231612112O3512136247C011963122024/Q13481721452 C011963 HHDAEAF7FB287559D30D6F4ED7B121CAE0 2024-01-012024-03-31 C011963 HH5B2DFF5B695AB5F1B55728ACBC142860 2024-01-012024-03-31 C011963 HHDE458B788D4277FF3FC8F3E920F6E7FF 2024-01-012024-03-31 C011963 HH14C86835CD39E33762489610B3FCF8B8 2024-01-012024-03-31 C011963 ferc:CommonUtilityMember 2024-03-31 C011963 HH2A4FAB925455A5F557FA7D4EFC30AA40 2024-01-012024-03-31 C011963 2023-12-31 C011963 HH06ECF7086F0A59ED1610913EFD3F4607 2024-01-012024-03-31 C011963 HH5B2DFF5B695AB5F1B55728ACBC142860 2024-03-31 C011963 HHDE458B788D4277FF3FC8F3E920F6E7FF 2024-01-012024-03-31 C011963 HH082F9687349C543C3F0E2FD3340CEC3E 2024-01-012024-03-31 C011963 ferc:ElectricUtilityMember 2024-01-012024-03-31 C011963 HH5D503FC419A855A7A35C2748DF5AA7D2 2024-01-012024-03-31 C011963 HHC6A7FBE869B5D338F26C6BE58100676B 2024-01-012024-03-31 C011963 HH6B7AF46A22F84DED52061B8AF5ACC580 2024-01-012024-03-31 C011963 HHDE458B788D4277FF3FC8F3E920F6E7FF 2024-03-31 C011963 HHED9B5D93B10F95F9330832F1FD93753B 2024-03-31 C011963 HH06ECF7086F0A59ED1610913EFD3F4607 2024-03-31 C011963 South Dakota Operations 2024-01-012024-03-31 C011963 ScheduleTransmissionOfElectricityByIsoOrRtoAbstract 2024-01-012024-03-31 C011963 ferc:OtherProductionPlantMemberferc:ElectricUtilityMember 2024-01-012024-03-31 C011963 HH74598AF814F798F2736634D9DD96F01F 2024-03-31 C011963 HH3CAD28A2181B66EAF919BB9CDFC62CCE 2024-03-31 C011963 ferc:GenerationStudiesMember 2024-01-012024-03-31 C011963 ferc:GeneralPlantMemberferc:ElectricUtilityMember 2024-01-012024-03-31 C011963 HH547664D5F062ABB9A7CD4CBB083DB31A 2024-01-012024-03-31 C011963 HH3CAD28A2181B66EAF919BB9CDFC62CCE 2024-01-012024-03-31 C011963 ferc:TransmissionPlantMemberferc:ElectricUtilityMember 2024-01-012024-03-31 C011963 ScheduleMonthlyTransmissionSystemPeakLoadAbstract 2024-01-012024-03-31 C011963 HHF13F279E8D9DFF2AA7FCA79847BF3454 2024-01-012024-03-31 C011963 ScheduleRegionalTransmissionServiceRevenuesAbstract 2024-01-012024-03-31 C011963 ferc:GenerationStudiesMember HHADBEAFE760637FFA06A5A528A2425EC9 2024-01-012024-03-31 C011963 HHC793DDF0091C4F07817DF55F93548023 2024-03-31 C011963 ferc:DistributionPlantMemberferc:ElectricUtilityMember 2024-01-012024-03-31 C011963 ferc:TransmissionStudiesMember 2024-01-012024-03-31 C011963 HHA0A6C250C667D01C5BCD76A7AFB4DF48 2024-01-012024-03-31 C011963 ferc:GasUtilityMember 2024-03-31 C011963 HHC793DDF0091C4F07817DF55F93548023 2024-01-012024-03-31 C011963 HH67658B7C99CE439B5716100DDE7AF9B0 2024-01-012024-03-31 C011963 South Dakota Operationsferc:MarchMember 2024-01-012024-03-31 C011963 HHADBEAFE760637FFA06A5A528A2425EC9 2024-01-012024-03-31 C011963 South Dakota Operationsferc:FebruaryMember 2024-01-012024-03-31 C011963 2024-03-31 C011963 HHEDD379A7D8B1E9AD1FE66A4C401DB8B4 2024-01-012024-03-31 C011963 HH67658B7C99CE439B5716100DDE7AF9B0 2024-03-31 C011963 HHCDC845BA5FDE3C6F65CFCFBBA8062278 2024-01-012024-03-31 C011963 HH5D503FC419A855A7A35C2748DF5AA7D2 2024-03-31 C011963 South Dakota Operationsferc:JanuaryMember 2024-01-012024-03-31 C011963 2023-03-31 C011963 2022-12-31 C011963 HHB261C9784E59437BD309BFE407BDFAAB 2024-03-31 C011963 ferc:CommonPlantElectricMemberferc:ElectricUtilityMember 2024-01-012024-03-31 C011963 HH9B389718951AC0F50BBEC00526C6BF3E 2024-01-012024-03-31 C011963 2024-01-012024-03-31 C011963 2023-01-012023-03-31 C011963 ferc:GasUtilityMember 2024-01-012024-03-31 C011963 HHB261C9784E59437BD309BFE407BDFAAB 2024-01-012024-03-31 C011963 ferc:OtherUtilityMember 2024-03-31 C011963 HHE9D30C449BCF638A090D84A0C1138091 2024-01-012024-03-31 C011963 HHED9B5D93B10F95F9330832F1FD93753B 2024-01-012024-03-31 C011963 HH6311AE17C1EE52B36E68AAF4AD066387 2024-01-012024-03-31 C011963 HH74598AF814F798F2736634D9DD96F01F 2024-01-012024-03-31 C011963 HHF51A7BE8595A06CCD930856689E2F9F7 2024-01-012024-03-31 C011963 HHDE458B788D4277FF3FC8F3E920F6E7FF 2024-03-31 C011963 ferc:SteamProductionPlantMemberferc:ElectricUtilityMember 2024-01-012024-03-31 C011963 HH00748667A19AD39BD41C80400D838E8C 2024-01-012024-03-31 C011963 ferc:ElectricUtilityMember 2024-03-31 C011963 ferc:IntangiblePlantMemberferc:ElectricUtilityMember 2024-01-012024-03-31 C011963 HHF81873C32FC169EE4AFA8EA831F6ABA4 2024-01-012024-03-31 C011963 HH36A23D2DBB508979ACD6F221115BC4D1 2024-01-012024-03-31 utr:MWh iso4217:USD xbrli:pure utr:MW
THIS FILING IS
Item 1:
An Initial (Original) Submission
OR
Resubmission No.

FERC FINANCIAL REPORT
FERC FORM No. 1: Annual Report of
Major Electric Utilities, Licensees
and Others and Supplemental
Form 3-Q: Quarterly Financial Report

These reports are mandatory under the Federal Power Act, Sections 3, 4(a), 304 and 309, and 18 CFR 141.1 and 141.400. Failure to report may result in criminal fines, civil penalties and other sanctions as provided by law. The Federal Energy Regulatory Commission does not consider these reports to be of confidential nature
Exact Legal Name of Respondent (Company)

NorthWestern Energy Public Service Corporation
Year/Period of Report

End of:
2024
/
Q1


INSTRUCTIONS FOR FILING FERC FORM NOS. 1 and 3-Q

GENERAL INFORMATION

  1. Purpose

    FERC Form No. 1 (FERC Form 1) is an annual regulatory requirement for Major electric utilities, licensees and others (18 C.F.R. § 141.1). FERC Form No. 3-Q ( FERC Form 3-Q) is a quarterly regulatory requirement which supplements the annual financial reporting requirement (18 C.F.R. § 141.400). These reports are designed to collect financial and operational information from electric utilities, licensees and others subject to the jurisdiction of the Federal Energy Regulatory Commission. These reports are also considered to be non-confidential public use forms.
  2. Who Must Submit

    Each Major electric utility, licensee, or other, as classified in the Commission’s Uniform System of Accounts Prescribed for Public Utilities, Licensees, and Others Subject To the Provisions of The Federal Power Act (18 C.F.R. Part 101), must submit FERC Form 1 (18 C.F.R. § 141.1), and FERC Form 3-Q (18 C.F.R. § 141.400).

    Note: Major means having, in each of the three previous calendar years, sales or transmission service that exceeds one of the following:
    1. one million megawatt hours of total annual sales,
    2. 100 megawatt hours of annual sales for resale,
    3. 500 megawatt hours of annual power exchanges delivered, or
    4. 500 megawatt hours of annual wheeling for others (deliveries plus losses).
  3. What and Where to Submit

    1. Submit FERC Form Nos. 1 and 3-Q electronically through the eCollection portal at https://eCollection.ferc.gov, and according to the specifications in the Form 1 and 3-Q taxonomies.
    2. The Corporate Officer Certification must be submitted electronically as part of the FERC Forms 1 and 3-Q filings.
    3. Submit immediately upon publication, by either eFiling or mail, two (2) copies to the Secretary of the Commission, the latest Annual Report to Stockholders. Unless eFiling the Annual Report to Stockholders, mail the stockholders report to the Secretary of the Commission at:
      Secretary
      Federal Energy Regulatory Commission 888 First Street, NE
      Washington, DC 20426
    4. For the CPA Certification Statement, submit within 30 days after filing the FERC Form 1, a letter or report (not applicable to filers classified as Class C or Class D prior to January 1, 1984). The CPA Certification Statement can be either eFiled or mailed to the Secretary of the Commission at the address above.

      The CPA Certification Statement should:
      1. Attest to the conformity, in all material aspects, of the below listed (schedules and pages) with the Commission's applicable Uniform System of Accounts (including applicable notes relating thereto and the Chief Accountant's published accounting releases), and
      2. Be signed by independent certified public accountants or an independent licensed public accountant certified or licensed by a regulatory authority of a State or other political subdivision of the U. S. (See 18 C.F.R. §§ 41.10-41.12 for specific qualifications.)

        Schedules
        Pages
        Comparative Balance Sheet 110-113
        Statement of Income 114-117
        Statement of Retained Earnings 118-119
        Statement of Cash Flows 120-121
        Notes to Financial Statements 122-123
    5. The following format must be used for the CPA Certification Statement unless unusual circumstances or conditions, explained in the letter or report, demand that it be varied. Insert parenthetical phrases only when exceptions are reported.

      “In connection with our regular examination of the financial statements of [COMPANY NAME] for the year ended on which we have reported separately under date of [DATE], we have also reviewed schedules [NAME OF SCHEDULES] of FERC Form No. 1 for the year filed with the Federal Energy Regulatory Commission, for conformity in all material respects with the requirements of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts and published accounting releases. Our review for this purpose included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.

      Based on our review, in our opinion the accompanying schedules identified in the preceding paragraph (except as noted below) conform in all material respects with the accounting requirements of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts and published accounting releases.” The letter or report must state which, if any, of the pages above do not conform to the Commission’s requirements. Describe the discrepancies that exist.
    6. Filers are encouraged to file their Annual Report to Stockholders, and the CPA Certification Statement using eFiling. Further instructions are found on the Commission’s website at https://www.ferc.gov/ferc-online/ferc-online/frequently-asked-questions-faqs-efilingferc-online.
    7. Federal, State, and Local Governments and other authorized users may obtain additional blank copies of FERC Form 1 and 3-Q free of charge from https://www.ferc.gov/general-information-0/electric-industry-forms.
  4. When to Submit

    FERC Forms 1 and 3-Q must be filed by the following schedule:

    1. FERC Form 1 for each year ending December 31 must be filed by April 18th of the following year (18 CFR § 141.1), and
    2. FERC Form 3-Q for each calendar quarter must be filed within 60 days after the reporting quarter (18 C.F.R. § 141.400).
  5. Where to Send Comments on Public Reporting Burden.

