20220401Compliance Filing-Redacted.pdf

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DONOVAN E. WALKER (lSB No. 5921)
ldaho Power Company
122'l West ldaho Street (83702)
P.O. Box 70
Boise, ldaho 83707
Telephone: [phone]
Facsimile: [phone]
[e-mail]
IN THE MATTER OF IDAHO POWER
COMPANY'S COMPLIANCE FILING TO
UPDATE THE LOAD AND GAS
FORECASTS IN THE INCREMENTAL
COST INTEGRATED RESOURCE PLAN
AVOIDED COST MODEL.
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r-einhli: il:'I
Attorney for ldaho Power Company
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
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CASE NO. IPC-E-21-35
IDAHO POWER COMPANY'S
COMPLIANCE FILING RE
NATURAL GAS FORECAST
ldaho Power Company ("ldaho Powe/') hereby respectfully submits to the ldaho
Public Utilities Commission ("Commission") the accompanying natural gas forecast
submittal in compliance with Final Order No. 35344 in the above-captioned case.
I. INTRODUCTION AND BACKGROUND
On October 15, 2021,ldaho Power filed its annual update to its load forecast,
natural gas price forecast, and contracts used as inputs to calculate its incremental cost
lntegrated Resource Plan avoided cost rates. The Company subsequently filed two
supplemental updates to this initia!filing. On January 21,2022, the Commission issued
Order No. 35294 approving the Company's updated load forecast and contracts used as
IDAHO PO\A'ER COMPANY'S COMPLIANCE FILING RE NATURAL GAS FORECAST - 1
inputs but rejected the Company's natural gas forecast. On February 11,2022, the
Company asked for clarification/reconsideration regarding how the Commission intended
the Company to revise its natural gas forecast. On March 10,2022, in Order No. 3534,4,
the Commission directed ldaho Power Company to: (1) use NYMEX fonuards prices as
of October 15,2021, for yearc 2022,2023, and 2024 of the 2$-year forecast; (2) use an
average of year 2025 NYMEX forwards prices and year 2025 of the July 2021 vintage
Plafts forecast for year 2025 ol its forecast; (3) use the July 2021 vinlage Platts forecast
for the remaining years of the forecast (years 2026-2014)1; and (4) submit the update 20-
year forecast as a compliance filing.
II. THE FILING
ldaho Power provides herewith the updated natural gas forecast in accordance
with the Commission's direction from Order No. 35344 as CONFIDENTIAL Attachment
A.
III. REQUEST FOR RELIEF
ldaho Power respectfully requests that the Commission accept this revised natural
gas forecast in compliance with the Commission's directives in this proceeding and Order
No.35344.
Respectfully submitted this 1st day of April 2022.
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DONOVAN E. WALKER
Attorney for ldaho Power Company
1 ldaho Power used July 2021 Platts forecast for the remaining yearc of 2026-2040, as the Company
assumes the Order's direction of 2026-2014 is a typographical error.
IDAHO POWER COMPANY'S COMPL]ANCE F]LING RE NATURAL GAS FORECAST.2
CERTIFICATE OF SERVICE
I HEREBY CERTIFY that on the 1st day of April2022lserved a true and conect
copy of the within and foregoing ldaho Power Company's Compliance Filing re Natural
Gas Forecast upon the following named parties by the method indicated below, and
addressed to the following:
Riley Newton
ldaho Public Utilities Commission
P.O. Box 83720
Boise, lD 83720-0074
via emailto:
rilev. newton @ p u c. idaho. oov
Christy Davenport, Lega! Assistant
IDAHO POWER COMPANY'S COMPLIANCE FILING RE NATURAL GAS FORECAST - 3
BEFORE THE
IDAHO PUBLIC UTILITIES COMMISSION
GASE NO. IPG-E-21-35
IDAHO POWER COMPANY
REDACTED
ATTACHMENT A
Attachment A
Compliance Filing IPC-E-21-35
Natural Gas Forecast as of October L5,202L
Year s Forecast
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
203/i
2035
2036
2037
2038
2039
2040