Annual Report
Table of Contents

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

 

FORM U5S

 

ANNUAL REPORT

 

For the Fiscal Year Ended March 31, 2004

 

Filed pursuant to the Public Utility Holding Company Act of 1935

 

by

 

Scottish Power plc

 

1 Atlantic Quay

Glasgow G2 8SP

Scotland UK

 

Table of Contents

Scottish Power plc

FORM U5S

2004

 

TABLE OF CONTENTS

 

ITEM
         PAGE
NUMBER
1    System Companies and Investments Therein as of March 31, 2004    3
2.    Acquisitions or Sales of Utility Assets    21
3.    Issue, Sale, Pledge, Guarantee or Assumptions of System Securities    21
4.    Acquisition, Redemption or Retirement of System Securities    21
5.    Investments in Securities of Nonsystem Companies    21
6.    Officers and Directors    22
7.    Contributions and Public Relations    76
8.    Service, Sales and Construction Contracts    78
9.    Wholesale Generators and Foreign Utility Companies    83
10.    Financial Statements and Exhibits    87

 

2

Table of Contents

ITEMS

 

ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF March 31, 2004.

 

Name of Company

        

Percentage of

Voting Power

(100%
unless

otherwise noted)

   

Type of Business/

Description of Business

    Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

   

Owner’s

Book Value

$ 000s

Scottish Power Finance (Jersey) Limited    10 Founder Shares         FE    10    #    #
Scottish Power plc              HC               

SP Finance * (FN 1)

    Ordinary £0.01
Shares
Unsecured Int. Debt
BR + 1% No
Arrears		         FE    10,025    #    #
1,206,788

SP Finance 2 Limited * (FN 2)

    Ordinary £1 Shares         FE    10,750    20    1,378,518

PacifiCorp UK Limited * (FN 3)

    A-F Nonvoting
Shares		         FE    1,250,000    163,865    2,376,250
     Voting Share              1    #    #

ScottishPower Overseas

Holdings Limited

    Ordinary £1 Shares
Unsecured Int. Debt
BR + 1% No
Arrears		         FE    100    #    13,579
19,687

PacifiCorp Energy Canada Ltd.

    Class A Voting
Shares		         Gas Storage    17,000    37,205    13,579

SP Finance 4 Limited * (FN 4)

    Ordinary £1 Shares         FE    10,000    18    18

SP Finance 5 Limited * (FN 5)

    Ordinary £1 Shares         FE    10,000    18    18

Venus 5 Limited * (FN 6)

    Ordinary £1 Shares         FE    10,000    18    18

Scottish Power UK Holdings Limited (FN 7)

    Ordinary Shares
£0.5
Unsecured Int. Debt
BR + 1% No
Arrears		         FUCO    1,183,983,102    1,088,081    1,094,897
85,358

 

3

Table of Contents

Name of Company

         Percentage of
Voting Power
(100% unless
otherwise
noted)
    

Type of Business/

Description of Business

   Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

    

Owner’s

Book Value

$ 000s

  

ScottishPower Energy

Management (Agency) Limited

    Ordinary £1 Shares          FRB   4,000,001    7,352     7,352  

ScottishPower Energy

Management Limited

    Ordinary £1 Shares          FRB   50,000,000    91,900     91,900  

Holford Gas Storage Ltd

    Ordinary £1 Shares          Gas
Storage		   1    #     #  

Scottish Power UK plc

(SPUK)

    Ordinary Shares £0.5
Unsecured Ex. Debt
– AIR 6.8% No
Arrears		          FUCO   1,183,983,102    1,088,081     1,088,285
3,438,000		  
 

Aspen 1 Limited *

    Ordinary £1 Shares          FRB   1    #     #  

Caledonian Gas Limited *

    Ordinary £1 Shares          FRB   250,000    460     460  

ScottishPower Group

Money Purchase

Pension Scheme Limited

    Ordinary £1 Shares          FRB   100    N/A     N/A  

ScottishPower Inc. *

    Common Stock          FRB   100    #     #  

Manweb Limited *

    Ordinary £1 Shares          FRB   1    #     #  

RoboScot (38) Limited *

    B Ordinary £1
Shares		    50     FRB   7,999,999    14,704     9,925  
     C Ordinary £1
Shares		    # #   ##   1    # #   # #

SaBRe Water Limited *

    Ordinary £1 Shares          FRB   2    #     #  

 

4

Table of Contents

Name of Company

         Percentage of
Voting Power
(100% unless
otherwise
noted)
   

Type of Business/

Description of Business

   

Number of

Common
Shares Owned

   

Issuer

Book
Value

$ 000s

   

Owner’s

Book
Value

$ 000s

Scottish Power Trustees Limited *

    Ordinary £1 Shares         FRB    2    #    #

Scottish Utility Services Limited *

    Ordinary £1 Shares         FRB    2    #    #

Camjar plc *

    Ordinary £1 Shares         FRB    284,060    522    9,414

Spotlight Trading Limited *

    Ordinary £1 Shares         FRB    2    #    #

Telephone Information Services plc *

    Ordinary £1 Shares         FRB    350,000    643    #

ScottishPower Energy Retail Limited

    Ordinary £1 Shares         FRB    55,407,000    101,838    728,374

Gemserv Ltd

    Ordinary £1 Shares    13.38    FE    30,803    33    57

Manweb Energy Consultants Limited *

    Ordinary £1 Shares         FRB    75,000    138    138

N.E.S.T.MAKERS Limited

    Ordinary £1 Shares    50    FRB    22,500    42    42

ScottishPower

Generation Limited

    Ordinary £1 Shares
Unsecured Int. Debt
BR + 1% No
Arrears		         FRB    130,700,000    240,227    240,227
784,077

Beaufort Energy Limited

    Ordinary £1 Shares         FRB    2    #    #

CRE Energy Limited

    Ordinary £1 Shares         FRB    2    #    #

Wind Resources Limited

    B Ordinary £1
Shares		    45    FRB    1,738,419    3,195    3,195

Carland Cross Limited

    Ordinary £1 Shares         FRB    1,433,155    2,634    2,634

 

5

Table of Contents

Name of Company

         Percentage of
Voting Power
(100% unless
otherwise
noted)
   

Type of Business/

Description of
Business

    Number of
Common Shares
Owned
   

Issuer Book
Value

$ 000s

   

Owner’s

Book Value

$ 000s

Coal Clough Limited

    Ordinary £1 Shares         FRB    2,420,002    4,448    4,448

CeltPower Limited

    B Ordinary £1
Shares		    50    FRB    500    2    53

Emerald Power Generation Limited

    Ordinary £1 Shares         FRB    1    #    26

Manweb Generation Holdings Limited

    Ordinary £1 Shares         FRB    2,100,000    3,860    3,860

Manweb Generation (Winnington) Limited *

    Ordinary £1 Shares         FRB    1    #    #

Winnington Combined Heat and Power Ltd.

    Ordinary £1 Shares    33.33    FRB    1    #    #

Winnington Combined Heat and Power Developments Limited *

    Ordinary £1 Shares    33.33    FRB    1    #    #

Winnington Combined Heat and Power Operations Limited *

    Ordinary £1 Shares    33.33    FRB    1    #    #

Scotash Limited

    B Ordinary £1
Shares		    50    FRB    500    2    6,251

Shoreham Operations Company Limited

    B Ordinary £1
Shares		    50    FRB    1    #    #

SMW Limited

    Ordinary £1 Shares         FRB    2    #    #

South Coast Power Limited

    B Ordinary £1
Shares		    50    FRB    1,900,001    3,492    3,492

 

6

Table of Contents

Name of Company

        Percentage of
Voting Power
(100% unless
otherwise
noted)
   

Type of Business/

Description of
Business

    Number of
Common Shares
Owned
   

Issuer Book
Value

$ 000s

   

Owner’s Book
Value

$ 000s

ScottishPower Share Scheme Trustees Limited

    Ordinary £1 Shares        FRB    2    #    #

ScottishPower Sharesave Trustees Limited

    Ordinary £1 Shares        FRB    2    #    #

Selectusonline Limited

    A Ordinary £1
Shares		   25    FRB    25    #    #

SP Dataserve Limited

    Ordinary £1 Shares        FRB    17,608,000    32,364    32,364

SP Distribution Limited

    Ordinary £1 Shares
Unsecured Ex. Debt
AIR 5.6% No
Arrears
Unsecured Int. Debt
BR + 1% No Arrears		        FRB    109,600,000    201,445    201,445
156,800

 

678,651

Scottish Electricity Settlements Limited

    Ordinary £1 Shares   50    FRB    1    #    #

SP Gas Limited

    Ordinary £1 Shares        FRB    2    #    #

SP Power Systems Limited

    Ordinary £1 Shares
Unsecured Int. Debt
BR + 1% No
Arrears		        FRB
.		    11,247,000    20,672    20,672
17,478

