E-5-95 SIXTH FLOOR, 900 HOWE STREET, BOX 250 TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 BC TOLL FREE: 1-800-663-1385 CANADA FACSIMILE: (604) 660-1102 AN ORDER IN THE MATTER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended and An Application by Pacific Northern Gas Ltd. for Approval of Gas Supply Contract Amendment Price Arrangements BEFORE: M.K. Jaccard, Chairperson; and ) L.R. Barr, Deputy Chairperson ) February 9, 1995 ORDER WHEREAS: A. On January 13, 1995 Pacific Northern Gas Ltd. ("PNG") applied to the Commission for approval of amended Gas Supply Pricing Arrangements with CanWest Gas Supply Inc. ("CanWest") under its Gas Purchase Contract dated November 1, 1991; and B. The prices agreed to are contained in a December 2, 1994 Letter Agreement with CanWest and cover the gas contract years commencing November 1st of 1994, 1995 and 1996; and C. The Commission has reviewed the filing and is satisfied that the gas supply pricing arrangements should be approved. NOW THEREFORE pursuant to Section 85.3 of the Utilities Commission Act and the Rules, the Commission orders the following for PNG: 1. The Letter Agreement dated December 2, 1994 with CanWest which establishes gas supply pricing arrangements for the 1994/95, 1995/96 and 1996/97 gas contract years is approved. 2. As part of its 1995/96 Gas Contracting Plan, which is to be approved by the Commission prior to the start of 1995/96 price negotiations, PNG is directed to discuss its price-risk management strategy, including the use of financial instruments to hedge gas price, basis differential, and currency exchange rate. DA TED at the City of Vancouver, in the Province of British Columbia, this day of February, 1995. BY ORDER Dr. Mark K. Jac:caI'd Chairperson OrdersIPNG-SplyCntrctAmdmt&PriceAgrmts
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