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EL18-021 - In the Matter of the Application of Otter Tail Power Company for Authority to Increase Its Electric Rates
Date Filed: 04/20/18 ♦ Intervention Date: 06/01/18
Date of Notice of Filing: 04/26/18 ♦ Docket Closed: 07/25/19
Docket Reopened: 09/22/22 ♦ Docket Closed: 11/04/22
Agendas:
June 25, 2019, Agenda of Commission Meeting
May 28, 2019, Agenda of Commission Meeting
May 14, 2019, Agenda of Commission Meeting
March 1, 2019, Agenda of Commission Meeting
July 10, 2018, Agenda of Commission Meeting
May 15, 2018, Agenda of Commission Meeting
October 27, 2022, Agenda of Commission Meeting
Minutes:
Minutes of June 25, 2019 Commission Meeting
Minutes of May 28, 2019 Commission Meeting
Contact Precision Reporting to order a written transcript of EL18-021
Minutes of May 14, 2019 Commission Meeting
Contact Precision Reporting to order a written transcript of EL18-021
Minutes of March 1, 2019, Commission Meeting
Minutes of July 10, 2018, Commission Meeting
Minutes of May 15, 2018, Commission Meeting
Minutes of October 27, 2022, Commission Meeting
Pre-filed Exhibits and Witness Lists for Evidentiary Hearing
Hearings:Evidentiary hearing will be held 9:30 a.m., CDT, Tuesday, March 26, 2019, through Thursday, March 28, 2019, with the marking of exhibits to begin at 8:30 a.m.,
CDT, on March 26, 2019, in Room 413, State Capitol Building, 500 E. Capitol Ave., Pierre, South Dakota
- 03/07/19 - Order For and Notice of Evidentiary Hearing
- South Dakota Public Utilities Commission Information Guide to Electric Rate Increase Requests
- Morning Recording
- Afternoon Recording
- Sign In Sheet
- Exhibits
- Contact Precision Reporting to order a written transcript
- 05/16/18 - Order Suspending Operation of Proposed Rates; Order Assessing Filing Fee; Order Authorizing Executive Director to Enter Into a Consulting Contract
- 07/16/18 - Order Granting Late Filed Intervention (Valley Queen Cheese Factory, Inc.)
- 02/07/19 - Scheduling Order
- 03/06/19 - Order Granting Joint Motion for Approval of Settlement Stipulation; Order Approving Settlement Stipulation
- 03/07/19 - Order For and Notice of Evidentiary Hearing
- 03/18/19 - Amended Scheduling Order
- 04/02/19 - Second Amended Scheduling Order
- 05/30/19 - Final Decision and Order; Notice of Entry
- 07/09/19 - Order Approving Interim Refund Plan; Order Approving Tariff Revisions
- 07/22/19 - Errata Notice
- 10/28/22 - Order Approving Tariff Revisions; Order Approving Impacted Customer Refunds; Order Approving General Service Rate Brochure Revisions
- 04/20/18 - Otter Tail Power Company's Volume 1, 2, 3, 4
- Volume 2 - Direct Testimony and Supporting Schedules
- Volume 3 - Tariffs
- Volume 4 - Workpapers and Supporting Information
- 05/09/18 - Staff Memorandum regarding Interim Rates
- 06/28/18 - Valley Queen Cheese Factory, Inc.'s Petition to Intervene and Certificate of Service
- 07/16/18 - Otter Tail Power Company's Letter and GE17-003 - Additional Comments
- 08/31/18 - Valley Queen Cheese Factory, Inc.'s Interrogatories of Intervenor to Otter Tail Power Company Certificate of Service
- 08/31/18 - Valley Queen Cheese Factory, Inc.'s Interrogatories of Intervenor to Otter Tail Power Company Amended Certificate of Service
