20250603Final_Order_No_36627.pdf

Office of the Secretary
Service Date
June 3,2025
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
IN THE MATTER OF THE APPLICATION ) CASE NO. INT-G-25-03
OF INTERMOUNTAIN GAS COMPANY )
FOR AUTHORIZATION TO ISSUE AND ) ORDER NO. 36627
SELL SECURITIES )
On May 9, 2025, Intermountain Gas Company ("Company") applied to the Idaho Public
Utilities Commission("Commission")under Idaho Code §§ 61-901, et seq., for authority to issue
and sell up to $50 million of unsecured notes between the months of July and October of 2025
with maturity dates ranging from five to forty years ("Application"). Application at 2. The
Company represented the securities will be used for one or more of the following: (1)refinancing
existing debt; (2) funding of capital expenditures; and(3) general corporate purposes.Id. at 3.
Pursuant to Idaho Code § 61-904,the Commission has 30 days from the filing date to issue
an order. After reviewing the record, the Commission approves the Application as discussed
below.
STAFF REVIEW AND RECOMMENDATION
Commission Staff("Staff") analyzed the Application, the requested authority, proposed
interest rates and loan terms, the requirements of Idaho Code § 61-901, et seq., and Rule 141 of
the Commission's Rules of Procedure. Staff recommended the Commission approve the
Company's request. Staff recommended the Company be required to file the loan documents
showing the amount borrowed and loan terms within seven days of those documents being
available. Staff recommended the Company be ordered to continue filing quarterly reports that
include the date of issuance,principal amount, date of maturity, and identity of payee.
FINDINGS AND DISCUSSION
The Company is a public utility in Idaho that operates as a gas corporation that engages in
the purchase,distribution,and sale of natural gas.Idaho Code§§ 61-129,61-117.The Commission
has jurisdiction over the Application under Idaho Code §§ 61-901, et seq.
After reviewing the Application and all submitted material, the Commission finds that the
proposed transaction is in the public interest and a formal hearing on this matter is not required.
Further, the Commission finds that the proposed issuance is for a lawful purpose and is within the
Company's corporate powers,that the Application reasonably conforms to Rules 141 through 150
ORDER NO. 36627 1

of the Commission's Rules of Procedure, and that the Company has paid all fees due under Idaho
Code § 61-905. Accordingly, the Commission approves the Application and the proposed
financing.
The Commission's Order approving the proposed sale of unsecured notes and the general
purposes to which the proceeds may be put is not a determination that the Commission approves
of the particular use to which these funds will be put. This Order is not a Commission
determination or approval of the type of financing or the related costs for ratemaking purposes.
The Commission does not have before it for determination, and so does not determine, the effect
of the proposed transaction on rates the Company will charge for utilities.
ORDER
IT IS HEREBY ORDERED that the Company's Application for authority to issue and sell
securities, up to $50 million, is granted.
IT IS FURTHER ORDERED that the Company shall file loan documents showing the
amount borrowed and loan terms within seven days of those loan documents becoming available.
IT IS FURTHER ORDERED that the Company must continue to file quarterly reports with
the Commission setting forth the date of issuance,principal amount, interest rate, date of maturity,
and identity of payee for all promissory notes issued during the quarter. The Company must
continue to file its capitalization ratios with the quarterly reports.
IT IS FURTHER ORDERED that the foregoing authorization is without prejudice to the
regulatory authority of the Commission with respect to rates, utility capital structure, service
accounts,valuation, estimates for determination of cost or any other matter which may come before
this Commission pursuant to its jurisdiction and authority as provided by law.
IT IS FURTHER ORDERED that nothing in this Order and no provisions of Chapter 9,Title
61, Idaho Code, or any act or deed done or performed in connection therewith shall be construed to
obligate the State of Idaho to pay or guarantee in any manner whatsoever any security authorized,
issued, assumed, or guaranteed under the provisions of Chapter 9, Title 61, Idaho Code.
IT IS FURTHER ORDERED that this Order does not constitute acceptance of the
Company's exhibits or other materials accompanying the Application for any purpose other than the
issuance of this Order.
THIS IS A FINAL ORDER. Any person interested in this Order may petition for
reconsideration within twenty-one (21) days of the service date of this Order. Within seven (7)
ORDER NO. 36627 2

days after any person has petitioned for reconsideration, any other person may cross-petition for
reconsideration. See Idaho Code § 61-626.
DONE by Order of the Idaho Public Utilities Commission at Boise, Idaho this 3rd day of
June 2025.
EDWARD LODGE, P SIDENT
a, �4
J R. HAMMOND JR., COMMISSIONER
DAYN HA IE, COMMISSIONER
ATTEST:
AKIca s an ez
Commission Secre ary
I:\Legal\GAS\INTG2503_securities\INTG2503_Fina1J I.docx
ORDER NO. 36627 3