ORDER NUMBER
G-129-25
IN THE MATTER OF
the Utilities Commission Act, RSBC 1996, Chapter 473
and
FortisBC Inc.
Credit Facility Extension to 2030
BEFORE:
B. A. Magnan, Commissioner
on May 28, 2025
ORDER
WHEREAS:
A. On May 6, 2025, 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 of a two-year extension to the current maturity date of FBC’s existing credit agreement (Facility A) to April 24, 2030 (Application). FBC submits that the extension of the maturity date for Facility A will not affect the maturity date for Facility B which remains unchanged at April 19, 2024;
B. By Orders G-77-04, G-73-05, G-59-11, G-48-15, G-57-17, G-211-21 and G-210-23, the BCUC approved FBC’s applications related to various amendments to FBC’s existing credit agreement for Facility A and Facility B of certain amounts and maturity dates;
C. By Order G-59-11, 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;
D. By Order G-210-23, the BCUC approved the twelfth amending agreement to include a $50 million increase to the principal amount of Facility A for a total of $200 million, and a 364-day extension of the maturity date of Facility A to April 24, 2028, and Facility B to April 19, 2024;
E. FBC requests the Application, including Appendix A, be held confidential on the basis that it contains commercially sensitive information; and
F. The BCUC has reviewed the Application and finds that approval is warranted.
NOW THEREFORE pursuant to sections 50(2) and 50(3) of the Utilities Commission Act, the BCUC orders as follows:
1. FBC’s Application to extend the maturity date for Facility A by two years is approved.
2. FBC is directed to file the executed amendment of the existing credit agreement for Facility A with the BCUC no later than 10 days from the date of the execution.
3. The BCUC will keep confidential the Application and related filings, unless the BCUC determines otherwise.
DATED at the City of Vancouver, in the Province of British Columbia, this 28th day of May 2025.
BY ORDER
Electronically signed by Bernard Magnan
B. A. Magnan
Commissioner