Core Utility Solutions Limited

    A Ordinary £1
Shares		   50    FRB    1,000,000    1,838    1,838

SP Transmission Limited

    Ordinary £1 Shares
Unsecured Ex. Debt
AIR 6.3% No
Arrears
Unsecured Int. Debt
Base Rate + 1%		        FRB    9,000,000    16,542    16,542
79,100

 

241,492

GBSO Limited * (FN 8)

    Ordinary £1 Shares        FRB    1    #    #

Teledata (Holdings) Limited *

    Ordinary £1 Shares
Unsecured Int. Debt
BR + 1% No
Arrears		        FRB    30,000    55    19,979
948

 

7

Table of Contents

Name of Company

        Percentage of
Voting Power
(100% unless
otherwise
noted)
   

Type of
Business/

Description
of Business

    Number of
Common
Shares Owned
   

Issuer Book
Value

$ 000s

   

Owner’s

Book Value

$ 000s

Teledata (Outsourcing) Limited *

    Ordinary £1 Shares        FRB    100    #    #

The CallCentre Service Limited *

    Ordinary £.50
Shares		        FRB    4,464,036    4,102    888

Teledata Scotland Limited *

    Ordinary £1 Shares        FRB    2    #    #

The Information Service Limited *

    Ordinary £1 Shares        FRB    4,073,100    7,486    2,832

Clubcall Telephone Services Limited *

    Ordinary £1 Shares        FRB    2,067,702    3,801    3,490

Clubline Services Limited *

    Ordinary £1 Shares        FRB    2    #    #

Telephone International Media Holdings Limited *

    Ordinary £1 Shares        FRB    106,250    1,195    #

Copperteam Limited *

    Ordinary £1 Shares        FRB    2    #    #

Telephone International Media Limited *

    Ordinary £1 Shares        FRB    650,000    1,040    1,040

TIM Limited *

    Ordinary £1 Shares        FRB    2    #    #

ScottishPower Investments Limited

    Ordinary £1 Shares
Unsecured Int. Debt
BR + 1% No
Arrears		        FRB    100,000,000    183,800    183,800
1,352,141

Caledonian Communications Limited *

    Ordinary £1 Shares
Unsecured Int. Debt
BR + 1% No
Arrears		        FRB    2    #    #
5,820

 

8

Table of Contents

Name of Company

         Percentage of
Voting Power
(100% unless
otherwise
noted)
   

Type of Business/

Description of Business

    Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

   

Owner’s

Book Value

$ 000s

Genscot Limited

    Ordinary £1 Shares         FRB    100,00    184    184

Manweb Holdings

Limited *

    Ordinary £1 Shares         FRB    12,500,000    22,975    22,975

Manweb

Contracting

Services Limited *

    Ordinary £1 Shares         FRB    1,000,000    1,838    1,838

Manweb Gas

Limited *

    Ordinary £1 Shares         FRB    150,000    276    276

Manweb Pensions

Trustee Limited *

    Ordinary £1 Shares         FRB    2    #    #

Mawlaw 526 Limited *

    Ordinary £1 Shares         FRB    1    #    #

SSEB Limited *

    Ordinary £1 Shares         FRB    2    #    #

ScotPower Limited *

    Ordinary £1 Shares         FRB    2    #    #

Scotsgrid Limited *

    Ordinary £1 Shares         FRB    2    #    #

ScottishPower

Finance Limited *

    Ordinary £1 Shares         FRB    2    #    #

Scotspower Limited *

    Ordinary £1 Shares         FRB    2    #    #

ScottishPower

Insurance Limited

    Ordinary £1 Shares         FRB    9,750,000    17,921    26,651

ScottishPower

Leasing Limited

    Ordinary £1 Shares         FRB    2    #    #

ScottishPower

Securities Limited *

    Ordinary £1 Shares         FRB    2    #    #

 

9

Table of Contents

Name of Company

         Percentage of
Voting Power
(100% unless
otherwise
noted)
   

Type of Business/

Description of Business

    Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

   

Owner’s

Book Value

$ 000s

ScottishPower

Telecommunications

Limited *

    Ordinary £1 Shares         FRB    15,000,000    27,570    27,570

Demon Internet

Limited *

    Ordinary £1 Shares         FRB    1,533,330    281    124,249

Cityscape Global

Media Limited *

    Ordinary £1 Shares         FRB    2    #    #

Cityscape

Internet Services

Limited *

    Ordinary £1 Shares         FRB    1,000    2    #

Cityscape

Limited *

    Ordinary £1 Shares         FRB    2    #    #

Demon Limited *

    Ordinary £1 Shares         FRB    2    #    #

Dispatch

Publishing

Limited *

    Ordinary £1 Shares         FRB    100    #    162

Locomotive

Software Group

Limited *

    Ordinary £1 Shares         FRB    200    #    #

Locomotive

Software

Developments

Limited *

    Ordinary £1 Shares         FRB    100    #    #

Turnpike

1996 Limited*

    Ordinary £1 Shares         FRB    100    #    #

Turnpike

Limited *

    Ordinary £1 Shares         FRB    100    #    #

The IP Systems

Operation

Limited *

    Ordinary £1 Shares         FRB    2    #    #

Lancastrian

Holdings Limited *

    Ordinary £1 Shares         FRB    220,022    404    10,881

Megafone (UK)

Limited *

    Ordinary £1 Shares         FRB    2    #    #

 

10

Table of Contents

Name of Company

        Percentage of
Voting Power
(100% unless
otherwise
noted)
   

Type of Business/

Description of Business

    Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

   

Owner’s

Book Value

$ 000s

Psychic

Companions

Limited *

    Ordinary £1 Shares        FRB    2    #    #

SPPT Limited *

    Ordinary £1 Shares        FRB    2    #    #

Watermark Games

Limited *

    Ordinary £0.01
Shares		        FRB    3,024,249    55    5,679

SP Manweb plc

    Ordinary £0.50
Shares
Unsecured Ex Debt
AIR 5.8% No
Arrears		        FUCO    108,458,370    99,673    1,018,252
79,100

Manweb Nominees

Limited *

    Ordinary £1 Shares        FRB    100    #    #

Manweb Services

Limited *

    Ordinary £1 Shares        FRB    75,000    138    138

Manweb Share

Scheme Trustees

Limited *

    Ordinary £1 Shares        FRB    2    #    #

St Clements Services

Ltd

    Ordinary £1 Shares   13    FRB    5    #    #

Electralink Ltd

    Ordinary £0.10
Shares		   13    FRB    1336    1,838    1,838

Name of Company

        Percentage of
Voting Power
(100% unless
otherwise
noted)
    Type of Business
    Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

   

Owner’s

Book Value

$ 000s

ScottishPower NA 1 Limited

    Ordinary £1 Shares
Unsecured     Int.
Debt
BR + 1% No
Arrears		        HC    158,499,452    291,321    480,734
15,858

 

11

Table of Contents

Name of Company

        Percentage of
Voting
Power (100%
unless
otherwise
noted)
  

Type of Business

    Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

   

Owner’s

Book Value

$ 000s

ScottishPower NA 2 Limited

    Ordinary £1 Shares
Unsecured Int. Debt
BR + 1% No Arrears		       HC    1,426,495,072    2,621,898    4,326,619
142,729

PacifiCorp Holdings, Inc. (PHI)

    Common      

HC

I

    10,000    4,548,909    4,548,909

Pacific Klamath Energy, Inc.

    Common       SPS    50    7,870    7,870

PacifiCorp (FN 9)

    Common, No Par
Secured Debt
AIR 6.6 % No
Arrears
Unsecured Ex. Debt
AIR 2.0 % No
Arrears
Pref (mult Series)		       Public Utility    312,176,089

 

1,014,633

    3,282,288    3,282,288

 

2,996,763

 

400,470

 

100,730

Centralia Mining Co.

    Common, No Par       Coal Mining Business    100    1    1

Energy West Mining Company

    Common, No Par       Coal Mining Business    100    1    1

Glenrock Coal Co.

    Common, No Par       Coal Mining Business    100    .001    .001

Interwest Mining Co.

    Common, No Par       Coal Mining Business    100    1    1

Pacific Minerals, Inc.

    Common, No Par       Coal Mining Business    500    53,029    53,029

Bridger Coal Co. (FN 10)

    Joint Venture Interest   66.67   Coal Mining Business         N/A    N/A

PacifiCorp Environmental Remediation Co. (FN 11)

    Common, No Par   89.90   Rain Forest Carbon    8,900    5,591    5,591

PacifiCorp Future Generations, Inc.

    Common       SPS-Rain Forest Carbon    10    -4    -4

Canopy Botanicals, Inc. (Delaware) (77.85%) (FN 12)

    Common   77.85   Rain Forest Carbon    25,102    -3    -3

 

12

Table of Contents

Name of Company

        Percentage of
Voting
Power (100%
unless
otherwise
noted)
   

Type of Business

    Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

   

Owner’s

Book Value

$ 000s

Canopy Botanicals, S.R.L. (49%) (FN 13)

    Member Interest   49    Rain Forest Carbon    N/A    N/A    N/A

PacifiCorp Investment Management, Inc.

