GE25-001 Testimony

Public Utilities Commission
Capitol Building, 1st floor
500 E. Capitol Ave.
Pierre, SD 57501-5070
Phone: (605) 773-3201

Commission Dockets | previous page

GE25-001 - In the Matter of the Joint Application of NorthWestern Energy Public Service Corporation, Black Hills Corporation and NorthWestern Energy Group, Inc., for Approval of Merger

Evidentiary Hearing Exhibits

Staff
LIUNA
- 06/15/26 - Witness List and Exhibit List
  - Certificate of Service
NorthWestern Energy Public Service Corporation, Black Hills Corporation
- 06/15/26 - Joint Applicants' Witness and Exhibit List
  - Certificate of Service
- 06/16/26 - Black Hills Corporation's Letter regarding Joint Hearing Exhibits Filed via SFTP
- JA-1 - Joint Application
- JA-2 - Direct Testimony and Exhibits of Brian B. Bird
  - JA-2a - BBB-1 – Agreement and Plan of Merger dated August 18, 2025
  - JA-2b - BBB-2 – NorthWestern Energy Group Inc Corporate Structure
- JA-3 - Direct Testimony and Exhibits of Marne M. Jones
  - JA-3a - MMJ-1 – Black Hills Pre-Merger Organizational Chart
  - JA-3b - MMJ-2 – Post-Merger Organizational Chart
  - JA-3c - MMJ-3 – Map of South Dakota Communities Served by Black Hills Power
  - JA-3d - MMJ-4 – Map of Black Hills Power Operations Offices in South Dakota
- JA-4 - Direct Testimony and Exhibits of Crystal D. Lail
  - JA-4a - CDL-1 – S&P Research Update dated August 19, 2025 Confidential (not available to the public)
  - JA-4b - CDL-2 – Moody’s Rating Action dated August 19, 2025 Confidential (not available to the public)
  - JA-4c - CDL-3 – Fitch Rating Action Commentary dated August 26,
  - 2025 Confidential (not available to the public)
  - JA-4d - CDL-4 – Moody’s Credit Opinion dated August 26, 2025 Confidential (not available to the public)
  - JA-4e - CDL-5 – Fitch Report dated September 15, 2025 Confidential (not available to the public)
- JA-5 - Direct Testimony and Exhibits of Kimberly F. Nooney
- JA-6 - Direct Testimony and Exhibits of Thomas D. Stevens
  - JA-6a - TDS-1 – Black Hills’ S&P Credit Ratings Report 08-19-25 Confidential (not available to the public)
  - JA-6b - TDS-2 – Black Hills’ Moody’s Ratings Affirmation Press Release 08-19-25
  - JA-6c - TDS-3 – Black Hills’ Moody’s Credit Ratings Report 08-27-25 Confidential (not available to the public)
- JA-7 - Rebuttal Testimony of Marne M. Jones
- JA-8 - Rebuttal Testimony of Bleau J. LaFave
- JA-9 - Rebuttal Testimony of Crystal D. Lail
- JA-10 - Rebuttal Testimony of Michael A. Pogany
- JA-11 - Settlement Stipulation – Joint Applicants and Staff
- JA-12 - Joint Applicants’ Response to Staff’s First Set of Data Requests
  - JA-12a - Staff 1.1a – Northwestern SD General Mortgage Indenture 08-01-93
  - JA-12b - Staff 1.1b – NorthWestern Credit Agreement Holdings NW Energy NorthWestern 11-29-93
  - JA-12c - Staff 1.1c - BH SDPUC Order Authorizing Issuance of Debt Securities 10-23-24
  - JA-12d - Staff 1.1d - BH SDPUC Order Authorizing Unlimited Short-Term Debt 02-23-01
  - JA-12e - Staff 1.1e - BH Utility Money Pool Agreement
  - JA-12f - Highly Confidential Staff 1.2 – BH Intercompany Note BHP to BHC 10-02-25
  - JA-12g - Staff 1.3a – BH BHSC Cost Allocation Manual 12-20-24
  - JA-12h - Staff 1.3b – NorthWestern NW Corp Cost Allocation Manual 01-01-24
  - JA-12i - Staff 1.4a – NorthWestern Intercompany Services Agreement 10-02-23
  - JA-12j - Staff 1.4b – NorthWestern Statement H History SD Gas
  - JA-12k - Staff 1.4c – NorthWestern Statement H History Electric
  - JA-12l - Staff 1.4d – BH GDEMA CLFP-BHP 07-21-24
  - JA-12m - Staff 1.4e – BH Service Agreement BHSC-BHP 08-01-09
  - JA-12n - Staff 1.4f – BH Agency Agreement – BHSC-All BU’s 01-01-19
  - JA-12o - Staff 1.4g – BH Wygen I Services Agreement 07-20-21
  - JA-12p - Staff 1.4h – BH Wygen II O&M Services Agreement 02-07-07
