19990810Notice of Modified Procedure.doc

BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION

IN THE MATTER OF THE TRANSFER OF THE OWNERSHIP INTEREST OF APPLIED POWER CORPORATION AND IDACORP FINANCIAL SERVICES, INC. FROM IDAHO POWER COMPANY TO IDACORP, INC. )
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CASE NO. IPC-E-99-6

NOTICE OF APPLICATION

NOTICE OF
MODIFIED PROCEDURE

YOU ARE HEREBY NOTIFIED that on July 22, 1999, the Idaho Power Company (Idaho Power; Company) filed an Application for the transfer of its ownership interest in Applied Power Corporation (APC) and Idacorp Financial Services, Inc. to Idacorp, Inc.
According to the Company’s Application, APC, a Washington corporation, designs, supplies and distributes photovoltaic systems and also provides solar electric products and systems for industries, contractors, utilities, government and dealers and distributors of solar products.
APC does not provide any services to Idaho Power, the Company states, nor does it own or lease from Idaho Power any utility operating property. APC does not rent office space from Idaho Power.
The Company acknowledges that it does provide administrative and recordkeeping functions to APC for the employees’ savings plan and related programs; advice and assistance in the preparation of and responses to income tax audits, and; legal advice and assistance concerning the review and preparation of certain contracts and agreements.
The Application states that Idacorp’s Financial Services, Inc. (IFS), which has its corporate headquarters in Boise, is engaged in investing in affordable housing programs which provide returns by reducing federal income taxes through the creation of tax credits and tax depreciation benefits through the low-income housing investment tax credit enacted by Congress with the Tax Reform Act of 1986. At the end of 1998, Idaho Power states, IFS was participating in 12 such housing projects.
Idaho Power contends that IFS does not provide any services to the Company nor does it own or lease from Idaho Power any utility operating property. IFS does not rent any office space from Idaho Power.
Idaho Power acknowledges that it provides information systems technical support to IFS; payroll support, administrative and recordkeeping functions for participation in the pension plan, the employees’ savings plan, and the medical/dental benefit plans; advice and assistance in the preparation of and responses to income tax audits; legal advice and assistance concerning the review and preparation of certain contracts and agreements.
According to the Application, Idacorp, Inc. is a holding Company that is the parent of Idaho Power as authorized by Commission Order No. 27348 issued in Case No. IPC-E-97-11. Idaho Power proposes that the transfer of ownership interest in APC and IFS from Idaho Power to Idacorp, Inc. will be accomplished through the transfer of the stock in those two entities from Idaho Power to Idacorp, Inc. The transfer, the Company states, will be a non-taxable event and there will be no transfer of any utility operating properties because APC and IFS do not own or control such properties.
Idaho Power requests that the Commission approve the foregoing transfer of ownership interest in APC and IFS effective October 1, 1999, and that the Commission conduct this case under Modified Procedure pursuant to Rule 201 of the Commission’s Rules of Procedure, IDAPA 31.01.01.201.
YOU ARE FURTHER NOTIFIED that the Application together with supporting workpapers, testimonies and exhibits, have been filed with the Commission and are available for public inspection during regular business hours at the Commission offices.
YOU ARE FURTHER NOTIFIED that all proceedings in this case will be held pursuant to the Commission’s jurisdiction under Title 61 of the Idaho Code and that the Commission may enter any final Order consistent with its authority under Title 61.
YOU ARE FURTHER NOTIFIED that all proceedings in this matter will be conducted pursuant to the Commission’s Rules of Procedure, IDAPA 31.01.01.000 et seq.
YOU ARE FURTHER NOTIFIED that the Commission has determined that the public interest may not require a formal hearing in this matter and will proceed under Modified Procedure pursuant to Rules 201 through 204 of the Idaho Public Utilities Commission’s Rules of Procedure, IDAPA 31.01.01.201 through -.204.
YOU ARE FURTHER NOTIFIED that any person desiring to state a position on this Application may file a written comment in support or opposition with the Commission within twenty-one (21) days from the date of this Notice. The comment must contain a statement of reasons supporting the comment. Persons desiring a hearing must specifically request a hearing in their written comments. Written comments concerning this application shall be mailed to the Commission and the Applicant at the addresses reflected below:
COMMISSION SECRETARY
IDAHO PUBLIC UTILITIES COMMISSION
PO BOX 83720
BOISE, IDAHO 83720-0074
Street Address for Express Mail:
472 W WASHINGTON ST
BOISE, ID 83702-5983 LARRY D. RIPLEY
PATRICK A. HARRINGTON
IDAHO POWER COMPANY
PO BOX 70
BOISE, ID 83707
All comments should contain the case caption and case number shown on the first page of this document.
YOU ARE FURTHER NOTIFIED that if no written comments are received within the time limit set, the Commission will consider this matter on its merits and enter its Order without a formal hearing. If written comments are received within the time limit set, the Commission will consider them and, in its discretion, may set the same for formal hearing.
DATED at Boise, Idaho this day of August 1999.

Myrna J. Walters
Commission Secretary

vld/N:IPC-E-99-6_bp

NOTICE OF APPLICATION
NOTICE OF MODIFIED PROCEDURE 1

Office of the Secretary
Service Date
August 10, 1999