- 09/17/18 - Otter Tail Power Company's Letter regarding Notice of Intent to Implement Interim Rates
- Notice of Intent to Implement Interim Electric Service Rates
- Attachment A - Comparison of Operating Revenues Under Present and Proposed Base Rates by Rate Schedule
- Attachment B - Bill Comparison of Current Rates and Interim Rates
- Attachment C
- Attachment D - Report to Commission of Tariff Schedule Changes on Notice
- Attachment E - Otter Tail Power Company Notice of Interim Rate Increase
- Affidavit of Service
- Notice of Intent to Implement Interim Electric Service Rates
- 11/01/18 - Otter Tail Power Company's Letter regarding Supplemental Direct Testimony and Errata Filing
- Tyler A. Akerman's Supplemental Direct Testimony
- Schedule 1 - Jurisdictional Financial Summary, Supplemental
- Schedule 2 - Test Year Rate Base, Supplemental
- Schedule 3 - Test Year Rate Base Adjustments, Supplemental
- Schedule 4 - Test Year Income Statement, Supplemental
- Schedule 5 - Test Year Income Statement Adjustments, Supplemental
- Schedule 6 - Plant Normalization TY-01 Adjustment, Supplemental
- Stuart D. Tommerdahl's Supplemental Direct Testimony
- Schedule 1 - Sales and Revenue Normalization Process Overview
- Schedule 2-1 - Summary-All Revenues - Original
- Schedule 2-2 - Summary-All Revenues - Revised
- Schedule 2-3 - Summary-Base Revenues - Original
- Schedule 2-4 - Summary-Base Revenues - Revised
- Schedule 2-5 - Reconcile
- Schedule 2-6 - CIS339 Actual Billed kWhs
- Schedule 2-7 - Bill Adjustments
- Schedule 2-8 - Unbilled
- Schedule 2-9 - WN kWh
- Schedule 2-10 - Monthly kWh
- Schedule 2-11 - Fuel Adjustments
- Schedule 2-12 - Revenue Overview
- Schedule 2-13 - Revenue Detail
- Errata
- Bruce G. Gerhardson- Policy
- Tyler A. Akerman - Rate Base, Revenue Requirement and Adjustments
- Workpapers Volume 4a
- Stuart D. Tommerdahl - Major Projects, Test Year Revenues, Allocation
Factors & Other Regulatory Matters (Information was Filed Within His Supplemental Direct Testimony and Supplemental Financial Schedules) - David G. Prazak - Rate Design - Tariff Pages
- Affidavit of Service
- Tyler A. Akerman's Supplemental Direct Testimony
- 02/05/19 - Stipulation for Procedural Schedule
- 02/15/19 - Joint Motion for Approval of Settlement Stipulation (PUC Staff and Otter Tail Power Company)
- 02/19/19 - Testimony of Basil L. Copeland Jr. (Rate of Return on Equity)
- Exhibit___(BLC-1) Schedule 1 - DCF Rate of Return Analysis Using Dividend Cash Flow Model
- Exhibit____(BLC-1) Schedule 2 - DCF Rate of Return Analysis Using Dividend Discount Model
- Exhibit____(BLC-1) Schedule 3 - Derivation of the Excess Return on Equity Formula
- Exhibit____(BLC-1) Schedule 4 - Empirical Tests of Market-to-Book Ratio and Excess Returns on Equity
- Exhibit____(BLC-1) Schedule 5 - Cost of Equity Analysis Using Market-to-Book Ratios and Excess Returns
- Exhibit____(BLC-1) Schedule 6 - Damodaran Market Risk Premium Model
- Exhibit____(BLC-1) Schedule 7 - CAPM Rate of Return Analysis
- Exhibit____(BLC-1) Schedule 8 - Formula for Adjusting the Cost of Equity to Allow for Stock Expense and Underpricing
- Exhibit____(BLC-1) Schedule 9 - Stock Performance Chart for Comparable Companies and Otter Tail Corporation
