Terasen Utilities (now FortisBC Energy Inc.)

Terasen Gas Inc. and Terasen Gas (Vancouver Island) Inc. - Application to Determine the Appropriate Return on Equity and Capital Structure and to Review and Revise the Automatic Adjustment Mechanism ~ Project No. 3698394

Completed: 2005

Hearing and Other Documents

Title Document Description
* Exhibit List Updated: January 20, 2005 @ 1:30 pm
*_Distribution List Updated: August 4, 2005 @ 10:14 am
*_Email/Fax/Mail List Updated: August 4, 2005 @ 10:14 am
*_JIESC Resp Reopen Evidentiary Record
*_CECBC Resp Reopen Evidentiary Record
*_TGI-TGVI Comments re Reopen Evidentiary Record
*_12-23_Response to TGI-TGVI Rqst Reopen ROE Record.doc
TGI/TGVI 2005 ROE Decision

Arguments/Submissions

Title Document Description
*_Final Argument from TGI & TGVI Letter dated December 5, 2005 – Final Argument from TGI and TGVI
*_Final Argument from FortisBC Inc. Letter dated December 7, 2005 - Argument from FortisBC Inc.
*_BCOAPO Final Argument dated Dec 16, 2005
*_Alan Wait Final Argument
*_CECBC Argument dated December 19, 2005
*_Application to Reopen Evidentiary Record
*_JIESC Revised Argument
*_Reply Argument of TGI and TGVI

