Compliance Filing

IDAHO POWER COMPANY’S COMPLIANCE FILING - 1
LISA C. LANCE (ISB No. 6241)
DONOVAN E. WALKER (ISB No. 5921)
Idaho Power Company
1221 West Idaho Street (83702)
P. O. Box 70
Boise, Idaho 83707
Telephone: [phone]
Facsimile: [phone]
[e-mail]
[e-mail]

Attorneys for Idaho Power Company

BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION

IN THE MATTER OF THE APPLICATION
OF IDAHO POWER COMPANY FOR
APPROVAL OF THE FIRST AMENDMENT
TO THE ENERGY SALES AGREEMENT
BETWEEN IDAHO POWER AND PICO
ENERGY, LLC.

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CASE NO. IPC-E-26-22

IDAHO POWER COMPANY’S
COMPLIANCE FILING

Idaho Power Company ("Idaho Power" or "Company") hereby respectfully submits
to the Idaho Public Utilities Commission ("Commission") the accompanying Replacement
First Amendment to the Energy Sales Agreement between Idaho Power Company and
Pico Energy, LLC in compliance with Order No. 37186 in the above-captioned case.
I. INTRODUCTION AND BACKGROUND
On July 6, 2026, the Company applied to the Commission for an order approving
the First Amendment to the Energy Sales Agreement between Idaho Power Company
and Pico Energy, LLC (“First Amendment”). On September 28, 2026, the Commission

IDAHO POWER COMPANY’S COMPLIANCE FILING - 2
issued Order No. 37186, approving the First Amendment subject to the Company
submitting a compliance filing with an updated First Amendment that reflects correct units
and values of the capacity amounts stated in Appendix B-1 and B-4 of the Energy Sales
Agreement.
II. THE FILING
Pursuant to the Commission's direction in Order No. 37186, Idaho Power submits
Attachment 1, the Replacement First Amendment to the Energy Sales Agreement
between Idaho Power Company and Pico Energy, LLC that reflects correct units and
values of the capacity amounts stated in Appendix B-1 and B-4 of the Energy Sales
Agreement.
III. REQUEST FOR RELIEF
Idaho Power respectfully requests that the Commission accept the Replacement
First Amendment to the Energy Sales Agreement between Idaho Power Company and
Pico Energy, LLC in compliance with its directive in Order No. 37186.
Respectfully submitted this 14th day of October 2026.

LISA C. LANCE
Attorney for Idaho Power Company

IDAHO POWER COMPANY’S COMPLIANCE FILING - 3

CERTIFICATE OF SERVICE

I HEREBY CERTIFY that on the 14th day of October 2026, I served a true and
correct copy of Idaho Power Company’s Compliance Filing upon the following named
parties by the method indicated below, and addressed to the following:

Commission Staff
Kelsea E. Ross
Deputy Attorney General
Idaho Public Utilities Commission
11331 W. Chinden Blvd., Bldg No. 8,
Suite 201-A (83714)
PO Box 83720
Boise, ID 83720-0074

Hand Delivered
U.S. Mail
Overnight Mail
_____ FTP Site
X Email [e-mail]

Courtesy Copy Sent To:
Montauk Renewables, Inc., John Ciroli: [e-mail]