    The public reporting burden for the FERC Form 1 collection of information is estimated to average 1,168 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data-needed, and completing and reviewing the collection of information. The public reporting burden for the FERC Form 3-Q collection of information is estimated to average 168 hours per response.

    Send comments regarding these burden estimates or any aspect of these collections of information, including suggestions for reducing burden, to the Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426 (Attention: Information Clearance Officer); and to the Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, DC 20503 (Attention: Desk Officer for the Federal Energy Regulatory Commission). No person shall be subject to any penalty if any collection of information does not display a valid control number (44 U.S.C. § 3512 (a)).

GENERAL INSTRUCTIONS

  1. Prepare this report in conformity with the Uniform System of Accounts (18 CFR Part 101) (USofA). Interpret all accounting words and phrases in accordance with the USofA.
  2. Enter in whole numbers (dollars or MWH) only, except where otherwise noted. (Enter cents for averages and figures per unit where cents are important. The truncating of cents is allowed except on the four basic financial statements where rounding is required.) The amounts shown on all supporting pages must agree with the amounts entered on the statements that they support. When applying thresholds to determine significance for reporting purposes, use for balance sheet accounts the balances at the end of the current reporting period, and use for statement of income accounts the current year's year to date amounts.
  3. Complete each question fully and accurately, even if it has been answered in a previous report. Enter the word "None" where it truly and completely states the fact.
  4. For any page(s) that is not applicable to the respondent, omit the page(s) and enter "NA," "NONE," or "Not Applicable" in column (d) on the List of Schedules, pages 2 and 3.
  5. Enter the month, day, and year for all dates. Use customary abbreviations. The "Date of Report" included in the header of each page is to be completed only for resubmissions (see VII. below).
  6. Generally, except for certain schedules, all numbers, whether they are expected to be debits or credits, must be reported as positive. Numbers having a sign that is different from the expected sign must be reported by enclosing the numbers in parentheses.
  7. For any resubmissions, please explain the reason for the resubmission in a footnote to the data field.
  8. Do not make references to reports of previous periods/years or to other reports in lieu of required entries, except as specifically authorized.
  9. Wherever (schedule) pages refer to figures from a previous period/year, the figures reported must be based upon those shown by the report of the previous period/year, or an appropriate explanation given as to why the different figures were used.
  10. Schedule specific instructions are found in the applicable taxonomy and on the applicable blank rendered form.
Definitions for statistical classifications used for completing schedules for transmission system reporting are as follows:

FNS - Firm Network Transmission Service for Self. "Firm" means service that can not be interrupted for economic reasons and is intended to remain reliable even under adverse conditions. "Network Service" is Network Transmission Service as described in Order No. 888 and the Open Access Transmission Tariff. "Self" means the respondent.

FNO - Firm Network Service for Others. "Firm" means that service cannot be interrupted for economic reasons and is intended to remain reliable even under adverse conditions. "Network Service" is Network Transmission Service as described in Order No. 888 and the Open Access Transmission Tariff.

LFP - for Long-Term Firm Point-to-Point Transmission Reservations. "Long-Term" means one year or longer and” firm" means that service cannot be interrupted for economic reasons and is intended to remain reliable even under adverse conditions. "Point-to-Point Transmission Reservations" are described in Order No. 888 and the Open Access Transmission Tariff. For all transactions identified as LFP, provide in a footnote the termination date of the contract defined as the earliest date either buyer or seller can unilaterally cancel the contract.

OLF - Other Long-Term Firm Transmission Service. Report service provided under contracts which do not conform to the terms of the Open Access Transmission Tariff. "Long-Term" means one year or longer and “firm” means that service cannot be interrupted for economic reasons and is intended to remain reliable even under adverse conditions. For all transactions identified as OLF, provide in a footnote the termination date of the contract defined as the earliest date either buyer or seller can unilaterally get out of the contract.

SFP - Short-Term Firm Point-to-Point Transmission Reservations. Use this classification for all firm point-to-point transmission reservations, where the duration of each period of reservation is less than one-year.

NF - Non-Firm Transmission Service, where firm means that service cannot be interrupted for economic reasons and is intended to remain reliable even under adverse conditions.

OS - Other Transmission Service. Use this classification only for those services which can not be placed in the above-mentioned classifications, such as all other service regardless of the length of the contract and service FERC Form. Describe the type of service in a footnote for each entry.

AD - Out-of-Period Adjustments. Use this code for any accounting adjustments or "true-ups" for service provided in prior reporting periods. Provide an explanation in a footnote for each adjustment.

DEFINITIONS
  1. Commission Authorization (Comm. Auth.) -- The authorization of the Federal Energy Regulatory Commission, or any other Commission. Name the commission whose authorization was obtained and give date of the authorization.
  2. Respondent -- The person, corporation, licensee, agency, authority, or other Legal entity or instrumentality in whose behalf the report is made.

EXCERPTS FROM THE LAW

Federal Power Act, 16 U.S.C. § 791a-825r

Sec. 3. The words defined in this section shall have the following meanings for purposes of this Act, to with:

  1. ’Corporation' means any corporation, joint-stock company, partnership, association, business trust, organized group of persons, whether incorporated or not, or a receiver or receivers, trustee or trustees of any of the foregoing. It shall not include 'municipalities, as hereinafter defined;
  2. 'Person' means an individual or a corporation;
  3. 'Licensee, means any person, State, or municipality Licensed under the provisions of section 4 of this Act, and any assignee or successor in interest thereof;
  1. 'municipality means a city, county, irrigation district, drainage district, or other political subdivision or agency of a State competent under the Laws thereof to carry and the business of developing, transmitting, unitizing, or distributing power; ......
  1. "project' means. a complete unit of improvement or development, consisting of a power house, all water conduits, all dams and appurtenant works and structures (including navigation structures) which are a part of said unit, and all storage, diverting, or fore bay reservoirs directly connected therewith, the primary line or lines transmitting power there from to the point of junction with the distribution system or with the interconnected primary transmission system, all miscellaneous structures used and useful in connection with said unit or any part thereof, and all water rights, rights-of-way, ditches, dams, reservoirs, Lands, or interest in Lands the use and occupancy of which are necessary or appropriate in the maintenance and operation of such unit;

"Sec. 4. The Commission is hereby authorized and empowered
  1. 'To make investigations and to collect and record data concerning the utilization of the water 'resources of any region to be developed, the water-power industry and its relation to other industries and to interstate or foreign commerce, and concerning the location, capacity, development costs, and relation to markets of power sites; ... to the extent the Commission may deem necessary or useful for the purposes of this Act."

"Sec. 304.
  1. Every Licensee and every public utility shall file with the Commission such annual and other periodic or special* reports as the Commission may by rules and regulations or other prescribe as necessary or appropriate to assist the Commission in the proper administration of this Act. The Commission may prescribe the manner and FERC Form in which such reports shall be made, and require from such persons specific answers to all questions upon which the Commission may need information. The Commission may require that such reports shall include, among other things, full information as to assets and Liabilities, capitalization, net investment, and reduction thereof, gross receipts, interest due and paid, depreciation, and other reserves, cost of project and other facilities, cost of maintenance and operation of the project and other facilities, cost of renewals and replacement of the project works and other facilities, depreciation, generation, transmission, distribution, delivery, use, and sale of electric energy. The Commission may require any such person to make adequate provision for currently determining such costs and other facts. Such reports shall be made under oath unless the Commission otherwise specifies*.10
"Sec. 309.
  1. The Commission shall have power to perform any and all acts, and to prescribe, issue, make, and rescind such orders, rules and regulations as it may find necessary or appropriate to carry out the provisions of this Act. Among other things, such rules and regulations may define accounting, technical, and trade terms used in this Act; and may prescribe the FERC Form or FERC Forms of all statements, declarations, applications, and reports to be filed with the Commission, the information which they shall contain, and the time within which they shall be field..."

GENERAL PENALTIES

The Commission may assess up to $1 million per day per violation of its rules and regulations. See FPA § 316(a) (2005), 16 U.S.C. § 825o(a).


FERC FORM NO.
1/3-Q

REPORT OF MAJOR ELECTRIC UTILITIES, LICENSEES AND OTHER
Identification
01 Exact Legal Name of Respondent

NorthWestern Energy Public Service Corporation
02 Year/ Period of Report


End of:
2024
/
Q1
03 Previous Name and Date of Change (If name changed during year)

/
04 Address of Principal Office at End of Period (Street, City, State, Zip Code)

3010 West 69th Street, Sioux Falls, SD 57108
05 Name of Contact Person

Evan VerWey
06 Title of Contact Person

Manager of Financial Reporting
07 Address of Contact Person (Street, City, State, Zip Code)

3010 West 69th Street, Sioux Falls, SD 57108
08 Telephone of Contact Person, Including Area Code

(605)-978-2906
09 This Report is An Original / A Resubmission

(1)
An Original

(2)
A Resubmission
10 Date of Report (Mo, Da, Yr)

03/31/2024
Quarterly Corporate Officer Certification
The undersigned officer certifies that:

I have examined this report and to the best of my knowledge, information, and belief all statements of fact contained in this report are correct statements of the business affairs of the respondent and the financial statements, and other financial information contained in this report, conform in all material respects to the Uniform System of Accounts.

01 Name

Jeff Berzina
02 Title

Controller
03 Signature

Jeff Berzina
04 Date Signed (Mo, Da, Yr)

05/20/2024
Title 18, U.S.C. 1001 makes it a crime for any person to knowingly and willingly to make to any Agency or Department of the United States any false, fictitious or fraudulent statements as to any matter within its jurisdiction.


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
List of Schedules

Enter in column (c) the terms "none," "not applicable," or "NA," as appropriate, where no information or amounts have been reported for certain pages. Omit pages where the respondents are "none," "not applicable," or "NA".

