DOCSLIB.ORG

Fortisbc Inc. an Indirect Subsidiary of Fortis Inc. Annual Information Form

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fortisbc Inc. an Indirect Subsidiary of Fortis Inc. Annual Information Form FortisBC Inc. An indirect subsidiary of Fortis Inc. Annual Information Form For the Year Ended December 31, 2016 Dated March 28, 2017 FortisBC Inc. TABLE OF CONTENTS FORWARD-LOOKING INFORMATION .................................................................................................................... 3 GLOSSARY ...................................................................................................................................................................... 4 1.0 CORPORATE STRUCTURE .............................................................................................................................. 6 1.1 NAME AND INCORPORATION ................................................................................................................. 6 1.2 INTER-CORPORATE RELATIONSHIPS ..................................................................................................... 6 2.0 GENERAL DEVELOPMENT OF THE BUSINESS ......................................................................................... 6 2.1 THREE-YEAR HISTORY ......................................................................................................................... 6 2.2 OUTLOOK .............................................................................................................................................. 6 3.0 THE BUSINESS OF FORTISBC INC. ................................................................................................................ 6 3.1 GENERAL ............................................................................................................................................... 6 3.2 GENERATION AND POWER SUPPLY ....................................................................................................... 7 3.3 OPERATIONS .......................................................................................................................................... 9 3.4 OTHER OPERATIONS, ASSETS AND ACTIVITIES .................................................................................... 10 3.5 OTHER MATERIAL CORPORATE ISSUES .............................................................................................. 11 4.0 REGULATION .................................................................................................................................................... 12 4.1 OVERVIEW .......................................................................................................................................... 12 4.2 REVENUE REQUIREMENT .................................................................................................................... 12 4.3 KEY REGULATORY INFORMATION ...................................................................................................... 13 5.0 SAFETY AND ENVIRONMENTAL MATTERS ............................................................................................ 13 5.1 GENERAL ............................................................................................................................................. 13 5.2 ENVIRONMENTAL MANAGEMENT SYSTEM ......................................................................................... 13 5.3 PERMITS, LICENCES AND APPROVALS ................................................................................................ 13 5.4 ENVIRONMENTAL EXPENDITURES ...................................................................................................... 14 5.5 RELEASES ............................................................................................................................................ 14 5.6 HAZARDOUS SUBSTANCES .................................................................................................................. 14 5.7 SITE INVESTIGATION AND REMEDIATION ........................................................................................... 15 5.8 AIR EMISSIONS MANAGEMENT AND POLICY ...................................................................................... 15 5.9 ASSET RETIREMENT OBLIGATIONS ..................................................................................................... 15 5.10 EMERGENCY PREPAREDNESS AND SAFETY ........................................................................................ 15 5.11 ELECTRO-MAGNETIC FIELDS .............................................................................................................. 16 6.0 RISK FACTORS .................................................................................................................................................. 16 7.0 CAPITAL STRUCTURE .................................................................................................................................... 16 7.1 SHARE CAPITAL .................................................................................................................................. 16 7.2 DIVIDEND POLICY ............................................................................................................................... 17 8.0 CREDIT RATINGS ............................................................................................................................................. 17 9.0 MARKET FOR SECURITIES ........................................................................................................................... 