Exhibits

A Exhibits - BCUC Documents

Date Title Document Description
November 15, 2005 A-15a Commission Submission at Oral Hearing – Response to BCUC IR No. 1
July 11, 2005 A-1 Letter dated July 8, 2005 and Order No. G-69-05 establishing a Procedural Conference
July 11, 2005 A-2 Letter dated July 8, 2005 requesting the Regulated Utilities to provide their preliminary positions on the participation and the coordination of evidence of all regulated utilities
July 19, 2005 A-3 Letter No. L-58-05 dated July 19, 2005 regarding appointment of Commissioner
July 21, 2005 A-4 Letter dated July 21, 2005 advising that Commissioner O’Hara will not be appointed to the Panel for this Proceeding
August 02, 2005 A-5 Letter dated August 2, 2005 enclosing draft Regulatory Agenda for discussion at the Procedural Conference
August 05, 2005 A-6 Letter No. L-67-05 dated August 5, 2005 defining the scope for review of the Application and issuing an updated Regulatory Timetable
August 09, 2005 A-7 Letter dated August 8, 2005 to Terasen Gas and Terasen Gas (Vancouver Island) responding to the JIESC’s request (Exhibit C2-2) for a full description of the Chair’s involvement, on or off the record, in British Columbia or Alberta, relating to ROE, ROE adjustment mechanisms and capital structure issues
August 12, 2005 A-8 Letter dated August 11, 2005 to Pacific Northern Gas Ltd. responding to its request for clarification of PNG's status pursuant to Commission Letter No. L-67-05
August 12, 2005 A-9 Letter and Commission Information Request No. 1 dated August 12, 2005 to Terasen Gas Inc. and Terasen Gas (Vancouver Island) Inc.
August 26, 2005 A-10 Letter dated August 26, 2005 requesting comments from Registered Intervenors on the JIESC request to have the Chair step down (Exhibit C2-3)
September 15, 2005 A-11 Letter dated September 13, 2005 and Commission Information Request No. 2
September 30, 2005 A-12 Letter dated September 29, 2005 – Reasons Regarding JIESC Request
October 21, 2005 A-13 Letter dated October 20, 2005 – Information Request No. 1 to Utility Customers
November 10, 2005 A-14 Letter dated November 10, 2005 – Commencement of Hearing
November 10, 2005 A-15 Letter dated November 10, 2005 – Appointment of Commissioner A.J. Pullman
November 15, 2005 A-16 Commission Submission at Oral Hearing – TGI Response to IR
November 15, 2005 A-17 Commission Submission at Oral Hearing – TGI Pricing Supplement No. 2
November 15, 2005 A-18 Commission Submission at Oral Hearing – TGI Pricing Supplement No. 3
November 15, 2005 A-19 Commission Submission at Oral Hearing – TGI-TGVI Cross Examination – Policy Panel
November 15, 2005 A-20 Commission Submission at Oral Hearing – BMO Nesbitt Burns – Consolidated Summary Sheet
November 15, 2005 A-21 Commission Submission at Oral Hearing – Adjustment to Cost of Service
November 15, 2005 A-22 Commission Submission at Oral Hearing – TGVI ROE Allowed and Achieved Calculation
November 15, 2005 A-23 Commission Submission at Oral Hearing – TGVI Statements of Earnings
November 17, 2005 A-24 Commission Submission at Oral Hearing – Witness Aid-Evidence Weights
November 17, 2005 A-25 Commission Submission at Oral Hearing – ICBC Statement of Investment Policy and Procedures
November 17, 2005 A-26 Commission Submission at Oral Hearing – Canadian Ratings Research Update-Terasen Inc. Purchase by Kinder Morgan Inc.
November 18, 2005 A-27 Submission at Oral Hearing – FortisBC News Release dated November 10, 2005
November 18, 2005 A-28 Submission at Oral Hearing – S&P/TSX Capped Indices Document
December 19, 2005 A-29 Letter dated December 19, 2005 approving the JIESC’s request for an extension of time to file your closing argument material (Exhibit C2-22)
September 03, 2005 A2-1 Letter dated September 2, 2005 from Commission Counsel commenting on the JIESC request to have the Chair step down (Exhibit C2-3)
November 18, 2005 A3-1 Submission at Oral Hearirng – Alberta Energy and Utilities Board-Generic Cost of Capital Decision dated July 2, 2004
November 18, 2005 A3-2 Submission at Oral Hearing -Decision of the Board of Commissioners of Public Utilities, Newfoundland and Labrador, in the matter of the 2003 general rate application filed by Newfoundland Power Inc., the Board order PU19-2003
November 18, 2005 A3-3 Submission at Oral Hearing - Decision of the Regis (Action Number D-99-11)
November 18, 2005 A3-4 Submission At Oral Hearing - Supreme Court Of Canada Decision re: Northwest Utilities
November 18, 2005 A3-5 Submission at Oral Hearing – Supreme Court of Canada Document
December 01, 2005 A3-6 Order No. G-126-05 and Negotiated Settlement dated November 30, 2005 on TGVI’s 2006/07 Revenue Requirements Application

