20200821Larkin Direct.pdf

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BEF'ORE THE IDAHO PUBLIC UTITITIES COMMISSION
IN THE MATTER OF IDAHO POI|ER
COMPATiIY' S APPTICATION FOR
AUTHORITY TO DECREASE ITS RATES
rOR ELECTR.IC SERVICE BOR COSTS
ASSOC]ATED WITH THE BOARDO,IA}I
POTIER PI,ANT.
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cAsE NO. rPC-E-20-32
IDAHO POWER COMPANY
DIRECT TESTIMONY
or
MATTHEIT T. LARKIN
1 Q. P1ease state your name, business address, and
2 present posj-tion with Idaho Power Company ("Idaho Power" or
3 "Company").
4 A. My name is Matthew T. Larkin. My business
5 address is L22L West Idaho Street, Boise, Idaho 83702. I
6 am employed by Idaho Power as the Revenue Requirement
7 Senior Manager in the Regulatory Affairs Department.
8 Q. Pl-ease describe your educational background.
9 A. I received a Bachelor of Business
10 Administration degree in Finance from the University of
l-1 Oregon in 2007. In 2008, I earned a Master of Business
12 Administration degree from the University of Oregon. I
13 have also attended electric utility ratemaking courses,
14 including the Electric Rates Advanced Course, offered by
15 the Edison Electric fnstitute, and Estimation of
16 Electricity Marginal Costs and @plication to Pricing,
L7 presented by National Economic Research Associates, Inc.
l-8 0. Please describe your work experience with
19 ldaho Power.
20 A. I began my employment with Idaho Power as a
2L Regulatory Analyst in January 2009. As a Regulatory
22 Analyst, I provided support for the Company's regulatory
23 actj-vities, including compliance reporting, financial
24 analysis, and the development of revenue forecasts for
25 regulatory filings.
LARKIN, DI 1
Idaho Power Company
1 In January 2014, I was promoted to Senior Regulatory
2 Analyst where my responsibilities expanded to include the
3 development of complex cost-related studies and the
4 anal-ysis of strategic regulatory issues.
5 Since becoming the Revenue Requirement Senior
6 Manager in March 2018, I have overseen the Company's
7 regulatory activities related to revenue requirement, such
I as power supply expense modeling, jurisdictional separation
9 studies, and Idaho Power's Open Access Transmission Tariff
10 formula rate.
11 I. O\IERVIETT
12 a. Vf,hat is Idaho Power's request in this case?
13 A. The Company is requesting authorization to
14 decrease customer rates to reflect cessation of the
1-5 Boardman power plant ("Boardman") operations and a prudence
16 determination of all investments made at the plant after
1,7 June 1-, 201.2. Specifically, Idaho Power is requesting the
18 Commj-ssj-on (1) find that all actual Boardman investments
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made through ,June 30, 2024,
(2) decrease customer rates
were prudently incurred, and
$3,902,622 to reflect fu]l
investments effective Januarydepreciation of
1-, 2021, which
percent.
al-l- Boardman
equates to an overall decrease of 0.33
o How is your testimony organized?
LARKIN, DI
ldaho Power
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Company
1 A. My testimony begins with a sunmary of the
2 Boardman bal-ancing account mechanism approved with Order
3 No. 3245'l and the Boardman incremental annual levelized
4 revenue requirement approved with Order No. 34519. My
5 testimony then summarizes the requested reduction of
6 $3,902,622 to customer rates effective January L, 2021, to
7 reflect the (1) removal of $5,L35,B72 in the levelized
8 Boardman revenue requirement, (2) expiration of the one-
9 time credit of $l-,019,333 approved in Case No. IPC-E-19-32,
10 and (3) adjustment of $213,918 to reflect removal of the
11 net Boardman-related benefit currently embedded in customer
L2 rates stemming from the U.S. Tax Cuts and Jobs Act of 2AL7
13 ("Tax Act"). Table 1 below presents a summary of the
3,4 Company's proposed $3.90 million decrease.
