20231024Notice of Affiliate Transaction.pdf

VIA ELECTRONIC FILING

October 24, 2023

Idaho Public Utilities Commission
11331 West Chinden Boulevard
Building 8 Suite 201A
Boise, Idaho 83714-1021

Attention: Jan Noriyuki
Commission Secretary

Re: PacifiCorp Notice of Affiliate Transaction — PacifiCorp and Ringwalt &
Liesche Co.
Case No. PAC-E-05-8

Dear Ms. Noriyuki:

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),
PacifiCorp hereby provides notice of an affiliated interest transaction with Ringwalt &
Liesche Co. (Ringwalt).

PacifiCorp entered into an agreement with Ringwalt for a Master Professional Services
Contract (Contract) through which Ringwalt will provide agency services for surety bonds
available to PacifiCorp, directly and through its parent, National Indemnity Company (National).
A true copy of the Contract is included with this notice as Confidential Attachment A.
Confidential Attachment B is a copy of the Affiliate Participation Letter that confirms
PacifiCorp's intention to participate in and utilize the Contract.

PacifiCorp is a wholly-owned indirect subsidiary of Berkshire Hathaway Energy
Company. In turn, BHE is a subsidiary of Berkshire Hathaway Inc., which also has an ownership
interest in Ringwalt creating an affiliated interest relationship between PacifiCorp and Ringwalt.

Ringwalt is an insurance managing general agency and wholesale broker. It provides
specialty insurance for non-standard transportation and small to medium-sized commercial lines
Timothy K. Clark
Assistant General Counsel
1407 W. North Temple, Suite 320
Salt Lake City, UT 84116
801-220-4565 Office
[e-mail]

RECEIVED
2023 October 24, PM 4:24
IDAHO PUBLIC
UTILITIES COMMISSION

2

business and acts as an exclusive servicing agency for surety bond placements between
companies and its parent, National.

BHE entered into an agreement with Ringwalt, to supply surety bond services for the
benefit of each of its business units. This included services to support PacifiCorp in acquiring
new surety bonds.

The terms of this transaction is commercially sensitive and if revealed, could erode
PacifiCorp’s bargaining position, and the ability of the company to engage in future transactions
like this that benefit customers. Such erosion of bargaining power could lead to increased costs.

Entering into the Contract with Ringwalt is in the public interest because the terms will
yield significant savings on commission fees, allowing PacifiCorp to serve its customers
efficiently.

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

Sincerely,
Timothy K. Clark
Assistant General Counsel
PacifiCorp

Enclosures:
Confidential Attachment A.pdf
Confidential Attachment B.pdf

CONFIDENTIAL ATTACHMENT A

to

PacifiCorp Notice of Affiliate Transaction

THIS ATTACHMENT IS CONFIDENTIAL IN ITS
ENTIRETY AND IS PROVIDED UNDER SEPARATE
COVER

CONFIDENTIAL ATTACHMENT B

to

PacifiCorp Notice of Affiliate Transaction

THIS ATTACHMENT IS CONFIDENTIAL IN ITS
ENTIRETY AND IS PROVIDED UNDER SEPARATE
COVER