20190108Compliance Filing.pdf

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!_,: _r:19 -;3 Fi,l Lr: c7LISA D. NORDSTROM
Lead Counsel
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January 8, 2019
VIA HAND DELIVERY
Diane Hanian, Secretary
ldaho Public Utilities Commission
472 West Washington Street
Boise, ldaho 83702
Case No. IPC-E-01-16 - Compliance Filing - Changes to Energy Risk
Management Policy and Standards - December 2018 Update
Dear Ms. Hanian
The IDACORP, lnc., Energy Risk Management Standards ("Standards"), adopted
pursuant to the IDACORP, lnc., Energy Risk Management Policy ("Policy"), require that any
modifications to the Policy and Standards be filed with the ldaho Public Utilities Commission
("Commission") upon approval by the Audit Committee of the Board of Directors of ldaho Power
Company ("ldaho Power" or "Company"). Accordingly, enclosed are:
An original and three (3) confidential copies of the updated Standards and Policy
as approved by the Audit Committee of the Board of Directors;
The redlined version of each page that was changed (except for the updates to
Appendix F described below); and
An original and three (3) copies of a Counsel Certificate certifying that these
changes were approved by the IDACORP Audit Committee.
ldaho Power modified the Standards to:o lncorporate Appendix F Risk Guidelines for the 2019-2020 Power Cost Adjustment
year, which were developed by ldaho Powerwith input from the CustomerAdvisory
Group ("CAG'). Please note that subsequent to the CAG meeting held on October
31,2018, the Company performed a review to verify the accuracy of the Baseline
Expected Cost Forecast presented at that meeting. As a result of the review, the
fuel cost forecast changed approximately $Z million, but did not impact the Tier 1
system risk limits in the Standard;. Update the description of the designated oversight officer for the Standards;. Make wording more consistent throughout the document; and. Remove blank pages between several of the appendices.
ldaho Power also modified the Policy solely to reflect the change to the description of the
designated oversight officer.
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Diane Hanian, Secretary
ldaho Public Utilities Commission
January 8,2019
Page 2
Please note that the Policy and Standards contain wholesale market strategy that is
commercially sensitive and if disclosed freely could subject ldaho Power or its customers to risk
of competitive disadvantage or other business injury. The undersigned attorney, in accordance
with RP 67, certifies that the Policy and Standards contain information that is a trade secret as
described in ldaho Code $ 74-101, ef seg., and $ 48-801, ef seg., and as such is exempt from
public inspection, examination, or copying.
lf you have any questions, please contact me at [phone].
Sincerely,
Lisa D. N
Q Z1r*t""-t
ordstrom
LDN:kkt
Enclosures
cc: Terri Carlock (w/encls.)
IDAHO POWER COMPANY
COUNSEL CERTIFICATE
l, Cheryl W. Thompson, in my capacity as Senior Counsel of ldaho Power Company, an
ldaho corporation ("ldaho Powe/'), do hereby certify on behalf of ldaho Power that at a regular
meeting of the Audit Committee of the Board of Directors of ldaho Power (the "Committee") held
on November 15, 2018, the Committee adopted the following resolution:
RESOLVED, that the Energy Risk Management Standards, including the
appendices thereto, and the Energy Risk Management Policy are hereby
approved in the form or substantially the form presented to the Committee at this
meeting.
lN WITNESS WHEREOF, the undersigned has executed this certificate on behalf of
ldaho Power Company, in her capacity as legal counsel to ldaho Power and not in her individual
capacity, as of January 7,2019.
IDAHO POWER COMPANY
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By:
CherylW pson
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