Rates applications - Notice of application and alert templates and Franchise applications
As a result of the new eFiling System, applicants are no longer required to complete a draft notice or alert.
Please see Changes to how you operate for more information.
Filing requirements for debt applications
1. Substantiate the purpose of the issuance, for instance:
a) If the purpose of the issuance is to meet the capital structure prescribed in a generic cost of capital proceeding, please submit a pro forma capital structure before and after debt issuance.
b) If the purpose of the issuance is to finance capital expenditure, please include a forecast of the capital expenditure with reference to the general tariff application or performance-based regulation capital tracker application where the expenditure was approved, or is currently being processed in an application or will be filed for approval. For utilities whose rates are set using performance-based regulation, and for whom the debt is being issued to finance capital expenditures that have not been applied for as capital trackers, provide high-level descriptions of the capital expenditures that the debt is meant to finance.
c) If the purpose of the application is to refinance existing debt, please provide a list of the utility’s debt facilities that the new debt issuance will be replacing.
2. Legal opinion confirming that all required corporate governance authorizations for the issuance of the debt have been obtained and that debt may be legally incurred by the utility.
3. Resolution of the applicant’s board of directors authorizing the creation of debt, specifying the date on which the resolution was passed.
4. Principal amounts and corresponding maturity dates.
5. Terms and conditions of the debt such as estimates of the time of issuance, interest rate per annum, and any other relevant details.
6. In the case of an intercompany issuance, please provide details of the entity going to the market, the estimated time of issuance, the amount of debt to be raised in the market, the coupon rates for that debt, the corporate structure through which the issuance flows through to the utility and the coupon rates that will be applicable to the utility.
7. The distribution of the issuance, if any, between various functions of a utility (i.e. distribution and transmission) or between utility affiliates.
Printer friendly version of minimum debt filing requirements as indicated in Bulletin 2014-09.