ORDER NUMBER
G-140-17
IN THE MATTER OF
the Utilities Commission Act, RSBC 1996, Chapter 473
and
British Columbia Hydro and Power Authority
Regarding Commission Order G-96-04, Directive 8, Item 17
Quarterly Deferral Account Reports as Varied by Order G-112-14
BEFORE:
D. M. Morton, Commissioner
D. J. Enns, Commissioner
H. G. Harowitz, Commissioner
M. Kresivo, Commissioner
B. A. Magnan, Commissioner
R. I. Mason, Commissioner
R. D. Revel, Commissioner
on September 14, 2017
ORDER
WHEREAS:
A. On July 21, 2017, British Columbia Hydro and Power Authority (BC Hydro) applied to the British Columbia Utilities Commission (Commission) to vary Order G-112-14 to change the filing frequency of the Deferral Account Reports from semi-annual to annual reporting and include them in the BC Hydro Annual Report to the Commission (Application);
B. Heritage Special Direction 2 directed the Commission allow BC Hydro to establish the Heritage Payment Obligation Deferral Account, the Non‑Heritage Deferral Account and a Trade Income Deferral Account;
C. On October 29, 2004, the Commission issued Order G‑96‑04. Combined Directives 8, items 10, 11, and 12 approved BC Hydro’s request to establish the Heritage Payment Obligation Deferral Account, the Non‑Heritage Deferral Account and the Trade Income Deferral Account;
D. Order G-96-04, Directive 8, item 17 directed BC Hydro to file annual and quarterly reports in regards to the Heritage Payment Obligation Deferral Account (HDA), Non-Heritage Deferral Account (NHDA), and Trade Income Deferral Account (TIDA) (the Deferral Account Reports);
E. Separate from the Deferral Account Reports, BC Hydro also prepares and makes publically available quarterly interim financial statements which contain details of its deferral accounts including the HDA, the NHDA and the TIDA. These quarterly financial statements are prepared in accordance with the directive issued by the Provincial Treasury Board and follow the significant accounting policies that have been established based on financial reporting provisions prescribed by the Province pursuant to Section 23.1 of the Budget Transparency and Accountability Act and Section 9.1 of the Financial Administration Act;
F. On July 24, 2014, BC Hydro applied to the Commission for an order varying the directive to file the Deferral Account Reports (Order G-96-04, Directive 8, item 17) from quarterly reporting to semi-annual;
G. On August 8, 2014, the Commission issued Order G-112-14 varying Order G-96-04, Directive 8, item 17 and approved BC Hydro’s application to change the filing frequency from quarterly reporting to semi‑annual reporting; and
H. The Commission has reviewed the Application and has determined a variance to Order G-112-14 is warranted.
NOW THEREFORE pursuant to section 99 of the Utilities Commission Act, the Commission orders as follows:
1. Order G-112-14, is varied, effective September 14, 2017, such that BC Hydro must file an annual Deferral Account Report for the following deferral accounts:
• Heritage Payment Obligation Deferral Account;
• Non-Heritage Deferral Account; and
• Trade Income Deferral Account.
2. The annual Deferral Account Report is to be filed with the BC Hydro Annual Report to the Commission within four months following the end of the fiscal year and is to include the same level of detail as has been provided in the F2016 Annual Deferral Account Report filed with the Commission for the 12 months ending March 31, 2016.
DATED at the City of Vancouver, in the Province of British Columbia, this 15th day of September 2017.
BY ORDER
Original signed by:
D. M. Morton
Commissioner