    Common, No Par        Non-utility Holding Company    100    0    0

PacifiCorp Group Holdings Co.

    Common
Unsecured Debt-
$960,750.72
Int. Rate –
 1.9725%		       

Non-utility Holding Company

    100    328,984    328,984

New Energy Holdings I, Inc. *

    Common, No Par        FRB    100    0    0

EnergyWorks Holdings I *

    Common        FRB    2    0    0

New IndiaPower Company One *

    Common        FRB    50    N/A    N/A

New IndiaPower Company Two *

    Common        FRB    1    N/A    N/A

PacifiCorp Trans, Inc. *

    Common        Corporate Aircraft Scheduling    100    111    111

PACE Group, Inc.

    Common, No Par        SPS    100    1,684    1,684

Pacific Kinston Energy, Inc. *

    Common        Power Management    10    0    0

PacifiCorp Development Company *

    Common, No Par        SPS    10    0    0

PacifiCorp Generation International, BV

    1,000 NLG        SPS    40    0    0

Pacific Bakun Energy BV

    NLG        SPS         0    0

PacifiCorp Energy Services, Inc.

    Common, No Par        SPS    10    0    0

PacifiCorp Energy Ventures, Inc.

    Common, No Par        SPS    10    0    0

Nth Power Management, L.P. (FN 14)

    Limited Partnership
Interest		   18.8    Energy-related    N/A    0    0

 

13

Table of Contents

Name of Company

         Percentage of
Voting
Power (100%
unless
otherwise
noted)
   

Type of Business

    Number of
Common Shares
Owned
   

Issuer

Book Value

$ 000s

   

Owner’s

Book Value

$ 000s

PacifiCorp Financial Services, Inc.

    Common         SPS Non-utility Holding Company    179,005    59,199    59,199

Birmingham Syn Fuel I, Inc. *

    Common         Synthetic Fuel Company    100    28,843    28,843

CS Holdings, Inc.*

    Common, No Par         Leverage Leasing Activity    1,000    -6,076    -6,076

Koala FSC, Ltd. *

    Common         Leverage Leasing Activity    1,200    -29,089    -29,089

Leblon Sales Corporation

    Common, No Par         Leverage Leasing Activity    1,000    -39,096    -39,096

Pacific Development (Property), Inc.

    Common, No Par         SPS    1    -3,325    -3,325

Pacific Harbor Capital, Inc.

    Common         Leverage Leasing Activity    407    28,598    28,598

PFI International, Inc.*

    Common         Leverage Leasing Activity    1,000    1    1

PHC Properties Corporation

    Common         SPS    100    13    13

PCC Holdings, Inc.

    Common
Preferred		         HC    1
0		    -9,033    -9,033

Hillsborough Leasing Services, Inc. *

    Common         SPS    1    0    0

PNF Holdings, Inc. *

    Common, No Par         SPS    100    795    795

VCI Acquisition Co.*

    Common
Preferred		         SPS    100
0		    0    0

 

14

Table of Contents

Name of Company

         Percentage of
Voting
Power
(100% unless
otherwise
noted)
    Type of Business
    Number
of
Common
Shares
Owned
   

Issuer

Book
Value

$ 000s

   

Owner’s

Book
Value

$ 000s

PacifiCorp International Group Holdings Company

    Common, No Par         FRB    100    0    0

PacifiCorp Hazelwood Pty. Ltd. *

    Member Interest         FRB    100    0    0

Hazelwood Australia, Inc. *

    Common         FRB    100    0    0

Hazelwood Ventures, Inc. *

    Common         FRB    100    0    0

Hazelwood Finance LP (12.55%) (FN 15) *

    Limited
Partnership
Interest		    12.55    FRB    N/A    0    0

Name of Company

         Percentage of
Voting
Power
(100% unless
otherwise
noted)
    Type of Business
    Number
of
Common
Shares
Owned
   

Issuer

Book
Value

$ 000s

   

Owner’s

Book
Value

$ 000s

PPM ENERGY, INC.

    Common, No Par         Non-utility Holding
Company		    100    152,622    152,622

Phoenix Wind Power LLC

    LLC Interest         EWG    N/A    165    165

Klamath Energy, LLC

    LLC Interest         EWG    N/A    -952    -952

Klamath Generation, LLC

    LLC Interest         SPS    N/A    -8.0    -8.0

West Valley Leasing Company LLC

    LLC Interest         Non-utility Generation
Company		    N/A    19,965    19,965

Klondike Wind Power LLC

    LLC Interest         EWG    N/A    637    637

Moraine Wind LLC

    LLC Interest         EWG    N/A    1,112    1,112

Moraine Wind II LLC *

    LLC Interest         SPS/FE    N/A    #    #

Heartland Wind LLC *

    LLC Interest         SPS    N/A    #    #

Flying Cloud Power Partners, LLC (FN 16)

    LLC Interest         EWG    N/A    844    844

 

15

Table of Contents

Name of Company

         Percentage of
Voting
Power
(100% unless
otherwise
noted)
    Type of Business
    Number
of
Common
Shares
Owned
   

Issuer

Book
Value

$ 000s

   

Owner’s

Book
Value

$ 000s

Pacific Wind Development LLC

    LLC Interest         SPS    N/A    -5.4    -5.4

Arlington Wind LLC (FN 17)

    LLC Interest         SPS/FE    N/A    -30.4    -30.4

PPM Alta Mesa LLC (FN 18)

    LLC Interest         EWG    N/A    #    #

Mountain View Power Partners III LLC

    LLC Interest         EWG    N/A    91.4    91.4

Ivanhoe Wind Energy LLC *

    LLC Interest         EWG    N/A    #    #

Trimont Wind I LLC *

    LLC Interest         SPS    N/A    #    #

Mountain View Green LLC *

    LLC Interest         EWG    N/A    #    #

PPM Colorado Wind Ventures Inc (FN 19)

    LLC Interest         SPS    100    41.9    41.9

Colorado Wind Ventures LLC

    LLC Interest    50    HC    N/A    41.9    41.9

Colorado Green Holdings LLC

    LLC Interest         EWG    N/A    78.5    39.3

Enstor, Inc.

    Common         Energy Related
Holding Company		    1,000    14,319.8    14,319.8

Katy Storage & Transportation, LP

    Limited Partnership
Interest		    99    Gas Storage    N/A    14,087    13,946

Waha Storage & Transportation LP

    Limited Partnership
Interest		    99    Gas Storage    N/A    #    #

City Gate LLC

    LLC Interest         Gas Storage    N/A    -7.9    -7.9

Columbia Gas Storage LLC

    LLC Interest         Gas Storage    N/A    -44.5    -44.5

Delta Gas Storage LLC

    LLC Interest         Gas Storage    N/A    -2.8    -2.8

Enstor Louisiana LLC (FN 20)

    LLC Interest         Gas Storage    N/A    #    #

Brentwood Gas Storage LLC

    LLC Interest         Gas Storage    N/A    #    #

Enstor Operating Co., LLC (FN 21)

    LLC Interest         Gas Storage    N/A    429    429

Katy Storage & Transportation, LP (FN 22)

    Limited Partnership
Interest		    1    Gas Storage    N/A    14,087    141

Waha Storage & Transportation LP (23)

    Limited Partnership
Interest		    1    Gas Storage    N/A    #    #

 

Footnotes

 

(FN 1)  Formed 11/12/02 – Incorporated in England – FE – inactive/dormant entity

 

16

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(FN 2)  Formed 9/26/02 – Incorporated in Scotland - FE – inactive/dormant entity

 

(FN 3)  Formed 12/2/02 – Incorporated in England – FE – inactive/dormant entity

 

(FN 4)  Formed 9/24/02 – Renamed SP Finance 4 on 5/16/02 – Incorporated in Scotland – FE – inactive/dormant entity

 

(FN 5)  Formed 9/24/02 – Renamed SP Finance 5 on 5/16/02 – Incorporated in Scotland – FE – inactive/dormant entity

 

(FN 6)  Formed 9/24/02 – Incorporated in Scotland – FE – inactive/dormant entity

 

(FN 7)  Formed 6/18/02 – Incorporated in Scotland – FUCO – holds securities and assets of SPUK

 

(FN 8)  Formed 8/9/02) – Incorporated in Scotland – SPS/FRB – inactive/dormant entity

 

(FN 9)

 Inter company loans – PacifiCorp and certain affiliates currently participate in an intercompany loan agreement (“PacifiCorp Loan Agreement”) allowing PacifiCorp to loan up to $200 million and allowing these affiliates to loan unlimited amounts to PacifiCorp. The PacifiCorp Loan Agreement was approved by the Oregon Public Utility Commission. Loans made under the PacifiCorp Loan Agreement are payable on demand, are evidenced by notes and bear interest at PacifiCorp’s short term borrowing rate whether the loan is to or from PacifiCorp. PacifiCorp Group Holdings Company (“PGHC”) also participates in an intercompany borrowing agreement (“PGHC Loan Agreement,” and collectively, “Loan Agreements”) allowing up to $350 million in loans to be made among PGHC and its subsidiaries, and among PGHC and certain other subsidiaries of PacifiCorp, including PacifiCorp Environmental Remediation Company, PacifiCorp Minerals, Inc. and PacifiCorp Investment Management, Inc. Loans made under the PGHC Loan Agreement are payable on demand and

 

17

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if from PGHC, bear interest at a negotiated rate or at PGHC’s short-term borrowing rate if the borrower is PGHC. Descriptions of the terms and conditions of the Loan Agreements are incorporated by reference to Scottish Power Certificates of Notification under File No. 040- 00485.