17 10.0 DIRECTORS AND OFFICERS ......................................................................................................................... 18 10.1 DIRECTORS .......................................................................................................................................... 18 10.2 OFFICERS ............................................................................................................................................. 20 10.3 CONFLICTS OF INTEREST ..................................................................................................................... 22 11.0 EXECUTIVE COMPENSATION ...................................................................................................................... 22 12.0 SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS ............. 22 13.0 INDEBTEDNESS OF EXECUTIVE OFFICERS, DIRECTORS, AND EMPLOYEES .............................. 22 Annual Information Form – 2016 Page 1 FortisBC Inc. 14.0 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS .............................. 22 15.0 MATERIAL CONTRACTS ............................................................................................................................... 22 16.0 LEGAL PROCEEDINGS ................................................................................................................................... 23 17.0 TRANSFER AGENTS AND REGISTRARS .................................................................................................... 23 18.0 INTEREST OF EXPERTS ................................................................................................................................ 23 19.0 ADDITIONAL INFORMATION ....................................................................................................................... 23 SCHEDULE “A” - EXECUTIVE COMPENSATION................................................................................................ 24 A. COMPENSATION DISCUSSION AND ANALYSIS .................................................................................... 24 B. TABLE OF COMPENSATION .................................................................................................................. 30 C. COMPENSATION SECURITIES ............................................................................................................... 32 D. PENSION PLAN BENEFITS .................................................................................................................... 33 E. TERMINATION AND CHANGE OF CONTROL BENEFITS ........................................................................ 34 All figures are expressed in Canadian dollars unless otherwise noted. Except as otherwise stated, the information in this Annual Information Form is given as of December 31, 2016. Annual Information Form – 2016 Page 2 FortisBC Inc. FORWARD-LOOKING INFORMATION Certain statements contained in this Annual Information Form contain forward-looking information within the meaning of applicable securities laws in Canada (“forward-looking information”). The words “anticipates”, “believes”, “budgets”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “might”, “plans”, “projects”, “schedule”, “should”, “will”, “would” and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. The forward-looking information reflects management’s current beliefs and is based on information currently available to the Corporation’s management. The forward-looking information in the 2016 Annual Information Form and the information incorporated herein by reference includes, but is not limited to, statements regarding: the Corporation’s expected level of capital expenditures; expectations regarding power output in the event that the CPA is terminated; expectations under take-or-pay contracts; and the Corporation’s expectation that compliance with environmental laws and regulations will not have a material effect on the Corporation’s capital expenditures, earnings or
Load more

Recommended publications
  • Kootenay System Operations
    Columbia River Treaty Review – Technical Studies Appendix C Kootenay System Operations Operation of the Kootenay River system is complicated as it is administered by several different jurisdictions and the hydroelectric facilities are owned by different agencies/companies. As shown in Figure 1, the Kootenay River originates in the Rocky Mountains not far from Field, BC. The river flows south, within a few km of the source of the Columbia River at Canal Flats, and then continues south into Koocanusa Reservoir, formed behind Libby Dam in Montana, United States. From Libby, the Kootenay River turns west and north, and re-enters British Columbia near the community of Creston, flowing into the south arm of Kootenay Lake. In the northern part of the Kootenay basin, the Duncan River is joined by the Lardeau River just downstream from Duncan Dam, and then flows into the north arm of Kootenay Lake. Water from the north and south arms of Kootenay Lake then flows through the west arm of the lake and past the Corra Linn Dam near Nelson (as well as other dams) en route to the Columbia–Kootenay confluence at Castlegar. The components of this system and various agreements/orders that regulate flows are described in this Appendix. November 29, 2013 1 Columbia River Treaty Review – Technical Studies Figure 1: Kootenay and Columbia Region November 29, 2013 2 Columbia River Treaty Review – Technical Studies 1.0 Coordination of Libby Operations Background Under the terms of the Columbia River Treaty, Canada permitted the U.S. to build the Libby Dam on the Kootenai River (U.S.
