20251110Final_Order_No_36839.pdf

Office of the Secretary
Service Date
November 10,2025
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. 36839
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. On
June 3, 2025, the Commission approved the Application as filed. Order No. 36627.
On October 31, 2025, the Company filed a Motion to Confirm or Expand Timing of
Securities Issuance ("Motion") requesting the Commission extend the authorized time-period for
securities issuance. The Company represents that due to unforeseen circumstances, it anticipates
issuing and selling some of the unsecured notes in November 2025 instead of October 2025.
Motion at 1. To guard against further unforeseen delays and the need to request further extensions,
the Company seeks authority to issue and sell the unsecured notes until December 31, 2025.Id. at
2.
With this Order,the Commission grants the Company's Motion,revising Order No. 36627
by authorizing the Company to issue and sell up to $50 million of unsecured notes between July
1, 2025 and December 31, 2025.
STAFF REVIEW AND RECOMMENDATION
Commission Staff ("Staff') analyzed Order No. 36627, the Company's Motion, the
requirements of Idaho Code § 61-901, et seq., and Rule 141 of the Commission's Rules of
Procedure. Staff recommended the Commission grant the Company's Motion. Staff reiterated its
prior recommendation that the Commission require the Company to file the loan documents
showing the amount borrowed and loan terms within seven days of those documents being
available, and that the Commission order the Company to continue filing quarterly reports that
include the date of issuance,principal amount, date of maturity, and identity of payee.
ORDER NO. 36839 1

COMMISSION FINDINGS AND DECISION
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 Motion and re-reviewing the Application and all submitted material,
the Commission finds that the proposed modification to the previously approved transaction is in
the public interest and a formal hearing on this matter is not required. Further, the Commission
finds that the modification proposed by the Motion does not affect its findings that the issuance is
for a lawful purpose and is within the Company's corporate powers, that the Application
reasonably conforms to Rules 141 through 150 of the Commission's Rules of Procedure, and that
the Company has paid all fees due under Idaho Code § 61-905. Accordingly, the Commission
grants the Company's Motion.
We direct the Company to continue: (1) filing with the Commission the loan documents
showing the amount borrowed and all other terms of the loan within seven days of those documents
being available, and (2) filing quarterly reports that include date of issuance, principal amount,
date of maturity, and identity of payee.
ORDER
IT IS HEREBY ORDERED that the Company's Motion is granted. The Company is
authorized to continue issuing and selling up to $50 million of unsecured notes through December
31, 2025.
IT IS FURTHER ORDERED that the Company shall continue to 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.
ORDER NO. 36839 2

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.
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)
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 1 Olh day of
November 2025.
Gv� Q
DWARD LODGE, RE 4NT
OHN R. HAMMOND JR., COMMISSIONER
HARDI , COMM SSIONER
ATTEST:
ga5� I%.,
Laur alderon Robles
Interim Commission Secretary
1:\Lega1\GAS\INTG2503_securities\INTG2503_Fina12j1.docx
ORDER NO. 36839 3