15 0 fs the Company present g any other witnesses
16 in this case?
t7 A.Yes. Company witness Ryan Adelman describes
18 in detail how the investments made at Boardman after ,June
were prudently incurred.19 l, 2012,
200 Do you have any exhibits?
LARKIN, DI
Idaho Power
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Company
Table 1 Boardman Rev Req Impact by Component
DillerenceLineNo. Component
Removal ofBoardman Levelized Rev Req
Removal of Additional Rev Req Adjustments
Tax ActAdiustment
$ (5,135,872)
$ 1,019,333
$ 213.918
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4 Total RatD Adlustment s(3,902.6221
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A. Yes. Exhibit No. 1 to my testimony provj-des a
summary of the updated levelized revenue requirement
calculations by cost category and compares the amount to
the levelized revenue requirement approved with Order No.
3451-9 that is currently included in customer rates. Exhibit
No. 2 provides the quantification of the true-up associated
with prior years' revenue col-lections.
IT. BACKGROI'IID
0. Please describe the Boardman power plant.
A. Boardman is a pulverized-coa1 plant located in
north-centraL Oregon. It went into service in 1980 and
consists of a single generating unit. Idaho Power owns a
10 percent interest r ox 58.5 megawatts (net dependable
capacity), in Boardman. After adjusting for routine
schedufed maintenance periods and estimated forced outages,
the Company's share of the plant's annual energy generating
capability is approximately 50 average megawatts. Portland
General- Electric (*PGE") has a 90 percent ownership. As
the majority partner of the plant, PGE operates the
Boardman facility. Cessation of coal-fired operations at
Boardman, which was approved by federal and state
regulators in 201.0 and 2011-, will occur October 31, 2020.
A. Do customer rates reflect Boardman's expected
cessation of coal-fired operations in 2020?
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LARKIN, DI
Idaho Power
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Company
l- A. Yes. On September 26t 2011, in Case No. IPC-
2 E-11-18, Idaho Power filed an application with the
3 Commission requesting an order (1) accepting the Company's
4 accounting and cost recovery plan for the early shutdown of
5 Boardman and (21 allowing the Company to establish a
6 balancing account to track shutdown-rel-ated costs and
7 benefits. In February 20L2, the Commissj-on issued Order
8 No. 32457 authoriziog the Company to establ-ish a balancing
9 account to track the incremental costs and benefits
10 assoclated with the early shutdown of Boardman.
l-1 O. Pl-ease describe the Boardman balancing account
L2 mechanism approved in Order No. 3245"1 .
13 A. The balancing account tracks the incremental
L4 costs associated with the accelerated Boardman end-of-l-ife
l-5 date, including (1) the return on undepreciated capital
16 investments at Boardman until its shutdown, (21 the
Ll accelerated depreciation associated with Boardman
18 investments, and (3) estimated decommissioning costs
19 related to the Boardman shutdown. Each of these revenue
20 requirement components is subsequently "levellzed" by
21 calculating the present value of each of the individual
22 items and converting the values into an annuity or level
23 payment stream from customers over the remaining life of
24 Boardman uslng a return on equity of 9.5 percent, as
25 approved in Order No. 32451.
LARKIN, DI
Idaho Power
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Company
1 Q. Has the Boardman balancing account worked as
2 expected to ensure recovery of Boardman-related investments
3 prior to cessatlon of operations at the plant?
4 A. Yes. The Boardman balancing account smoothed
5 the revenue requirement impacts of the early Boardman
6 retirement over the remaining years of the plant's life and
7 has provided an opportunity for full recovery of Boardman-
8 related costs by Boardman's life end. In addition, it
9 aligned the cost recovery period with the operating life of
10 the plant, resulting 1n a better matchlng of cost recovery
11 from customers who benefited from the plant's operations
12 while mitigating the risk of future customers bearing the
13 costs of a plant that will no longer be providing service.
