ORDER NUMBER
G-65-18
IN THE MATTER OF
the Utilities Commission Act, RSBC 1996, Chapter 473
and
FortisBC Energy Inc.
An Application for Approval to Issue Common Shares
BEFORE:
B. A. Magnan, Commissioner
D. J. Enns, Commissioner
A. K. Fung, QC, Commissioner
H. G. Harowitz, Commissioner
M. Kresivo, QC, Commissioner
R. I. Mason, Commissioner
R. D. Revel, Commissioner
on March 22, 2018
ORDER
WHEREAS:
A. On March 2, 2018, FortisBC Energy Inc. (FEI) applied to the British Columbia Utilities Commission (the Commission) pursuant to section 50(2) of the Utilities Commission Act for approval to issue common shares in the amount of $40 million in order to maintain FEI’s Commission approved equity percentage (the Application);
B. FEI states the requirement to issue equity results from FEI’s upcoming capital expenditures, and ensures that FEI can maintain its currently approved capital structure for regulated purposes of 61.5 percent debt and 38.5 percent equity; and
C. The Commission has reviewed the Application and finds that approval is warranted.
NOW THEREFORE pursuant to section 50(2) of the Utilities Commission Act, the Commission approves FEI’s application to issue common shares in the amount of $40 million within 90 days of the date of this order.
DATED at the City of Vancouver, in the Province of British Columbia, this 22nd day of March 2018.
BY ORDER
Original signed by:
B. A. Magnan
Commissioner