SURREY, BC, Nov. 30, 2011 /CNW/ - The British Columbia Utilities
Commission (BCUC) has issued preliminary notification to all regulated
entities including the FortisBC regulated utilities (FortisBC Energy
Inc., FortisBC Energy (Vancouver Island) Inc., FortisBC Energy
(Whistler) Inc. and FortisBC Inc.) (TSX:FTS) that it plans to initiate
a Generic Cost of Capital proceeding in early 2012.
The BCUC plans to address the following issues:
Setting the appropriate cost of capital for a benchmark low-risk utility
Establishing a return on equity automatic adjustment mechanism
Establishing a deemed capital structure and deemed cost of capital
methodology particularly for those utilities without third party debt.
FortisBC is an integrated energy solutions provider focused on providing
safe and reliable energy, including natural gas, electricity, propane
and alternative energy solutions, at the lowest reasonable cost.
FortisBC employs more than 2,300 British Columbians and serves
approximately 1.1 million customers in more than 135 B.C. communities.
FortisBC is indirectly wholly owned by Fortis Inc., the largest
investor-owned distribution utility in Canada. FortisBC owns and
operates four regulated hydroelectric generating plants, approximately
7,000 kilometres of transmission and distribution power lines and
approximately 46,000 kilometres of natural gas transmission and
distribution pipelines. FortisBC Inc., FortisBC Energy Inc., FortisBC
Energy (Vancouver Island) Inc., and FortisBC Energy (Whistler) Inc. do
business as FortisBC. Fortis Inc. shares are listed on the Toronto
Stock Exchange and trade under the symbol FTS. Additional information
can be accessed at www.fortisinc.com or www.sedar.com.
SOURCE FortisBC Inc.
For further information:
Director, Corporate & Marketing Communications
Phone: (604) 785-8946