20240813Decision Memo.pdf

DECISION MEMORANDUM
TO: COMMISSIONER ANDERSON
COMMISSIONER HAMMOND
COMMISSIONER LODGE
COMMISSION SECRETARY
COMMISSION STAFF
LEGAL
FROM: CHRIS BURDIN
DEPUTY ATTORNEY GENERAL
DATE: AUGUST 13, 2024
SUBJECT: IN THE MATTER OF THE APPLICATION OF GREYLOCK ENERGY
HOLDINGS, LLC FOR APPROVAL OF ITS STOCK AND OWNERSHIP
INTERESTS PURCHASE AGREEMENT WITH ISRAEL RAY FOR THE
ACQUISITION OF THE ATLANTA POWER COMPANY; CASE NO.ATL-
E-22-02.
On October 14, 2022, Greylock Energy Holdings, LLC ("Greylock"), filed an application
with the Idaho Public Utilities Commission ("Commission") for approval of a Stock and
Ownership Interests Purchase Agreement("Agreement") between Greylock and Israel Ray as the
majority, and only known, shareowner in the Atlanta Power Company ("Company"). The
Agreement provided for Greylock to purchase all of the assets of the Company including its
Certificate of Public Convenience and Necessity No. 300 ("CPCN") for the provision of electric
service to the approximately seventy-five (75) individual customers in and around the community
of Atlanta, Idaho.
On December 30, 2022, the Commission issued Final Order No. 35649 approving the
application. As part of the approval, the order provided:
IT IS FURTHER ORDERED that no later than August 1, 2023, the parties
shall submit updated and complete legal descriptions of the land swap described in
Section 6.4 of the PSA, indicating clear ownership of the land in question, and
clearly delineating Greylock's access to all equipment and land necessary for the
continued operation of Atlanta Power.
Order No. 35649 at 12.
DECISION MEMORANDUM 1

On July 25, 2023, Greylock filed a Motion to Extend Time for Compliance Filing. On
August 9, 2023, the Commission issued Order No. 35876 granting an extension of time for the
compliance filing until May 1, 2024.
On April 24, 2024, Greylock filed a second Motion to Extend Time for Compliance Filing
("Motion") requesting an extension of time until August 1, 2024. Greylock represented that
"[c]urrent snow levels make it difficult to complete any type of surveying work," and that
"Greylock Energy Holdings and Israel Ray are renegotiating section 6.4 of the purchase
agreement."
On July 22, 2024, Greylock filed an Amendment to STOCK AND OWNERSHIP
INTEREST PURCHASE AGREEMENT ("Amendment"). The Amendment would remove
section 6.4 of the Agreement that contains the land swap.
STAFF RECOMMENDATION
Commission Staff ("Staff') recommends that the Commission treat Greylock's filed
Amendment as a Request for Approval of the Amendment to the Stock and Ownership Interest
Purchase Agreement. Staff recommends the Commission issue a Notice of Request and Notice of
Modified Procedure establishing a September 17, 2024, initial comment deadline, and an October
1, 2024, reply comment deadline.
COMMISSION DECISION
Does the Commission wish to issue a Notice of Request and Notice of Modified Procedure
establishing a September 17, 2024, initial comment deadline, and an October 1, 2024, reply
comment deadline?
Chris Burdin
Deputy Attorney General
I:\Lega1\ELECTRIC\ATL-E-22-02 Grey1ock\memos\ATLE2202_dec2_cb.docx
DECISION MEMORANDUM 2