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Home My WebLink About20070730Monsanto to PAC 4-1 to 4-15.pdfJean Jewell, Secretary Idaho Public Utilities Commission 472 W. Washington Street Boise, Idaho 83702 LOUIS F. RACINE (1917-2005) WILLIAM D. OLSON W. MARCUS W. NYE RANDALL C. BUDGE JOHN A. BAILEY, JR. JOHN R. GOODELL. JOHN B. INGELSTROM DANIEL C. GREEN" BRENT O. ROCHE KIRK B. HADLEY FRED J. LEWIS MITCHELL W. BROWN ERIC L. OLSEN CONRAD J. AIKEN". RICHARD A. HEARN, M. DAVID E. ALEXANDERtt LANE V. ERICKSON" PATRICK N. GEORGE" SCOTT J. SMITH STEPHEN J. MUHONEN BRENT L. WHITING JUSTIN R. ELLIS JOSHUA D. JOHNSON; JONATHON S. BYINGTON DAVE BAGLEY CAROL TIPPI VOLYN;; THOMAS J. BUDGE CANDICE M. MCHUGH". Dear Mrs. Jewel: LAW OFFICES OF RACINE OLSON NYE BUDGE a BAILEY CHARTERED BOISE OFFICE 101 SOUTH CAPITOL BOULEVARD, SUITE 208 BOISE, IDAHO 83702 TELEPHONE' (208) 385-0011FACSIMILE' (208) 433-0167 201 EAST CENTER STREET POST OFFICE BOX 1391 POCATELLO, IDAHO 83204-1391 TELEPHONE (208) 232-6101 FACSIMILE (208) 232-6109 IDAHO FALLS OFFICE www.racinelaw.net 477 SHOUP AVENUESUITE 203A IDAHO FALLS, ID 63402 TELEPHONE' (208) 528-6101FACSIMILE, (208) 528-6109 SENDER'S E-MAIL ADDRESS: rcbiIDracinelaw.net .ALSO MEMBER WY It IL BARS **ALSO MEMBER UT BAR **.ALSO MEMBER CO BAR tALSO MEMBER D. C. BAR jjbLSO MEMBER MO BAR 4ALSO ME,..ElER IL BAR #4.LSO ME_'E:R WA BAR ~-- c;;::;, ,.. July 27, 2007 , _.:.,. rri::~: . (f;iC;: c:: (.,):;~:~: 'C)ef) r,,) c..n ,,",0 Re:PA C- Enclosed for filing please find the original and three copies of Monsanto Company s Fourth Data Requests to Rocky Mountain Power. Thank you for your assistance. C. BUDGE RCB:sab Enclosurescc: Service List (via e-mail) Randall C. Budge, ISB No. 1949 RACINE, OLSON, NYE, BUDGE & BAILEY, CHARTERED O. Box 1391; 201 E. Center Pocatello, Idaho 83204-1391 Telephone: (208) 232-6101 Fax: (208) 232-6109 ::0 fit 7; '1:: - '-.~. " ; !L II.:;C' ...')j ' Attorneys for Intervenor Monsanto Company BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION IN THE MATTER OF THE APPLICATION OF ROCKY MOUNTAIN POWER FOR APPROV AL ) OF CHANGES TO ITS ELECTRIC SERVICESCHEDULES Case No. P AC-E- 7- MONSANTO COMPANY'S FOURTH DATA REQUESTS TO ROCKY MOUNTAIN POWER MONSANTO COMPANY, by and through their attorneys, hereby submits this Fourth Data Request to Rocky Mountain Power, pursuant to Rule 225 of the Idaho Public Utility Commission s Rules of Procedure, IDAPA 31.01.01 , as follows: Monsanto 4-1: Please provide copies of all credit reports published by Standard & Poor (S&P), Moody s and Fitch Ratings for P acifi corp, Rocky Mountain Power (RMP) and all of Pacificorp s affiliates issued over the last two years. Monsanto 4-2: Please provide copies of all correspondence, presentations and all other materials that Pacificorp or RMP have provided to credit and equity analysts over the last two years. Monsanto 4-3: Referring to page 24 of Dr. Hadaway s direct testimony, please provide a complete copy of the publication titled , " Major Rate Case Decisions " issued by Regulatory Research Associates, Inc. on April 3 , 2007. Monsanto 4-4: At page 23 of his direct testimony, Dr. Hadaway stated that RMP is strengthening its equity component by equity infusions. Please identify the amount of equity infusions included in RMP capital structure over the last two years. MONSANTO COMPANY'S FOURTH DATA REQUEST FOR ROCKY MOUNTAIN POWER - 1 Monsanto 4-5: At page 28 of his direct testimony, Dr. Hadaway states that the 2002 analysts growth rate projections are higher than the current expectations published by Value Line. Has Dr. Hadaway prepared the same analysis using consensus analysts ' growth projections? If affirmative, please state the conclusions reached by Dr. Hadaway, and provide copies of all study workpapers. Monsanto 4-6: On page 28 of Dr. Hadaway s testimony, he references utility growth expectations. Please explain if Dr. Hadaway believes that the utilities' sustainable growth rates can exceed the growth rate ofthe U.S. economy, as measured by the GDP , over long periods of time. Monsanto 4-7: At page 29, Dr. Hadaway states that his constant growth DCF results did not meet the risk premium reasonableness checks