 

(FN 10)  Pacific Minerals, Inc. (66.66%); Idaho Power (33.34%) (nonassociate)

 

(FN 11)  PacifiCorp (89.90%); CH2M Hill (10.10%) (nonassociate)

 

(FN 12)  PacifiCorp Future Generations, Inc. (77.85%); BP America, Inc. (22.15%) (nonassociate)

 

(FN 13)  Fundacion Amigos de la Naturaleza (51%) (nonassociate); Canopy Botanicals, Inc. (49%)

 

(FN 14)  Partnership – cash investment

 

(FN 15)  Partnership – cash investment – National Power (87.5%); PacifiCorp Hazelwood Pty Ltd. (12.5%)

 

(FN 16)  Acquired 3/31/03 – Oregon Corporation – Wind Facility/EWG.

 

(FN 17)  Formed 10/21/02 – Oregon LLC – SPS/FE shell to develop future Oregon wind projects

 

 

(FN 18)  Formed 4/18/03 – Oregon LLC – Limited Liability Company shell.

 

 

(FN 19)  Formed 9/22/02 – Oregon LLC – SPS/FE – Limited Liability Company operating on March 31 fiscal period.

 

 

(FN 20)  Formed 4/18/02 – Oregon LLC – SPS/FE shell to hold interest in Rule 58 gas storage facility

 

(FN 21)  Formed 9/19/02 – Oregon LLC – SPS/FE – operating Rule 58 gas storage facility operations and GP of Katy Storage and Transportation LP and Waha Storage and Transportation LP.

 

(FN 22)  Partnership – cash investment – acquired 12/02 – Texas LP – Rule 58 entity that holds gas storage assets – Enstor Inc 99%; Enstor Operating Company 1%.
(FN 23)  Partnership – cash investment – acquired 12/02 – Texa LP – Rule 58 entity that holds gas storage assets – Ensotr Inc 99%; Enstor Operating Company 1%

 

# Less than $2,000.00

 

## Ordinary C share carries no value in ScottishPower’s books or the issuer’s books.

 

  £

 

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Table of Contents
* Inactive/Dormant – An inactive or dormant company refers to a company that does not engage in trading or conduct or solicit business and has no material revenues or income. Inactive or dormant companies are often held until the resolution of contingent liabilities, to maintain certain rights or as a shell to be used in a future transaction.

 

(HC) holding company

 

(FE) finance entity

 

(FUCO) foreign utility company

 

(EWG) exempt wholesale generator

 

(FRB) fuco-related business

 

(SPS) special purpose subsidiary

 

(AIR) weighted average interest rate

 

19

Table of Contents

Status of PHI Nonutility Subsidiaries Existing as March 31, 2004.

 

Name of Company

   

Org.

   

State/Country

   

Status

Biodiversidad Sostenible    Business Arrangement    Bolivia    This business arrangement is still active, however, it is not a statutory subsidiary. The statutory subsidiary that owns this project is Canopy Botanicals, S.R.L.
Rio Bravo Carbon Sequestration Pilot Project    Business Arrangement    Belize    This business arrangement is still active, however, it is not a statutory subsidiary. The statutory subsidiary that owns this project is Canopy Botanicals, S.R.L.
Pacific Harbor Capital, Inc.    Corp.    DE    Manages passive leverage leasing portfolio and holds notes to misc. asset recovery
PacifiCorp Netherland Holdings BV    Corp.    Netherlands    See FN1
Ivanhoe Wind Energy LLC    Limited liability corporation    Oregon    Formed 12/16/03 as an LLC under PPM Energy Inc. This entity is dormant.
Mountain View Green LLC    Limited liability corporation    Oregon    Formed 11/20/03 as an LLC under PPM Energy Inc. This entity is dormant.

Mountain View Power

Partners III LLC

    Limited liability corporation    Delaware    Formed 11/8/00. Acquired by PPM Energy, Inc 7/31/03, operates active wind farm.
PPM Alta Mesa LLC    Limited liability corporation    Oregon    Formed 4/18/03 as an LLC under PPM Energy Inc – presently a shelf entity.
Trimont Wind LLC    Limited Liablity Corporation    Oregon    Formed 12/15/03 as an LLC under PPM Energy Inc. Project scheduled to start in 2005.
PPM Colorado Wind Ventures Inc    Corporation    Oregon    Formed 9/23/03 as a subsidiary of PPM Energy, Inc. Holds active interest in Colorado Wind Ventures LLC.

Colorado Wind

Ventures LLC

    Limited liability corporation    Delaware    Formed 9/23/03. PPM Colorado Ventures Inc. owns a 50% interest.
Colorado Green Holdings LLC    Limited liability corporation    Delaware    Formed 10/11/02; owned since 10/1/03 100% interests held by Colorado Wind Ventures LLC operates active wind farm.
Waha Storage and Transportation LP    Limited Partnership    Texas    Formed 2/26/04 as an LLC under Enstor, Inc and Enstor Operating Co. LLC. Both Enstor entities are subsidiaries of PPM Energy Inc
Scenic Vista Wind Power LLC    Limited Liability Company    Oregon    Sold on March 19, 2004 to FL Energy Stateline II, Inc

 

FN (1)  Entity incorrectly listed as system company in prior years. Research confirms that it does not exist.

 

20

Table of Contents
ITEM 2. ACQUISITION OR SALES OF UTILITY ASSETS.

 

None.

 

ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES.

 

Convertible Bonds issued on July 10, 2003 filed as Exhibit 4.13 on Form 20-F, SEC File No. 001-14676 (filed June 25, 2004). See also, Rule 24, International Release No. 1236, Matter No. 70-9669 (filed June 30, 2004)

 

ITEM 4. ACQUISITION, REDEMPTION, OR RETIREMENT OF SYSTEM SECURITIES.

 

Numbers in Thousands

 

Fiscal Year 2004

 

Investment

    Name of
Acquiring/
Redeeming
Company
    No. of
Shares
    Consider.
Principal
Amount £ or $
    %
voting
    Book Value
£ - $
   

Author./

Exemption

PacifiCorp $7.48 No Par Serial Preferred Stock    PacifiCorp    60,000    $ 6,000,000    N/A    $ 6,000,000    Rule 42

 

ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES.

 

Category 1:

 

Name of Owner

    Name of
Issuer
    Description
of
Securities
   

Number
of
Shares/

Principal
Amount
Owned

    General
Nature of
Issuers
Business
    Book
Value
($000s)
    Percentage
of Voting
Power

PacifiCorp COLI policies managed by Beneficial Life for former UP&L retirees)

    Beneficial
Life		    $95.3M
cash
surrender
value		    N/A    Insurance
Company		    95,528    N/A

 

Category 2:

 

Name of Owner

    Name of Issuer
    Description
of
Securities
   

Number of
Shares/

Principal
Amount
Owned

    General
Nature of
Issuers
Business
    Book
Value
($000s)
    Percentage
of Voting
Power

PacifiCorp Environmental Remediation Co (90% Ownership Interest)

    Columbia
Management
Group		    Columbia
Short-
Term
Bond
Fund		    2,122,420.60    Financial
Institution		    25,724    Less than
1%

 

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Table of Contents

PacifiCorp (SERP) Trust)

    State Street
Bank and
Trust
Company		    EAFE
Equity
Index
Fund		    12,118.43    Financial
Institution		      130    Less than
1%

PacifiCorp (SERP Trust)

    State Street
Bank and
Trust
Company		    Equity
500
Index
Fund		    2,190.45    Financial
Institution		      282    Less than
1%

Bridger Coal Company Reclamation Trust (2/3)

    State Street
Bank and
Trust
Company		    Various    Various    Financial
Institution		      87,409    Less than
1%

PacifiCorp

    Fidelity/
Citibank		    Money
Market
Funds		    Cash
Equivalent		    Financial
Institution		    $
 		 31,581/
8,067		    Less than
1%

PacifiCorp

Environmental

Remediation

Company

    JP Morgan/
Chase		    Money
Market
Funds		    Cash
Equivalent		    Financial
Institution		    $ 5,931    Less than
1%

PacifiCorp Group Holdings Company

    Fidelity/
Citibank		    Money
Market
Funds		    Cash
Equivalent		    Financial
Institution		    $
 		 64,176/
64,964		    Less than
1%

 

None of the affiliates are public utility companies or other nonsystem or system owners.

 

ITEM 6. OFFICERS AND DIRECTORS.

 

PART I.