L4 0. When were costs tracked in the Boardman
15 balancing account first reflected in customer rates?
16 A. On February L5, 2072, in Case No, IPC-E-12-09,
L7 Idaho Power requested authority to increase rates to begin
18 recovery of the l-evelized revenue requirement associated
19 with Boardman's 2020 end-of-Iife. The Company replaced the
20 then current non-Ievelized base rate revenue recovery
2L associated with Idaho Power's existing investment in
22 Boardman with a l-evelized revenue requirement that is
23 tracked in
2012, rhe
the Boardman balancing account. On May 17,
25 implementation of the
issued Order No. 32549, authorizi-ng
cost recovery approach approved in
LARKIN, DI 6
Idaho Power Company
24 Commission
l- Order No. 3245'l and increasing the Company's annua] revenue
2 requirement by $1,525,501, effective June L, 20L2t to
3 reflect the new levelized Boardman revenue requirement.
4 Q. Has Idaho Power adiusted customer rates for
5 changes in the Boardman annual levelized revenue
6 requirement since Order No. 32549 was issued?
7 A. Yes. On October 11 , 201-9, the Company filed a
8 request with the Commission to decrease customer rates
9 $1.06 million based on an updated level-ized revenue
l-0 requirement and additional- one-time revenue requirement
11 adjustments. The Commission approved Idaho Power's request
L2 effective January 1, 2020, with Order No. 34519. Prior to
13 the rate change, Idaho Power filed its Boardman Power Plant
L4 Annual Review each year, pursuant to Order Nos. 32451 and
15 32549, but did not request to adjust rates. The annual
1,6 reviews concluded the difference in the updated Boardman
tl levelized revenue requirement were tracked in the Boardman
1B balancing account for future collect.ion from or refund to
19 customers and did not warrant a rate change at the time.
20 0. Did the Tax Act impact the total Boardman
2L levelized revenue requirement?
22 A. Yes. Idaho Power's income tax expenses and
23 deferred tax liabilities included in the Boardman levelized
24 revenue requirement amounts were calculated in accordance
25 with the fnternal Revenue Code of 1986. The Tax Act,
LARKIN, DI 7
Idaho Power Company
1- signed into law on December 22, 201,7, amended sections of
2 the 1986 code, most notably the reduction in the federal
3 corporate income tax rate from 35 percent to 21 percent.
4 However, the net benefits related to the Boardman Levelized
5 revenue requirement resulting from provisions of the Tax
6 Act were calculated and determined with Order No. 34011 in
7 Case No. GNR-U-18-0L, the Commission's investigation into
8 the impact of federal tax code revisions on utility costs
9 and ratemaking, and were reflected in revenue requirement
10 amounts approved in that case. Therefore, the lower tax
1l- rates from the Tax Act are currently reflected in customer
t2 rates in the amount of $213,91,8, while the levelized
revenue requirement cal-culation reflects tax rates in
effect prior to the Tax Act. Consequently, the amounts
being removed from rates afso need to reflect the removal
of this Boardman-related net tax benefit.
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L1 ITI. THE BOARDI{A}I I.EVELIZED REITENT'E REQUIRED@NT MECHANISM
18 A. How was the levelized revenue requirement
approved with Order No. 34519 determined?
A. Order No, 34519 approved an incremental
Ievelized revenue requirement decrease of $38,922, for a
total Idaho jurisdictional Boardman-related levelized
revenue requirement of $5,135,812. The $5.14 million
levelized revenue requirement included (1) all Boardman-
related plant investments as of December 31, 20L8, (2)
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LARKIN, D]
Idaho Power
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Company
1 projected additions to the Boardman plant for 2019, and (3)
2 estimated decommissioning and sal-vage costs. In addition,
3 the Company refunded to customers $1.02 million associated
4 with three one-time revenue requirement adjustments.
5 Q. Has Idaho Power quantified the changes to the
6 Boardman levelj-zed revenue requirement since the Company's
7 update ef fective .fanuary 1, 2020?