  - JA-12q - Staff 1.4i – BH Intercompany Service Agreements 02-07-07
  - JA-12r - Highly Confidential Staff 1.16a – S&P Ratings Agency Presentation 08-01-25
  - JA-12s - Highly Confidential Staff 1.16b – S&P Project River RAS Model 08-01-25
  - JA-12t - Highly Confidential Staff 1.16c – S&P RES Feedback Letter 08-12-25
  - JA-12u - Highly Confidential Staff 1.16d – Moody’s Ratings Agency Presentation 08-04-25
  - JA-12v - Highly Confidential Staff 1.16e – Moody’s Project River RAS Model 08-04-25
  - JA-12w - Highly Confidential Staff 1.16f – Moody’s RAS Feedback Letter 08-14-25
  - JA-12x - Highly Confidential Staff 1.18 – NorthWestern 5-Year Financial Forecast
  - JA-12y - Highly Confidential Staff 1.29a – NorthWestern SD OA&G and Capital Summary 5 year Plan 02-25
  - JA -12z - Highly Confidential Staff 1.29b – BH SD O&M and Capital Summary 5 year plan 01-2025
  - JA-12aa - Staff 1.30a – NorthWestern Capital Project Approval Policy 10-16-25 Confidential (not available to the public)
  - JA-12ab - Staff 1.30b – BH Contract and Signature Authority Policy Confidential (not available to the public)
  - JA-12ac - Staff 1.31a – NorthWestern Capital Budget Prioritization via Project Portfolio Management
  - JA-12ad - Staff 1.31b – BH SD Capital Ranking Matrix
  - JA-12ae - Highly Confidential Staff 1.32a – NorthWestern SD Capital Projects
  - JA-12af - Highly Confidential Staff 1.32b – BH SD 5 Year Capital Projects 2025-2029
  - JA-12ag - Staff 1.33a – NorthWestern SD Distribution Operations Org Chart
  - JA-12ah - Staff 1.33b – NorthWestern Transmission Org Chart
  - JA-12ai - Staff 1.33c – NorthWestern SD Energy Supply Org Chart
  - JA-12aj - Staff 1.33d – NorthWestern SD Asset Management Org Chart
  - JA-12ak - Staff 1.33e – BH BHP Operations Org Chart
  - JA-12al - Staff 1.33f – BH BHC Pipeline Compliance and Asset Org Chart
  - JA-12am - Staff 1.33g – BH BHC Elect Strategy Plan and Policy Org Chart
  - JA-12an - Staff 1.33h – BH BHC Engineering Project Delivery and Sys Ops Org Chart
  - JA-12ao - Staff 1.43a – NorthWestern Internal Work Order Memo Confidential (not available to the public)
  - JA-12ap - Staff 1.43b – BH Update Merger Work Order Guidelines Confidential (not available to the public)
- JA-13 - Joint Applicants’ Response to Staff’s 1.9 and 1.39
  - JA-13a - Staff 1.9a – NorthWestern FA20-7-000 – NorthWestern Corporation Final Audit Report
  - JA-13b - Staff 1.9b – NorthWestern FERC Audit Implementation Plan 04-23
  - JA-13c - Staff 1.9c – BH IC Test - Allocations Confidential (not available to the public)
  - JA-13d - Highly Confidential Staff 1.39a – NorthWestern Internal Audit Report 12-31-20 Final
  - JA-13e - Highly Confidential Staff 1.39b – NorthWestern Internal Audit Report 12-31-21 Final
  - JA-13f - Highly Confidential Staff 1.39c – NorthWestern Internal Audit Report 12-31-21 Findings
  - JA-13g - Highly Confidential Staff 1.39d – NorthWestern Internal Audit Report 12-31-22 Final
  - JA-13h - Highly Confidential Staff 1.39e – NorthWestern Internal Audit Report 12-31-23 Final
  - JA-13i - Highly Confidential Staff 1.39f – NorthWestern Internal Audit Report 12-31-23 Findings
  - JA-13j - Highly Confidential Staff 1.39g – NorthWestern Internal Audit Report 12-31-24 Final
  - JA-13k - Highly Confidential Staff 1.39h – BH IC Test-Budgeting
  - JA-13l - Highly Confidential Staff 1.39i – BH 2020 IC-Financial Reporting
  - JA-13m - Highly Confidential Staff 1.39j – BH 2021 IC-Financial Reporting
  - JA-13n - Highly Confidential Staff 1.39k – BH 2022 IC-Financial Reporting
  - JA-130 - Highly Confidential Staff 1.39l – BH 2023 IC-Financial Reporting
  - JA-13p - Highly Confidential Staff 1.39m – BH 2024 IC-Financial Reporting
- JA-14 - Joint Applicants Response to Staff 1.19, 1.23 and 1.49