 

The following abbreviations are used for positions. Principal business addresses are listed.

 

Principal Business Address

    N/A

Position

    Code

Director

    D

President

    P

Chief Executive Officer

    CEO

Chief Financial Officer

    CFO

Chief Accounting Officer

    CAO

Chief Information Officer

    CIO

Chief Production Officer

    CPO

Senior Executive Vice President

    SEVP

Executive Vice President

    EVP

Senior Vice President

    SVP

Financial Vice President

    FVP

Vice President

    VP

Controller/Comptroller

    C

Counsel

    L

Secretary

    S

Assistant Secretary

    AS

Treasurer

    T

Assistant Treasurer

    AT

General Manager

    GM

Managing Director

    MD

Commissioner

    M

 

22

Table of Contents

Name and Principal Address

   

Title

   

Code

EXECUTIVE DIRECTORS – Scottish Power plc          

Ian Russell

1 Atlantic Quay

Glasgow G2 8SP

    Chief Executive    CEO

Charles Berry

1 Atlantic Quay

Glasgow G2 8SP

    Executive Director    D

David Nish

1 Atlantic Quay

Glasgow G2 8SP

    Finance Director    CFO

Judi A. Johansen

825 NE Multnomah

Suite 2000, Portland

Oregon 97232

    Executive Director    D

SIMON LOWTH

1 Atlantic Quay

Glasgow G2 8SP

    Director, Corporate Strategy & Development    D

NON-EXECUTIVE

DIRECTORS – SCOTTISH POWER PLC

          

CHARLES MILLER SMITH

1 Atlantic Quay

Glasgow G2 8SP

    Chairman    D

EUAN BAIRD

1 Atlantic Quay

Glasgow G2 8SP

    Non-executive Director    D

MAIR BARNES

1 Atlantic Quay

Glasgow G2 8SP

    Non-executive Director    D

 

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Table of Contents

PHILIP CARROLL

1 Atlantic Quay

Glasgow G2 8SP

    Non-executive Director    D

SIR PETER GREGSON

1 Atlantic Quay

Glasgow G2 8SP

    Non-executive Director    D

NOLAN KARRAS

1 Atlantic Quay

Glasgow G2 8SP

    Non-executive Director    D

DONALD HOOD BRYDON

1 Atlantic Quay

Glasgow G2 8SP

    Non-executive Director    D

NICK ROSE

1 Atlantic Quay

Glasgow G2 8SP

    Non-executive Director    D
OFFICERS – SCOTTISH POWER PLC          

DOMINIC FRY

1 Atlantic Quay

Glasgow G2 8SP

    Group Director, Corporate Communications    —  

TERRY HUDGENS

1125 NW Couch St, Suite 700, Portland, Oregon, 97209

    Chief Executive Officer – PPM Energy Inc.    CEO

RONNIE MERCER

1 Atlantic Quay

Glasgow G2 8SP

    Group Director, Infrastructure    —  

ANDREW MITCHELL

1 Atlantic Quay

Glasgow G2 8SP

    Company Secretary    S

MICHAEL PITTMAN

1 Atlantic Quay

Glasgow G2 8SP

    Group Director, Human Resources    —  

JAMES STANLEY

1 Atlantic Quay

Glasgow G2 8SP

    Group Director, Legal    L

 

24

Table of Contents

Name and Principal Address

   

Title

   

Code

DIRECTORS – PACIFICORP          

Ian Russell

1 Atlantic Quay

Glasgow G2 8SP

    Chairman of the Board    COB

Barry G. Cunningham

201 South Main

Suite 2300

Salt Lake City UT 84111

    Director    D

Andrew P. Haller

825 NE Multnomah

Suite 2000

Portland OR 97232

    Director    D

Judith A. Johansen

825 NE Multnomah

Suite 2000

Portland OR 97232

    Director    D

Nolan E. Karras

4695 South 1900 West

#3

Roy UT 84067

    Director    D

William B. Landels

201 South Main

Suite 2300

Salt Lake City UT 84111

    Director    D

Andrew N. MacRitchie

825 NE Multnomah

Suite 2000

Portland OR 97232

    Director    D

Richard D. Peach

825 NE Multnomah

Suite 2000

Portland OR 97232

    Director    D

Michael J. Pittman

825 NE Multnomah

Suite 2000

Portland OR 97232

    Director    D

A. Richard Walje

825 NE Multnomah

Suite 2000

Portland OR 97232

    Director    D

Matthew R. Wright

825 NE Multnomah

Suite 2000

Portland OR 97232

    Director    D
OFFICERS – PACIFICORP          

Judith A. Johansen

825 NE Multnomah

Suite 2000

Portland OR 97232

    President and Chief Executive Officer   

P

CEO

 

25

Table of Contents

William D. Landels

201 South Main

Suite 2300

Salt Lake City UT 84111

   

Executive Vice President

   

EVP

Andrew N. MacRitchie

825 NE Multnomah

Suite 2000

Portland OR 97232

   

Executive Vice President

   

EVP

Matthew R. Wright

825 NE Multnomah

Suite 2000

Portland OR 97232

   

Executive Vice President

   

EVP

Barry G. Cunningham

201 South Main

Suite 2300

Salt Lake City UT 84111

   

Senior Vice President

   

SVP

Donald N. Furman

825 NE Multnomah

Suite 2000

Portland OR 97232

   

Senior Vice President

   

SVP

Andrew P. Haller

825 NE Multnomah

Suite 2000

Portland OR 97232

   

Senior Vice President, General

Counsel and Corporate Secretary

   

SVP

L

S

Robert A. Klein

1125 NW Couch

Suite 700

Portland OR 97209

   

Senior Vice President

   

SVP

Michael J. Pittman

825 NE Multnomah

Suite 2000

Portland OR 97232

   

Senior Vice President

   

SVP

A. Richard Walje

825 NE Multnomah

Suite 2000

Portland OR 97232

   

Senior Vice President

   

SVP

Stan K. Watters

825 NE Multnomah

Suite 2000

Portland OR 97232

   

Senior Vice President

   

SVP

Richard D. Peach

825 NE Multnomah

Suite 2000

Portland OR 97232

   

Chief Financial Officer

   

CFO

Jeffrey K. Larsen

201 South Main

Suite 2300

Salt Lake City UT 84111

   

Vice President

   

VP

Donald D. Larson

201 South Main

Suite 2300

Salt Lake City UT 84111

   

Vice President

   

VP

 

26

Table of Contents

Ernest E. Wessman

201 South Main

Suite 2300

Salt Lake City UT 84111

   

Vice President

   

VP

Bruce N. Williams

825 NE Multnomah

Suite 1900

Portland OR 97232

   

Treasurer

   

T

Jeffery B. Erb

825 NE Multnomah

Suite 1800

Portland OR 97232

   

Assistant Secretary

   

AS

Michael G. Jenkins

201 South Main

Suite 2200

Salt Lake City UT 84111

   

Assistant Secretary

   

AS

Larry O. Martin

825 NE Multnomah

Suite 19000

Portland OR 97232

   

Assistant Secretary

   

AS

Alexander D. Tart

825 NE Multnomah

Suite 19000

Portland OR 97232

   

Assistant Secretary

   

AS

 

27

Table of Contents

ITEM 6 – OFFICERS AND DIRECTORS

 

Officers and directors of all Scottish Power systems companies as at 31 March 2004

 

Entity

   

Principal Address

   

Directors

   

Officers

Scottish Power plc    1 Atlantic Quay, Glasgow G2 8SP   

Euan Baird – Non-Executive Director

Mair Barnes – Non-Executive Director

Charles A Berry – Executive Director

Donald H Brydon OBE – Non-Executive Director

Philip J Carroll jnr – Non-Executive Director

Sir Peter L Gregson – Non-Executive Director

Judith A Johansen – Executive Director

Nolan E Karras – Non-Executive Director

Charles Miller Smith - Chairman

David T Nish – Finance Director

Nicholas C Rose – Non-Executive Director

Ian M Russell – Chief Executive

   

Dominic Fry – Group Director, Corporate Communications

Simon J Lowth – Director, Corporate Strategy & Development

Terry Hudgens – CEO, PPM

Ronnie E Mercer – Group Director, Infrastructure

Andrew R Mitchell – Company Secretary

Mike Pittman – Group Director, Human Resources

R James Stanley – Group Director, Commercial & Legal

SP Finance    1 Atlantic Quay, Glasgow G2 8SP   

Adrian J Coats - Director

David T Nish - Director

Ian M Russell - Director

    Andrew R Mitchell – Company Secretary

 

28

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

SP Finance 2 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

David T Nish - Director

R James Stanley - Director

    Andrew R Mitchell – Company Secretary
PacifiCorp UK Limited    1 Atlantic Quay, Glasgow, G2 8SP   

David T Nish - Director

R James Stanley - Director

    Andrew R Mitchell – Company Secretary
ScottishPower Overseas Holdings Limited    1 Atlantic Quay, Glasgow, G2 8SP   

