20200402Notice of Affiliate Transaction.pdf

March 31, 2020 Idaho Public Utilities Commission 11331 W. Chinden Blvd.
Building 8 Suite 201A Boise, ID 83714 Attention: Diane Hanian Commission Secretary
Re: PacifiCorp Notice of Affiliate Transaction Case No. PAC-E-05-8 Dear Ms. Hanian:
This letter will serve as notice pursuant to Commitment I 17(2), incorporated in the Idaho Public Utilities Commission Order No. 29973 issued February 13, 2006, as supplemented by Order No. 29998 March 14, 2006, in the above-referenced proceeding, approving the acquisition of
PacifiCorp by MidAmerican Energy Holdings Company (now “Berkshire Hathaway Energy
Company” or “BHE”), of an indirect affiliate interest transaction with US Bank, N.A. (“US Bank”). PacifiCorp intends to engage US Bank as trustee and underwriter for an upcoming First Mortgage Bond issuance tentatively scheduled for April 2020. PacifiCorp solicited underwriting proposals from a number of sources. Several banks responded, including US Bank. The Company
selected US Bank as one of the active underwriters for this bond offering. The selection of US
Bank was not influenced by Berkshire Hathaway’s ownership interest. PacifiCorp is a wholly-owned, indirect subsidiary of Berkshire Hathaway Energy Company (BHE). BHE is a subsidiary of Berkshire Hathaway, Inc (Berkshire Hathaway). Warren E. Buffet
(an individual who may be deemed to control Berkshire Hathaway), Berkshire Hathaway, various
subsidiaries of Berkshire Hathaway and various employee benefit plans of Berkshire Hathaway subsidiaries together held an interest in excess of five percent in US Bank. Therefore, Berkshire Hathaway’s ownership interest in US Bank may create an affiliated interest in some PacifiCorp jurisdictions.

As a public utility, the Company is expected to acquire, construct, improve, and maintain sufficient utility facilities to serve its customers adequately and reliably at reasonable cost. Issuance of Bonds are part of a program to finance the Company’s facilities taking into consideration prudent capital ratios, earning coverage tests and market uncertainties as to the relative merits of the various
types of securities the Company could sell. Accordingly, the transaction to which US Bank will be
a party, is consistent with the public interest.
Richard J. Garlish Vice President and General Counsel 1407 W. North Temple, Suite 320 Salt Lake City, UT 84116 801-220-2533 Office [e-mail]
RECEIVED
2020 April 2,PM3:33
IDAHO PUBLIC
UTILITIES COMMISSION
Diane Hanian Notice of Affiliate Transaction March 31, 2020

Please do not hesitate to contact me if you have any questions.
Best Regards,

Richard J. Garlish
Vice President and General Counsel PacifiCorp