IN THE MATTER OF
the Utilities Commission Act, R.S.B.C. 1996, Chapter 473
and
Creative Energy Canada Platforms Corp.
Application for Approval to Acquire Central Heat Distribution Limited
BEFORE: C.A. Brown, Commissioner
N.E. MacMurchy, Commissioner
B.A. Magnan, Commissioner
D.M. Morton, Commissioner November 21, 2013
R.D. Revel, Commissioner
C. van Wermeskerken, Commissioner
O R D E R
WHEREAS:
A. On August 22, 2013, Creative Energy Canada Platforms Corp. (Creative Energy) and Central Heat Distribution Limited (CHDL) have entered into an agreement under which all of the issued and outstanding common shares of CHDL will be purchased by Creative Energy;
B. On September 17, 2013, Creative Energy applied to the British Columbia Utilities Commission (the Commission), pursuant to section 54 of the Utilities Commission Act (the Act), for approval to acquire all of the issued and outstanding common shares of CHDL, which would result in CHDL becoming a direct, wholly owned subsidiary of Creative Energy (the Application);
C. In accordance with the regulatory timetable established in Order G-163-13, the Commission issued information requests to Creative Energy on October 15, 2013, in review of the Application;
D. Creative Energy filed its responses to the information requests on November 6, 2013;
E. Creative Energy states that the acquisition of CHDL will not result in adverse change or detrimental effect on CHDL’s existing customers or how current steam service is provided to existing customers. It also states that it will not seek to recover any of the acquisition premium or transaction costs incurred in connection with the sales transaction from CHDL’s customers;
F. No interveners have submitted any information requests or made submissions to express opposition to the Application;
G. The Commission has reviewed the Application along with the supporting materials and has determined the public utility and the users of the service of the public utility will not be detrimentally affected, and therefore approval is appropriate.
NOW THEREFORE the Commission orders that the Application by Creative Energy to acquire the issued and outstanding common shares of Central Heat Distribution Ltd. is hereby approved pursuant to section 54 of the Utilities Commission Act.
DATED at the City of Vancouver, in the Province of British Columbia, this 21st day of November 2013.
BY ORDER
Original signed by:
D.M. Morton
Commissioner