8 A. Yes. Updat.ing the Boardman levelized revenue
9 requirement components results in an annual levelized
10 revenue requirement of $5, L31r 466 on an Idaho
L1 jurisdictional basis, or an annual decrease to the Idaho
L2 jurisdictional levelized revenue requirement of $4,406.
13 Exhibit No. l- summarizes the changes to the levelized
L4 revenue requirement on a system basis by component and
L5 presents the Idaho jurisdictional share of each.
76 O. Pl-ease descrlbe the updates to the Boardman
1,7 levelized revenue requirement components.
18 A. Only one of the three components of the
19 level-ized revenue requirement computation has changed si-nce
20 Order No. 34519 was issued, the revenue requirement
2L associated with incremental investments made after May 3L,
22 2012, or when the Boardman balancing account was
23 established.
LARKTN, Dr 9
Idaho Power Company
1 Q. What is the levelized revenue requirement
2 associated with incremental investments currentl-y included
3 in customer rates?
4 A. The fdaho jurisdlctional- Boardman-related
5 levelized revenue requirement of $5r135,872, approved with
6 Order No. 34519, included approximately $750,000 associated
7 with new plant investments made from .June 7, 2072, through
8 December 31-, 20L8, and a forecast of investments for 2079.
9 Q. What updates were made to the levelized
l-0 revenue requirement associated with incremental
l-1 investments?
L2 A. ldaho Power has updated the levelized revenue
13 requirement associated with incremental investments to
L4 include actuaf plant investments made through June 30,
15 2020, resulting in an Idaho jurisdictional levelized
1-6 revenue reguirement of $'1491045, or a decrease of
i-'l approximately $4, 400.
l-B O. Does the Company anticipate any additional
19 Boardman-related plant investments to be made in 2020?
20 A. No. Not at this time.
21,O. How
between January 1,
does the amount of actual investments made
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23 what was forecasted
2019, through ,June 30, 2020, compare to
and included in the computation of the
24 levelized revenue requirement approved with Order No.
25 34519?
LARK]N, DI
Idaho Power
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Company
1 A. The levelized revenue requirement approved
2 with Order No. 34519 included incremental plant investments
3 after January 1, 2079, of $481206. However, actual
4 investments made between January 1. 2079, through .Iune 30,
5 2A20, were only 9457, as there are credits associated with
6 2019 projects recorded Ln 2020 that nearly offset any
7 additions at the p1ant.
8 Q. You indicated only the l-evelized revenue
9 requirement associated with incremental investments has
10 changed since Order No. 34519 was issued. Because Boardman
11 is nearing its end-of-Iife, when does the Company expect an
12 updated decommissioning study to be performed?
13 A. At the request of PGE and Idaho Power, AECOM
1,4 prepared an updated decommissioning cost study, the Updated
l-5 Boardman CoaI Plant Decommissioning and Demolition Plan,
16 dated October 16, 20L9. However, the update only provided a
L7 refined cost esttmate to support the planning and
18 preparation for the partial demolition of Boardman and a
19 five-year Iay-up plan for the site. The results of the
20 AECOM study did not change the decommissioning cost
21 estimate enough to warrant an update in the decommissioning
22 costs the Company is currently collecting from customers.
23 In addition, now that PGE has determined they will
24 decommj-ssion the plant upon cessation of coal-fired
LARKIN, DI
Idaho Power
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Company
1- operations, a Class II Decommissioning and Demolition Study
2 has commenced.
3 Q. How does the Class II Decommissi-oning and
4 Demolition Study differ from the studies previously
5 performed?
6 A. The Class II study includes actua1 bidder
7 estimates for specific portions of the planned demolition,
8 resulting ln smal-Ier contingency adders. The previous
9 study, a Class III study, included only an estimate of the
10 costs as computed by AECOM, and a higher contingency amount
11 in light of the approximations.