Christy Davenport
Legal Administrative Assistant

BEFORE THE

IDAHO PUBLIC UTILITIES COMMISSION

CASE NO. IPC-E-26-22

IDAHO POWER COMPANY

ATTACHMENT NO. 1

Power Purchase Agreement
Project: 40565975 Pico Energy, LLC
First Amendment - Page 1 of 6
REPLACEMENT FIRST AMENDMENT
TO THE
ENERGY SALES AGREEMENT
BETWEEN
IDAHO POWER COMPANY
AND
PICO ENERGY, LLC
This Replacement First Amendment of the PURPA Energy Sales Agreement (“ESA” or
“Agreement”) is entered into on this ____ day of ________ 2026, by and between Idaho Power
Company, an Idaho corporation (“Idaho Power” or “Buyer”), and Pico Energy, LLC (“Seller”),
(individually a “Party” and collectively the “Parties”).
WHEREAS, Parties entered into an ESA on December 13, 2019, for the purchase and sale
of generation produced by Pico Energy, LLC, Cogeneration project (“Facility”) with an Initial
Term of 10 years from the Operation Date, which was approved by the Idaho Public Utilities
Commission’s (“IPUC”) on February 7, 2020, in Order No. 34544; and
WHEREAS, the Facility wishes to reduce the Nameplate Capacity from 2.276 MW to
1.138 MW due to the decommissioning of one out of the two generators because of age, condition
and need for extensive repairs; and
WHEREAS, Seller has recently been operating the Facility with one generator and has
adjusted the monthly Estimated Net Energy Amounts to reflect these operations;
WHEREAS, Parties have agreed to the modification due to the Qualifying Facility
Category, Primary Energy Source, and Fueled Rate class not changing, still deeming the Facility
eligible for the Fueled Other Facility Energy Prices as outlined in the ESA and in accordance with
IPUC Order 34350, with capacity payments per IPUC Order No. 32697, plus the Adjustable
Component in effect, and with seasonalization factors applied.
WHEREAS, the Parties entered into the First Amendment to the ESA to include changes
that reflect the reduction to Nameplate Capacity from 2.276 MW to 1.138 MW and to add IPUC-
approved language pertaining to modifications of the Facility. These changes reside in Article 23:
MODIFICATIONS, Appendixes B-1 and B-4 of the ESA. The First Amendment was executed
by the Parties and submitted to the IPUC for its review and approval in Case No. IPC-E-26-22.
On September 28, 2026, the IPUC issued Order No. 37186 approving the First Amendment,
subject to the condition that the Parties file an updated First Amendment as a compliance filing
reflecting corrected units and values of the capacity amounts stated in Appendix B-1 and B-4 of
the ESA.
WHEREAS, the Parties have executed this Replacement First Amendment in compliance
with the IPUC’s Order No. 37186 making the necessary corrections to the language from Appendix
B-1 and B-4 of the ESA.
Power Purchase Agreement
Project: 40565975 Pico Energy, LLC
First Amendment - Page 2 of 6
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be
legally bound, the Parties hereto agree as follows:
1. Incorporation of Recitals. The above-stated recitals are incorporated into and made a
part of this Replacement First Amendment by this reference to the same extent as if these recitals
were set forth in full at this point.
2. Amendment. Replace Article XXIII: MODIFICATION entirely and modify Appendices
B-1 and B-4 as follows (strikethrough indicates deletions and underline indicated additions):
ARTICLE XXIII: MODIFICATION
23.1 No later than the First Energy Date, the Seller will provide Idaho Power with an “as-built”
description of the Facility in the form set forth in Appendix B.
23.2 The Seller will not modify the Facility from the description set forth in Appendix B without
prior notification to Idaho Power. A proposed modification to the Facility that would
change the Facility as described in Appendix B is referred to herein as a “Proposed Facility
Modification.” Proposed Facility Modification does not include additions or expansions
to the Facility that result in an increase to the Maximum Capacity Amount, which are
addressed in paragraph 23.6. The Seller may not begin construction of any Proposed
Facility Modification(s) unless and until the following requirements have been met:
1) Seller has promptly notified Idaho Power of the Proposed Facility
Modification(s) prior to initiating the modification design, specification,
purchasing and construction process.
2) Seller has provided Idaho Power with detailed plans regarding the Proposed
Facility Modification(s), including proposed revisions to the as-built
description of the Facility set forth in Appendix B.
