ORDER NUMBER
G-331-23
IN THE MATTER OF
the Utilities Commission Act, RSBC 1996, Chapter 473
and
FortisBC Energy Inc.
2024 Common Share Issuance to Maintain the Approved Capital Structure
BEFORE:
M. Jaccard, Commissioner
on December 5, 2023
ORDER
WHEREAS:
A. On November 22, 2023, FortisBC Energy Inc. (FEI) applied to the British Columbia Utilities Commission (BCUC) pursuant to section 50(2) of the Utilities Commission Act (UCA) for approval to issue common shares in the amount of $300 million on or before January 31, 2024, in order to maintain its BCUC approved equity percentage (Application);
B. FEI states that the requirement to issue equity results from FEI’s upcoming capital expenditures and ensures that FEI can maintain its currently approved capital structure for regulated purposes of 55.0 percent debt and 45.0 percent equity;
C. The BCUC has reviewed the Application and determines that approval is warranted.
NOW THEREFORE pursuant to section 50(2) of the UCA, FEI is approved to issue common shares in the amount of $300 million on or before January 31, 2024.
DATED at the City of Vancouver, in the Province of British Columbia, this 5th day of December 2023.
BY ORDER
Original signed by:
M. Jaccard
Commissioner