    [Show full text]
  • BCUC IR1 Response
    Diane Roy FortisBC Vice President, Regulatory Affairs 16705 Fraser Highway Surrey, B.C. V4N 0E8 Gas Regulatory Affairs Correspondence Tel: (604)576-7349 Email: [email protected] Cell: (604) 908-2790 Fax: (604) 576-7074 Electric Regulatory Affairs Correspondence www.fortisbc.com Email: [email protected] October 1, 2020 British Columbia Utilities Commission Suite 410, 900 Howe Street Vancouver, B.C. V6Z 2N3 Attention: Ms. Marija Tresoglavic, Acting Commission Secretary Dear Ms. Tresoglavic: Re: FortisBC Inc. (FBC) Project No. 1599119 Annual Review for 2020 and 2021 Rates (Application) Response to the British Columbia Utilities Commission (BCUC) Information Request (IR) No. 1 On August 19, 2020, FBC filed the Application referenced above. In accordance with BCUC Order G-211-20 setting out the Regulatory Timetable for the review of the Application, FBC respectfully submits the attached response to BCUC IR No. 1. If further information is required, please contact the undersigned. Sincerely, FORTISBC INC. Original signed: Diane Roy Attachments cc (email only): Registered Parties FortisBC Inc. (FBC or the Company) Submission Date: Annual Reivew for 2020 and 2021 Rates ~ Project No. 1599119 (Application) October 1, 2020 Response to British Columbia Utilities Commission (BCUC) Information Request (IR) Page 1 No. 1 1 Table of Contents Page no. 2 A. LOAD FORECAST AND REVENUE AT EXISTING RATES ................................................. 2 3 B. OTHER REVENUE .............................................................................................................28
    [Show full text]
  • 2010 Management's Discussion and Analysis
    2010 MANAGEMENT’S DISCUSSION AND ANALYSIS March 4, 2011 Management’s Discussion and Analysis (“MD&A”) is designed to provide the reader with a greater understanding of the Company’s business, the Company’s business strategy and performance, the Company’s expectations of the future, and how the Company manages risk and capital resources. It is intended to enhance the understanding of the audited annual consolidated financial statements and accompanying notes, and should therefore be read in conjunction with these documents, and should also be read together with the text below on forward-looking statements. Reference in this MD&A to the “Company” or to “SNC-Lavalin” means, as the context may require, SNC-Lavalin Group Inc. and all or some of its subsidiaries or joint ventures, or SNC-Lavalin Group Inc. or one or more of its subsidiaries or joint ventures. Unless otherwise indicated, all financial information presented in this MD&A, including tabular amounts, is in Canadian dollars, and prepared in accordance with Canadian generally accepted accounting principles (“GAAP”). FORWARD-LOOKING STATEMENTS Statements made in this MD&A that describe the Company’s or management’s budgets, estimates, expectations, forecasts, objectives, predictions or projections of the future may be “forward-looking statements”, which can be identifi ed by the use of the conditional or forward-looking terminology such as “anticipates”, “believes”, “estimates”, “expects”, “may”, “plans”, “projects”, “should”, “will”, or the negative thereof or other variations thereon. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes.
    [Show full text]
  • SOUTH INTERIOR SUBSYSTEM Supersedes SOO 7T-33 Issued 13 October 2020
    BC HYDRO T&D SYSTEM OPERATIONS SYSTEM OPERATING ORDER 7T-33 SOUTH INTERIOR SUBSYSTEM Supersedes SOO 7T-33 issued 13 October 2020 Effective Date: 09 March 2021 Expiry Year: 2025 Original signed by: APPROVED BY: Bob Cielen, Operations Planning Manager, T&D System Operations Requires same day posting on bchydro.com and on BCRC Extranet upon release. Requires same day MRS conveyance notification upon posting Denotes Revision SOO 7T-33 Effective Date: 09 March 2021 Page 2 of 32 SOUTH INTERIOR SUBSYSTEM INDEX 1.0 GENERAL .............................................................................................................................................. 5 2.0 RESPONSIBILITIES .............................................................................................................................. 6 3.0 SYSTEM VOLTAGE CONTROL ........................................................................................................... 7 3.1 Nominal Voltage .............................................................................................................................. 7 3.2 SF6 Switchgear Voltage Ratings ..................................................................................................... 7 3.3 Overvoltage Protection .................................................................................................................... 7 3.4 MCA & REV RMR for Voltage Control ............................................................................................ 7 4.0 SERIES CAPACITORS OPERATIONS ..............................................................................................