Line No.
Title of Schedule
(a)
Reference Page No.
(b)
Remarks
(c)
ScheduleIdentificationAbstract
Identification
1
ScheduleListOfSchedulesAbstract
List of Schedules (Electric Utility)
2
1
ScheduleImportantChangesDuringTheQuarterYearAbstract
Important Changes During the Quarter
108
2
ScheduleComparativeBalanceSheetAbstract
Comparative Balance Sheet
110
3
ScheduleStatementOfIncomeAbstract
Statement of Income for the Quarter
114
4
ScheduleRetainedEarningsAbstract
Statement of Retained Earnings for the Quarter
118
5
ScheduleStatementOfCashFlowsAbstract
Statement of Cash Flows
120
6
ScheduleNotesToFinancialStatementsAbstract
Notes to Financial Statements
122
7
ScheduleStatementOfAccumulatedOtherComprehensiveIncomeAndHedgingActivitiesAbstract
Statement of Accum Comp Income, Comp Income, and Hedging Activities
122a
8
ScheduleSummaryOfUtilityPlantAndAccumulatedProvisionsForDepreciationAmortizationAndDepletionAbstract
Summary of Utility Plant & Accumulated Provisions for Dep, Amort & Dep
200
9
ScheduleElectricPlantInServiceAndAccumulatedProvisionForDepreciationByFunctionAbstract
Electric Plant In Service and Accum Provision For Depr by Function
208
10
ScheduleTransmissionServiceAndGenerationInterconnectionStudyCostsAbstract
Transmission Service and Generation Interconnection Study Costs
231
11
ScheduleOtherRegulatoryAssetsAbstract
Other Regulatory Assets
232
12
ScheduleOtherRegulatoryLiabilitiesAbstract
Other Regulatory Liabilities
278
13
ScheduleElectricOperatingRevenuesAbstract
Elec Operating Revenues (Individual Schedule Lines 300-301)
300
14
ScheduleRegionalTransmissionServiceRevenuesAbstract
Regional Transmission Service Revenues (Account 457.1)
302
Not Applicable
15
ScheduleElectricProductionOtherPowerTransmissionRegionalExpensesAbstract
Electric Prod, Other Power Supply Exp, Trans and Distrib Exp
324
16
ScheduleElectricCustomerAccountServiceSalesAdministrativeAndGeneralExpensesAbstract
Electric Customer Accts, Service, Sales, Admin and General Expenses
325
17
ScheduleTransmissionOfElectricityForOthersAbstract
Transmission of Electricity for Others
328
18
ScheduleTransmissionOfElectricityByIsoOrRtoAbstract
Transmission of Electricity by ISO/RTOs
331
Not Applicable
19
ScheduleTransmissionOfElectricityByOthersAbstract
Transmission of Electricity by Others
332
20
ScheduleDepreciationDepletionAndAmortizationsAbstract
Deprec, Depl and Amort of Elec Plant (403,403.1,404,and 405) (except Amortization of Acquisition Adjustments)
338
21
ScheduleAmountsIncludedInIsoOrRtoSettlementAbstract
Amounts Included in ISO/RTO Settlement Statements
397
22
ScheduleMonthlyPeaksAndOutputAbstract
Monthly Peak Loads and Energy Output
399
23
ScheduleMonthlyTransmissionSystemPeakLoadAbstract
Monthly Transmission System Peak Load
400
Not Applicable
24
ScheduleMonthlyIsoOrRtoTransmissionSystemPeakLoadAbstract
Monthly ISO/RTO Transmission System Peak Load
400a


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
IMPORTANT CHANGES DURING THE QUARTER/YEAR

Give particulars (details) concerning the matters indicated below. Make the statements explicit and precise, and number them in accordance with the inquiries. Each inquiry should be answered. Enter "none," "not applicable," or "NA" where applicable. If information which answers an inquiry is given elsewhere in the report, make a reference to the schedule in which it appears.

  1. Changes in and important additions to franchise rights: Describe the actual consideration given therefore and state from whom the franchise rights were acquired. If acquired without the payment of consideration, state that fact.
  2. Acquisition of ownership in other companies by reorganization, merger, or consolidation with other companies: Give names of companies involved, particulars concerning the transactions, name of the Commission authorizing the transaction, and reference to Commission authorization.
  3. Purchase or sale of an operating unit or system: Give a brief description of the property, and of the transactions relating thereto, and reference to Commission authorization, if any was required. Give date journal entries called for by the Uniform System of Accounts were submitted to the Commission.
  4. Important leaseholds (other than leaseholds for natural gas lands) that have been acquired or given, assigned or surrendered: Give effective dates, lengths of terms, names of parties, rents, and other condition. State name of Commission authorizing lease and give reference to such authorization.
  5. Important extension or reduction of transmission or distribution system: State territory added or relinquished and date operations began or ceased and give reference to Commission authorization, if any was required. State also the approximate number of customers added or lost and approximate annual revenues of each class of service. Each natural gas company must also state major new continuing sources of gas made available to it from purchases, development, purchase contract or otherwise, giving location and approximate total gas volumes available, period of contracts, and other parties to any such arrangements, etc.
  6. Obligations incurred as a result of issuance of securities or assumption of liabilities or guarantees including issuance of short-term debt and commercial paper having a maturity of one year or less. Give reference to FERC or State Commission authorization, as appropriate, and the amount of obligation or guarantee.
  7. Changes in articles of incorporation or amendments to charter: Explain the nature and purpose of such changes or amendments.
  8. State the estimated annual effect and nature of any important wage scale changes during the year.
  9. State briefly the status of any materially important legal proceedings pending at the end of the year, and the results of any such proceedings culminated during the year.
  10. Describe briefly any materially important transactions of the respondent not disclosed elsewhere in this report in which an officer, director, security holder reported on Pages 104 or 105 of the Annual Report Form No. 1, voting trustee, associated company or known associate of any of these persons was a party or in which any such person had a material interest.
  11. (Reserved.)
  12. If the important changes during the year relating to the respondent company appearing in the annual report to stockholders are applicable in every respect and furnish the data required by Instructions 1 to 11 above, such notes may be included on this page.
  13. Describe fully any changes in officers, directors, major security holders and voting powers of the respondent that may have occurred during the reporting period.
  14. In the event that the respondent participates in a cash management program(s) and its proprietary capital ratio is less than 30 percent please describe the significant events or transactions causing the proprietary capital ratio to be less than 30 percent, and the extent to which the respondent has amounts loaned or money advanced to its parent, subsidiary, or affiliated companies through a cash management program(s). Additionally, please describe plans, if any to regain at least a 30 percent proprietary ratio.

None

On June 1, 2022, we filed a legal corporate restructuring application (Restructuring Plan) with the state commissions in Montana, South Dakota, and Nebraska and the Federal Energy Regulatory Commission. We received all necessary regulatory approvals to effectuate this Restructuring Plan.
 
On January 1, 2024, we completed the second and final phase of the holding company reorganization. NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, and then distributed its equity interest in NorthWestern Energy Public Service Corporation and certain other subsidiaries to NorthWestern Energy Group, Inc., resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities, each as a direct subsidiary of NorthWestern Energy Group, Inc. 

None

None

None

See Note 3 "Financing Activities." Debt Issuance: Approval by the SDPUC docket GE-002, approval by the NPUC Application NG-121.

None.

None.

See Note 6 "Commitments and Contingencies."

None

None

As noted in Item 2, NorthWestern Energy Public Service Corporation received its assets and liabilities from NorthWestern Corporation on January 1, 2024. As such, this is the first FERC Form 1/3-Q filed by NorthWestern Public Service Corporation. The Officers (including titles) and Directors of NorthWestern Energy Public Service Corporation are as follows:

– Brian Bird, President and Chief Executive Officer;
– Crystal Lail, Vice President, Chief Financial Officer;
– Shannon Heim, Vice Presidnet, General Counsel and Federal Government Affairs;
– Michael Cashell, Vice President, Transmission;
– Cyndee Fang, Vice President, Regulatory Affairs;
– John Hines, Vice President, Supply;
– Bleau Lafave, Vice President, Asset Management & Business Development;
– Jason Merkel, Vice President, Distribution;
– Bobbi Schroeppel, Vice President, Customer Care, Communications, and Human Resources; and
– Jeanne Vold, Vice President, Technology.

N/A


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
COMPARATIVE BALANCE SHEET (ASSETS AND OTHER DEBITS)
Line No.
Title of Account
(a)
Ref. Page No.
(b)
Current Year End of Quarter/Year Balance
(c)
Prior Year End Balance 12/31
(d)
1
UtilityPlantAbstract
UTILITY PLANT
2
UtilityPlant
Utility Plant (101-106, 114)
200
1,491,449,729
3
ConstructionWorkInProgress
Construction Work in Progress (107)
200
24,655,784
4
UtilityPlantAndConstructionWorkInProgress
TOTAL Utility Plant (Enter Total of lines 2 and 3)
1,516,105,513
5
AccumulatedProvisionForDepreciationAmortizationAndDepletionOfPlantUtility
(Less) Accum. Prov. for Depr. Amort. Depl. (108, 110, 111, 115)
200
536,834,018
6
UtilityPlantNet
Net Utility Plant (Enter Total of line 4 less 5)
979,271,495
7
NuclearFuelInProcessOfRefinementConversionEnrichmentAndFabrication
Nuclear Fuel in Process of Ref., Conv., Enrich., and Fab. (120.1)
202
8
NuclearFuelMaterialsAndAssembliesStockAccountMajorOnly
Nuclear Fuel Materials and Assemblies-Stock Account (120.2)
9
NuclearFuelAssembliesInReactorMajorOnly
Nuclear Fuel Assemblies in Reactor (120.3)
10
SpentNuclearFuelMajorOnly
Spent Nuclear Fuel (120.4)
11
NuclearFuelUnderCapitalLeases
Nuclear Fuel Under Capital Leases (120.6)
12
AccumulatedProvisionForAmortizationOfNuclearFuelAssemblies
(Less) Accum. Prov. for Amort. of Nucl. Fuel Assemblies (120.5)
202
13
NuclearFuelNet
Net Nuclear Fuel (Enter Total of lines 7-11 less 12)
14
UtilityPlantAndNuclearFuelNet
Net Utility Plant (Enter Total of lines 6 and 13)
979,271,495
15
OtherElectricPlantAdjustments
Utility Plant Adjustments (116)
93,779,293
16
GasStoredUndergroundNoncurrent
Gas Stored Underground - Noncurrent (117)
17
OtherPropertyAndInvestmentsAbstract
OTHER PROPERTY AND INVESTMENTS
18
NonutilityProperty
Nonutility Property (121)
19
AccumulatedProvisionForDepreciationAndAmortizationOfNonutilityProperty
(Less) Accum. Prov. for Depr. and Amort. (122)
20
InvestmentInAssociatedCompanies
Investments in Associated Companies (123)
21
InvestmentInSubsidiaryCompanies
Investment in Subsidiary Companies (123.1)
224
23
NoncurrentPortionOfAllowances
Noncurrent Portion of Allowances
228
24
OtherInvestments
Other Investments (124)
21,000
25
SinkingFunds
Sinking Funds (125)
26
DepreciationFund
Depreciation Fund (126)
27
AmortizationFundFederal
Amortization Fund - Federal (127)
28
OtherSpecialFunds
Other Special Funds (128)
29
SpecialFunds
Special Funds (Non Major Only) (129)
30
DerivativeInstrumentAssetsLongTerm
Long-Term Portion of Derivative Assets (175)
31
DerivativeInstrumentAssetsHedgesLongTerm
Long-Term Portion of Derivative Assets - Hedges (176)
32
OtherPropertyAndInvestments
TOTAL Other Property and Investments (Lines 18-21 and 23-31)
21,000
33
CurrentAndAccruedAssetsAbstract
CURRENT AND ACCRUED ASSETS
34
CashAndWorkingFunds
Cash and Working Funds (Non-major Only) (130)
35
Cash
Cash (131)
1,227,797
1
36
SpecialDeposits
Special Deposits (132-134)
37
WorkingFunds
Working Fund (135)
5,250
38
TemporaryCashInvestments
Temporary Cash Investments (136)
39
NotesReceivable
Notes Receivable (141)
40
CustomerAccountsReceivable
Customer Accounts Receivable (142)
18,336,419
41
OtherAccountsReceivable
Other Accounts Receivable (143)
957,327
42
AccumulatedProvisionForUncollectibleAccountsCredit
(Less) Accum. Prov. for Uncollectible Acct.-Credit (144)
362,717
43
NotesReceivableFromAssociatedCompanies
Notes Receivable from Associated Companies (145)
44
AccountsReceivableFromAssociatedCompanies
Accounts Receivable from Assoc. Companies (146)
45
FuelStock
Fuel Stock (151)
227
6,680,770
46
FuelStockExpensesUndistributed
Fuel Stock Expenses Undistributed (152)
227
20,164,612
47
Residuals
Residuals (Elec) and Extracted Products (153)
227
48
PlantMaterialsAndOperatingSupplies
Plant Materials and Operating Supplies (154)
227
49
Merchandise
Merchandise (155)
227
50
OtherMaterialsAndSupplies
Other Materials and Supplies (156)
227
51
NuclearMaterialsHeldForSale
Nuclear Materials Held for Sale (157)
202/227
52
AllowanceInventoryAndWithheld
Allowances (158.1 and 158.2)
228
53
NoncurrentPortionOfAllowances
(Less) Noncurrent Portion of Allowances
228
54
StoresExpenseUndistributed
Stores Expense Undistributed (163)
227
119,188
55
GasStoredCurrent
Gas Stored Underground - Current (164.1)
2,791,050
56
LiquefiedNaturalGasStoredAndHeldForProcessing
Liquefied Natural Gas Stored and Held for Processing (164.2-164.3)
57
Prepayments
Prepayments (165)
9,848,032
58
AdvancesForGas
Advances for Gas (166-167)
59
InterestAndDividendsReceivable
Interest and Dividends Receivable (171)
60
RentsReceivable
Rents Receivable (172)
16,801
61
AccruedUtilityRevenues
Accrued Utility Revenues (173)
15,712,287
62
MiscellaneousCurrentAndAccruedAssets
Miscellaneous Current and Accrued Assets (174)
1,553
63
DerivativeInstrumentAssets
Derivative Instrument Assets (175)
64
DerivativeInstrumentAssetsLongTerm
(Less) Long-Term Portion of Derivative Instrument Assets (175)
65
DerivativeInstrumentAssetsHedges
Derivative Instrument Assets - Hedges (176)
66
DerivativeInstrumentAssetsHedgesLongTerm
(Less) Long-Term Portion of Derivative Instrument Assets - Hedges (176)
67
CurrentAndAccruedAssets
Total Current and Accrued Assets (Lines 34 through 66)
75,498,369
68
DeferredDebitsAbstract
DEFERRED DEBITS
69
UnamortizedDebtExpense
Unamortized Debt Expenses (181)
1,643,746
70
ExtraordinaryPropertyLosses
Extraordinary Property Losses (182.1)
230a
71
UnrecoveredPlantAndRegulatoryStudyCosts
Unrecovered Plant and Regulatory Study Costs (182.2)
230b
72
OtherRegulatoryAssets
Other Regulatory Assets (182.3)
232
93,523,389
73
PreliminarySurveyAndInvestigationCharges
Prelim. Survey and Investigation Charges (Electric) (183)
399,264
74
PreliminaryNaturalGasSurveyAndInvestigationChargesAndOtherPreliminarySurveyAndInvestigationCharges
Preliminary Natural Gas Survey and Investigation Charges 183.1)
75
OtherPreliminarySurveyAndInvestigationCharges
Other Preliminary Survey and Investigation Charges (183.2)
76
ClearingAccounts
Clearing Accounts (184)
654,535
77
TemporaryFacilities
Temporary Facilities (185)
78
MiscellaneousDeferredDebits
Miscellaneous Deferred Debits (186)
233
9,428,652
79
DeferredLossesFromDispositionOfUtilityPlant
Def. Losses from Disposition of Utility Plt. (187)
80
ResearchDevelopmentAndDemonstrationExpenditures
Research, Devel. and Demonstration Expend. (188)
352
81
UnamortizedLossOnReacquiredDebt
Unamortized Loss on Reaquired Debt (189)
1,314,503
82
AccumulatedDeferredIncomeTaxes
Accumulated Deferred Income Taxes (190)
234
99,146,098
83
UnrecoveredPurchasedGasCosts
Unrecovered Purchased Gas Costs (191)
4,223,746
84
DeferredDebits
Total Deferred Debits (lines 69 through 83)
210,333,933
85
AssetsAndOtherDebits
TOTAL ASSETS (lines 14-16, 32, 67, and 84)
1,358,904,090


