IN THE MATTER OF
the Utilities Commission Act, R.S.B.C. 1996, Chapter 473
and
An Application by Cascadia Energy Ltd.
for Renewal of its Gas Marketer Licence
under the Customer Choice Program
BEFORE: L.F. Kelsey, Commissioner October 14, 2010
D.A. Cote, Commissioner
O R D E R
WHEREAS:
A. On August 25, 2010, Cascadia Energy Ltd. (Cascadia 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. Cascadia Energy has previously filed a Letter of Credit in the amount of $250,000, pursuant to item 3 of the Licence Requirements;
B. The Commission has reviewed Cascadia Energy’s Application and relying upon the information and representations made by Cascadia Energy, finds that renewal of its 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 Cascadia 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. Cascadia Energy will carry out the undertakings as set out in the Application for a Gas Licence to Market Natural Gas dated August 25, 2010 and the Rules for Gas Marketers.
b. Cascadia Energy will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Terasen Gas Inc.
c. Cascadia Energy will maintain a $250,000 Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence.
d. Cascadia 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 Cascadia 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 Cascadia Energy will return these documents forthwith upon written request from the Commission.
g. Cascadia Energy will file with the Commission unaudited quarterly financial statements no later than 45 days after the end of the relevant quarter, pursuant to item 5 of the Licence Requirements.
h. Cascadia 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. Cascadia 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.
i. This Licence does not allow for Cascadia Energy to solicit residential customers under the Customer Choice Program. In order to market to residential customers, Cascadia Energy will need to apply for an amended Licence.
DATED at the City of Vancouver, in the Province of British Columbia, this 14th day of October 2010.
BY ORDER
Original signed by:
D.A. Cote
Commissioner
Attachment