The URL can be used to link to this page

Home My WebLink About20130418Compliance Filing.pdfIDAHO An IDACORP Company V F 0 SCOTT WRIGHT 20 P4 8' q : 50 Regulatory Analyst AJ4C PS UT1LITiS ms.a.8nra — April 17, 2013 Ms. Jean D. Jewell Commission Secretary Idaho Public Utilities Commission P0 Box 83720 Boise, ID 83720-0074 RE: Annual Compliance Filing of Asset Retirement Obligations ("ARC") (ASC 410) Case No. IPC-E-03-1 I Dear Ms. Jewell: In Order No. 29414, the Commission directed Idaho Power Company ("Company") to record regulatory assets or liabilities associated with implementation of Statement of Financial Accounting Standards 143 (now codified as Accounting Standards Codification ("ASC") 410). As a result of the Order, the Company is required to file annually, and as part of any rate case filing, all journal entries made under the requirements of ASC 410. Three copies of the journal entries are enclosed. On February 15, 2012, the Company filed an application requesting authorization to increase its rates for the early closure of the Boardman power plant. On May 17, 2912, Order No. 32549 was issued authorizing the Company to begin recovery of the Boardman balancing account which tracks the incremental costs and benefits associated with the early shutdown of Boardman, including Boardman-related ARC balances. In addition, Order No. 32549 exempted Boardman-related ARC balances from the deferral treatment required under Order No. 29414. If you have any questions regarding this filing, please contact me at (208) 388-5493 or swriqhtidahopower.com . SiIy Scott Wright SW:kkt Enclosures cc: Terri Carlock Greg Said Tim Tatum Idaho Power Company Accounting Standards Codification 410 (previously FAS 143) Accounting Year Ended December 31, 2012 Recorded journal entries FERC Account Dr. Cr. December 31, 2011 balances ARO Assets 101 8,648,864 Accumulated depreciation - ARO assets 108 2,839,519 Accumulated depreciation - removal costs 108 163,172,813 Regulatory assets 182.3 15,557,422 ARO Liabilities 230 21,366,767 Regulatory liabilities 254 163,172,813 Accretion expense (Boardman only), cumulative 411 Depreciation expense (Boardman only), cumulative 403 Calendar year 2012 Accretion, Depreciation, Regulatory Asset Amortization, and Removal Cost Entries Regulatory asset (accretion expense) 182.3 859,868 Accretion expense (Boardman only) 411 130,133 ARO liabilities 230 990,000 To record accretion expense on the asset retirement obligations 2 Regulatory asset (depreciation expense) Depreciation expense (Boardman only) Accumulated depreciation - ARO assets To record depreciation on the ARO assets 182.3 403 108 359,763 265,891 625,654 3 Accretion expense (Boardman only) 411 53,011 Depreciation expense (Boardman only) 403 51,184 Regulatory asset (Boardman amortization) 182.3 104,195 To record amortization of the Boardman regulatory asset 4 Accumulated depreciation - removal costs 108 5,478,446 Regulatory liabilities 254 5,478,446 To record adjustments to the ARO regulatory liability for the difference between regulatory-approved removal costs and the ASC 410 accruals. Please note, this is made in the ELIM business unit now and not the /PC business unit because it is required for GAAP but not for FERC Calendar year 2012 changes in estimates 5 ARO Assets Accumulated depreciation - ARO assets Regulatory asset ARO Liabilities To record revision of estimated AROs at Valmy, Bridger, Boardman, and /PC. Célendar year 2012 retirements 6 Regulatory asset ARO Liabilities 101 2,208,288 108 65,191 182.3 863,501 230 1,409,978 182.3 784.695 230 784,695 To record the retirement of a pond at Bridger. December 31, 2012 balances ARO Assets 101 10,857,152 - Accumulated depreciation - ARO assets 108 - 3,399.983 Accumulated depreciation - removal costs 108 168,651,260 - Regulatory assets 182.3 15,024,662 - ARO Liabilities 230 - 22,982,049 Regulatory liabilities 254 - 168,651,260 Exhibit 1 Idaho Power Company Accounting Standards Codification 410 (previously FAS 143) Accounting Year Ended December 31, 2012 Recorded journal entries FERC Account Dr. Cr. December 31, 2011 balances ARO Assets Accumulated depreciation - ARO assets Accumulated depreciation - removal costs Regulatory assets ARO Liabilities