B Exhibits - Applicant Documents

Date Title Document Description
November 17, 2005 B-14a Letter dated November 25, 2005 – Undertaking from Transcript Page 807
July 11, 2005 B-1 TERASEN GAS INC and TERASEN GAS (VANCOUVER ISLAND) INC. Application dated June 30, 2005 to determine the appropriate Return on Equity and Capital Structure and to Review and Revise the Automatic Adjustment Mechanism
July 20, 2005 B-2 E-mail dated July 20, 2005 providing a letter from Terasen Gas (Whistler) Inc. and Terasen Gas (Squamish) Inc. in response to Commission letter of July 8, 2005 (Exhibit A-2)
September 06, 2005 B-3B APPENDIX 2 to Responses to BCUC IR-1 - Responses 58.1 to 58.6
September 02, 2005 B-3 Letter dated September 2, 2005 filing responses to Commission Information Request No. 1
September 06, 2005 B-3A APPENDIX 1 to Responses to BCUC IR-1 - Responses 1.5 to 48.2.1.1
September 06, 2005 B-3C APPENDIX 3 to Responses to BCUC IR-1 - Responses 59.1 to 69.1.4
September 06, 2005 B-3D APPENDIX 4 to Responses to BCUC IR-1 - Responses 71.3 and 71.5 (Working Model)
September 06, 2005 B-3E APPENDIX 5 to Responses to BCUC IR-1 - Responses 75.1 to 93.1
September 07, 2005 B-4 Letter dated September 7, 2005 responding to the JIESC request that the Commission Chair step down from the Panel established to review the Return on Equity Application
September 30, 2005 B-5 Letter dated September 30, 2005 filing responses to the following Information Requests: Commission Information Request No. 2 Al Wait Information Request No. 1 Commercial Energy Consumers Information Request No. 1 JIESC-BCOAPO-CEC (Dr. Booth) Information Request No. 1 Vancouver Island Gas Joint Venture Information Request No. 1
October 05, 2005 B-6 Letter dated October 5, 2005 – Revised certain rate comparative Figures and Tables in June 30, 2005 Application
October 20, 2005 B-7 Letter dated October 20, 2005 – Information Request No. 1 to Dr. Laurence D. Booth
November 15, 2005 B-8 Submission at Oral Hearing – Direct Testimony of R.L. (Randy) Jesperson
November 15, 2005 B-9 Submission at Oral Hearing – Opening Statement on Behalf of TGI and TGVI
November 15, 2005 B-10 Submission at Oral Hearing – 2006 Forecast Allowed ROE & Capital Structure
November 15, 2005 B-11 Submission at Oral Hearing – 30yr Bond Issues in Canada with BBB rating
November 15, 2005 B-12 Submission at Oral Hearing – Recorded Actual TGI Volumes – TJs
November 17, 2005 B-13 Submission at Oral Hearing – Undertaking-Transcript Page 231
November 17, 2005 B-14 Submission at Oral Hearing – Undertaking Transcript Page 259
November 17, 2005 B-15 Submission at Oral Hearing – Terasen Management’s Discussion and Analysis dated November 3, 2005
November 17, 2005 B-16 Submission at Oral Hearing – Undertaking Transcript Page 259
November 17, 2005 B-17 Submission at Oral Hearing – Undertaking Transcript Page 260
November 17, 2005 B-18 Submission at Oral Hearing –Ratings Direct Research-Canadian Utility Regulation Reassessed as a Ratings Factor
November 17, 2005 B-19 Submission at Oral Hearing – Global Credit Research Document dated October 14, 2005
November 17, 2005 B-20 Submission at Oral Hearing – Kinder Morgan’s Historical Equity and Debt/Total Capitalization Ratios
November 17, 2005 B-21 Submission at Oral Hearing – Financial Theory and Corporate Policy
November 18, 2005 B-22 Submission at Oral Hearing – Market and Individual Stock Graph
November 18, 2005 B-23 Submission at Oral Hearing – Commission Transcript dated April 12, 1994
November 18, 2005 B-24 Submission at Oral Hearing – GICS to Companies
November 30, 2005 B-25 Submission at Oral Hearing - Generic Roe Calculation For 2006 Based On Current Formula
November 30, 2005 B-26 Letter dated November 25, 2005 – ROE 2006 Estimates
January 04, 2006 B-27 Letter dated January 3, 2006 filing the December 19, 2005 Moody’s Investors Service Announcement
January 20, 2006 B-28 Letter dated January 20, 2006 amending the TGI/TGVI January 19, 2006 letter regarding interest coverage discussed at page 1071 of the Transcript