  - JA-14a - Highly Confidential Staff 1.19a – NorthWestern Mizuho Project River Yellowstone Materials 04-29-25
  - JA-14b - Highly Confidential Staff 1.19b – NorthWestern Transaction Analysis 06-20-25
  - JA-14c - Highly Confidential Staff 1.19c – NorthWestern Project River Transaction Update 08-13-25
  - JA-14d - Highly Confidential Staff 1.19d – NorthWestern Project River Presentation to Yellowstone BoD 08-18-25
  - JA-14e - Highly Confidential Staff 1.19e – NorthWestern Project River Yellowstone Materials TC 04-21-25
  - JA-14f - Highly Confidential Staff 1.19f – NorthWestern Transaction Analysis TC 06-20-25
  - JA-14g - Highly Confidential Staff 1.19g – NorthWestern Project River Transaction Update TC 08-13-25
  - JA-14h - Highly Confidential Staff 1.19h – BH Presentations
- JA -15 - Joint Applicants’ Response to Staff 1.10
  - JA -15a - Highly Confidential Staff 1.10a – NorthWestern Project River Transaction Update 06-25-25
  - JA-15b - Highly Confidential Staff 1.10b – NorthWestern Project River Transaction Update 06-25-25
  - JA-15c - Highly Confidential Staff 1.10c – NorthWestern Mizuho Project River Update 07-14-25
  - JA-15d - Highly Confidential Staff 1.10d – NorthWestern MOE Board Considerations
  - JA -15e - Highly Confidential Staff 1.10e – NorthWestern MO Counter 07-07-25
- JA -16 - Joint Applicants’ Amended Response to Staff’s First Set of Data Requests
- JA-17 - Joint Applicants’ Response to Staff’s Second Set of Data Requests
  - JA-17a - Highly Confidential Staff 2.2a – BH Integration Presentation 01-05-26
  - JA-17b - Highly Confidential Staff 2.2b – NorthWestern Integration PwC December 2025
  - JA-17c - Staff 2.2c – IMO Governance Structure and Leads Appointments Confidential (not available to the public)
  - JA-17d - Staff 2.4a – Joint Modified Request for Proposal Overview 10-2025 Confidential (not available to the public)
  - JA-17e - Staff 2.4b – 1 RFP Response Confidential (not available to the public)
  - JA-17f - Staff 2.4c – 2 RFP Response Confidential (not available to the public)
  - JA-17g - Staff 2.4d – 3 RFP Response Confidential (not available to the public)
  - JA-17h - Staff 2.4e – PwC Scope of Work Confidential (not available to the public)
  - JA-17i - Highly Confidential Staff 2.8a – Mizuho Project River Presentation to Yellowstone BoD
  - JA-17j - Highly Confidential Staff 2.8b – Mizuho Project River Transaction Update 2026 06 25
  - JA-17k - Highly Confidential Staff 2.8c – Mizuho Project River Transaction Update 2025 07 30
  - JA-17l - Highly Confidential Staff 2.8d – Mizuho Project River Transaction Update 2025 08 13
  - JA-17m - Highly Confidential Staff 2.8e – Mizuho Project River Update 2025 07 14
  - JA-17n - Highly Confidential Staff 2.8f – Mizuho Project River Yellowstone Materials
  - JA-17o - Highly Confidential Staff 2.8g – Mizuho Transaction Analysis 06 20 2025
  - JA-17p - Highly Confidential Staff 2.8h – Mizuho Project River Update 2025 06 16
  - JA-17q - Highly Confidential Staff 2.8i – Mizuho Missouri Debt and Equity Research
  - JA-17r - Highly Confidential Staff 2.8j – Mizuho MOE Board Considerations
  - JA-17s - Highly Confidential Staff 2.8k – Mizuho Preliminary Transaction Structure
  - JA-17t - Highly Confidential Staff 2.8l – Mizuho Premium Analysis
  - JA-17u - Highly Confidential Staff 2.8m – Mizuho Project River Follow Up 2025 07 09
  - JA-17v - Highly Confidential Staff 2.8n – Mizuho Project River Transaction Analysis Update 2025 06 30
  - JA-17w - Highly Confidential Staff 2.8o – Mizuho Project River Transaction Update 2025 06 25
  - JA-17x - Highly Confidential Staff 2.8p – Mizuho Project River Transaction Update 2025 07 11
  - JA-17y - Highly Confidential Staff 2.8q – Mizuho Project River Transaction Update 2025 08 07
  - JA-17z - Highly Confidential Staff 2.8r – Mizuho Project River Transaction Update 2025 08 13
