20240130MIN.pdf

IDAHO PUBLIC UTILITIES COMMISSION
MINUTES OF DECISION MEETING January 30, 2024 – 1:30 P.M.

In attendance was Commissioner Eric Anderson, Commissioner John R. Hammond, Jr. and Commissioner Edward Lodge. Commissioner Anderson called the meeting to order.
The first order of business was ADOPTION OF THE PROPOSED AMENDED AGENDA for January 30, 2024. Commissioner Anderson made a motion, under Idaho Code § 74-204, to amend the agenda as proposed, moving Action Item No. 3 to Matters in Progress, Joseph Terry’s January 30, 2024, Decision Memorandum re: In the Matter of the Application of Avista Corporation for an Order Authorizing the Offering, Issuance and Sale of Debt Securities not to Exceed $300,000,000; Case No. AVU-U-24-01. A vote was taken on the motion and it carried unanimously. The next order of business was APPROVAL OF MINUTES FROM THE PREVIOUS MEETING on
January 23, 2024. The Commission voted unanimously to approve the minutes as written. The next order of business was CONSENT AGENDA:
2. Action Item: Yao Yin’s January 30, 2024, Decision Memorandum re: In the Matter of the Joint Petition of Avista Corporation and Stimson Lumber Company for Approval of Amendment No. 3 to the Power Purchase and Sale Agreement; Case No. AVU-E-23-14. 3. Action Item: Michael Duval’s January 30, 2024, Decision Memorandum re: In the Matter of the Proposed Cancellation of Ponderosa Terrace Estates Water System, Inc.’s Certificate of Public Convenience and Necessity; Case No. PTE-W-24-01. 4. Action Item: Adam Triplett’s January 30, 2024, Decision Memorandum re: In the Matter of Gem State Water Company’s Application for Approval of Acquisition of the Assets of the Water Business of Valiant Idaho, LLC; Case No. GSW-W-23-01. 5. Action Item: Adam Triplett’s January 30, 2024, Decision Memorandum re: In the Matter of Paul Madalena’s Formal Complaint Against Idaho Power Company; Case No. IPC-E-24-03. Commissioner Anderson made a motion to approve Staff’s recommendations for Item 2, 3, 4, and 5 under the Consent Agenda. A vote was taken on the motion and it carried unanimously.
The next order of business was MATTERS IN PROGRESS:
6. Action Item: Joseph Terry’s January 30, 2024, Decision Memorandum re: In the Matter of the Application of Avista Corporation for an Order Authorizing the Offering, Issuance and Sale of Debt Securities not to Exceed $300,000,000; Case No. AVU-U-24-01.
Mr. Tripplet presented the Decision Memorandum and updated the Commission. Avista filed the application without the necessary filing fees. The decision memorandum was drafted to make the commission’s decision contingent upon the receipt of the filing fees. The filing fees were submitted by Avista on Monday prior to the Decision Meeting.
Commissioner Anderson made a motion to approve Avista Corporation’s request for authority to issue an additional $300,000,000 of debt securities and allow the debt authority under this Order to be continuing
during the authorized term provided the senior secured debt rating levels remain investment grade and the all-in coupon rate remains below 8.0%. A vote was taken on the motion and it carried unanimously. Commissioner Anderson stated there was no further business before the Commission and the meeting was adjourned.
__________________________ 2/5/2024
COMMISSION SECRETARY DATE OF APPROVAL