREAS:

A.    On August 31, 2010, Planet Energy (B.C.) Corp. (Planet Energy) applied to the British Columbia Utilities Commission (Commission) for renewal of its Gas Marketer Licence (Application).  The Application included the payment of the $1,000 Application Fee pursuant to item 2 of the Licence Requirements;

B.    On October 28, 2010, Planet Energy filed an amendment to its $250,000 Letter of Credit extending its validity to October 31, 2011, pursuant to item 3, of the Licence Requirements;

C.    The Commission has reviewed Planet Energy’s Application and relying upon the information and representations made by Planet 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 Planet Energy a Gas Marketer Licence for the period November 1, 2010 to

October 31, 2011.

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

a.        Planet Energy will carry out the undertakings as set out in the Application for a Gas Licence to Market Natural Gas dated August 31, 2010.

b.        Planet Energy will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Terasen Gas Inc.  Planet 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 and Planet Energy shall be responsible for any non-compliance of its employees, salespersons or other representatives of its products and services.

c.         Planet Energy will maintain a $250,000 Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence.

d.        Planet Energy 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.

e.        The Commission may, at any time and without prior notice to Planet 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.

f.         The Gas Marketer Licence and all copies of it shall remain the property of the Commission and Planet Energy will return these documents forthwith upon written request from the Commission.

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

DATED at the City of Vancouver, in the Province of British Columbia, this          29^th             day of October 2010.

                                                                                                                                BY ORDER

                                                                                                                                Original signed by:

                                                                                                                                L.F. Kelsey

                                                                                                                                Commissioner

Attachment