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
COMPARATIVE BALANCE SHEET (LIABILITIES AND OTHER CREDITS)
Line No.
Title of Account
(a)
Ref. Page No.
(b)
Current Year End of Quarter/Year Balance
(c)
Prior Year End Balance 12/31
(d)
1
ProprietaryCapitalAbstract
PROPRIETARY CAPITAL
2
CommonStockIssued
Common Stock Issued (201)
250
1
1
3
PreferredStockIssued
Preferred Stock Issued (204)
250
4
CapitalStockSubscribed
Capital Stock Subscribed (202, 205)
5
StockLiabilityForConversion
Stock Liability for Conversion (203, 206)
6
PremiumOnCapitalStock
Premium on Capital Stock (207)
7
OtherPaidInCapital
Other Paid-In Capital (208-211)
253
580,444,693
8
InstallmentsReceivedOnCapitalStock
Installments Received on Capital Stock (212)
252
9
DiscountOnCapitalStock
(Less) Discount on Capital Stock (213)
254
10
CapitalStockExpense
(Less) Capital Stock Expense (214)
254b
11
RetainedEarnings
Retained Earnings (215, 215.1, 216)
118
8,751,504
12
UnappropriatedUndistributedSubsidiaryEarnings
Unappropriated Undistributed Subsidiary Earnings (216.1)
118
13
ReacquiredCapitalStock
(Less) Reacquired Capital Stock (217)
250
14
NoncorporateProprietorship
Noncorporate Proprietorship (Non-major only) (218)
15
AccumulatedOtherComprehensiveIncome
Accumulated Other Comprehensive Income (219)
122(a)(b)
325,403
16
ProprietaryCapital
Total Proprietary Capital (lines 2 through 15)
589,521,601
17
LongTermDebtAbstract
LONG-TERM DEBT
18
Bonds
Bonds (221)
256
520,000,000
19
ReacquiredBonds
(Less) Reacquired Bonds (222)
256
20
AdvancesFromAssociatedCompanies
Advances from Associated Companies (223)
256
21
OtherLongTermDebt
Other Long-Term Debt (224)
256
11,000,000
22
UnamortizedPremiumOnLongTermDebt
Unamortized Premium on Long-Term Debt (225)
23
UnamortizedDiscountOnLongTermDebtDebit
(Less) Unamortized Discount on Long-Term Debt-Debit (226)
24
LongTermDebt
Total Long-Term Debt (lines 18 through 23)
531,000,000
25
OtherNoncurrentLiabilitiesAbstract
OTHER NONCURRENT LIABILITIES
26
ObligationsUnderCapitalLeaseNoncurrent
Obligations Under Capital Leases - Noncurrent (227)
124,430
27
AccumulatedProvisionForPropertyInsurance
Accumulated Provision for Property Insurance (228.1)
28
AccumulatedProvisionForInjuriesAndDamages
Accumulated Provision for Injuries and Damages (228.2)
489,620
29
AccumulatedProvisionForPensionsAndBenefits
Accumulated Provision for Pensions and Benefits (228.3)
3,377,892
30
AccumulatedMiscellaneousOperatingProvisions
Accumulated Miscellaneous Operating Provisions (228.4)
14,004,509
31
AccumulatedProvisionForRateRefunds
Accumulated Provision for Rate Refunds (229)
32
LongTermPortionOfDerivativeInstrumentLiabilities
Long-Term Portion of Derivative Instrument Liabilities
33
LongTermPortionOfDerivativeInstrumentLiabilitiesHedges
Long-Term Portion of Derivative Instrument Liabilities - Hedges
34
AssetRetirementObligations
Asset Retirement Obligations (230)
6,692,391
35
OtherNoncurrentLiabilities
Total Other Noncurrent Liabilities (lines 26 through 34)
24,688,842
36
CurrentAndAccruedLiabilitiesAbstract
CURRENT AND ACCRUED LIABILITIES
37
NotesPayable
Notes Payable (231)
38
AccountsPayable
Accounts Payable (232)
21,202,580
39
NotesPayableToAssociatedCompanies
Notes Payable to Associated Companies (233)
40
AccountsPayableToAssociatedCompanies
Accounts Payable to Associated Companies (234)
2,422,407
41
CustomerDeposits
Customer Deposits (235)
1,014,358
42
TaxesAccrued
Taxes Accrued (236)
262
7,299,086
43
InterestAccrued
Interest Accrued (237)
6,695,278
44
DividendsDeclared
Dividends Declared (238)
45
MaturedLongTermDebt
Matured Long-Term Debt (239)
46
MaturedInterest
Matured Interest (240)
47
TaxCollectionsPayable
Tax Collections Payable (241)
1,550,841
48
MiscellaneousCurrentAndAccruedLiabilities
Miscellaneous Current and Accrued Liabilities (242)
11,123,888
49
ObligationsUnderCapitalLeasesCurrent
Obligations Under Capital Leases-Current (243)
119,493
50
DerivativesInstrumentLiabilities
Derivative Instrument Liabilities (244)
51
LongTermPortionOfDerivativeInstrumentLiabilities
(Less) Long-Term Portion of Derivative Instrument Liabilities
52
DerivativeInstrumentLiabilitiesHedges
Derivative Instrument Liabilities - Hedges (245)
53
LongTermPortionOfDerivativeInstrumentLiabilitiesHedges
(Less) Long-Term Portion of Derivative Instrument Liabilities-Hedges
54
CurrentAndAccruedLiabilities
Total Current and Accrued Liabilities (lines 37 through 53)
51,427,931
55
DeferredCreditsAbstract
DEFERRED CREDITS
56
CustomerAdvancesForConstruction
Customer Advances for Construction (252)
57
AccumulatedDeferredInvestmentTaxCredits
Accumulated Deferred Investment Tax Credits (255)
266
58
DeferredGainsFromDispositionOfUtilityPlant
Deferred Gains from Disposition of Utility Plant (256)
59
OtherDeferredCredits
Other Deferred Credits (253)
269
6,891,868
60
OtherRegulatoryLiabilities
Other Regulatory Liabilities (254)
278
30,980,693
61
UnamortizedGainOnReacquiredDebt
Unamortized Gain on Reacquired Debt (257)
62
AccumulatedDeferredIncomeTaxesAcceleratedAmortizationProperty
Accum. Deferred Income Taxes-Accel. Amort.(281)
272
63
AccumulatedDeferredIncomeTaxesOtherProperty
Accum. Deferred Income Taxes-Other Property (282)
109,044,583
64
AccumulatedDeferredIncomeTaxesOther
Accum. Deferred Income Taxes-Other (283)
15,348,572
65
DeferredCredits
Total Deferred Credits (lines 56 through 64)
162,265,716
66
LiabilitiesAndOtherCredits
TOTAL LIABILITIES AND STOCKHOLDER EQUITY (lines 16, 24, 35, 54 and 65)
1,358,904,090


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
STATEMENT OF INCOME

Quarterly

  1. Report in column (c) the current year to date balance. Column (c) equals the total of adding the data in column (g) plus the data in column (i) plus the data in column (k). Report in column (d) similar data for the previous year. This information is reported in the annual filing only.
  2. Enter in column (e) the balance for the reporting quarter and in column (f) the balance for the same three month period for the prior year.
  3. Report in column (g) the quarter to date amounts for electric utility function; in column (i) the quarter to date amounts for gas utility, and in column (k) the quarter to date amounts for other utility function for the current year quarter.
  4. Report in column (h) the quarter to date amounts for electric utility function; in column (j) the quarter to date amounts for gas utility, and in column (l) the quarter to date amounts for other utility function for the prior year quarter.
  5. If additional columns are needed, place them in a footnote.