12 O. When does Idaho Power expect to have the
13 resufts of the Class II Decommissioning and Demolition
74 Study?
15 A. The Company received the Class II
16 Decommissioning and Demolition Study in August 2020, and is
71 currently evaluating the decommissioning costs and salvage
18 estimates included in the study. Whil-e initial results
19 indicate expected decommissioning costs are higher than
20 l-evels currently reflected in rates, the Company is still
2L revj-ewing the study results.
22 O. Does fdaho Power anticipate making changes to
23 the levelized revenue requirement associated with
24 decommissioning and salvage costs col-Iected from customers
25 once the Class II study is finalized?
LARKIN, DI
Idaho Power
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Company
1 A. No, not at this time. As of December 31,
2 2020, the Company will have collected from customers
3 decommlssioning and salvage costs nearly equivalent to
4 those estimated with the AECOM Class III study, and the
5 levelized revenue requirement associated with
5 decommissioning and salvage costs included in customer
7 rates will be set to zero. As decommissioning costs are
8 incurred, amounts accrued in the balancing account will be
9 used to pay the expenses. Because the Boardman balancing
10 account allows for the tracking of dlfferences between
11 actual decommissioning costs and those forecasted, any
1,2 over- or under-collection of costs wil-I be avail-able for
13 future collection from, or refund to, customers.
1,4 0.
requirement?
A.
What is the resulting total levelized revenue
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16 The Company's update to the levelized revenue
associated with Boardman includes the17reguirement
$3,936,546
rel-ated to
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19 incremental investments, and $445, 875
2A decommissioning and salvage costs, for a total l-evelized
revenue requirement of $5,I3L,466 on an Idaho
jurisdictional- basis.
0. What is the existing l-evelized revenue
requirement associated with Boardman that is currently
included in the Company's base rates?
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$749,045
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LARKIN, DT
Idaho Power
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A. The Idaho jurisdictional levelized revenue
requirement approved with Order No. 3451-9 is $5,135,872.
0. How does the total level-ized revenue
requirement compare to the existing l-evelized revenue
requirement currently in customer rates?
A. The current total- Idaho jurisdictional
levelized revenue requirement of $5.13 million, less the
Idaho jurisdictj-onal share of the existing levelized
revenue requirement of $5.14 million, results in an
incremental annual leve11zed revenue requirement of
negative $4t405 on an fdaho jurisdictional- basis.
O. Are there any additional components of the
Boardman levelized revenue requj-rement mechanism?
A. Yes. fn accordance with the Company's
commitment in Case No. IPC-E-12-09, fdaho Power is
tracking: (1) deviations between existing levelized revenue
requirement calculations and updated levelized revenue
requirement cafculations and, (21 the monthly deviations
between forecast revenue collection and actual revenue
col- l-ect ion.
0. What is the true-up associated with the
levelized revenue requirement amounts previously coll-ected?
A. An updated levelized revenue requirement
$4,406 lower than what the Company is currently collecting
from customers means customers will have paid $4,406 per
LARKIN, DI
Idaho Power
1,4
Company
1 year more than the updated Ievelized revenue requirement
2 indicates the Company shoul-d have collected. The true-up
3 is computed by converting the annual incremental- Ievel-ized
4 revenue requirement to a monthly amount, or an over
5 collection of $367 per month, and multiplying it by the
6 103-month col-l-ection period from June 1, 201,2, through
7 December 31, 2020. The result is a true-up of $37,824.
I This amount is reflected on the True-Up of Levelized
9 Revenue Requirement line of Exhibit No. 1. It is important
10 to note that these amounts are provided for informational
11 purposes only and are not part. of the Company's requested
12 rate change in the current proceeding as discussed later in
l-3 my testimony.
L4 O. What is Idaho Power's quantification of the
15 true-up associated with prior years' revenue collections?
l-6 A. Order No. 34519 issued in Case No. IPC-E-19-32
L1 included the true-up of monthly deviations between forecast
l-8 revenue col-Iection and actuaL revenue coll-ection for the
1,9 time period June L, 20L2, through August 31, 2019.
