20221212Notice of Affiliate Transaction - US Bank.pdf

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Rocky Mountain Porrer Senior Attorney
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December 12,2022
VU ELECTRONIC FILING
Idaho Public Utilities Commission
I l33l West Chinden Boulevard
Building 8 Suite 20lA
Boise, Idaho 837 14-1021
Attention:Jan Noriyuki
Commission Secretary
Re: PacifiCorp Notice of Alfiliate Transaction-PacifiCorp and U.S. Bank National
Association
Case No. PAC-E-05-8
Dear Ms. Noriyuki:
Pursuant to Commitmentl 17(2), incorporated in the Idaho Public Utilities Commission
OrderNo. 29973, issued February 13,2006, as supplemented by OrderNo. 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), PacifiCorp
hereby provides notice of an affiliated interest transaction with U.S. Bank National Association
(usB).
PacifiCorp and USB entered into an affiliate agreement through a joinder to a master
professional services contract for corporate payment card services between Berkshire Hathaway
Inc., PacifiCorp's ultimate parent, and USB (collectively the Agreement). A true copy of the
Agreement is included with this notice as Confidential Attachment A.
PacifiCorp is a wholly-owned indirect subsidiary of Berkshire Hathaway Energy
Company. In turn, Berkshire Hathaway Energy Company is a direct subsidiary of Berkshire
Hathaway Inc. (Berkshire). U.S. Bank National Association, is the wholly-owned banking
subsidiary of U.S. Bancorp in which Berkshire currently has an approximate 6.42%o voting
ownership interest. Therefore, Berkshire's ownership of both Berkshire Hathaway Energy
Company and U.S. Bancorp creates an affiliated interest relationship between their respective
subsidiaries PacifiCorp and USB.
Idaho Public Utilities Commission
December 12,2022
Page2
U.S. BankNational Association is engaged in the business ofgeneral banking. Commercial
and consumer lending services are principally offered to customers within the company's domestic
markets, to domestic customers with foreign operations, and to large national customers operating
in specific industries. Its services include traditional credit products, credit cards and similar
products. Berkshire issued a competitive bid solicitation for payment card services with USB
emerging as the best bidder. As a joinder participant, PacifiCorp will benefit from lower costs and
higher rebates compared to its existing contract(s) for the same services. This fiscal prudence will
permit PacifiCorp to continue to reliably serve its customers and, thus this tansaction with USB
is in the public's interest
The pricing included with the attached master professional services conffact for corporate
payment card services are confidential. This cost information, which, if disclosed to the public,
could erode the company's ability to bargain with vendors in the future.
Please do not hesitate to contact me if you have any questions
Sincerely,
/"*,h
Timothy K. Clark
Senior Attorney
PacifiCorp
Enclosure:
Confidential Attachment A.pdf
CONFIDENTIAL IN ITS ENTIRETY AND IS PROVIDED UNDER SEPARATE COVER
CONFIDENTIAL ATTACHMENT A
PacifiCorp Notice of Affiliate Transaction
to