and he excluded them from his final DCF range. Please state how the DCF range and the ROE recommendation would change if Dr. Hadaway includes his constant growth DCF results. Monsanto 4-8: Referring to page 4 of Mr. Williams' direct testimony, please provide the Fitch report issued when RMP was downgraded in January 2006. Monsanto 4-9: On page 5 of his direct testimony, Mr. Williams identifies the amount of equity infusion the company received in 2006. Please identify the following: (1) equity infusions over the last two years, and (2) the plannedlbudgeted equity infusion into RMP over the next two years. Monsanto 4-10: On page 8 of Mr. Williams' direct testimony, he states that RMP relies on purchased power contracts. Please provide all workpapers deriving the off-balance amount of purchased power debt equivalence. Monsanto 4-11: Referring to page 8 of Mr. Williams ' direct testimony, please provide a copy of all credit reports issued by the major credit rating agencies that discuss RMP's off-balance sheet (OBS) debt and its impact on the company s financial ratios. Monsanto 4-12: Referring to page 8 of Mr. Williams' direct testimony, please provide the following: (1) the S&P report that estimated RMP's off-balance sheet (OBS) additional debt of $537 million related to the Company s purchased power agreements, and (2) an excel workpaper prepared by Pacificorp or RMP that derives this OBS debt equivalent. Monsanto 4-13: Please provide a copy ofRMP's five-year capital expenditure, capital funding, and total capital requirement budget. Monsanto 4-14: Please estimate RMP's jurisdictional credit rating financial metrics using MONSANTO COMPANY'S FOURTH DATA REQUEST FOR ROCKY MOUNTAIN POWER - 2 S&P's methodology based on RMP's current and proposed rates. Provide all workpapers on electronic spreadsheets with all formulas intact. Monsanto 4-15: Referencing Mr. McDougal's direct testimony at page 4, line 7, the witness references an adjustment of $3.6 million as a result of the rate mitigation cap. Please provide a written description of how the results of the Revised Protocol Jurisdictional cost study are adjusted downward to reflect the rate mitigation cap in the class cost of service study as filed by Mr. Tucker. Provide any workpapers used in the class cost of service to reflect the rate mitigation cap. DATED this 27th day of July, 2007. RACINE, OLSON, NYE, BUDGE & BAILEY, CHARTERED By ~/~ RANDALL C. BUDGE MONSANTO COMPANY'S FOURTH DATA REQUEST FOR ROCKY MOUNTAIN POWER - 3 CERTIFICATE OF MAILING I HEREBY CERTIFY that on this 27th day of July, 2007, I served a true, correct and complete copy of the foregoing document, to each of the following, via the method so indicated: Jean D. Jewell, Secretary (original and 3) Idaho Public Utilities Commission O. Box 83720 Boise, ID 83720-0074 E-mail: jjewell~puc.state.id.S. Mail Brian Dickman Rocky Mountain Power 201 South Main, Suite 2300 Salt Lake City, Utah 84111 brian. di ckman~pacifi corp. com Mail Dean Brockbank Justin Brown Rocky Mountain Power 201 South Main, Suite 2300 Salt Lake city, Utah 84111 dean. brockbank~pacifi corp. com Justin. brown(q:J,paci ficorp. com Mail Data Request Response Center PacifiCorp 825 NE Multnomah, Suite 2000 Portland, Oregon 97232 Fax: 503-813-6060 datarequest(q:J,pacifi corp. com Mail Maurice Brubaker Katie Iverson Brubaker & Associates, Inc. 1215 Fern Ridge Parkway, Suite 208 St. Louis, MO 63141 mbrubaker~consul tbai. com ki verson~consul tbai. com Mail MONSANTO COMPANY'S FOURTH DATA REQUEST FOR ROCKY MOUNTAIN POWER - 4 James R. Smith Monsanto Company O. Box 816 Soda Springs, Idaho 83276 iim.r .smith~monsanto .com Mail Eric L. Olsen Racine, Olson, Nye, Budge & Bailey O. Box 1391 Pocatello, Idaho 83204-1391 elo~racinelaw .net Mail Tim Buller Agrium, Inc. 3010 Conda road Soda Springs, Idaho 83276 tbull er(Cl),agrium. com Mail ConleyE. Ward Michael C. Creamer Givens Pursley LLP 601 W. Bannock Street O. Box 2720 Boise, ID 83701-2720 cew~givenspursley.com Mail Dennis E. Peseau, Ph. Utility Resources, Inc. 1500 Liberty Street S., Ste. 250 Salem, OR 97302 dpeseau~excite.com Mail RANDALL C. BUDGE MONSANTO COMPANY'S FOURTH DATA REQUEST FOR ROCKY MOUNTAIN POWER - 5