20 Therefore, the true-up of prior years' revenue collections
21, in this proceeding is associated with amounts collected
22 from September 1, 2019, through "Iune 30, 2020. As can be
23 seen on Exhibit No. 2, at June 30, 2020, slightly lower
24 than expected sales volumes in the first half of 2020
25 outweighed slightly higher than expected sales vofumes
LARKTN, Dr 15
Idaho Power Company
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duri.ng the last quarter of 20L9, fox a total under
collection of $5,625. This total over collection j-s
refl-ected on the True-Up of Prior Year ColLections line of
Exhibit No. 1. Similar to the True-Up of Levelized Revenue
Requirement, this amount is included for informational
purposes only and is not part of the Company's requested
rat.e change in this proceeding.
IV. RECODIGTiIDT.D BJf,TE!'AKING TREAIlIIBTT
0. You indicated fdaho Power is proposing to
decrease customer rates to reflect cessation of Boardman
operations. What is the Company's proposal?
A. The Company is proposj-ng to remove the
$5r 135,872 in Boardman levelized revenue requirement
amounts from customer rates effective January 1, 2021-, to
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1-5 refl-ect ful-l depreciation of all Boardman investments.
16 O. You have quantified the updated Boardman
l7 levelized revenue requirement is $5, L31,466 based on the
18 latest actua] plant additions. Why is the Company
L9 proposing to remove a different level- of Boardman revenue
20 requirement amounts from customer rates?
2L A. Idaho Power is proposing to remove $51135,872,
22 the level of Boardman revenue requirement amounts currently
23 included in customer rates. The difference in the updated
24 levelized revenue requirement amount and the Ievelized
25 revenue requirement amount currently in rates is captured
LARK]N, DI
Idaho Power
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Company
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in the true-up of the levelj-zed revenue requirement
amounts.
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true-ups
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Is Idaho Power proposing to include the two
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as an adjustment to customer rates on January l,
No. Because the true-up would be a one-time
refund to customers over a one-year period and the sum of
the two true-ups is negative $32,L94, the Company is
proposing the true-ups remain in the balancing account
until the next adjustment to rates when decommissioning
costs are trued up. Further, at the time of filing there
are still- several months remaining in 2020 that will also
be incl-uded in the true-up calculation.
O. The Company is proposing to remove all
Boardman levelized revenue requirements from rates. What
future Boardman-related adjustments does Idaho Power
anticipate it wiII make?
A. The Company has quantified the Boardman annual
levelized revenue requirement to reflect the most current
balancing account amounts. However, because the plant is
still online, and recovery of Boardman-reLated investments
will continue through year-end, it is likely a final annual
levelized revenue requirement computation wil-I be required
to ensure customers pay no more or no less than actual
Boardman-related costs. In addition, the Boardman
LARKIN, DT
Idaho Power
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I levelized revenue requirement amounts approved with Order
2 No. 34519 include an estimate for anticipated
3 decommissioning and salvage costs. ff an adjustmenL to
4 customer rates reflecting updated cost information does not
5 occur prior to complete decommissioning, an adjustment wiII
6 be requj-red to true-up actual decommissioning and salvage
7 costs with those amounts collected from customers when
8 decommissioning of Boardman is complete.
9 Q. fs Idaho Power proposing any additional
10 Boardman-rel-ated adjustments to customer rates?
11 A. Yes. Order No. 3451-9 approved three
L2 additional revenue requirement adjustments that resulted in
13 a rate reduction: (1) a gain of $251,077 associated with
14 the sale of shared facilities to PGE, (21 $473,097 in over-
15 collection of revenues from the .lune L, 2012, through
16 September 30, 20L9, tlme period, and (3) $295,1-58 i-n over-
L7 collection of revenue requirement amounts during the June
18 !, 201,2, through December 31, 20L9, time period. Because
19 these amounts were a one-time refund to customers provided
20 over the January l, 2020, through December 31, 2020, time
2L period, the Company is proposing to remove the $1r0191333
22 credit from customer rates.