3) The Proposed Facility Modification has been reviewed by Idaho Power and
a determination made to either pursue an amendment as a Proposed Facility
Modification pursuant to paragraphs 23.3 and 23.4 or as an expansion or
additional project pursuant to paragraph 23.6.
23.3 Idaho Power will review any Proposed Facility Modification(s) and “as-built” descriptions
to determine whether an amendment of the Agreement is appropriate as set forth in
paragraph 23.4. In reviewing any Proposed Facility Modification(s) or actual modifications
reflected in the as-built description, Idaho Power shall consider the following information:
1) The nature, scope, and extent of the proposed or actual modification(s),
2) The impact, if any, on the applicable avoided cost rates or other relevant
terms and conditions,
Power Purchase Agreement
Project: 40565975 Pico Energy, LLC
First Amendment - Page 3 of 6
3) Such other information as may reasonably be necessary including the effect
on any other provisions hereof which may be impacted by the proposed or
actual modification.
Proposed modifications could result in several possible actions including but not limited to
no change to Appendix B, and thus no further action; an amendment to conform Appendix
B to the modified Facility; an amendment to adjust the pricing and other relevant terms and
conditions; or a termination and new Agreement.
23.4 Based on its review, Idaho Power, at its sole determination in accordance with the
provisions of the Public Utility Regulatory Policies Act of 1978 and any amendments
thereto (“PURPA”) and subject to Commission approval, may choose to enter into an
amendment of the Agreement to adjust the pricing or other relevant terms and conditions
as necessary, including Appendix B.
23.4.1 If Idaho Power determines that it is appropriate to revise the Agreement, the
Parties will enter into a written amendment to the Agreement revising the
relevant terms, conditions, description in Appendix B, and, if necessary,
pricing, referred to herein as the “Facility Modification Amendment”. The
Facility Modification Amendment will be submitted to the Commission for
approval. If the pricing is adjusted, the Parties will agree on and include in
the amendment a pricing true-up mechanism to ensure that the correct rates
apply to the modified Facility from the completion date of the modification.
23.4.2 If the Commission determines that the Proposed Facility Modification
would require termination of the Agreement, the Seller may abandon the
Proposed Facility Modification or accept the termination. If the Seller
accepts the termination, Seller will be responsible for Termination
Damages, if any, and the Parties may negotiate a new agreement based on
the Facility as modified.
23.5 In addition to prior notification of any modifications to the Facility from the description
set forth in Appendix B, no later than thirty (30) days following the date of substantial
completion of such modification, and prior to the first Operation Date of such modification,
Seller must provide Idaho Power with an “as-built” description of the modified Facility in
the form set forth in Appendix B of this Agreement; provided that the Facility, as reflected
in the “as-built” description to be provided under this paragraph, may not deviate from the
Facility Modification Amendment, except, in each case, to the extent such further
modification(s) are authorized under a subsequent written amendment to this Agreement
that is executed by the Parties and approved by the Commission. If the “as-built”
description deviates from the then-approved Appendix B, Idaho Power will review it and
follow the process described in paragraphs 23.3 and 23.4.
23.6 Idaho Power is not required to purchase any Net Energy above the Maximum Capacity
Amount. If Seller builds an expansion or additional project such that the expansion, or
additional project would be deemed a single Qualified Facility or the same site under FERC
regulations, Seller may not require Idaho Power (and Idaho Power will have no obligation
Power Purchase Agreement
Project: 40565975 Pico Energy, LLC
First Amendment - Page 4 of 6
to purchase pursuant to this Agreement) the output of any such expansion, or additional
facility under the terms, conditions and prices in this Agreement. Instead, Seller may
exercise any rights to enter into a new agreement for the sale of such incremental energy
from such additional facility that is a Qualified Facility under then-applicable laws and
regulations.
23.7 Idaho Power is not obligated to and shall not make any incremental payment to Seller as a