    [Show full text]
  • Dams and Hydroelectricity in the Columbia
    COLUMBIA RIVER BASIN: DAMS AND HYDROELECTRICITY The power of falling water can be converted to hydroelectricity A Powerful River Major mountain ranges and large volumes of river flows into the Pacific—make the Columbia precipitation are the foundation for the Columbia one of the most powerful rivers in North America. River Basin. The large volumes of annual runoff, The entire Columbia River on both sides of combined with changes in elevation—from the the border is one of the most hydroelectrically river’s headwaters at Canal Flats in BC’s Rocky developed river systems in the world, with more Mountain Trench, to Astoria, Oregon, where the than 470 dams on the main stem and tributaries. Two Countries: One River Changing Water Levels Most dams on the Columbia River system were built between Deciding how to release and store water in the Canadian the 1940s and 1980s. They are part of a coordinated water Columbia River system is a complex process. Decision-makers management system guided by the 1964 Columbia River Treaty must balance obligations under the CRT (flood control and (CRT) between Canada and the United States. The CRT: power generation) with regional and provincial concerns such as ecosystems, recreation and cultural values. 1. coordinates flood control 2. optimizes hydroelectricity generation on both sides of the STORING AND RELEASING WATER border. The ability to store water in reservoirs behind dams means water can be released when it’s needed for fisheries, flood control, hydroelectricity, irrigation, recreation and transportation. Managing the River Releasing water to meet these needs influences water levels throughout the year and explains why water levels The Columbia River system includes creeks, glaciers, lakes, change frequently.
    [Show full text]
  • Brilliant Headpond Stewardship Initiative Draft
    DRAFT SCOPING STUDY WORKING COPY FOR VIEWING PURPOSES BRILLIANT ONLY HEADPOND STEWARDSHIP INITIATIVE KATARINA HARTWIG HEATHER LESCHIED MAY 2017 Scoping Study: Brilliant Headpond Stewardship Initiative Katarina Hartwig, Heather Leschied | May 2017 Design and Layout: Mandi McRobbie Cover Photo: Douglas Noblet, WildAir Photography ©2017 Living Lakes Canada All rights reserved. Permission is granted to reproduce all or part of this publication for non-commercial purposes, as long as you cite the source Living Lakes Canada Box 691 Invermere, BC V0A 1K0 EXECUTIVE SUMMARY The Brilliant Headpond Stewardship Initiative Scoping Study is intended to be the first phase of a stewardship strategy for the Brilliant Headpond Reservoir. The Scoping Study is guided by the Brilliant Headpond Stewardship Initiative Steering Committee, which includes leaders from the Brilliant Headpond communities of Tarrys, Thrums, Glade, Shoreacres, and South Slocan, representatives of the Ktunaxa First Nation and Okanagan Nation Alliance, and Regional District of Central Kootenay (RDCK) Area I Director, Andy Davidoff, and RDCK Area H Director, Walter Popoff. The Brilliant Headpond Reservoir (“BHPR”) was created by the damming of the Kootenay River at the Brilliant Canyon for the completion of the West Kootenay Power Corps. Brilliant Dam hydroelectric project completed in 1944. The BHPR area extends from Columbia Power Corporation’s (current owner) Brilliant Dam and Brilliant Expansion Project (2007) upstream to the Slocan Pool area just below BC Hydro’s Kootenay Canal (1975) and FortisBC’s South Slocan (1928) dams. FortisBC owns and operates the four dams on the Lower Kootenay, upstream of Brilliant Dam, and FortisBC operates Brilliant Dam and Brilliant Expansion facilities on behalf of Columbia Power Corporation.
    [Show full text]
  • Columbia Basin Plan
    FOR REFERENCE ONLY This version is now archived. Updated 2019 Columbia Region Action Plans available at: fwcp.ca/region/columbia-region Photo credit: Larry Halverson COLUMBIA BASIN PLAN June 2012 Contents 1. Introduction ......................................................................................................................... 1 1.1 Fish and Wildlife Compensation Program ........................................................................ 1 Vision ........................................................................................................................................ 2 Principles .................................................................................................................................. 2 Partners .................................................................................................................................... 2 Policy Context ........................................................................................................................... 2 Program Delivery ...................................................................................................................... 4 Project Investment Criteria ...................................................................................................... 4 2. The Columbia River Basin .................................................................................................... 6 2.1 Setting .............................................................................................................................
