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EX-99.1 - 2009 EEI FINANCIAL CONFERENCE - PACIFICORP /OR/ | exh99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
October 30, 2009 (October
30, 2009)
Date of
Report (Date of earliest event reported)
Commission
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Exact
name of registrant as specified in its charter;
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IRS
Employer
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File
Number
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State
or other jurisdiction of incorporation or
organization
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Identification No.
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1-5152
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PACIFICORP
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93-0246090
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(An
Oregon Corporation)
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825
N.E. Multnomah Street
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Portland,
Oregon 97232
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503-813-5000
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N/A
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(Former
name, former address and former fiscal year, if changed since last
report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
7.01. Regulation FD Disclosure
MidAmerican
Energy Holdings Company, the indirect parent of PacifiCorp, is filing certain
information titled “2009 EEI Financial Conference,” which in part includes
information about PacifiCorp, that is being furnished as Exhibit 99.1 to this
Form 8-K.
In
accordance with general instruction B.2 of Form 8-K, the information in this
report (including exhibits) is being furnished pursuant to Item 7.01 of Form 8-K
and shall not be deemed to be “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise
subject to the liabilities of that section. Furthermore, the information
contained in the presentation filed herewith shall not be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act. This report will not be deemed an admission as to the materiality
of any information in the report that is required to be disclosed solely by
Regulation FD.
Item
9.01. Financial Statements and Exhibits
(d)
Exhibits
Exhibit No.
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Description
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99.1
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Information
titled “2009 EEI Financial Conference.”
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2
Forward-Looking
Statements
This
report (including the information filed as an exhibit hereto) contains
statements that do not directly or exclusively relate to historical facts. These
statements are “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements can
typically be identified by the use of forward-looking words, such as “may,”
“could,” “project,” “believe,” “anticipate,” “expect,” “estimate,” “continue,”
“intend,” “potential,” “plan,” “forecast” and similar terms. These statements
are based upon PacifiCorp’s current intentions, assumptions, expectations and
beliefs and are subject to risks, uncertainties and other important factors.
Many of these factors are outside PacifiCorp’s control and could cause actual
results to differ materially from those expressed or implied by PacifiCorp’s
forward-looking statements. These factors include, among others:
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·
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general
economic, political and business conditions in the jurisdictions in which
PacifiCorp’s facilities operate;
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·
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changes
in governmental, legislative or regulatory requirements affecting
PacifiCorp or the electric utility industry, including limits on the
ability of public utilities to recover income tax expense in rates, such
as Oregon Senate Bill 408;
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·
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changes
in, and compliance with, environmental laws, regulations, decisions and
policies, including those addressing climate change, that could increase
operating and capital costs, reduce plant output or delay plant
construction;
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·
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the
outcome of general rate cases and other proceedings conducted by
regulatory commissions or other governmental and legal
bodies;
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·
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changes
in economic, industry or weather conditions, as well as demographic
trends, that could affect customer growth and usage or supply of
electricity or PacifiCorp’s ability to obtain long-term contracts with
customers and suppliers;
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·
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a
high degree of variance between actual and forecasted load and prices that
could impact the hedging strategy and costs to balance electricity and
load supply;
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·
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hydroelectric
conditions, as well as the cost, feasibility and eventual outcome of
hydroelectric relicensing proceedings, that could have a significant
impact on electric capacity and cost and PacifiCorp’s ability to generate
electricity;
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·
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changes
in prices and availability for both purchases and sales of wholesale
electricity, coal, natural gas, other fuel sources and fuel transportation
that could have a significant impact on generation capacity and energy
costs;
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·
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the
financial condition and creditworthiness of PacifiCorp’s significant
customers and suppliers;
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·
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changes
in business strategy or development
plans;
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·
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availability,
terms and deployment of capital, including severe reductions in demand for
investment grade commercial paper, debt securities and other sources of
debt financing and volatility in the London Interbank Offered Rate, the
base interest rate for PacifiCorp’s credit
facilities;
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·
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changes
in PacifiCorp’s credit ratings;
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·
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performance
of PacifiCorp’s generating facilities, including unscheduled outages or
repairs;
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·
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the
impact of derivative instruments used to mitigate or manage volume, price
and interest rate risk, including increased collateral requirements, and
changes in the commodity prices, interest rates and other conditions that
affect the value of derivative
instruments;
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·
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the
impact of increases in healthcare costs and changes in interest rates,
mortality, morbidity, investment performance and legislation on pension
and other postretirement benefits expense and funding
requirements;
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3
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·
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unanticipated
construction delays, changes in costs, receipt of required permits and
authorizations, ability to fund capital projects and other factors that
could affect future generating facilities and infrastructure
additions;
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·
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the
impact of new accounting pronouncements or changes in current accounting
estimates and assumptions on financial
results;
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·
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other
risks or unforeseen events, including litigation, wars, the effects of
terrorism, embargoes and other catastrophic events;
and
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·
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other
business or investment considerations that may be disclosed from time to
time in PacifiCorp’s filings with the United States Securities and
Exchange Commission or in other publicly disseminated written
documents.
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PacifiCorp
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
The foregoing review of factors should not be construed as
exclusive.
4
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
PACIFICORP
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(Registrant)
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Date: October
30, 2009
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/s/ Douglas K. Stuver
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Douglas
K. Stuver
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Senior
Vice President and Chief Financial Officer
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5
EXHIBIT
INDEX
Exhibit No.
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Description
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99.1
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Information
titled “2009 EEI Financial Conference.”
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6