November 8, 2017
Sent via email Letter L-30-17
Mr. Robert Hobbs
President and CEO
Creative Energy Vancouver Platforms Inc.
Suite 1 - 720 Beatty Street
Vancouver, BC V6B 2M1
info@creativeenergycanada.com
Re: Creative Energy Vancouver Platforms Inc. – 2017/18 Annual Contracting Plan – Request to Resubmit
Dear Mr. Hobbs:
On July 31, 2017, Creative Energy Vancouver Platforms Inc. (CEV), as requested in Letter L-19-16, submitted to the British Columbia Utilities Commission (Commission), on a confidential basis, CEV’s Annual Contracting Plan for the period of November 1, 2017 to October 31, 2018 (2017/18 ACP). The CEV 2017/18 ACP includes hedging strategies to enter into fixed forward price contracts for approximately 25 percent of its annual natural gas supply requirement.
The Commission reviewed the 2017/18 ACP in accordance with the Commission’s Rules for Natural Gas Energy Supply Contracts, as established in Order G-130-06. The Commission’s view is that CEV provided insufficient information on price targets of its fixed forward price contracts hedging strategy and other hedging components as set out in the 2017/18 ACP. Thus, the price risk management measures criteria of the ACP cannot be assessed at this time.
The Commission acknowledges receipt and partially accepts the 2017/18 ACP. CEV is requested to file an addendum to the ACP to address the price risk management component by Friday, December 15, 2017. CEV is encouraged to meet with Commission staff to discuss the additional information that should be included in the addendum.
The Commission notes that should there be any changes to the energy supply contract with Cascadia Energy Ltd., Creative Energy must submit the revised contract for approval to the Commission.
The Commission will hold confidential the 2017/18 ACP filing and related information filed in support of the 2017/18 ACP as they contain commercially sensitive information.
Sincerely,
Original signed by:
Patrick Wruck
Commission Secretary
AAS/kn