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HomeMy WebLinkAbout20250213Compliance Filing.pdf -�IQAFIO R® RECEIVED Thursday, February 13, 2025 LISA D. NORDSTROM IDAHO PUBLIC Lead Counsel UTILITIES COMMISSION Inordstrorn aDidahopowerxom February 13, 2025 VIA ELECTRONIC DELIVERY Monica Barrios-Sanchez, Secretary Idaho Public Utilities Commission 11331 W. Chinden Boulevard Building 8, Suite 201-A Boise, Idaho 83714 Re: Case No. IPC-E-01-16 - Compliance Filing — Changes to Energy Risk Management Policy and Standards— November 2024 Update Dear Ms. Barrios-Sanchez: Section 4.2 of the Idaho Power Energy Risk Management Standards ("Standards"), adopted pursuant to the Idaho Power Energy Risk Management Policy ("Policy"), requires that all modifications to the Standards and Policy be documented and that material revisions be filed with the Idaho Public Utilities Commission ("Commission") upon approval by the Audit Committee of the Board of Directors of Idaho Power Company ("Idaho Power" or "Company"). Accordingly, enclosed are: • A confidential clean and redlined version of the Policy. • A confidential copy of the updated Standards as approved by the Audit Committee of the Board of Directors in November 2024. • A confidential redlined version of the Standards. • A Counsel Certificate certifying that these changes were approved by the Idaho Power Audit Committee. Idaho Power modified the Standards and Policy to: • Incorporate Appendix F Risk Guidelines for the 2025-2026 Power Cost Adjustment year, which were developed by Idaho Power with input from the Customer Advisory Group, and • Make routine updates and immaterial formatting and punctuation changes that have not otherwise affected the content of the document. The Policy and Standards contain wholesale market strategy that is commercially sensitive and if disclosed freely could subject Idaho Power or its customers to risk of competitive disadvantage or other business injury. The undersigned attorney, in accordance with RP 67, certifies that the Policy and Standards contain information that is a trade secret as described in Idaho Code§74-101, et seq., and §48-801, et seq., and as such is exempt from public inspection, examination, or copying. Monica Barrios-Sanchez, Secretary February 13, 2025 Page 2 Please note that this annual documentation filing identifies updated components of the Policy and Standards; it is distinct from the Company's request in Case No. IPC-E-25-02 to materially modify its risk management structure. If you have any questions, please contact me at (208) 388-5825. Sincerely, d��c, �• �h.�h�-,-ram Lisa D. Nordstrom LDN:cd Enclosures cc: Chris McEwan (w/encls.) CERTIFICATE OF ATTORNEY ASSERTION THAT INFORMATION CONTAINED IN AN IDAHO PUBLIC UTILITIES COMMISSION FILING IS PROTECTED FROM PUBLIC INSPECTION Idaho Power Company's Compliance Filing Changes to Energy Risk Management Policy and Standards November 2024 Update Case No. IPC-E-01-16 The undersigned attorney, in accordance with Commission Rules of Procedure 67, believes that the Attachment Nos. 1-3 to Idaho Power Company's Compliance Filing dated February 13, 2025, may contain information that Idaho Power Company and a third party claims is a confidential trade secret as described in Idaho Code § 74-101, et seq., and/or § 48-801 , et seq. As such, it is protected from public disclosure and exempt from public inspection, examination, or copying. DATED this Thursday, February 13, 2025. Lisa Nordstrom Counsel for Idaho Power Company IDAHO POWER COMPANY COUNSEL CERTIFICATE I, Brian Bishop, in my capacity as Senior Counsel of Idaho Power Company, an Idaho corporation ("Idaho Power"), do hereby certify on behalf of Idaho Power that at a regular meeting of the Audit Committee of the Board of Directors of Idaho Power (the "Committee") held on November 21, 2024, the Committee adopted the following resolution: RESOLVED, that the amendments to Idaho Power Company's Energy Risk Management Standards, in the form or substantially the form presented to the Audit Committee at this meeting under Item H of the meeting agenda, are hereby approved. IN WITNESS WHEREOF, the undersigned has executed this certificate on behalf of Idaho Power Company, in his capacity as legal counsel to Idaho Power and not in his individual capacity, as of January 14, 2025. IDAHO POWER COMPANY By: Brian Bishop Senior Counsel