result of any modification, addition, or expansion of the Facility if such modification was
not authorized and approved by the Commission pursuant to the provisions of this Article
23. Should the Seller modify, construct additions, and/or expand the Facility without
notification to Idaho Power nor the authorization and approval of the Commission pursuant
to the provisions of this Article 23, any incremental payments to Seller resulting from and
subsequent to the modification, addition, and/or expansion of the Facility that deviate from
the description in Appendix B shall be unauthorized and immediately due and owing back
to Idaho Power. Failure to repay or reasonably offset future payments made to Seller
designed to repay and recoup any unauthorized payment amounts will be deemed a material
breach of this Agreement.
23.8 No modification to this Agreement shall be valid unless it is in writing and signed by both
Parties and subsequently approved by the Commission.
B-1 DESCRIPTION OF FACILITY
Two One - GE Jenbacher 416 Gensets. 1,138 kW, 1,890 KVA 60 HZ 1693 A @ p.f. = .08 480 V
Facility Nameplate Capacity: 2,276 kW 1.138 MW
Qualifying Facility Category (Small Power Production or Cogeneration): Cogeneration
Primary Energy Source (Hydro, Wind, Solar, Biomass, Waste, Geothermal): Natural Gas
Fueled or Non-Fueled Rate (Generator primarily fueled with fossil or non-fossil fuel): Fueled
Any modifications to the Facility, including but not limited to the generator or turbine, that
(1) increases or decreases the Facility Nameplate Capacity, or (2) changes the Qualifying Facility
Category, or (3) changes the Primary Energy Source or (4) changes to the generator fuel and
subsequently the Fueled Rate or Non-Fueled Rate, will require a review of the Agreement terms,
conditions and pricing and Idaho Power, at its sole determination, may adjust the pricing or
terminate the Agreement. If the Agreement is terminated because of said modifications, the Seller
will be responsible for any Termination Damages.
B-4 MAXIMUM CAPACITY AMOUNT:
The Maximum Capacity Amount is 2.13 MW 1.138 MW which is consistent with the value
provided by the Seller to Idaho Power in accordance with the GIA. This value is the maximum
generation (kWMW) that potentially could be delivered by the Seller’s Facility to the Idaho Power
electrical system at any moment in time.
Power Purchase Agreement
Project: 40565975 Pico Energy, LLC
First Amendment - Page 5 of 6
3. Commission Approval. The obligations of the Parties under this Replacement First
Amendment are subject to the IPUC’s approval of this Replacement First Amendment, and such
approval being upheld on appeal, if any, by a court of competent jurisdiction. The Parties will
submit this Replacement First Amendment to the IPUC and request approval or rejection in its
entirety.
4. Effect of Amendment. Except as expressly amended by this Replacement First
Amendment, the Agreement, as amended, shall remain in full force and effect.
5. Capitalized Terms. All capitalized terms used in this Replacement First Amendment and
not defined herein shall have the same meaning as used in the Agreement, as amended.
6. Scope of Amendment. This Replacement First Amendment shall be binding upon and
inure to the benefit of the Parties hereto, and their respective heirs, executors, administrators,
successors, and assigns, who are obligated to take any action which may be necessary or proper to
carry out the purpose and intent thereof.
7. Authority. Each Party represents and warrants that (i) it is validly existing and in good
standing in the state in which it is organized, (ii) it is the proper party to amend the Agreement,
and (iii) it has the requisite authority to execute this Replacement First Amendment.
8. Counterparts. This Replacement First Amendment may be executed in any number of
counterparts, each of which shall be deemed an original and all of which taken together shall
constitute a single instrument.
Power Purchase Agreement
Project: 40565975 Pico Energy, LLC
First Amendment - Page 6 of 6
IN WITNESS WHEREOF, the Parties hereto have caused this Replacement First
Amendment to be duly executed as of the date above written.
PICO ENERGY, LLC
By: _________________________________
Name: _______________________________
Title: ________________________________
Date: ________________________________
IDAHO POWER COMPANY
By: _________________________________
Name: _______________________________
Title: ________________________________
Date: ________________________________