Annual or Quarterly if applicable

  1. Do not report fourth quarter data in columns (e) and (f)
  2. Report amounts for accounts 412 and 413, Revenues and Expenses from Utility Plant Leased to Others, in another utility column in a similar manner to a utility department. Spread the amount(s) over Lines 2 thru 26 as appropriate. Include these amounts in columns (c) and (d) totals.
  3. Report amounts in account 414, Other Utility Operating Income, in the same manner as accounts 412 and 413 above.
  4. Use page 122 for important notes regarding the statement of income for any account thereof.
  5. Give concise explanations concerning unsettled rate proceedings where a contingency exists such that refunds of a material amount may need to be made to the utility's customers or which may result in material refund to the utility with respect to power or gas purchases. State for each year effected the gross revenues or costs to which the contingency relates and the tax effects together with an explanation of the major factors which affect the rights of the utility to retain such revenues or recover amounts paid with respect to power or gas purchases.
  6. Give concise explanations concerning significant amounts of any refunds made or received during the year resulting from settlement of any rate proceeding affecting revenues received or costs incurred for power or gas purchases, and a summary of the adjustments made to balance sheet, income, and expense accounts.
  7. If any notes appearing in the report to stockholders are applicable to the Statement of Income, such notes may be included at page 122.
  8. Enter on page 122 a concise explanation of only those changes in accounting methods made during the year which had an effect on net income, including the basis of allocations and apportionments from those used in the preceding year. Also, give the appropriate dollar effect of such changes.
  9. Explain in a footnote if the previous year's/quarter's figures are different from that reported in prior reports.
  10. If the columns are insufficient for reporting additional utility departments, supply the appropriate account titles report the information in a footnote to this schedule.
Line No.
Title of Account
(a)
(Ref.) Page No.
(b)
Total Current Year to Date Balance for Quarter/Year
(c)
Total Prior Year to Date Balance for Quarter/Year
(d)
Current 3 Months Ended - Quarterly Only - No 4th Quarter
(e)
Prior 3 Months Ended - Quarterly Only - No 4th Quarter
(f)
Electric Utility Current Year to Date (in dollars)
(g)
Electric Utility Previous Year to Date (in dollars)
(h)
Gas Utiity Current Year to Date (in dollars)
(i)
Gas Utility Previous Year to Date (in dollars)
(j)
Other Utility Current Year to Date (in dollars)
(k)
Other Utility Previous Year to Date (in dollars)
(l)
1
UtilityOperatingIncomeAbstract
UTILITY OPERATING INCOME
2
OperatingRevenues
Operating Revenues (400)
300
91,617,616
91,617,616
50,063,671
41,553,945
3
OperatingExpensesAbstract
Operating Expenses
4
OperationExpense
Operation Expenses (401)
320
59,931,606
59,931,606
25,351,033
34,580,573
5
MaintenanceExpense
Maintenance Expenses (402)
320
2,305,491
2,305,491
1,874,552
430,939
6
DepreciationExpense
Depreciation Expense (403)
336
11,598,476
11,598,476
9,838,402
1,760,074
7
DepreciationExpenseForAssetRetirementCosts
Depreciation Expense for Asset Retirement Costs (403.1)
336
8
AmortizationAndDepletionOfUtilityPlant
Amort. & Depl. of Utility Plant (404-405)
336
330,673
330,673
284,602
46,071
9
AmortizationOfElectricPlantAcquisitionAdjustments
Amort. of Utility Plant Acq. Adj. (406)
336
231,999
231,999
231,999
10
AmortizationOfPropertyLossesUnrecoveredPlantAndRegulatoryStudyCosts
Amort. Property Losses, Unrecov Plant and Regulatory Study Costs (407)
11
AmortizationOfConversionExpenses
Amort. of Conversion Expenses (407.2)
12
RegulatoryDebits
Regulatory Debits (407.3)
1,882,256
1,882,256
285,011
1,597,245
13
RegulatoryCredits
(Less) Regulatory Credits (407.4)
1,126,215
1,126,215
470,178
656,037
14
TaxesOtherThanIncomeTaxesUtilityOperatingIncome
Taxes Other Than Income Taxes (408.1)
262
2,179,846
2,179,846
1,567,311
612,535
15
IncomeTaxesOperatingIncome
Income Taxes - Federal (409.1)
262
530,950
530,950
781,414
250,464
16
IncomeTaxesUtilityOperatingIncomeOther
Income Taxes - Other (409.1)
262
17
ProvisionsForDeferredIncomeTaxesUtilityOperatingIncome
Provision for Deferred Income Taxes (410.1)
234, 272
3,372,075
3,372,075
2,428,315
943,760
18
ProvisionForDeferredIncomeTaxesCreditOperatingIncome
(Less) Provision for Deferred Income Taxes-Cr. (411.1)
234, 272
3,531,636
3,531,636
2,402,261
1,129,375
19
InvestmentTaxCreditAdjustments
Investment Tax Credit Adj. - Net (411.4)
266
20
GainsFromDispositionOfPlant
(Less) Gains from Disp. of Utility Plant (411.6)
21
LossesFromDispositionOfServiceCompanyPlant
Losses from Disp. of Utility Plant (411.7)
22
GainsFromDispositionOfAllowances
(Less) Gains from Disposition of Allowances (411.8)
23
LossesFromDispositionOfAllowances
Losses from Disposition of Allowances (411.9)
24
AccretionExpense
Accretion Expense (411.10)
25
UtilityOperatingExpenses
TOTAL Utility Operating Expenses (Enter Total of lines 4 thru 24)
76,643,621
76,643,621
38,207,372
38,436,249
27
NetUtilityOperatingIncome
Net Util Oper Inc (Enter Tot line 2 less 25)
14,973,995
14,973,995
11,856,299
3,117,696
28
OtherIncomeAndDeductionsAbstract
Other Income and Deductions
29
OtherIncomeAbstract
Other Income
30
NonutilityOperatingIncomeAbstract
Nonutilty Operating Income
31
RevenuesFromMerchandisingJobbingAndContractWork
Revenues From Merchandising, Jobbing and Contract Work (415)
32
CostsAndExpensesOfMerchandisingJobbingAndContractWork
(Less) Costs and Exp. of Merchandising, Job. & Contract Work (416)
33
RevenuesFromNonutilityOperations
Revenues From Nonutility Operations (417)
145
145
34
ExpensesOfNonutilityOperations
(Less) Expenses of Nonutility Operations (417.1)
35
NonoperatingRentalIncome
Nonoperating Rental Income (418)
36
EquityInEarningsOfSubsidiaryCompanies
Equity in Earnings of Subsidiary Companies (418.1)
119
37
InterestAndDividendIncome
Interest and Dividend Income (419)
136,787
136,787
38
AllowanceForOtherFundsUsedDuringConstruction
Allowance for Other Funds Used During Construction (419.1)
187,509
187,509
39
MiscellaneousNonoperatingIncome
Miscellaneous Nonoperating Income (421)
15,912
15,912
40
GainOnDispositionOfProperty
Gain on Disposition of Property (421.1)
41
OtherIncome
TOTAL Other Income (Enter Total of lines 31 thru 40)
340,353
340,353
42
OtherIncomeDeductionsAbstract
Other Income Deductions
43
LossOnDispositionOfProperty
Loss on Disposition of Property (421.2)
44
MiscellaneousAmortization
Miscellaneous Amortization (425)
45
Donations
Donations (426.1)
80,451
80,451
46
LifeInsurance
Life Insurance (426.2)
47
Penalties
Penalties (426.3)
48
ExpendituresForCertainCivicPoliticalAndRelatedActivities
Exp. for Certain Civic, Political & Related Activities (426.4)
109,526
109,526
49
OtherDeductions
Other Deductions (426.5)
14,834
14,834
50
OtherIncomeDeductions
TOTAL Other Income Deductions (Total of lines 43 thru 49)
204,811
204,811
51
TaxesApplicableToOtherIncomeAndDeductionsAbstract
Taxes Applic. to Other Income and Deductions
52
TaxesOtherThanIncomeTaxesOtherIncomeAndDeductions
Taxes Other Than Income Taxes (408.2)
262
53
IncomeTaxesFederal
Income Taxes-Federal (409.2)
262
70,076
70,076
54
IncomeTaxesOther
Income Taxes-Other (409.2)
262
55
ProvisionForDeferredIncomeTaxesOtherIncomeAndDeductions
Provision for Deferred Inc. Taxes (410.2)
234, 272
56
ProvisionForDeferredIncomeTaxesCreditOtherIncomeAndDeductions
(Less) Provision for Deferred Income Taxes-Cr. (411.2)
234, 272
57
InvestmentTaxCreditAdjustmentsNonutilityOperations
Investment Tax Credit Adj.-Net (411.5)
58
InvestmentTaxCredits
(Less) Investment Tax Credits (420)
59
TaxesOnOtherIncomeAndDeductions
TOTAL Taxes on Other Income and Deductions (Total of lines 52-58)
70,076
70,076
60
NetOtherIncomeAndDeductions
Net Other Income and Deductions (Total of lines 41, 50, 59)
65,466
65,466
61
InterestChargesAbstract
Interest Charges
62
InterestOnLongTermDebt
Interest on Long-Term Debt (427)
6,061,340
6,061,340
63
AmortizationOfDebtDiscountAndExpense
Amort. of Debt Disc. and Expense (428)
69,429
69,429
64
AmortizationOfLossOnReacquiredDebt
Amortization of Loss on Reaquired Debt (428.1)
173,726
173,726
65
AmortizationOfPremiumOnDebtCredit
(Less) Amort. of Premium on Debt-Credit (429)
66
AmortizationOfGainOnReacquiredDebtCredit
(Less) Amortization of Gain on Reaquired Debt-Credit (429.1)
67
InterestOnDebtToAssociatedCompanies
Interest on Debt to Assoc. Companies (430)
68
OtherInterestExpense
Other Interest Expense (431)
75,356
75,356
69
AllowanceForBorrowedFundsUsedDuringConstructionCredit
(Less) Allowance for Borrowed Funds Used During Construction-Cr. (432)
91,894
91,894
70
NetInterestCharges
Net Interest Charges (Total of lines 62 thru 69)
6,287,957
6,287,957
71
IncomeBeforeExtraordinaryItems
Income Before Extraordinary Items (Total of lines 27, 60 and 70)
8,751,504
8,751,504
72
ExtraordinaryItemsAbstract
Extraordinary Items
73
ExtraordinaryIncome
Extraordinary Income (434)
74
ExtraordinaryDeductions
(Less) Extraordinary Deductions (435)
75
NetExtraordinaryItems
Net Extraordinary Items (Total of line 73 less line 74)
76
IncomeTaxesExtraordinaryItems
Income Taxes-Federal and Other (409.3)
262
77
ExtraordinaryItemsAfterTaxes
Extraordinary Items After Taxes (line 75 less line 76)
78
NetIncomeLoss
Net Income (Total of line 71 and 77)
8,751,504
8,751,504