23 O. You indicated tax rates included in the
24 levelized revenue requirement computation reflect those tax
25 rates in effect prior to the Tax Act, and that Tax Act
LARKIN, DI
ldaho Power
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benefits associated with the Boardman levelized revenue
requirement mechanism were calcul-ated and determined in
Case No. GNR-U-18-01 with Order No. 3A07L. WiIl the
removal from rates of the Boardman level-ized revenue
requirement require an adjustment for the Tax Act benefits?
A. Yes. The Boardman leveli-zed revenue
requirement amounts currently included in customer rates
includes income tax expense based on provisions of the
Internal Revenue Code of 1986 prior to the 2077 Tax Act,
meaning the $5.14 million is greater than the decreased
revenue requirement Idaho Power will experience.
Therefore, fdaho Power has included an adjustment of
$213,918 to reflect the Tax Act benefits that will no
Ionger exist upon cessation of Boardman operations. This
amount is presented on the Tax Act Adjustment line of
Exhibit No. L.
0. Please summarize the adjustments to customer
rates Idaho Power is proposing.
A. The removal of $5,135,872 1n the Ievelized
Boardman revenue requirement, less the expiration of the
one-time credit of $1,019,333, less the adjustment of
$213,918 to reflect in the l-evel-ized Boardman revenue
requirement income tax expense amounts resulting from the
Tax Act, results 1n a total decrease to customer rates of
$3,902,622 effective January 1, 2021.
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LARKIN, DI
Idaho Power
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O. How does the Company propose to allocate the
decrease associated with Boardman levellzed revenue
requirement of $3,902,622 Lo each class of customers?
A. The Company requests that the approximately
$3.90 million decrease associated with Boardman revenue
requirement amounts be applied to al-1 customer classes
through a unj-form percentage decrease to all base rate
components except the service charge.
0. Has the Company prepared a schedule that
presents the revenue spread results for each customer class
under the Company's proposed allocation methodology?
A. Yes. Attachment No. L to the Applj-cation
presents a surunary of the proposed revenue impact for each
customer c1ass.
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2L depreciation of aII Boardman investments effective January
22 7, 2021, which equates
percent.
O. Does this
to an overall- decrease of 0.33
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24 complete your testimony?
O. Please summarize your testimony.
A. Idaho Power is requesting the Commission
find that all actual Boardman investments made through
30, 2020, were prudently j-ncurred, and (2) decrease
customer rates $3,902,622 milLion to reflect full-
LARKTN, Dr
Idaho Power
(1)
June
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25 A Yes, it does.
1 DECI.ARJiltrION OF !'ATTEEW T. IARKIN
2 I, Matthew T. Larkin, declare under penalty of
3 perjury under the laws of the state of Idaho:
4 L. My name is Matthew T. Larkin. f am employed
5 by ldaho Power Company as the Revenue Requi-rement Senior
6 Manager in the Regulatory Affairs Department.
7 2. On behalf of Idaho Power, I present this
8 pre-filed direct testimony and Exhibit Nos. L-2 in this
9 matter.
L0 3. To the best of my knowledge, my pre-filed
11 direct testimony and exhibits are true and accurate.
L2 I hereby declare that the above statement is true to
13 the best of my knowledge and belief, and that f understand
1"4 it i-s made for use as evidence before the Idaho Public
15 Utilities Commission and 1s subject to penalty for perjury.
L6 SIGNED this 2l-st day of August 2020, at Boise, Idaho.
L7
18 Signed:
LARKIN, DI
Idaho Power
27
Company
BEFORE THE
IDAHO PUBLIC UTILITIES GOMMISSION
GASE NO. IPC-E-20-32
IDAHO POWER COMPANY
LARKIN, DI
TESTIMONY
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