    [Show full text]
  • Kootenay System Overview
    Kootenay System Overview Heather Matthews March 2016 Kootenay System Storage - Koocanusa Reservoir - Duncan Reservoir - Kootenay Lake 2 Dams • Libby Dam (USACE) • Duncan Dam (BC Hydro) • Kootenay Canal Plant (BC Hydro) • River Plants (Fortis) • Corra Linn • Upper Bonnington / [City of Nelson] • Lower Bonnington • South Slocan • Brilliant & Expansion (CPC) 3 River Plants 4 Agreements & Regulatory • Columbia River Treaty • Duncan Reservoir • Koocanusa Reservoir • International Joint Commission • Kootenay Lake • BC Water Licenses • Storage and diversion for power purposes • Canal Plant Agreement • Operate like one owner 5 Libby and the Treaty Columbia River Treaty: o Provide the US with the option to build Libby Dam o Koocanusa reservoir floods 42 miles into Canada o Libby Dam provides flood and power benefits for Canada. o Power generated at Libby belongs to the US o Power benefits downstream in Canada on the Kootenay river stay in Canada o Coordination on Libby operation continues even if Treaty is terminated. o Canada can request a change in operation. If it is not to the US disadvantage the US shall agree 6 Canal Plant Agreement History • 1964: Columbia River Treaty was ratified • River plants and Brilliant already existed on the Kootenay River • Regulation of Kootenay River flows by Duncan Dam (1967) and Libby Dam (1973) made the Kootenay Canal Plant economic • In 1972 BC Hydro, West Kootenay Power and Cominco entered into the Canal Plant Agreement “cooperate in the operation of their available storages and generating facilities in British Columbia for the purpose of obtaining optimum generation” 7 Kootenay River System An Engineer’s View Since KCL is more efficient than the River Plants, water is diverted to Kootenay Canal instead of through river plants.
    [Show full text]
  • Fortisbc Inc. an Indirect Subsidiary of Fortis Inc. Annual Information Form
    FortisBC Inc. An indirect subsidiary of Fortis Inc. Annual Information Form For the Year Ended December 31, 2019 Dated March 10, 2020 FortisBC Inc. TABLE OF CONTENTS FORWARD-LOOKING INFORMATION .................................................................................................................... 3 GLOSSARY ...................................................................................................................................................................... 4 1.0 CORPORATE STRUCTURE .............................................................................................................................. 6 1.1 NAME AND INCORPORATION ................................................................................................................. 6 1.2 INTER-CORPORATE RELATIONSHIPS ..................................................................................................... 6 2.0 GENERAL DEVELOPMENT OF THE BUSINESS ......................................................................................... 6 2.1 THREE-YEAR HISTORY ......................................................................................................................... 6 3.0 THE BUSINESS OF FORTISBC INC. ................................................................................................................ 6 3.1 GENERAL ............................................................................................................................................... 6 3.2 GENERATION AND POWER SUPPLY ......................................................................................................
    [Show full text]
  • Institutional Factors Affecting Fish Passage in the Columbia River Treaty Renegotiation
    Water International ISSN: 0250-8060 (Print) 1941-1707 (Online) Journal homepage: http://www.tandfonline.com/loi/rwin20 Institutional factors affecting fish passage in the Columbia River Treaty renegotiation Graeme A. Lee Rowlands & Richard A. Wildman To cite this article: Graeme A. Lee Rowlands & Richard A. Wildman (2018): Institutional factors affecting fish passage in the Columbia River Treaty renegotiation, Water International, DOI: 10.1080/02508060.2018.1511200 To link to this article: https://doi.org/10.1080/02508060.2018.1511200 Published online: 10 Sep 2018. Submit your article to this journal View Crossmark data Full Terms & Conditions of access and use can be found at http://www.tandfonline.com/action/journalInformation?journalCode=rwin20 WATER INTERNATIONAL https://doi.org/10.1080/02508060.2018.1511200 RESEARCH ARTICLE Institutional factors affecting fish passage in the Columbia River Treaty renegotiation Graeme A. Lee Rowlandsa and Richard A. Wildmana,b aQuest University Canada, Squamish, Canada; bGeosyntec Consultants, Portland, OR, USA ABSTRACT ARTICLE HISTORY The United States and Canada have begun renegotiating the Received 21 April 2017 Columbia River Treaty, which is an international model for trans- Accepted 9 August 2018 fi boundary water governance. This paper identi es six institutional KEYWORDS ff fi factors that will a ect negotiations pertaining to sh passage dur- Dams; fish passage; ing the renegotiation of the treaty: geographical advantage, issue governance; Indigenous linkage, a basin commission, the duration of agreements, negotiat- peoples; salmon; Columbia ing autonomy and side payments. These factors and the methods River Treaty used to determine them can be applied to other transboundary river basins where basin states have a history of transboundary resource governance.