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report


End of:
2024
/
Q1
STATEMENT OF RETAINED EARNINGS
  1. Do not report Lines 49-53 on the quarterly report.
  2. Report all changes in appropriated retained earnings, unappropriated retained earnings, and unappropriated undistributed subsidiary earnings for the year.
  3. Each credit and debit during the year should be identified as to the retained earnings account in which recorded (Accounts 433, 436-439 inclusive). Show the contra primary account affected in column (b).
  4. State the purpose and amount for each reservation or appropriation of retained earnings.
  5. List first Account 439, Adjustments to Retained Earnings, reflecting adjustments to the opening balance of retained earnings. Follow by credit, then debit items, in that order.
  6. Show dividends for each class and series of capital stock.
  7. Show separately the State and Federal income tax effect of items shown for Account 439, Adjustments to Retained Earnings.
  8. Explain in a footnote the basis for determining the amount reserved or appropriated. If such reservation or appropriation is to be recurrent, state the number and annual amounts to be reserved or appropriated as well as the totals eventually to be accumulated.
  9. If any notes appearing in the report to stockholders are applicable to this statement, attach them at page 122.
Line No.
Item
(a)
Contra Primary Account Affected
(b)
Current Quarter/Year Year to Date Balance
(c)
Previous Quarter/Year Year to Date Balance
(d)
UnappropriatedRetainedEarningsAbstract
UNAPPROPRIATED RETAINED EARNINGS (Account 216)
1
UnappropriatedRetainedEarnings
Balance-Beginning of Period
0
0
2
ChangesAbstract
Changes
3
AdjustmentsToRetainedEarningsAbstract
Adjustments to Retained Earnings (Account 439)
4
AdjustmentsToRetainedEarningsCreditAbstract
Adjustments to Retained Earnings Credit
9
AdjustmentsToRetainedEarningsCredit
TOTAL Credits to Retained Earnings (Acct. 439)
10
AdjustmentsToRetainedEarningsDebitAbstract
Adjustments to Retained Earnings Debit
15
AdjustmentsToRetainedEarningsDebit
TOTAL Debits to Retained Earnings (Acct. 439)
16
BalanceTransferredFromIncome
Balance Transferred from Income (Account 433 less Account 418.1)
8,751,504
0
17
AppropriationsOfRetainedEarningsAbstract
Appropriations of Retained Earnings (Acct. 436)
22
AppropriationsOfRetainedEarnings
TOTAL Appropriations of Retained Earnings (Acct. 436)
23
DividendsDeclaredPreferredStockAbstract
Dividends Declared-Preferred Stock (Account 437)
29
DividendsDeclaredPreferredStock
TOTAL Dividends Declared-Preferred Stock (Acct. 437)
30
DividendsDeclaredCommonStockAbstract
Dividends Declared-Common Stock (Account 438)
36
DividendsDeclaredCommonStock
TOTAL Dividends Declared-Common Stock (Acct. 438)
37
TransfersFromUnappropriatedUndistributedSubsidiaryEarnings
Transfers from Acct 216.1, Unapprop. Undistrib. Subsidiary Earnings
38
UnappropriatedRetainedEarnings
Balance - End of Period (Total 1,9,15,16,22,29,36,37)
8,751,504
0
39
AppropriatedRetainedEarningsAbstract
APPROPRIATED RETAINED EARNINGS (Account 215)
45
AppropriatedRetainedEarnings
TOTAL Appropriated Retained Earnings (Account 215)
AppropriatedRetainedEarningsAmortizationReserveFederalAbstract
APPROP. RETAINED EARNINGS - AMORT. Reserve, Federal (Account 215.1)
46
AppropriatedRetainedEarningsAmortizationReserveFederal
TOTAL Approp. Retained Earnings-Amort. Reserve, Federal (Acct. 215.1)
47
AppropriatedRetainedEarningsIncludingReserveAmortization
TOTAL Approp. Retained Earnings (Acct. 215, 215.1) (Total 45,46)
48
RetainedEarnings
TOTAL Retained Earnings (Acct. 215, 215.1, 216) (Total 38, 47) (216.1)
8,751,504
0
UnappropriatedUndistributedSubsidiaryEarningsAbstract
UNAPPROPRIATED UNDISTRIBUTED SUBSIDIARY EARNINGS (Account Report only on an Annual Basis, no Quarterly)
49
UnappropriatedUndistributedSubsidiaryEarnings
Balance-Beginning of Year (Debit or Credit)
50
EquityInEarningsOfSubsidiaryCompanies
Equity in Earnings for Year (Credit) (Account 418.1)
51
DividendsReceived
(Less) Dividends Received (Debit)
52
ChangesUnappropriatedUndistributedSubsidiaryEarningsCredits
TOTAL other Changes in unappropriated undistributed subsidiary earnings for the year
53
UnappropriatedUndistributedSubsidiaryEarnings
Balance-End of Year (Total lines 49 thru 52)


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
STATEMENT OF CASH FLOWS
  1. Codes to be used:(a) Net Proceeds or Payments;(b)Bonds, debentures and other long-term debt; (c) Include commercial paper; and (d) Identify separately such items as investments, fixed assets, intangibles, etc.
  2. Information about noncash investing and financing activities must be provided in the Notes to the Financial statements. Also provide a reconciliation between "Cash and Cash Equivalents at End of Period" with related amounts on the Balance Sheet.
  3. Operating Activities - Other: Include gains and losses pertaining to operating activities only. Gains and losses pertaining to investing and financing activities should be reported in those activities. Show in the Notes to the Financials the amounts of interest paid (net of amount capitalized) and income taxes paid.
  4. Investing Activities: Include at Other (line 31) net cash outflow to acquire other companies. Provide a reconciliation of assets acquired with liabilities assumed in the Notes to the Financial Statements. Do not include on this statement the dollar amount of leases capitalized per the USofA General Instruction 20; instead provide a reconciliation of the dollar amount of leases capitalized with the plant cost.
Line No.
Description (See Instructions No.1 for explanation of codes)
(a)
Current Year to Date Quarter/Year
(b)
Previous Year to Date Quarter/Year
(c)
1
NetCashFlowFromOperatingActivitiesAbstract
Net Cash Flow from Operating Activities
2
NetIncomeLoss
Net Income (Line 78(c) on page 117)
8,751,504
3
NoncashChargesCreditsToIncomeAbstract
Noncash Charges (Credits) to Income:
4
DepreciationAndDepletion
Depreciation and Depletion
11,598,476
5
NoncashAdjustmentsToCashFlowsFromOperatingActivities
Amortization of (Specify) (footnote details)
5.1
NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription
Amortization of
562,672
5.2
NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription
Other Non-cash charges to net income-net
(a)
455,276
8
DeferredIncomeTaxesNet
Deferred Income Taxes (Net)
159,561
9
InvestmentTaxCreditAdjustmentsNet
Investment Tax Credit Adjustment (Net)
0
10
NetIncreaseDecreaseInReceivablesOperatingActivities
Net (Increase) Decrease in Receivables
6,860,441
11
NetIncreaseDecreaseInInventoryOperatingActivities
Net (Increase) Decrease in Inventory
1,961,204
12
NetIncreaseDecreaseInAllowancesInventoryOperatingActivities
Net (Increase) Decrease in Allowances Inventory
13
NetIncreaseDecreaseInPayablesAndAccruedExpensesOperatingActivities
Net Increase (Decrease) in Payables and Accrued Expenses
9,711,760
14
NetIncreaseDecreaseInOtherRegulatoryAssetsOperatingActivities
Net (Increase) Decrease in Other Regulatory Assets
357,598
15
NetIncreaseDecreaseInOtherRegulatoryLiabilitiesOperatingActivities
Net Increase (Decrease) in Other Regulatory Liabilities
4,579,981
16
AllowanceForOtherFundsUsedDuringConstructionOperatingActivities
(Less) Allowance for Other Funds Used During Construction
187,509
17
UndistributedEarningsFromSubsidiaryCompaniesOperatingActivities
(Less) Undistributed Earnings from Subsidiary Companies
0
18
OtherAdjustmentsToCashFlowsFromOperatingActivities
Other (provide details in footnote):
18.1
OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription
Other
(b)
1,763,728
22
NetCashFlowFromOperatingActivities
Net Cash Provided by (Used in) Operating Activities (Total of Lines 2 thru 21)
17,672,088
24
CashFlowsFromInvestmentActivitiesAbstract
Cash Flows from Investment Activities:
25
ConstructionAndAcquisitionOfPlantIncludingLandAbstract
Construction and Acquisition of Plant (including land):
26
GrossAdditionsToUtilityPlantLessNuclearFuelInvestingActivities
Gross Additions to Utility Plant (less nuclear fuel)
13,184,549
27
GrossAdditionsToNuclearFuelInvestingActivities
Gross Additions to Nuclear Fuel
28
GrossAdditionsToCommonUtilityPlantInvestingActivities
Gross Additions to Common Utility Plant
494,563
29
GrossAdditionsToNonutilityPlantInvestingActivities
Gross Additions to Nonutility Plant
30
AllowanceForOtherFundsUsedDuringConstructionInvestingActivities
(Less) Allowance for Other Funds Used During Construction
187,509
31
OtherConstructionAndAcquisitionOfPlantInvestmentActivities
Other (provide details in footnote):
34
CashOutflowsForPlant
Cash Outflows for Plant (Total of lines 26 thru 33)
13,491,603
36
AcquisitionOfOtherNoncurrentAssets
Acquisition of Other Noncurrent Assets (d)
37
ProceedsFromDisposalOfNoncurrentAssets
Proceeds from Disposal of Noncurrent Assets (d)
39
InvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies
Investments in and Advances to Assoc. and Subsidiary Companies
40
ContributionsAndAdvancesFromAssociatedAndSubsidiaryCompanies
Contributions and Advances from Assoc. and Subsidiary Companies
41
DispositionOfInvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompaniesAbstract
Disposition of Investments in (and Advances to)
42
DispositionOfInvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies
Disposition of Investments in (and Advances to) Associated and Subsidiary Companies
44
PurchaseOfInvestmentSecurities
Purchase of Investment Securities (a)
45
ProceedsFromSalesOfInvestmentSecurities
Proceeds from Sales of Investment Securities (a)
46
LoansMadeOrPurchased
Loans Made or Purchased
47
CollectionsOnLoans
Collections on Loans
49
NetIncreaseDecreaseInReceivablesInvestingActivities
Net (Increase) Decrease in Receivables
50
NetIncreaseDecreaseInInventoryInvestingActivities
Net (Increase) Decrease in Inventory
51
NetIncreaseDecreaseInAllowancesHeldForSpeculationInvestingActivities
Net (Increase) Decrease in Allowances Held for Speculation
52
NetIncreaseDecreaseInPayablesAndAccruedExpensesInvestingActivities
Net Increase (Decrease) in Payables and Accrued Expenses
53
OtherAdjustmentsToCashFlowsFromInvestmentActivities
Other (provide details in footnote):
57
CashFlowsProvidedFromUsedInInvestmentActivities
Net Cash Provided by (Used in) Investing Activities (Total of lines 34 thru 55)
13,491,603
59
CashFlowsFromFinancingActivitiesAbstract
Cash Flows from Financing Activities:
60
ProceedsFromIssuanceAbstract
Proceeds from Issuance of:
61
ProceedsFromIssuanceOfLongTermDebtFinancingActivities
Long-Term Debt (b)
40,000,000
62
ProceedsFromIssuanceOfPreferredStockFinancingActivities
Preferred Stock
63
ProceedsFromIssuanceOfCommonStockFinancingActivities
Common Stock
64
OtherAdjustmentsToCashFlowsFromFinancingActivities
Other (provide details in footnote):
66
NetIncreaseInShortTermDebt
Net Increase in Short-Term Debt (c)
67
OtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities
Other (provide details in footnote):
70
CashProvidedByOutsideSources
Cash Provided by Outside Sources (Total 61 thru 69)
40,000,000
72
PaymentsForRetirementAbstract
Payments for Retirement of:
73
PaymentsForRetirementOfLongTermDebtFinancingActivities
Long-term Debt (b)
74
PaymentsForRetirementOfPreferredStockFinancingActivities
Preferred Stock
75
PaymentsForRetirementOfCommonStockFinancingActivities
Common Stock
76
OtherRetirementsOfBalancesImpactingCashFlowsFromFinancingActivities
Other (provide details in footnote):
76.1
DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities
Debt Financing Costs
200,604
76.2
DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities
Line of Credit (Repayments) Borrowings, Net
43,000,000
76.3
DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities
Distribution of Cash from NorthWestern Corporation
(c)
253,165
78
NetDecreaseInShortTermDebt
Net Decrease in Short-Term Debt (c)
80
DividendsOnPreferredStock
Dividends on Preferred Stock
81
DividendsOnCommonStock
Dividends on Common Stock
83
CashFlowsProvidedFromUsedInFinancingActivities
Net Cash Provided by (Used in) Financing Activities (Total of lines 70 thru 81)
2,947,439
85
NetIncreaseDecreaseInCashAndCashEquivalentsAbstract
Net Increase (Decrease) in Cash and Cash Equivalents
86
NetIncreaseDecreaseInCashAndCashEquivalents
Net Increase (Decrease) in Cash and Cash Equivalents (Total of line 22, 57 and 83)
1,233,046
88
CashAndCashEquivalents
Cash and Cash Equivalents at Beginning of Period
90
CashAndCashEquivalents
Cash and Cash Equivalents at End of Period
1,233,047