- Exhibit____(BLC-1) Schedule 10 - Major Issues in Mr. Hevert’s Estimation of Cost of Equity and Required Rate of Return on Equity
- Certificate of Service
- 02/21/19 - Staff Memorandum Supporting Settlement Stipulation
- Attachment 1 - SD Electric Revenue Requirement
- Attachment 2a - SD Electric Operating Income Statement Summary
- Attachment 2b - SD Electric Operating Income Statement With Known and Measurable Adjustments
- Attachment 3a - SD Rate Base Summary
- Attachment 3b - SD Rate Base With Known and Measurable Adjustments
- Attachment 4 - CISone Project
- Attachment 5 - Big Stone II Amortization
- Attachment 6 - Wages, KPA, and Management Incentive
- Attachment 6 - Wages, KPA, and Management Incentive - Pages 8-9 Confidential (not available to the public)
- Attachment 7 - Benefits Expense
- Attachment 8 - Rate Case Expense
- Attachment 9 - Plant Outage Normalization
- Attachment 10 - Tax Cuts and Jobs Act
- Attachment 11 - Association Dues
- Attachment 12 - Interest Synchronization Adjustment
- Attachment 13 - Vegetation Management
- Attachment 14 - Advertising Expense
- Attachment 15 - Structures Expense
- Attachment 16 - Cash Working Capital
- Attachment 17 - Tax Collections Available
- Attachment 18 - Working Capital Updates
- Attachment 19 - Cost of Capital
- Attachment 20 - SD Electric Revenue Requirement - OTP ROE
- Attachment 21a - SD Electric Operating Income Statement Summary - OTP ROE
- Attachment 21b - SD Electric Operating Income Statement With Known and Measurable Adjustments - OTP ROE
- Attachment 22a - SD Rate Base Summary - OTP ROE
- Attachment 22b - SD Rate Base With Known and Measurable Adjustments - OTP ROE
- Attachment 23 - Interest Synchronization Adjustment - OTP ROE
- Attachment 24 - Cash Working Capital - OTP ROE
- Attachment 25 - Tax Collections Available - OTP ROE
- Attachment 26 - Cost of Capital - OTP ROE
- Certificate of Service
- 03/15/19 - Second Stipulation for Procedural Schedule
- 03/15/19 - Otter Tail Power Company's Letter and Affidavit of Service
- Rebuttal Testimony of Bruce G. Gerhardson (Policy)
- Rebuttal Testimony of Kevin G. Moug (Cost of Capital)
- Rebuttal Testimony of Robert B. Hevert (Return of Equity)
- Exhibit___(RBH-2), Schedule 1 - Constant Growth DCF Results
- Exhibit___(RBH-2), Schedule 2 - Multi-Stage DCF Results
- Exhibit___(RBH-2), Schedule 3 - Market Risk Premium Results
- Exhibit___(RBH-2), Schedule 4 - Beta Coefficient Estimates
- Exhibit___(RBH-2), Schedule 5 - Capital Asset Pricing Model Results
- Exhibit___(RBH-2), Schedule 6 - Bond Yield Plus Risk Premium
- Exhibit___(RBH-2), Schedule 7 - Recently Authorized ROEs
- Exhibit___(RBH-2), Schedule 8 - “Excess Returns” Analysis
- Exhibit___(RBH-2), Schedule 9 - Growth Rate Regressions Analysis
- Exhibit___(RBH-2), Schedule 10 - Retention Growth Regression Analysis
- Exhibit___(RBH-2), Schedule 11 - Copeland DDM – Adjusted Terminal Value
- Exhibit___(RBH-2), Schedule 12 - Historical Market Risk Premium and Market Return
- 03/21/19 - PUC Staff's Motion in Limine
- 03/21/19 - Order (Pro Hac Vice Richard J. Johnson)
- 03/21/19 - Notice of Appearance (Brett Koenecke)
- 03/21/19 - Otter Tail Power Company's Order regarding Pro Hac Vice of a Non-Resident Attorney and Notice of Appearance Certificate of Service