David T Nish - Director

R James Stanley - Director

    Donald J McPherson – Company Secretary
PacifiCorp Energy Canada Limited   

1900, 736-6 Avenue SW, Calgary

Alberta T2P 3T7

   

Craig D Johnstone - Director

Matthew K Morrow - Director

    Andrew P Haller – Company Secretary
SP Finance 4 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

David T Nish - Director

R James Stanley - Director

    Andrew R Mitchell – Company Secretary
SP Finance 5 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

David T Nish – Director

R James Stanley - Director

    Andrew R Mitchell – Company Secretary
Venus 5 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

David T Nish - Director

R James Stanley - Director

     

 

29

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

Scottish Power UK Holdings Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

Ronnie E Mercer - Director

David T Nish - Director

Ian M Russell - Director

R James Stanley - Director

    Andrew R Mitchell – Company Secretary
ScottishPower Energy Management (Agency) Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Robert A Benns - Director

John A Campbell - Director

Susan M Reilly - Director

    Donald J McPherson – Company Secretary
ScottishPower Energy Management Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

John A Campbell - Director

Susan M Reilly - Director

    Donald J McPherson – Company Secretary
Holford Gas Storage Limited        

Charles A Berry - Director

John A Campbell - Director

Susan M Reilly - Director

    Donald J McPherson – Company Secretary
Scottish Power UK plc    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

Ronnie E Mercer - Director

David T Nish – Director

Ian M Russell - Director

R James Stanley - Director

    Andrew R Mitchell – Company Secretary
Aspen 1 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

 

30

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

Caledonian Gas Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald McPherson – Company Secretary
ScottishPower Group Money Purchase Pension Scheme Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Stuart Derwent - Director

Stephen W Dunn - Director

Andrew R Mitchell - Director

    Paul Mulhern – Company Secretary
ScottishPower Inc    1 Atlantic Quay, Glasgow, G2 8SP    Ian M Russell - Director     
Manweb Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Roboscot (38) Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Christopher Morson - Director

R James Stanley - Director

Finlay F Williamson - Director

    Shirley M MacGillivray – Company Secretary
SaBRe Water Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Scottish Power Trustees Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

J Stewart Wood - Director

    Andrew R Mitchell – Company Secretary
Scottish Utility Services Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Camjar plc    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

 

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Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

Spotlight Trading Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

   

Donald J McPherson –

Company Secretary

Telephone Information Services plc    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

   

Donald J McPherson –

Company Secretary

ScottishPower Energy Retail Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

D William MacDiarmid - Director

David L Wark - Director

   

Donald J McPherson –

Company Secretary

Manweb Energy Consultants Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

D William MacDiarmid - Director

   

Donald J McPherson –

Company Secretary

N.E.S.T.MAKERS Limited    1 Atlantic Quay, Glasgow, G2 8SP   

John W Clough - Director

Jack Harrison Director

Raymond Jack - Director

Joseph A Johnson - Director

Donald W MacDiarmid - Director

David L Wark - Director

   

David G Linton –

Company Secretary

ScottishPower Generation Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

Alan A Bryce - Director

David N Morrison - Director

   

Donald J McPherson –

Company Secretary

Beaufort Energy Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Alan A Bryce - Director

Susan M Reilly - Director

   

Donald J McPherson –

Company Secretary

 

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Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

CRE Energy Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Alan A Bryce - Director

Susan M Reilly - Director

   

Donald J McPherson –

Company Secretary

Wind Resources Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Samuel R Anderson - Director

David N Morrison - Director

   

Sally A Jones –

Company Secretary

Carland Cross Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Samuel R Anderson - Director

David N Morrison - Director

   

Sally A Jones –

Company Secretary

Celtpower Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Alan A Bryce - Director

Adrian J Coats - Director

John Heasley - Director

John A Matthew - Director

Minuro Saito - Director

Motoyasu Sakamoto - Director

    Grace A Buckley – Company Secretary
Emerald Power Generation Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Alan A Bryce - Director

David N Morrison - Director

   

Donald J McPherson –

Company Secretary

Manweb Generation Holdings Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Dylan Hughes - Director

Susan M Reilly - Director

   

Donald J McPherson –

Company Secretary

Manweb Generation (Winnington) Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

   

Donald J McPherson –

Company Secretary

 

33

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

Winnington Combined Heat & Power Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Stephen G Bentley - Director

Dylan Hughes - Director

Valerie L Kohler - Director

   

Donald J McPherson –

Company Secretary

Winnington Combined Heat & Power Developments Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Stephen G Bentley - Director

Dylan Hughes - Director

Valerie L Kohler - Director

   

Donald J McPherson –

Company Secretary

Winnington Combined Heat & Power Operations Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Stephen G Bentley - Director

Dylan Hughes - Director

Valerie L Kohler - Director

   

Donald J McPherson –

Company Secretary

Scotash Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Christian M Blanc - Director

Nigel L Cooke - Director

Ronald G Hunter - Director

    LaFarge Secretaries (UK) Limited – Company Secretary
Shoreham Operations Company Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Ronald A Erd - Director

Hugh O Finlay - Director

David N Morrison - Director

Stuart Staley - Director

Surinder S Toor - Director

   

Charles D MacKendrick –

Company Secretary

SMW Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Alan A Bryce - Director

David N Morrison - Director

R James Stanley - Director

   

Donald J McPherson –

Company Secretary

 

34

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

South Coast Power Limited    1 Atlantic Quay, Glasgow, G2 8SP   

John A Campbell - Director

Ronald A Erd - Director

David N Morrison - Director

Stuart Staley - Director

Surinder S Toor - Director

   

Charles D MacKendrick –

Company Secretary

ScottishPower Share Scheme Trustees Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Alan A Bryce - Director

Sheelagh J Duffield - Director

Robin D Fulton - Director

Edwin D Howells - Director

Norman McNeil - Director

David Simpson - Director

J Stewart Wood - Director

   

Alan W McCulloch –

Company Secretary

ScottishPower Sharesave Trustees Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew J Blain - Director

Adrian J Coats - Director

C Stuart MacDonald - Director

Alan W McCulloch - Director

Norman McNeil - Director

David Simpson - Director

   

Alan W McCulloch –

Company Secretary

 

35

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

Selectusonline Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Douglas Bridson - Director

Kieran Brocklebank - Director

Keith Budinger - Director

Phillip E Connor - Director

Ian J McLeod - Director

Padraig McManus - Director

Carol A Morgan - Director

Marie Sinott - Director

    UU (C.S.) Limited – Company Secretary

SP Dataserve Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

D William MacDiarmid - Director

David L Wark - Director

    Donald J McPherson – Company Secretary

SP Distribution

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Robert F MacLaren - Director

Ronnie E Mercer - Director

James F Wilson - Director

    Alan McCulloch – Company Secretary

Scottish Electricity

Settlements Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

Alan A Bryce - Director

David Sigsworth - Director

    Ian M Manson – Company Secretary

SP Gas Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Ronnie E Mercer - Director

David Rutherford - Director

Stephen A Wood - Director

    Alan McCulloch – Company Secretary

 

36

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

SP Power Systems

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

David J Hill - Director

Ronnie E Mercer - Director

David Rutherford - Director

    Alan W McCulloch – Company Secretary

Core Utility Solutions

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Neil P Armstrong - Director

Peter V Carolan - Director

Neil D Cocker - Director

William G McClymont - Director

Dr. Eric J Murray - Director

Alan R Thompson - Director

Stephen A Wood - Director

    Alan W McCulloch – Company Secretary

SP Transmission

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Robert F MacLaren - Director

Ronnie E Mercer - Director

James F Wilson - Director

    Andrew R Mitchell – Company Secretary
GBSO Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Leslie H Burns - Director

Robert F MacLaren - Director

William D Wright - Director

    Alan W McCulloch – Company Secretary

Teledata (Holdings)

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Teledata

(Outsourcing) Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

 

37

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

The CallCentre

Service Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Teledata Scotland

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

The Information

Service Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Clubcall Telephone

Services Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Clubline Services

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Telephone

International Media

Holdings Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Copperteam Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Telephone

International Media

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

 

38

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

TIM Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

ScottishPower

Investments Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

Ian M Russell - Director

    Andrew R Mitchell – Company Secretary

Caledonian

Communications

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Genscot Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

Ian M Russell - Director

    Andrew R Mitchell – Company Secretary

Manweb Holdings

Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

Ian M Russell - Director

    Andrew R Mitchell – Company Secretary

Manweb Contracting

Services Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Manweb Gas Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

Manweb Pensions

Trustee Limited

    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Paul Mulhern – Company Secretary

 

39

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

Mawlaw 526 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
SSEB Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
ScotPower Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Scotsgrid Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
ScottishPower Finance Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Scotspower Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
ScottishPower Insurance Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Claire M Christian - Director

Adrian J Coats - Director

John D Evans - Director

Stephen Henderson - Director

David T Nish - Director

Michael Sheehan - Director

    Sedgwick Management Services (IOM) Limited – Company Secretary
ScottishPower Leasing Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Adrian J Coats - Director

Ian M Russell - Director

   

Andrew R Mitchell –

Director

 

