20031021Avera Exhibit 7.pdf

BEFORE THEIDAHO PUBLIC UTiliTIES COMMISSIONCASE NO. IPC-O3-IDAHO POWER COMPANY
EXHIBIT NO.
W. AVERA
DCF Model - "b x r" Growth
DISCOUNTED CASH FLOW MODEL Exhibit WEA-Page 1 of 1PROJECTED "B x R" GROWTH (a)(a)(a)Proj.P ro j .Pro j.b" X "Company EPS DPS BVS GrowthBKHBlack Hills Corp.$2.$1.$26.50.550 10.Hawaiian Electric $3.$2.$33.17.330 1 .MDU MDU Resources Group $2.$1.$26.58.550 10.PNM PNM Resources Group $2.$1.$30.50.230PNWPinnacle West Capital $3.$2.$35.35.450PSDPuget Energy, Inc.$2.$1.$20.44.000SRESempra Energy $3.$1.$24.69.230 13.XEL Xcel Energy $1.$0.$14.40.740Average 70/0
(a)The Value Line Investment Survey (August 15 , 2003).
EXHBIIT NO.
CASE NO. I PC-03-
W. AVERA , IPCo
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