    [Show full text]
  • International Kootenay Lake Board of Control
    International Kootenay Lake Board of Control 2007 Annual Report to the International Joint Commission Grohman Narrows Viewed looking downstream from high above the City of Nelson, BC, Grohman Narrows (centre) throttles the West Arm of Kootenay Lake into the lower Kootenay River. The feature was named after William Adolph US Section: Baillie-Grohman, who, late in the 19th century, attempted to deepen the 4735 East Marginal Way South narrows in an early effort to reclaim the farmlands of the Creston Valley Seattle, Washington 98134-2385 U.S.A. and Kootenai Flats. With his attempt no match for river bed, the narrows remained relatively intact until the West Kootenay Power and Light Canadian Section: 201 – 401 Burrard Street Company dredged the constriction as a condition of the International Joint Vancouver, BC V6C 3S5 Commission’s 1938 Order for Kootenay Lake. For more information on Bill Canada Grohman, see the BC Historical Quarterly, Vol. XX, 1956. 1 Kootenay Lake 2007 Summary In general, throughout 2007, FortisBC regulated the level of Kootenay Lake below the maximum limits prescribed by the 1938 Kootenay Lake Order. However, for a considerable period prior to spring rise, the lake level exceeded the prescribed limit primarily due to extraordinary natural high inflow conditions. The maximum instantaneous water level for the lake at Queens Bay was observed at 07:00 PST on June 7th at elevation 533.481 metres1 (1750.27 feet). The minimum instantaneous water level was observed at 02:05 PST on March 12th at elevation 530.435 metres (1740.27 feet). Kootenay Lake discharged 25.5 cubic kilometres (20.7 million acre- feet) of water in 2007, with an average flow of 810 cubic metres per second (28,600 cubic feet per second).
    [Show full text]
  • The 5Th Annual West Kootenay Glacier Challenge Scotiabank MS Bike Tour!
    The 5th Annual West Kootenay Glacier Challenge Scotiabank MS Bike Tour Courtesy of: Nelson & District Chamber of Commerce 91 Baker Street Nelson B.C. Ph. 250 352 3433 [email protected] discovernelson.com Scotiabank MS Bike Tour August 20-21, 2016 The tour starts in New Denver… Slocan Valley… New Denver- Founded upon the discovery of silver in the mountains adjacent to Slocan Lake in 1891, prospectors from the United States came flooding up to the New Denver region in 1892 to stake their claims, and gather their riches. New Denver quickly grew to a population of 500 people with 50 buildings. In 1895 this growing community built government offices and supply houses for the Silvery Slocan Mines. “A Simple Curve” was filmed in and around the Slocan Valley and was debuted in 2005. The story is of a young man born to war resister parents. War Resisters- In 1976 as many as 14,000 Americans came to the Slocan Valley in an attempt to avoid the Vietnam War. About half of those who made the move were self-proclaimed war resisters, many of whom settled in the Kootenay Region. Nikkei Internment Memorial Centre This exclusive interpretive centre features the Japanese-Canadian internment history of New Denver during the Second World War. The camp is said to have held close to 1500 internees during the war. The memorial centre opened in 1994, which showcases several buildings including the community hall and three restored tar paper shacks with Japanese gardens. A well known Canadian to come out of one of these local institutions is Dr.
    [Show full text]