40

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

ScottishPower Securities Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
ScottishPower Telecommunications Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Demon Internet Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Cityscape Global Media Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Cityscape Internet Services Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Cityscape Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Demon Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Dispatch Publishing Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Locomotive Software Group Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

 

41

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

Locomotive Software Developments Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Turnpike 1996 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Turnpike Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
The IP Systems Operation Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Lancastrian Holdings Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Megafone (UK) Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Psychic Companions Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
SPPT Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Watermark Games Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Charles A Berry - Director

David T Nish - Director

    Donald J McPherson – Company Secretary

 

42

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

SP Manweb plc    1 Atlantic Quay, Glasgow, G2 8SP   

Robert F MacLaren - Director

Ronnie E Mercer - Director

James G Wilson - Director

    Alan McCulloch – Company Secretary
Manweb Nominees Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Andrew R Mitchell – Company Secretary
Manweb Services Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Donald J McPherson – Company Secretary
Manweb Share Scheme Trustees Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

    Alan W McCulloch – Company Secretary
ScottishPower NA1 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

Ian M Russell - Director

R James Stanley - Director

    Andrew R Mitchell – Company Secretary
ScottishPower NA2 Limited    1 Atlantic Quay, Glasgow, G2 8SP   

Andrew R Mitchell - Director

David T Nish - Director

Ian M Russell - Director

R James Stanley - Director

    Andrew R Mitchell – Company Secretary

 

43

Table of Contents

Entity

   

Principal Address

   

Directors

   

Officers

St Clements Services Ltd   

4-6 Church Walk

Daventry

Northamptonshire

NN11 4BL

   

Robin D Edmunds - Director

James Anderson - Director

Katherine M Bergin - Director

Peter R Brown - Director

John G Hayling - Director

Harish Mistry - Director

Graham R Overden - Director

John M Squire - Director

    Susan Stein – Company Secretary
Electralink Ltd   

40 Grosvenor Place

Victoria

London

SW1X 7EN

   

Michael J Boxall - Director

Kevin D Lee - Director

John Winkle - Director

Anthony Clive Woods - Director

Susan E Burrows - Director

Gareth D Pearson - Director

    Robert I Higson – Company Secretary

Scottish Power

Finance (Jersey) Ltd

   

22 Grenville Street, St Helier

Jersey JE4 8PX

   

Adrian J M Coats - Director

David T Nish - Director

   

Mourant & Co Secretaries

Ltd – Company Secretary

Coal Clough Ltd   

Avonbank, Feeder road

Bristol BS2 0TB

   

Samuel R J Anderson - Director

David N Morrison - Director

    Sally A Jones – Company Secretary
Gemserv Ltd   

7th Floor Centurion House

24 Monument Street, London

EC3R 6AJ

   

Paul B P Tonkinson - Director

Nigel G Bromley - Director

Geoff Huckerby - Director

John N Sykes - Director

    Anzo G Frances – Company Secretary

 

44

Table of Contents

PacifiCorp and Subsidiary companies

— Officers and Directors as of

March 31, 2004

 

Entity

   

Principal Address

   

Directors

   

Officers

PacifiCorp Holdings, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Andrew P. Haller

Ian M. Russell

David T. Nish

James R. Stanley

   

Ian M. Russell (President)

David T. Nish (Chief Financial Officer)

James R. Stanley (General Counsel)

Andrew P. Haller (Assistant General Counsel)

James R. Stanley (Senior Vice President)

Andrew P. Haller (Senior Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Pacific Klamath Energy, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Andrew P. Haller

Terry F. Hudgens

   

Terry F. Hudgens (President)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

45

Table of Contents
PacifiCorp   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Judith A. Johansen

Andrew N. MacRitchie

Michael J. Pittman

A. Richard Walje

Matthew R. Wright

Barry G. Cunningham

Ian M. Russell

Nolan E. Karras

William B. Landels

   

Judith A. Johansen (President)

Judith A. Johansen (Chief Executive Officer)

Richard D. Peach (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew N. MacRitchie (Executive Vice President)

William B. Landels (Executive Vice President)

Matthew R. Wright (Executive Vice President)

Michael J. Pittman (Senior Vice President)

A. Richard Walje (Senior Vice President)

Barry G. Cunningham (Senior Vice President)

Robert A. Klein (Senior Vice President)

Donald N. Furman (Senior Vice President)

Andrew P. Haller (Senior Vice President)

Donald (Doug) D. Larson (Vice President)

Jeffrey K. Larsen (Vice President)

Ernest E. Wessman (Vice President)

Stan K. Watters (Vice President)

Andrew P. Haller (Secretary)

Jeffery B. Erb (Assistant Secretary)

Larry O. Martin (Assistant Secretary)

Michael G. Jenkins (Assistant Secretary)

Alexander D. Tait (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

46

Table of Contents
Centralia Mining Company   

201 South Main

Suite 2100

Salt Lake City, Utah 84111

   

Dee W. Jense

Robert P. King

   

Dee W. Jense (President)

Robert P. King (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Energy West Mining Company   

201 South Main

Suite 2100

Salt Lake City, Utah 84111

   

Dee W. Jense

Robert P. King

   

Dee W. Jense (President)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Robert P. King (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Glenrock Coal Company   

201 South Main

Suite 2100

Salt Lake City, Utah 84111

   

Dee W. Jense

Robert P. King

   

Dee W. Jense (President)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Robert P. King (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

47

Table of Contents
Interwest Mining Company   

201 South Main

Suite 2100

Salt Lake City, Utah 84111

   

Dee W. Jense

Robert P. King

   

Dee W. Jense (President)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Robert P. King (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Pacific Minerals, Inc.   

201 South Main

Suite 2100

Salt Lake City, Utah 84111

   

Dee W. Jense

Robert P. King

   

Dee W. Jense (President)

Robert P. King (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Bridger Coal Company   

201 South Main

Suite 2100

Salt Lake City, Utah 84111

          
PacifiCorp Environmental Remediation Company   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Ernest E. Wessman

Susan P. Berndt

Ron L. Lowder

Alec Burden

Randy C (CH2MHill)

Pratt

   

Susan P. Berndt (President)

Charles P. Allen (Vice President)

Andrew P. Haller (Secretary)

Bruce N. Williams (Treasurer)

PacifiCorp Future Generations, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Kevin Lynch   

Kevin Lynch (President)

Andrew P. Haller (Secretary)

Jeremy D. Weinstein (Assistant Secretary)

William R. Edmonds (Assistant Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

48

Table of Contents
Canopy Botanicals, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Arden D. Ahnell

Dale E. Heydlauff

Jeremy D. Weinstein

Mark Meader

   

Arden D. Ahnell (President)

Dale E. Heydlauff (Executive Vice President)

Mark Meader (General Manager)

Jeremy D. Weinstein (Secretary)

Canopy Botanicals, SRL   

La Paz

La Paz, La Paz

   ND    NO
PacifiCorp Investment Management Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Secretary)

William R. Edmonds (Assistant Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

PacifiCorp Group Holdings Company   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Andrew P. Haller

Bruce N. Williams

   

Bruce N. Williams (President)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

New Energy Holdings I, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    ND   

Bruce N. Williams (President)

George C. Schreck (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

49

Table of Contents
EnergyWorks Holdings I   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Bruce N. Williams (Chief Executive Officer)

Andrew P. Haller (Secretary)

George C. Schreck (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

New IndiaPower Company One   

New Delhi, India

New Delhi, India 49

   

George C. Schreck

Craig N. Longfield

Robert W. Dove

Michael C. Bailey

Suzanne H. Gujadhur

Shariff G. Hossen

   

Patricia N. Chiu (Controller)

Robert W. Dove (Vice President)

Peter J. Arnone (Vice President)

Marcia B. Burkey (Vice President)

Craig N. Longfield (Vice President)

George C. Schreck (Vice President)

Mutual Trust Management (Mauritius) (Secretary)

Michael C. Bailey (Assistant Secretary)

Marcia B. Burkey (Treasurer)

Peter J. Arnone (Assistant Treasurer)

New IndiaPower Company Two   

New Delhi, India

New Delhi, India 49

   

George C. Schreck

Craig N. Longfield

Robert W. Dove

Michael C. Bailey

Suzanne H. Gujadhur

Shariff G. Hossen

   

Patricia N. Chiu (Controller)

Robert W. Dove (Vice President)

Peter J. Arnone (Vice President)

Marcia B. Burkey (Vice President)

Craig N. Longfield (Vice President)

George C. Schreck (Vice President)

Mutual Trust Management (Mauritius) (Secretary)

Michael C. Bailey (Assistant Secretary)

Marcia B. Burkey (Treasurer)

Peter J. Arnone (Assistant Treasurer)

 

50

Table of Contents
PACE Group, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Jeffery B. Erb

Bruce N. Williams

   

Bruce N. Williams (President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Pacific Kinston Energy, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Andrew P. Haller

Larry O. Martin

Bruce N. Williams

   

Bruce N. Williams (President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

PacifiCorp Development Company   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

