IN THE MATTER OF
the Utilities Commission Act, R.S.B.C. 1996, Chapter 473
and
FortisBC Energy Inc.
Application for Approval to Issue Common Shares
BEFORE: L. F. Kelsey, Commissioner
H. G. Harowitz, Commissioner
K. A. Keilty, Commissioner
I. F. MacPhail, Commissioner April 23, 2015
B. A. Magnan, Commissioner
D. M. Morton, Commissioner
R. D. Revel, Commissioner
O R D E R
WHEREAS:
A. On April 7, 2015, FortisBC Energy Inc. (FEI) filed with the British Columbia Utilities Commission (Commission) pursuant to section 50(2) of the Utilities Commission Act (Act), an application for approval to issue common shares for $85 million, expected to be issued on or before May 31, 2015 (Application);
B. The issuance of common shares is required for FEI’s ongoing capital expenditure program and to ensure that FEI maintains its Commission approved common equity component of its capital structure at 38.5 percent, pursuant to Orders G-75-13 and G-47-14; and
C. The Commission reviewed the Application and finds that approval is warranted.
NOW THEREFORE pursuant to sections 50(2) of the Utilities Commission Act, the British Columbia Utilities Commission grants approval for FortisBC Energy Inc. to issue common shares in the amount of $85 million.
DATED at the City of Vancouver, in the Province of British Columbia, this 24th day of April 2015.
BY ORDER
Original signed by:
D. Morton
Commissioner