Regulatory liabilities Accretion expense (Boardman only), cumulative Depreciation expense (Boardman Only), cumulative 101 8648,864 108 2,839,519 108 163,172,813 182.3 15,557,422 230 21,366,767 254 163,172,813 411 403 Calendar year 2012 Accretion, Depreciation, Regulatory Asset Amortization, and Removal Cost Entries I Regulatory asset (accretion expense) 182.3 859,868 Accretion expense (Boardman only) 411 130,133 ARO liabilities 230 990,000 To record accretion expense on the asset retirement obligations 2 Regulatory asset (depreciation expense) 182.3 359,763 Depreciation expense (Boardman only) 403 265,891 Accumulated depreciation - ARO assets 108 625,654 To record depreciation on the ARO assets 3 Accretion expense (Boardman only) 411 53,011 Depreciation expense (Boardman only) 403 51,184 Regulatory asset (Boardman amortization) 182.3 104.195 To record amortization of the Boardman regulatory asset 4 Accumulated depreciation - removal costs 108 5.478.446 Regulatory liabilities 254 5,478,446 To record adjustments to the ARO regulatory liability for the difference between regulatory-approved removal costs and the ASC 410 accruals. Please note, this is made in the ELIM business unit now and not the IPC business unit because it is required & GAAP but not for FERC Calendar year 2012 changes in estimates 5 ARO Assets 101 2,208,288 Accumulated depreciation - ARO assets 108 65,191 Regulatory asset 182.3 863,501 ARO Liabilities 230 1,409,978 To record revision of estimated AROs at Valmy, Bridger, Boardman, and IPC. Calendar year 2012 retirements 6 Regulatory asset 182.3 784,695 ARO Liabilities 230 784,695 To record the retirement of a pond at Bridger. December 31, 2012 balances ARO Assets 101 10.857,152 - Accumulated depreciation - ARO assets 108 - 3,399,983 Accumulated depreciation - removal costs 108 166.651,260 - Regulatory assets 182.3 15,024,662 - ARO Liabilities 230 - 22,982,049 Regulatory liabilities 254 - 168,651,260 Exhibit 1 Idaho Power Company Accounting Standards Codification 410 (previously FAS 143) Accounting Year Ended December 31, 2012 Recorded journal entries FERC Account Dr. Cr. December 31, 2011 balances ARO Assets Accumulated depreciation - ARO assets Accumulated depreciation - removal costs Regulatory assets ARO Liabilities Regulatory liabilities Accretion expense (Boardman only), cumulative Depreciation expense (Boardman only), cumulative 101 8,648,864 108 2,839,519 108 163,172,813 182.3 15,557,422 230 21,366,767 254 163,172,813 411 403 Calendar year 2012 Accretion, Depreciation, Regulatory Asset Amortization, and Removal Cost Entries I Regulatory asset (accretion expense) 182.3 859.868 Accretion expense (Boardman only) 411 130.133 ARO liabilities 230 990,000 To record accretion expense on the asset retirement obligations 2 Regulatory asset (depreciation expense) Depreciation expense (Boardman only) Accumulated depreciation - ARO assets To record depreciation on the ARO assets 182.3 403 108 359,763 265,891 625,654 3 Accretion expense (Boardman only) 411 53.011 Depreciation expense (Boardman only) 403 51,184 Regulatory asset (Boardman amortization) 182.3 104,195 To record amortization of the Boardman regulatory asset 4 Accumulated depreciation - removal costs 108 5,478,446 Regulatory liabilities 254 5,478.446 To record adjustments to the ARO regulatory liability for the difference between regulatory-approved removal costs and the ASC 410 accruals. Please note, this is made in the ELIM business unit now and not the /PC business unit because it is required for GAAP but not for FERC Calendar year 2012 changes in estimates 5 ARO Assets 101 2,208,288 Accumulated depreciation - ARO assets 108 65,191 Regulatory asset 182.3 863,501 ARO Liabilities 230 1.409,978 To record revision of estimated ARO5 at Valmy, Bndger, Boardman, and /PC. Calendar year 2012 retirements 6 Regulatory asset 182.3 784,695 ARO Liabilities 230 784,695 To record the retirement of a pond at Bridger. December 31, 2012 balances ARO Assets 101 10,857,152 - Accumulated depreciation - ARC assets 108 - 3.399,983 Accumulated depreciation - removal costs 108 168.651,260 - Regulatory assets 182.3 15,024,662 - ARC Liabilities 230 - 22,982,049 Regulatory liabilities 254 - 168,651,260 Exhibit 1