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
FOOTNOTE DATA

(a) Concept: NoncashAdjustmentsToCashFlowsFromOperatingActivities
 

3/31/2024

 

3/31/2023

       

Other Noncash Charges to Income, Net:

     

Amortization of debt issue costs, discount, and deferred hedge gain

                                   209,955

 

                                             -

Gain on disposition of assets

                                             -

 

                                             -

Other noncash losses (gains)

                                           (0)

 

                                             -

Stock based compensation costs

                                   245,321

 

                                             -

 

                                   455,276

 

                                             -

 

 

(b) Concept: OtherAdjustmentsToCashFlowsFromOperatingActivities
 

3/31/2024

 

3/31/2023

Other Assets and Liabilities, Net:

     

Net change - other current assets

                                   649,243

 

                                             -

Net change - accrued utility revenues

                                5,303,420

 

                                             -

Net change - deferred debits

                               (4,270,991)

 

                                             -

Net change - deferred credits

                                    57,277

 

                                             -

Net change - noncurrent liabilities

                                    24,779

 

                                             -

 

                                1,763,728

 

                                             -

(c) Concept: OtherRetirementsOfBalancesImpactingCashFlowsFromFinancingActivities
On January 1, 2024, NorthWestern Corporation contributed this amount of cash to NorthWestern Energy Public Service Corporation. On this same day, NorthWestern Corporation contributed the South Dakota and Nebraska non-cash utility assets and liabilities to NorthWestern Energy Public Service Corporation. See the "Holding Company Reorganzation" disclosure within Note 1 - Nature of Operations and Basis of Consolidation within the Notes to the Financial Statements for further information.
(d) Concept: CashAndCashEquivalents
 

3/31/2024

 

12/31/2023

       

Cash (131)

   1,227,797

 

                  1

Working Funds (135)

          5,250

 

                   -

Special Funds (125-128)

                 -

 

                   -

Other Special Deposits (134)

                 -

 

                   -

       

     Total

   1,233,047

 

                  1


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
NOTES TO FINANCIAL STATEMENTS
  1. Use the space below for important notes regarding the Balance Sheet, Statement of Income for the year, Statement of Retained Earnings for the year, and Statement of Cash Flows, or any account thereof. Classify the notes according to each basic statement, providing a subheading for each statement except where a note is applicable to more than one statement.
  2. Furnish particulars (details) as to any significant contingent assets or liabilities existing at end of year, including a brief explanation of any action initiated by the Internal Revenue Service involving possible assessment of additional income taxes of material amount, or of a claim for refund of income taxes of a material amount initiated by the utility. Give also a brief explanation of any dividends in arrears on cumulative preferred stock.
  3. For Account 116, Utility Plant Adjustments, explain the origin of such amount, debits and credits during the year, and plan of disposition contemplated, giving references to Commission orders or other authorizations respecting classification of amounts as plant adjustments and requirements as to disposition thereof.
  4. Where Accounts 189, Unamortized Loss on Reacquired Debt, and 257, Unamortized Gain on Reacquired Debt, are not used, give an explanation, providing the rate treatment given these items. See General Instruction 17 of the Uniform System of Accounts.
  5. Give a concise explanation of any retained earnings restrictions and state the amount of retained earnings affected by such restrictions.
  6. If the notes to financial statements relating to the respondent company appearing in the annual report to the stockholders are applicable and furnish the data required by instructions above and on pages 114-121, such notes may be included herein.
  7. For the 3Q disclosures, respondent must provide in the notes sufficient disclosures so as to make the interim information not misleading. Disclosures which would substantially duplicate the disclosures contained in the most recent FERC Annual Report may be omitted.
  8. For the 3Q disclosures, the disclosures shall be provided where events subsequent to the end of the most recent year have occurred which have a material effect on the respondent. Respondent must include in the notes significant changes since the most recently completed year in such items as: accounting principles and practices; estimates inherent in the preparation of the financial statements; status of long-term contracts; capitalization including significant new borrowings or modifications of existing financing agreements; and changes resulting from business combinations or dispositions. However were material contingencies exist, the disclosure of such matters shall be provided even though a significant change since year end may not have occurred.
  9. Finally, if the notes to the financial statements relating to the respondent appearing in the annual report to the stockholders are applicable and furnish the data required by the above instructions, such notes may be included herein.

NOTES TO FINANCIAL STATEMENTS

 (Unaudited)

(1)  Nature of Operations and Basis of Consolidation

NorthWestern Energy Public Service Corporation (NWE Public Service), doing business as NorthWestern Energy, provides electricity and/or natural gas to approximately 157,700 customers in South Dakota and Nebraska. We have generated and distributed electricity and distributed natural gas in South Dakota and Nebraska since 1923.

The preparation of financial statements in conformity with accounting requirements of the Federal Energy Regulatory Commission (FERC) as set forth in its applicable Uniform System of Accounts requires us to make estimates and assumptions that may affect the reported amounts of assets, liabilities, revenues and expenses during the reporting period. Actual results could differ from those estimates. The unaudited Financial Statements reflect all adjustments (which unless otherwise noted are normal and recurring in nature) that are, in our opinion, necessary to fairly present our financial position, results of operations and cash flows. The actual results for the interim periods are not necessarily indicative of the operating results to be expected for a full year or for other interim periods. Events occurring subsequent to March 31, 2024 have been evaluated as to their potential impact to the Financial Statements through the date of issuance.

The Financial Statements included herein have been prepared by NWE Public Service, without audit, pursuant to the rules and regulations of the FERC as set forth in its applicable Uniform System of Accounts. Certain information and footnote disclosures normally included in financial statements prepared in accordance with the accounting requirements of the FERC as set forth in its applicable Uniform System of Accounts and published accounting releases have been condensed or omitted pursuant to such rules and regulations; however, we believe that the condensed disclosures provided are adequate to make the information presented not misleading.

Financial Statement Presentation

The financial statements are presented on the basis of the accounting requirements of the FERC as set forth in its applicable Uniform System of Accounts and published accounting releases, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America (GAAP). This report differs from GAAP due to FERC requiring the presentation of subsidiaries on the equity method of accounting, which differs from Accounting Standards Codification (ASC) 810, Consolidation. ASC 810 requires that all majority-owned subsidiaries be consolidated (see Note 4). The other significant differences consist of the following:

         Earnings per share and footnotes for revenue from contracts with customers, and segment and related information, are not presented;

         Removal and decommissioning costs of generation, transmission and distribution assets are reflected in the Balance Sheets as a component of accumulated depreciation of $88.5 million as of March 31, 2024 in accordance with regulatory treatment as compared to regulatory liabilities for GAAP purposes;

         Goodwill is reflected in the Balance Sheets as a utility plant adjustments of $93.8 million as of March 31, 2024 in accordance with regulatory treatment, as compared to goodwill for GAAP purposes;

         Operating lease right of use assets are classified in the Balance Sheets as capital leases in accordance with regulatory treatment, as compared to non-current assets for GAAP purposes;

         Operating lease liabilities are reflected as current and long term obligations under capital leases in the Balance Sheets, as compared to accrued expenses and long term liabilities for GAAP purposes;

         Unamortized debt expense is classified in the Balance Sheets as deferred debits in accordance with regulatory treatment, as compared to long-term debt for GAAP purposes;

         Current and long-term debt is classified in the Balance Sheets as all long-term debt in accordance with regulatory treatment, while current and long-term debt are presented separately for GAAP reporting;

         The current portion of the provision for injuries and damages and the expected insurance proceeds receivable related to the provision for injuries and damages are reported as a current liability for GAAP purposes, as compared to a non-current liability for FERC purposes;

         Accumulated deferred tax assets and liabilities are classified in the Balance Sheets as gross non-current deferred debits and credits, respectively, while GAAP presentation reflects a net non-current deferred tax liability;

         Stranded tax effects associated with the Tax Cuts and Jobs Act are included in accumulated other comprehensive income (AOCI) in accordance with regulatory treatment, while included in retained earnings for GAAP purposes;

        Uncertain tax positions related to temporary differences are classified in the Balance Sheets within the deferred tax accounts in accordance with regulatory treatment, as compared to other noncurrent liabilities for GAAP purposes. In addition, interest related to uncertain tax positions is recognized in interest expense in accordance with regulatory treatment, as compared to income tax expense for GAAP purposes;

         Net periodic benefit costs and net periodic postretirement benefit costs are reflected in operating expense for FERC purposes, as compared to the GAAP presentation, which reflects the current service costs component of the net periodic benefit costs in operating expenses and the other components outside of income from operations. In addition, only the service cost component of net periodic benefit cost is eligible for capitalization for GAAP purposes, as compared to the total net periodic benefit costs for FERC purposes;

         Regulatory assets and liabilities are reflected in the Balance Sheets as non-current items, while current and non-current amounts are presented separately for GAAP;

         Unbilled revenue is reflected in the Balance Sheets as Accrued utility revenue in accordance with regulatory treatment, as compared to Accounts receivable, net for GAAP purposes;

         Implementation costs associated with cloud computing arrangements are reflected as Miscellaneous Intangible Plant in accordance with regulatory treatment, as compared to Other current assets for GAAP purposes. Additionally, these cash outflows are presented within investing activities cash outflows in the Statement of Cash Flows in accordance with regulatory treatment, as compared to operating activities cash outflows for GAAP purposes; and

         GAAP revenue differs from FERC revenue primarily due to the equity method of accounting as discussed above, netting of electric purchases and sales for resale in revenue for the GAAP presentation as compared to a gross presentation for FERC purposes (with the exception of those transactions in a regional transmission organization (RTO)), the netting of RTO transmission transactions for the GAAP presentation as compared to a gross presentation for FERC purposes, and the classification of regulatory amortizations in revenue for GAAP purposes as compared to expense for FERC purposes.