C Exhibits - Intervener Documents

CENTRAL HEAT DISTRIBUTION LIMITED - Notice of Intervention dated July 8, 2005 from John S. Barnes
JOINT INDUSTRY ELECTRICITY STEERING COMMITTEE - Notice of Intervention dated July 13, 2005 from R.B. Wallace
THE BC OLD AGE PENSIONERS ORGANIZATION ET AL. - Notice of Intervention dated July 15, 2005 from Jim Quail, The British Columbia Public Interest Advocacy Centre
ENBRIDGE GAS DISTRIBUTION - Notice of Intervention dated July 18, 2005 from Lorraine Chiasson
ELK VALLEY COAL CORPORATION - Notice of Intervention dated July 20, 2005 from J. David Newlands
UNION GAS LIMITED - Notice of Intervention dated July 21, 2005 from Patrick McMahon
INLAND INDUSTRIALS - Notice of Intervention dated July 25, 2005 from David Bursey, Bull, Housser & Tupper LLP
CANADIAN OFFICE AND PROFESSIONAL UNION - Notice of Intervention dated July 21, 2005 from Pat Junilla
LOWER MAINLAND LARGE GAS USERS ASSOCIATION - Notice of Intervention dated July 26, 2005 from Christopher Weafer, Owen?Bird
ALAN WAIT - Notice of Intervention dated July 26, 2005
RANDALL JANG - Notice of Intervention dated July 28, 2005
MINISTRY OF ENERGY, MINES AND PETROLEUM RESOURCES - Notice of Intervention dated July 26, 2005 from Stirling M. Bates
FORTISBC INC. - Notice of Intervention dated July 28, 2005 from George Isherwood
TRANSCANADA PIPELINES LIMITED - Notice of Intervention dated July 28, 2005 from James Bartlett and Patrick M. Keys
BRITISH COLUMBIA HYDRO AND POWER AUTHORITY - Notice of Intervention dated July 29, 2005 from Tony Morris
AVISTA ENERGY CANADA - Notice of Intervention dated July 29, 2005
HEATING, VENTILATING & COOLING ASSOCIATION – Web registration dated July 29, 2005 from Nelle Maxey
COMMERCIAL ENERGY CONSUMERS ASSOCIATION OF BRITISH COLUMBIA – Notice of Intervention dated July 29, 2005 from Christopher Weafer
PACIFIC NORTHERN GAS LTD. – Notice of Intervention and Comments on the Generic ROE proceeding dated July 28, 2005 from Craig Donohue
VANCOUER ISLAND GAS JOINT VENTURE – Notice of Intervention dated August 26, 2005 from Karl E. Gustafson, Lange Michener
HOWE SOUND PULP AND PAPER LIMITED PARTNERSHIP – Notice of Intervention dated August 30, 2005 from Pierre G. Lamarche


