Three corporate entities make up the Gas Utility – FortisBC Energy Inc., FortisBC Energy (Vancouver Island) Inc. and FortisBC Energy (Whistler) Inc. – and are collectively referred to as FortisBC Energy Utilities (FEU).
The British Columbia Utilities Commission (“BCUC”) approves rates, changes in rates and other rate matters for the Gas Utility and determines the return on equity (“ROE”) that the Gas Utility and shareholders can earn.
The BCUC is an independent regulatory agency of the Provincial Government, operating under and administering the Utilities Commission Act (“UCA”). Under the UCA, the BCUC is responsible for ensuring the following:
- Customers receive safe, reliable and non-discriminatory energy services at fair rates from the utilities it regulates.
- Shareholders of these utilities are afforded a reasonable opportunity to earn a fair return on their invested capital (“ROE”).
- The competitive interests of BC businesses are not frustrated.