SIXTH FLOOR, 900 HOWE STREET, BOX 250 VANCOUVER, B.C. V6Z 2N3 CANADA web site: http://www.bcuc.com IN THE MATTER OF the Utilities Commission Act, R.S.B.C. 1996, Chapter 473 and An Application by FortisBC Inc. for Approval To Issue Additional Common Shares BEFORE: L.F. Kelsey, Commissioner O R D E R WHEREAS: A. On July 19, 2006 FortisBC Inc. (“FortisBC” or “Company”) filed with the Commission, pursuant to Section 50 of the Utilities Commission Act (“the Act”), for approval to issue up to 250,000 authorized $100 par value common shares for a total of up to $25 million on or before December 31, 2006; and B. FortisBC’s rates are currently subject to regulation using a deemed capital structure of 60 percent debt and 40 percent equity. The infusion of equity will increase the actual equity component back to 40 percent; and C. The Commission has reviewed the Application together with the supporting information provided and finds that approval is warranted. NOW THEREFORE, pursuant to Section 50 of the Act, the Commission approves for FortisBC Inc. as follows: 1. The issuance up to 250,000 authorized $100 par value common shares to Fortis Pacific Holdings Ltd. for a total value of up to $25 million on or before December 31, 2006. 2. FortisBC will provide the Commission with an authorized copy of a Board of Directors resolution that approves the share issuance. DATED at the City of Vancouver, in the Province of British Columbia, this 28 ORDERS/FortisBC_2006 Add Common Shares BRITISH COL UMBIA UTILITIES COM MISSION ORDER NUMBER G -91-06 TELEPHONE: (604) 660-4700 BC TOLL FREE: 1-800-663-1385 FACSIMILE: (604) 660-1102 July 27, 2006 th day of July 2006. BY ORDER Original signed by L. F. Kelsey Commissioner
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