- 03/22/19 - PUC Staff's Witness and Exhibit List
- 03/22/19 - Otter Tail Power Company's Letter regarding Response to Staff's Motion in Limine
- 03/25/19 - Otter Tail Power Company's Witness and Exhibit List
- 03/25/19 - Otter Tail Power Company's Pre-filed Exhibits
- 03/29/19 - Third Stipulation for Procedural Schedule
- 04/02/19 - Otter Tail Power Company's Letter, Revised Exhibit____SDT-1 - Schedule 2 - Savings Impacts from Big Stone AQCS Project (Page 1 only) and Affidavit of Service
- 04/23/19 - PUC Staff's Letter regarding Post-Hearing Brief
- Staff's Post-Hearing Brief
- Attachment 1 - Actual and Fitted M/B Versus XROE
- Attachment 2 - DCF Rate of Return Analysis Using Dividend Discount Model
- Attachment 3 - Duff & Phelps - Table: Equity Risk Premium & Risk-free Rates
- Attachment 4 - Market Risk Premium Calculations
- Attachment 5 - Capital Asset Pricing Model Results
- Attachment 6 - Capital Asset Pricing Model Results
- Certificate of Service
- Staff's Post-Hearing Brief
- 04/23/19 - Otter Tail Power Company's Letter regarding Post-Hearing Brief
- 04/29/19 - Staff's Proposed Order and Findings of Fact and Conclusions of Law
- 04/30/19 - Otter Tail Power Company's Letter and Affidavit of Service
- 05/24/19 - PUC Staff's Letter regarding Final Revenue Requirement
- Exhibit 1 - SD Electric Revenue Requirement - 5-14-2019 Commission Decision
- Exhibit 2a - SD Electric Operating Income Statement Summary - 5-14-2019 Commission Decision
- Exhibit 2b - SD Electric Operating Income Statement With Known and Measurable Adjustments - 5-14-2019 Commission Decision
- Exhibit 3a - SD Rate Base Summary - 5-14-2019 Commission Decision
- Exhibit 3b - SD Rate Base With Known and Measurable Adjustments - 5-14-2019 Commission Decision
- Exhibit 4 - Rate Case Expense - 5-14-2019 Commission Decision
- Exhibit 5 - Interest Synchronization Adjustment - 5-14-2019 Commission Decision
- Exhibit 6 - Cash Working Capital - 5-14-2019 Commission Decision
- Exhibit 7 - Tax Collections Available - 5-14-2019 Commission Decision
- Exhibit 8 - Cost of Capital - 5-14-2019 Commission Decision
- 06/24/19 - Otter Tail Power Company's Letter regarding Final Rates
- Table of Contents
- Schedule 1 - Summary Comparison of Operating Revenue
- Schedule 2 - Comparison of Operating Revenue by Rate Schedule
- Schedule 3 - All Billing Determinants for Retail Sales
- Schedule 4 - Tariff Sheets
- Schedule 5 - Customer Notice
- Schedule 6 - Energy Adjustment Rider
- Schedule 7 - List of Tariff Sheet Revisions
- Schedule 8 - Interim Refund Plan
- Schedule 9 - Summary of Environmental and Transmission Riders
- 06/24/19 - Otter Tail Power Company's Affidavit of Service
- 07/01/19 - Stipulation on Correcting Electric Plant in Service-Transmission Rate Base Total
- 07/22/19 - Otter Tail Power Company's Letter regarding Revised Tariff Pages and Certificate of Service
- 07/25/19 - Docket Closed
- 12/02/19 - Otter Tail Power Company's Letter regarding Interim Rate Refund Report Compliance Filing
- 09/22/22 - Otter Tail Power Company's Letter regarding Tariff Revisions
- 11/04/22 - Otter Tail Power Company's Letter regarding Tariff Pages and UpdatedGeneral Service Rate Brochure.
- 11/07/22 - Docket Closed