  - JA-17aa - Highly Confidential Staff 2.8s – Mizuho Project River Update 2025 07 07
  - JA-17ab - Highly Confidential Staff 2.8t – Mizuho Project River Yellowstone Materials 2025 04 21
  - JA-17ac - Highly Confidential Staff 2.8u – Mizuho Status Update 2025 06 05
  - JA-17ad - Highly Confidential Staff 2.8v – Mizuho Transaction Analysis
  - JA-17ae - Highly Confidential Staff 2.8w - Mizuho Transaction Workplan
  - JA-17af - Highly Confidential Staff 2.8x - Ratings Agency Presentation
  - JA-17ag - Highly Confidential Staff 2.8y - WTW Compensation Matters Briefing
  - JA-17ah - Highly Confidential Staff 2.8aa- BH Goldman Sachs Presentations
  - JA-17ai - Highly Confidential Staff 2.8bb - BH Officer Retention Presentation 08-13-25
  - JA-17aj - Highly Confidential Staff 2.8cc - BH Merger Agreement Terms for HR Matters 08-15-25
- JA-18 - Joint Applicants Supplemental Response to Staff 2.2
  - JA-18a - Staff 2.2d - IMO Transaction Steering Committee Presentation
  - JA-18b - Staff 2.2e - Functional Sub-Functional IMO Committee Presentation
- JA-19 - Joint Applicants Supplemental Response to Staff 2.5 and 2.9
  - JA-19a - Staff 2.5a - Merged Company CAM Example
  - JA-19b - Highly Confidential Staff 2.9e - Value Creation Analysis
- JA-20 - Joint Applicants Supplemental Response to Staff 2.8
  - JA-20a - Highly Confidential Supp Staff 2.8a - 2025 04 21 Transaction Comm Minutes
  - JA-20b - Highly Confidential Supp Staff 2.8b - 2025 04 29 Board Minutes
  - JA-20c - Highly Confidential Supp Staff 2.8c - 2025 05 06 Transaction Comm Minutes
  - JA-20d - Highly Confidential Supp Staff 2.8d - 2025 05 13 Transaction Comm Minutes
  - JA-20e - Highly Confidential Supp Staff 2.8e - 2025 05 22 Transaction Comm Minutes
  - JA-20f - Highly Confidential Supp Staff 2.8f - 2025 06 06 Transaction Comm Minutes
  - JA-20g - Highly Confidential Supp Staff 2.8g - 2025 06 20 Special Board Minutes Redacted
  - JA-20h - Highly Confidential Supp Staff 2.8h - 2025 06 20 Transaction Comm Minutes
  - JA-20i - Highly Confidential Supp Staff 2.8i - 2025 06 25 Special Board Minutes
  - JA-20j - Highly Confidential Supp Staff 2.8j - 2025 06 25 Transaction Comm Minutes redacted
  - JA-20k - Highly Confidential Supp Staff 2.8k - 2025 06 30 Transaction Comm Minutes
  - JA-20l - Highly Confidential Supp Staff 2.8l - 2025 07 07 Transaction Comm Minutes
  - JA-20m - Highly Confidential Supp Staff 2.8m - 2025 07 11 Transaction Comm Minutes
  - JA-20n - Highly Confidential Supp Staff 2.8n - 2025 07 14 Special Board Minutes redacted
  - JA-20o - Highly Confidential Supp Staff 2.8o - 2025 07 15 Special Board Minutes
  - JA-20ar - Highly Confidential Supp Staff 2.8ss – Board Minutes 08-15-25
  - JA-20as - Highly Confidential Supp Staff 2.8tt – Board Minutes 08-17-25
  - JA-20at - Highly Confidential Supp Staff 2.8uu – Board Minutes 08-18-25
  - JA-20au - Highly Confidential Supp Staff 2.8vv – Board Minutes 04-22-4-23-2025
  - JA-20av - Highly Confidential Supp Staff 2.8ww – Board Minutes 10-28-10-29-25
- JA-21 - Joint Applicants Second Supplemental Response to Staff 2.9
  - JA-21a - Highly Confidential 2nd Supplemental Staff 2.9f – Value Creation 2
- JA-22 - Joint Applicants Second Supplemental Response to Staff 2.2 and 2.8
  - JA-22a - Highly Confidential Amended Supp Staff 2.8vv – Board Minutes 04-22-04-23-25
  - JA-22b - Highly Confidential Amended Supp Staff ww – Board Minutes 10-28-10-29-25
  - JA-22c - Highly Confidential Second Supp Staff 2.2 – PwC Day 1 Requirements Read Out 02-23-2026
- JA-23 - Joint Applicants Response to LIUNA First Set of Data Requests
  - JA-23a - LIUNA 1.1a – NorthWestern Contracting Policy
  - JA-23b - LIUNA 1.1b – NorthWestern Vendor Selection Policy
  - JA-23c - LIUNA 1.1c – BH Strategic Sourcing Contracts Procedure Confidential (not available to the public)