Date Title Document Description
July 12, 2005 C1-1 CENTRAL HEAT DISTRIBUTION LIMITED - Notice of Intervention dated July 8, 2005 from John S. Barnes
November 15, 2005 C2-11a Submission at Oral Hearing – Gas Distribution Sector-10 yr Indicative Spreads
July 14, 2005 C2-1 JOINT INDUSTRY ELECTRICITY STEERING COMMITTEE - Notice of Intervention dated July 13, 2005 from R.B. Wallace
August 05, 2005 C2-2 Letter dated August 5, 2005 to Commission Cousel requesting a full description of the Chair’s involvement, on or off the record, in British Columbia or Alberta, relating to ROE, ROE adjustment mechanisms and capital structure issues from the time the Chair joined West Kootenay, presumably some time before 1994 until he left Aquila in 2001 or 2002
August 25, 2005 C2-3 Letter dated August 25, 2005 requesting that the Commission Chair step down from the Panel established to review the Return on Equity Application
September 12, 2005 C2-4 Letter dated September 9, 2005 responding to Intervenor submissions
September 15, 2005 C2-5 Information Request No. 1 dated September 14, 2005
October 12, 2005 C2-6 Letter dated October 11, 2005 – Evidence of Dr. Laurence Booth
November 07, 2005 C2-7 E-mail dated November 4, 2005 – Responses to Terasen Gas Information Request No. 1
November 07, 2005 C2-8 E-mail dated November 4, 2005 – Responses to FortisBC Information Request No. 1
November 07, 2005 C2-9 E-mail dated November 4, 2005 – Responses to Commission Information Request No. 1
November 15, 2005 C2-10 Submission at Oral Hearing – Review of OEB Guidelines for setting ROE
November 15, 2005 C2-11 Submission at Oral Hearing – BMO Corporate Debt Research regarding Terasen Inc. – Kinder Morgan Acquisition Appears Credit Negative for Bondholders
November 15, 2005 C2-12 Submission at Oral Hearing – Globe and Mail clip from October 30, 2001 regarding “BC Gas financing proves it’s the silly season”
November 16, 2005 C2-13 Submission at Oral Hearing – TGI Credit Rating Report
November 16, 2005 C2-14 Submission at Oral Hearing – OEB September 7, 1993 Transcript
November 16, 2005 C2-15 Submission at Oral Hearing – Electric Load Forecast
November 16, 2005 C2-16 Submission at Oral Hearing – BMO Research Report regarding BC Gas to Acquire Centra Gas British Columbia
November 16, 2005 C2-17 Submission at Oral Hearing – RBC Capital Markets document dated August 10, 2005
November 17, 2005 C2-18 Submission at Oral Hearing – Corporate Financial Analysis
November 17, 2005 C2-19 Submission at Oral Hearing – Basic Variables-Single Year Changes Year-End to Year-End
November 18, 2005 C2-20 Submission at Oral Hearing – Public, Power & Utilities Bulletin dated August 10, 2005
November 29, 2005 C2-21 Responses to Undertakings at Transcript Volume 6, pp. 825, 827 and 903-4
December 16, 2005 C2-22 Letter dated December 14, 2005 requesting a one day extension to the filing of the JIESC Argument
December 23, 2005 C2-23 Letter dated December 21, 2005 requesting the Commission to re-open the evidentiary record
January 26, 2006 C2-24 Undertaking at Transcript Page 1054 - Letter dated January 22, 2006 regarding the issuance of Preferred Shares
January 26, 2006 C2-25 Undertaking at Transcript Page 1071 – Letter dated January 22, 2006 regarding Interest Coverage
July 15, 2005 C3-1 THE BC OLD AGE PENSIONERS ORGANIZATION ET AL. - Notice of Intervention dated July 15, 2005 from Jim Quail, The British Columbia Public Interest Advocacy Centre
September 02, 2005 C3-2 Letter dated September 2, 2005 filing comments regarding the JIESC request to have the Chair step down (Exhibit C2-3)
July 19, 2005 C4-1 ENBRIDGE GAS DISTRIBUTION - Notice of Intervention dated July 18, 2005 from Lorraine Chiasson
July 26, 2005 C4-2 E-mail dated July 26, 2005 regarding Enbridge Gas Distribution contact information
July 20, 2005 C5-1 ELK VALLEY COAL CORPORATION - Notice of Intervention dated July 20, 2005 from J. David Newlands
July 22, 2005 C6-1 UNION GAS LIMITED - Notice of Intervention dated July 21, 2005 from Patrick McMahon