 The following table reconciles GAAP revenues to FERC revenues by segment for the three months ended 2024 and 2023 (in millions):

 

Three Months Ended March 31, 2024

 

Total

 

Electric

 

Natural Gas

 

 

 

 

 

 

GAAP Revenues

               $92.6

 

                $48.7

 

                 $43.9

Grossing revenues / power purchases

                    1.7

 

                    1.7

 

                      —

Regulatory amortizations

        (2.7)

 

                 (0.3)

 

                  (2.4)

Other

            0.0

 

                 0.0

 

                    0.0

FERC Revenues

                $91.6

 

                $50.1

 

                $41.5

Holding Company Reorganization

NWE Public Service was incorporated on May 30, 2023, as a direct wholly-owned subsidiary of NorthWestern Corporation (NW Corp) in preparation of a holding company reorganziation. On October 2, 2023, NW Corp and NorthWestern Energy Group, Inc. completed a merger transaction pursuant to which NorthWestern Energy Group, Inc. became the holding company parent of NW Corp. On January 1, 2024, NorthWestern Energy Group, Inc. completed the second and final phase of the holding company reorganization. NW Corp contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NWE Public Service, and then distributed its equity interest in NWE Public Service and certain other subsidiaries to NorthWestern Energy Group, Inc., resulting in NW Corp owning and operating the Montana regulated utility and NWE Public Service owning and operating the Nebraska and South Dakota utilities, each as a direct subsidiary of NorthWestern Energy Group, Inc. This holding company reorganization was approved by the FERC on November 29, 2022, in Docket No. EC22-72-000. As NWE Public Service did not have any utility operations before January 1, 2024, these Financial Statements do not include comparative prior year results. 

The below table represents the net assets that NW Corp contributed to NWE Public Service on January 1, 2024:

   

January 1,

   

2024

ASSETS

 

 

Net Utility Plant

 

 $                  979,240,425

Utility Plant Adjustment - Goodwill (116)

 

          93,779,293

Other Property and Investments

 

                 21,000

Current and Accrued Assets

 

          79,841,412

Deferred Debits

 

        206,538,939

Total assets

 

$              1,359,421,069

     

LIABILITIES

   

Long-Term Debt

 

$                 534,000,000

Other Noncurrent Liabilities

 

          24,674,975

Current and Accrued Liabilities

 

          54,245,980

Deferred Credits

 

        165,975,340

Total liabilities

 

$              778,896,295

     

Net Assets

 

$              580,524,774

(2)  Income Taxes

We compute income tax expense for each quarter based on the estimated annual effective tax rate for the year, adjusted for certain discrete items. Our effective tax rate typically differs from the federal statutory tax rate due to the regulatory impact of flowing through the federal and state tax benefit of repairs deductions, state tax benefit of accelerated tax depreciation deductions (including bonus depreciation when applicable) and production tax credits. The regulatory accounting treatment of these deductions requires immediate income recognition for temporary tax differences of this type, which is referred to as the flow-through method. When the flow-through method of accounting for temporary differences is reflected in regulated revenues, we record deferred income taxes and establish related regulatory assets and liabilities.

The following table summarizes the differences between our effective tax rate and the federal statutory rate (in thousands):

 

 Three Months Ended March 31,

 

2024

Income before income taxes

$  8,132

 

 

 

 

 

 

Income tax calculated at federal statutory rate

                1,708

 

21.0 %

 

 

 

 

Permanent or flow-through adjustments:

 

 

 

Flow-through repairs deductions

 (1,080)

 

  (21.0) 

Production tax credits

            (2,096)

 

(36.7) 

Amortization of excess deferred income tax

 (169) 

 

  (2.1) 

Plant and depreciation flow-through items

 1,075 

 

13.2  

Other, net

(58)

 

(0.7)

 

     (2,328)

 

 (7.3)  

Income tax expense (benefit)

$  (620) 

 

-7.6%

Tax years 2020 and forward remain subject to examination by the Internal Revenue Service and state taxing authorities.

(3) Financing Activities

On March 28, 2024, NWE Public Service issued and sold $33.0 million aggregate principal amount of South Dakota First Mortgage Bonds at a fixed interest rate of 5.55 percent maturing on March 28, 2029 and $7.0 million aggregate principal amount of South Dakota First Mortgage Bonds at a fixed interest rate of 5.75 percent maturing on March 28, 2034. These bonds were issued in transactions exempt from the registration requirements of the Securities Act of 1933. Proceeds were used for general utility purposes. The bonds are secured by NWE Public Service's electric and natural gas assets associated with its South Dakota and Nebraska utility operations.

(4)  Related Party Transactions

Accounts receivable from and payables to associated companies primarily include intercompany billings for direct charges, overhead, and income tax obligations. The following table reflects our accounts receivable from and accounts payable to associated companies (in thousands):

 

March 31, 2024

Accounts Payable to Associated Companies:

 

NorthWestern Corporation (MT)

$2,394

Northwestern Energy Group, Inc.

  17

Northwestern Services Corporation

11

 

$2,422

(5)  Employee Benefit Plans

We sponsor and/or contribute to pension and postretirement health care and life insurance benefit plans for eligible employees. Net periodic benefit cost (credit) for our pension and other postretirement plans consists of the following (in thousands):

 

Pension Benefits

 

Other Postretirement Benefits

 

Three Months Ended March 31,

 

2024

 

2024

Components of Net Periodic Benefit Cost (Credit)

 

 

 

Service cost

$133

 

$15

Interest cost

553

 

27

Expected return on plan assets

(686)

 

Amortization of prior service credit    

 

1

Recognized actuarial (gain) loss

 

 

(12)

Net periodic benefit cost (credit)

$— 

 

$31

 

We did not contribute to our pension plans during the three months ended March 31, 2024. We expect to contribute $1.2 million to our pension plan during the remainder of 2024.

(6)  Commitments and Contingencies

ENVIRONMENTAL LIABILITIES AND REGULATION

Environmental Protection Agency (EPA) Rules

Congress has not passed any federal climate change legislation regarding GHG emissions from coal fired plants, and we cannot predict the timing or form of any potential legislation. Section 111(d) of the Clean Air Act (CAA) confers authority on EPA and the states to regulate emissions, including GHGs, from existing stationary sources. In May 2023, EPA proposed new GHG emissions standards for coal and natural gas-fired plants. In particular, the proposed rules would (i) strengthen the current New Source Performance Standards for newly built fossil fuel-fired stationary combustion turbines (generally natural gas-fired); (ii) establish emission guidelines for states to follow in limiting carbon pollution from existing fossil fuel-fired steam generating electric generating units (including coal, oil and natural gas-fired units); and (iii) establish emission guidelines for large, frequently used existing fossil fuel-fired stationary combustion turbines (generally natural gas-fired). In addition, in April 2023, EPA proposed to amend the MATS. Among other things, MATS currently sets stringent emission limits for acid gases, mercury, and other hazardous air pollutants from new and existing electric generating units. We are in compliance with existing MATS requirements. The proposed amendment of the MATS would strengthen the MATS requirements, and if adopted as written, both the GHG and MATS proposed rules could have a material negative impact on our coal-fired plants, including requiring potentially expensive upgrades or the early retirement of Colstrip Unit's 3 and 4 due to the rules making the facility uneconomic.

On April 25, 2024, the EPA released final rules related to GHG emission standards (GHG Rules) for existing coal-fired facilities and new coal and natural gas-fired facilities as well as final rules strengthening the MATS requirements (MATS Rules). The final MATS and GHG Rules will require compliance as early as 2028 and 2032, respectively. We are evaluating how the final MATS and GHG Rules may impact our coal-fired generation facilities and operations.

Previous efforts by the EPA were met with extensive litigation and we anticipate a similar response to the new GHG Rules and MATS Rules. As the MATS Rules and GHG Rules are implemented, it could result in additional material compliance costs. We will continue working with federal and state regulatory authorities, other utilities, and stakeholders to seek relief from the MATS or GHG regulations that, in our view, disproportionately impact customers in our region.

These GHG Rules and MATS Rules as well as future additional environmental requirements - federal or state - could cause us to incur material costs of compliance, increase our costs of procuring electricity, decrease transmission revenue and impact cost recovery. Technology to efficiently capture, remove and/or sequester such GHG emissions or hazardous air pollutants may not be available within a timeframe consistent with the implementation of any such requirements.

LEGAL PROCEEDINGS

Legal Proceedings

We are subject to various other legal proceedings, governmental audits and claims that arise in the ordinary course of business. In our opinion, the amount of ultimate liability with respect to these other actions will not materially affect our financial position, results of operations, or cash flows.


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
STATEMENTS OF ACCUMULATED COMPREHENSIVE INCOME, COMPREHENSIVE INCOME, AND HEDGING ACTIVITIES
  1. Report in columns (b),(c),(d) and (e) the amounts of accumulated other comprehensive income items, on a net-of-tax basis, where appropriate.
  2. Report in columns (f) and (g) the amounts of other categories of other cash flow hedges.
  3. For each category of hedges that have been accounted for as "fair value hedges", report the accounts affected and the related amounts in a footnote.
  4. Report data on a year-to-date basis.
Line No.
Item
(a)
Unrealized Gains and Losses on Available-For-Sale Securities
(b)
Minimum Pension Liability Adjustment (net amount)
(c)
Foreign Currency Hedges
(d)
Other Adjustments
(e)
Other Cash Flow Hedges Interest Rate Swaps
(f)
Other Cash Flow Hedges [Specify]
(g)
Totals for each category of items recorded in Account 219
(h)
Net Income (Carried Forward from Page 116, Line 78)
(i)
Total Comprehensive Income
(j)
1
Balance of Account 219 at Beginning of Preceding Year
2
Preceding Quarter/Year to Date Reclassifications from Account 219 to Net Income
3
Preceding Quarter/Year to Date Changes in Fair Value
4
Total (lines 2 and 3)
5
Balance of Account 219 at End of Preceding Quarter/Year
6
Balance of Account 219 at Beginning of Current Year
7
Current Quarter/Year to Date Reclassifications from Account 219 to Net Income
325,403
325,403
8
Current Quarter/Year to Date Changes in Fair Value
9
Total (lines 7 and 8)
325,403
325,403
8,751,504
9,076,907
10
Balance of Account 219 at End of Current Quarter/Year
325,403
325,403


Name of Respondent:

NorthWestern Energy Public Service Corporation
This report is:

(1)
An Original

(2)
A Resubmission
Date of Report:

03/31/2024
Year/Period of Report

End of:
2024
/
Q1
SUMMARY OF UTILITY PLANT AND ACCUMULATED PROVISIONS FOR DEPRECIATION. AMORTIZATION AND DEPLETION

Report in Column (c) the amount for electric function, in column (d) the amount for gas function, in column (e), (f), and (g) report other (specify) and in column (h) common function.

Line No.
Classification
(a)
Total Company For the Current Year/Quarter Ended
(b)
Electric
(c)
Gas
(d)
Other (Specify)
(e)
Other (Specify)
(f)
Other (Specify)
(g)
Common
(h)
1
UtilityPlantAbstract
UTILITY PLANT
2
UtilityPlantInServiceAbstract
In Service
3
UtilityPlantInServiceClassified
Plant in Service (Classified)
1,461,195,964
1,123,079,231
266,547,213
71,569,520
4
UtilityPlantInServicePropertyUnderCapitalLeases
Property Under Capital Leases