20180117Steward Exhibit 45.pdf

Case No.PAC-E-17-07
Exhibit No.45
Witness:Joelle R.Steward
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
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ROCKY MOUNTAIN POWER
Exhibit Accompanying Supplemental Direct Testimony of Joelle R.Steward
January 2018
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Rocky Mountain Power
Exhibit No.45 Page 1 of 1
Case No.PAC-E-17-07
PacifiCorp Witness:Joelle R.Steward
O Idaho
Combined Projects -CapitalStructure,income Tax Rate,Property Tax Rate
Allocation Factors and Net Power Cost Description
Capital Structure and Cost from Docket Number PAC-E-15-09
Updated with new consolidated tax rate consistent with the new tax law
Effective 1/1/2016
Line Capital Capital Weighted
no.Capital Structure Structure Cost Cost Pre-Tax Cost
1 Debt 48.810%5.151%2.514%2.514%
2 Preferred 0.010%6.753%0.001%0.001%
3 Common 51.180%9.900%5.067%6.719%
4 TOTAL 7.582%9.234%
5 Consolidated Tax Rate 24.587%
6 Tax Gross-up factor for PTC =(1/(1 -tax rate))1.3260
Property Tax Calculation as filed in PAC-E-15-09
7 Total Company 139,158,574
8 Idaho GPS Factor 5.7978%
9 Idaho Property Taxes 8,068,136
10 idaho Gross EPIS 1,552,375,059
11 Idaho Accum.Depr.(479,609,578)
12 Idaho Accum.Amort.(31,808,156)
13 Idaho Net EPIS 1,040,957,325
14 Estimated Idaho Property Tax Rate 0.775%
15 Idaho SG Factor -Docket No.PAC-E-15-09 6.0136%
16 Idaho GPS Factor -Docket No.PAC-E-15-09 5.7978%
Net Power Cost Incremental Savings Calculation and Definitions
Incremental Generation =Wind Plant Generation MWh -Base Wind Plant Generation MWh
NPC Incremental Savings
=[IncrementalGenHLH × (Monthly Market PriC€HLH -IHÚ€gTŒÚÍOR COSÚS)
+[IncrementalGent¿y × (Monthly Market PriceLLH -ÍnÉ€gTGÚÍORCOSCS)
RTM NPC Benefit =NPC Incremental Savings × ECAMSharing Band
Where:
Incremental Generation =The increase in generation at the wind plants due to the Wind Projects
Wind Plant Generation MWh =The wind plantgeneration associated with the Wind Projects
Base Wind Plant Generation MWh =The windplantgeneration associated with the Wind Projectsthatisincludedinbaserates.
Incremental GenHLH =Theincreaseingenerationatthewindplantduetothe WindProjectsduringheavyloadhoursIncrementalGenLLH=Tire increase in generation at the wind plant due to Wind Projects duringlightloadhoursMonthlyMarketPriceHLH=HeavyloadhourmonthlymarketpriceMonthlyMarketPriceLLH=LightloadhourmonthlymarketpriceIntegrationCosts=Wind integrationcosts from the most recent IRP
RTM NPC Benefit =The NPC benefit absorbed by the Companyin the ECAMas a result ofthesharingband
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