July 26, 2005 C7-1 INLAND INDUSTRIALS - Notice of Intervention dated July 25, 2005 from David Bursey, Bull, Housser & Tupper LLP
July 26, 2005 C8-1 CANADIAN OFFICE AND PROFESSIONAL UNION - Notice of Intervention dated July 21, 2005 from Pat Junilla
July 26, 2005 C9-1 LOWER MAINLAND LARGE GAS USERS ASSOCIATION - Notice of Intervention dated July 26, 2005 from Christopher Weafer, Owen?Bird
July 26, 2005 C10-1 ALAN WAIT - Notice of Intervention dated July 26, 2005
July 26, 2005 C10-2 E-mail dated July 26, 2005 with reasons for intervention
September 15, 2005 C10-3 Information Request No. 1 dated September 14, 2005
July 28, 2005 C11-1 RANDALL JANG - Notice of Intervention dated July 28, 2005
July 28, 2005 C12-1 FORTISBC INC. - Notice of Intervention dated July 28, 2005 from George Isherwood
October 20, 2005 C12-2 Letter dated October 20, 2005 – Information Request No. 1 to JIESC, CEC and BCOAPO
November 17, 2005 C12-3 Submission at Oral Hearing – Rates of Return on Common Equity at Various Bond Yield Levels
July 28, 2005 C13-1 MINISTRY OF ENERGY, MINES AND PETROLEUM RESOURCES - Notice of Intervention dated July 26, 2005 from Stirling M. Bates
July 29, 2005 C14-1 TRANSCANADA PIPELINES LIMITED - Notice of Intervention dated July 28, 2005 from James Bartlett and Patrick M. Keys
July 29, 2005 C15-1 BRITISH COLUMBIA HYDRO AND POWER AUTHORITY - Notice of Intervention dated July 29, 2005 from Tony Morris
September 02, 2005 C15-2 Letter dated September 2, 2005 filing comments regarding the JIESC request to have the Chair step down (Exhibit C2-3)
July 29, 2005 C16-1 AVISTA ENERGY CANADA - Notice of Intervention dated July 29, 2005
July 29, 2005 C17-1 HEATING, VENTILATING & COOLING ASSOCIATION – Web registration dated July 29, 2005 from Nelle Maxey
August 10, 2005 C17-2 Letter of Comment dated August 10, 2005
August 29, 2005 C17-3 Letter dated August 26, 2005 supporting the JIESC’s request that the Chair step down from the Panel
July 29, 2005 C18-1 COMMERCIAL ENERGY CONSUMERS ASSOCIATION OF BRITISH COLUMBIA – Notice of Intervention dated July 29, 2005 from Christopher Weafer
September 15, 2005 C18-2 Information Request No. 1 dated September 14, 2005 from Christopher Weafer
August 02, 2005 C19-1 PACIFIC NORTHERN GAS LTD. – Notice of Intervention and Comments on the Generic ROE proceeding dated July 28, 2005 from Craig Donohue
August 10, 2005 C19-2 Letter dated August 10, 2005 requesting clarification of PNG's status in light of Commission Letter No. L-67-05
August 29, 2005 C20-1 VANCOUER ISLAND GAS JOINT VENTURE – Notice of Intervention dated August 26, 2005 from Karl E. Gustafson, Lange Michener
September 03, 2005 C20-2 Letter dated September 2, 2005 filing comments regarding the JIESC request to have the Chair step down (Exhibit C2-3)
September 15, 2005 C20-3 Information Request No. 1 received September 15, 2005
August 30, 2005 C21-1 HOWE SOUND PULP AND PAPER LIMITED PARTNERSHIP – Notice of Intervention dated August 30, 2005 from Pierre G. Lamarche

D Exhibits — Interested Party Documents

Date Title Document Description
July 12, 2005 D-1 Letter dated July 8, 2005 from the Rental Owners and Managers Association of BC requesting Interested Party status

E Exhibits - Letters of Comment

Date Title Document Description
August 31, 2005 E-1 Letters of Comment dated July 22 and August 30, 2005 from Reiner Teschinsky

Transcripts

Date Title Document Description
August 03, 2005 Transcript Volume 1 - Procedural Conference - August 3 Revised August 5, 2005 -- ERRATA ( page 19 line 25 add "no" at end of line ("that you have no objection to my participation.")
November 15, 2005 Transcript Volume 2 - Oral Hearing - November 14, 2005
November 15, 2005 Transcript Volume 3 - Oral Hearing - November 15, 2005
November 16, 2005 Transcript Volume 4 - Oral Hearing - November 16, 2005
November 17, 2005 Transcript Volume 5 - Oral Hearing - November 17, 2005
November 18, 2005 Transcript Volume 6 - Oral Hearing - November 18, 2005.pdf
January 17, 2006 Transcript Volume 7 - Oral Argument - January 17- 2006

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