Suite 410, 900 Howe Street Vancouver, BC Canada V6Z 2N3 bcuc.com
P: 604.660.4700 TF: 1.800.663.1385 F: 604.660.1102
ORDER NUMBER G-210-23
IN THE MATTER OF the Utilities Commission Act, RSBC 1996, Chapter 473
and FortisBC Inc. Expand and Extend the Term Credit Agreement
BEFORE: B. A. Magnan, Commissioner
WHEREAS:
on August 4, 2023 ORDER
A. On July 14, 2023, FortisBC Inc. (FBC) applied to the British Columbia Utilities Commission (BCUC) pursuant to sections 50(2) and 50(3) of the Utilities Commission Act for approval to increase the principal amount of FBC’s existing operating credit facility agreement (Facility A) by $ , from $150 million to $ . FBC also requested an approval to execute a 364-day extension to the current maturity date of Facility A and Facility B (Application);
B. On August 2, 2023, FBC filed additional information in response to BCUC staff questions; C. FBC requests the Application be held confidential on the basis that it contains commercially sensitive information. FBC also requests that the BCUC either omit or redact the specific amounts related to the principal amount before making the order public;
D. By Orders G-77-04, G-73-05, G-59-11, G-48-15, G-57-17, and G-211-21, the BCUC approved FBC’s applications related to various amendments to FBC’s credit facility agreement (Credit Agreement) for Facility A and Facility B of certain amounts and maturity dates;
E. By Order G-59-11 dated March 24, 2011, among other matters, the BCUC approved FBC’s request to extend the maturity date of the Credit Agreement for not greater than 364 days without further BCUC approval where there are no other material changes to the Credit Agreement; and
F.
The BCUC has reviewed the Application and finds that approvals are warranted.
NOW THEREFORE pursuant to sections 50(2) and 50(3) of the Utilities Commission Act the BCUC orders as follows:
Final Order
1 of 2
1. FBC’s application to increase the principal amount of Facility A by $ , is approved.
Order G-210-23
, from $150 million to $
2. FBC’s application to extend the maturity dates of Facility A and Facility B for a further 364 days is approved. 3. FBC is directed to file the executed amendment of the Credit Agreement with the BCUC no later than 10 days from the date of the execution.
4. The BCUC will keep confidential the approved principal amount and associated increase, pending further direction from the BCUC. FBC is directed to include in its filing pursuant to Directive 3, an explanation on why the approved principal amount and the associated increase as referenced in this order should be kept confidential, in accordance with the BCUC’s Rules of Practice and Procedure.
5. The BCUC will keep confidential the Application and related filings, as they contain commercially sensitive information.
DATED at the City of Vancouver, in the Province of British Columbia, this 8th day of August 2023. BY ORDER Original signed by: B. A. Magnan Commissioner
Final Order
2 of 2