PacifiCorp Generation International, BV   

Netherlands

Netherlands, Netherlands

   ND    NO
Pacific Bakun Energy BV   

Netherlands

Netherlands, Netherlands

   ND    NO
PacifiCorp Energy Services, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

George C. Schreck (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Encorp (Minority Interest)   

1209 Orange Street

Wilmington, Delaware 19801

    ND    NO

 

51

Table of Contents
PacifiCorp Energy
Ventures, Inc.		   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

George C. Schreck (Vice
President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant
Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant
Treasurer)

Nth Power Technologies Fund I, LP   

50 California St. Ste 840

San Francisco, CA 94111

    ND    NO
PacifiCorp Financial Services, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Birmingham Syn Fuel I, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Jon Michael Luce (Vice President)

Andrew P. Haller (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

52

Table of Contents
CS Holdings, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Jon Michael Luce (Vice
President)

Andrew P. Haller (Vice
President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant
Secretary)

Jeffery B. Erb (Assistant
Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant
Treasurer)

Koala FSC, Ltd.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Bruce N. Williams

Jon Michael Luce

George C. Schreck

J.C.R. Collis

Donald H. Malcolm

   

Bruce N. Williams (President)

Jon Michael Luce (Vice President)

I.S. Outerbridge (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Leblon Sales Corporation   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Jeffery B. Erb

Bruce N. Williams

Jon Michael Luce

Diane Vucenich

Avril G. Harvey

   

Bruce N. Williams (President)

Jon Michael Luce (Vice President)

Larry O. Martin (Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Pacific Development (Property), Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

53

Table of Contents
Pacific Harbor Capital,
Inc.		   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Jon Michael Luce (Vice
President)

Andrew P. Haller (Vice
President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant
Secretary)

Jeffery B. Erb (Assistant
Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant
Treasurer)

PFI International, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

   

Bruce N. Williams

Jon Michael Luce

Sinforoso M. Tolentino

   

Bruce N. Williams (President)

Jon Michael Luce (Vice President)

Sinforoso M. Tolentino (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

PHC Properties Corporation   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

PCC Holdings, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Jon Michael Luce (Vice President)

Andrew P. Haller (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

54

Table of Contents
Hillsborough Leasing
Services, Inc.		   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Vice
President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant
Secretary)

Jeffery B. Erb (Assistant
Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant
Treasurer)

PNF Holdings, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

VCI Acquisition Co.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

PacifiCorp International Group Holdings Company   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

PacifiCorp Hazelwood Pty Ltd.   

40 Market Street

Melbourne, Victoria 8001

    ND    NO

 

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Table of Contents
Hazelwood Australia, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Hazelwood Ventures, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Hazelwood Finance LP   

40 Market Street

Melbourne, Victoria 8001

    ND     
PacifiCorp Trans, Inc.   

825 NE Multnomah

Suite 2000

Portland, Oregon 97232

    Bruce N. Williams   

Bruce N. Williams (President)

Jon Michael Luce (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

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Table of Contents
PPM Energy, Inc.   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

Andrew P. Haller

Ian M. Russell

Terry F. Hudgens

David T. Nish

Henry H. Hewitt

   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Ralph B. Currey (Vice President)

Peter C. vanAlderwerelt (Vice President)

Matthew Morrow (Vice President)

Donald J. Winslow (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Arlington Wind LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

57

Table of Contents
Enstor, Inc.   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

Andrew P. Haller

Terry F. Hudgens

Matthew Morrow

Peter C. vanAlderwerelt

   

Terry F. Hudgens (Chairman)

Matthew Morrow (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Donald J. Winslow (Vice President)

Peter C. vanAlderwerelt (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Brentwood Gas Storage LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Matthew Morrow (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

City Gate LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND    NO
Columbia Gas Storage LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND    NO
Delta Gas Storage LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND    NO

 

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Table of Contents
Enstor Louisiana LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Matthew Morrow (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Enstor Operating Company, LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Matthew Morrow (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Ben Moore (Vice President)

Donald J. Winslow (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Ben Moore (Director of Business Development)

Patrick DeVille (Director of Marketing)

Katy Storage and Transportation, L.P.   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

    NO
Waha Storage and Transportation, L.P.   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

    NO

 

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Table of Contents
Flying Cloud Power Partners, LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Ian M. Russell (Chairman)

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (Senior Vice President, General Counsel and Secretary)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Heartland Wind LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Ivanhoe Wind Energy LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Ian M. Russell (Chairman)

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Paul Kaufman (Assistant Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

60

Table of Contents
Klamath Energy LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

Andrew P. Haller (Senior Vice President, General Counsel and Secretary)

Matthew R. Wright (Senior Vice President)

Matthew Morrow (Vice President)

Peter C. vanAlderwerelt (Vice President)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Klamath Generation LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

Andrew P. Haller (Senior Vice President, General Counsel and Secretary)

Matthew R. Wright (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Matthew Morrow (Vice President)

Larry O. Martin (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Klondike Wind Power LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Matthew Morrow (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

61

Table of Contents
Moraine Wind II LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Moraine Wind LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Matthew Morrow (Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Mountain View Green LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Ian M. Russell (Chairman)

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Julian Brown (Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

 

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Table of Contents
Mountain View Power Partners III, LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Ian M. Russell (Chairman)

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Pacific Wind Development LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Phoenix Wind Power LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

    Peter C. vanAlderwerelt (Vice President)

 

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Table of Contents
PPM Alta Mesa LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Ian M. Russell (Chairman)

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Larry O. Martin (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

PPM Colorado Wind Ventures, Inc.   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Paul Kaufman (Assistant Secretary)

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

Colorado Wind Ventures, LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Cathy Syme (Vice President)

Allan E. Query (Vice President)

Scott Reinhardt (Vice President, Operations)

I. M. Kerr (Vice President, Finance)

Colorado Green Holdings, LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

    NO
Trimont Wind I LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

   

ND

   

Ian M. Russell (Chairman)

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

I. M. Kerr (Chief Financial Officer)

Andrew P. Haller (General Counsel)

Andrew P. Haller (Senior Vice President)

Peter C. vanAlderwerelt (Vice President)

Allan E. Query (Vice President)

Andrew P. Haller (Secretary)

Paul Kaufman (Assistant Secretary)

 

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Table of Contents
              

Jeffery B. Erb (Assistant Secretary)

Bruce N. Williams (Treasurer)

Tanya S. Sacks (Assistant Treasurer)

West Valley Leasing Company, LLC   

1125 NW Couch, Suite 700

Portland, Oregon 97209

    ND   

Terry F. Hudgens (President)

Terry F. Hudgens (Chief Executive Officer)

 

 

Key

 

ND – No directors

NO – No officers

 

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Table of Contents

Part II. Financial Connections.

 

Name

   

Name and Location of Financial
Institution

   

Position held in Financial Institution

   

Applicable
Exemption Rule

Charles Miller Smith

    Goldman Sachs    Non-executive Director    Rule 70

Nolan Karras

    Beneficial Life Insurance Company and American General Savings Bank, both of USA    Non-executive Director    Rule 70

Donald Hood Brydon

    AXA Investment Managers    Non-executive Director    Rule 70

 

ITEM 6. EXECUTIVE COMPENSATION - PART III.

 

(a) Summary Compensation Tables. The following tables set forth information concerning any Chief Executive Officer and the four most highly compensated executive officers for ScottishPower and PacifiCorp as of March 31, 2004, as defined by the Securities and Exchange Commission.

 

Key terms used in this Item will have the following meanings:-

 

ESP

   

Employee Savings Plan

ESOP

   

Employee Stock Ownership Plan

SBP

   

Supplemental Benefit Plan

ERISA

   

Employee Retirement Income S. A

 

66

Table of Contents

EXECUTIVE COMPENSATION

 

The following table sets forth information concerning compensation for services in all capacities to the Company for the years ended March 31, 2004, 2003 and 2002 of those persons who were the Chief Executive Officer of the Company during any portion of the year ended March 31, 2004 and the four other most highly compensated executive officers of the Company who were serving as executive officers at the end of the last completed fiscal year.

 

Summary Compensation Table

 

               Long-Term Compensation
          

Name and Principal Position

    Year
    Annual Compenstion (a)
    Restricted
Stock
Awards (c)
    Securities
Underlying
Options (d)
    LTIP
Payout (e)
    ScottishPower
Performance
Shares (f)
    All Other
Compensation
(g)
      Salary
    Bonus (b)
               

Judith A. Johansen
President and
Chief Executive Officer

    2004
2003
2002		    $
 
 		 589,394
492,444
360,501		    $
 
 		 337,500
149,767
12,902		    $
 
 		 —  
—  
141,683		    61,475
61,825
57,350		    $
 
 		 —  
—  
—  		    12,458
9,199
—  		    $
 
 		 22,883
32,657
11,707

Andrew P. Haller
Senior Vice President,
General Counsel and
Corporate Secretary

    2004
2003
2002		     
 
 		 327,996
310,930
299,425		     
 
 		 190,109
132,020
8,392		     
 
 		 —  
—  
112,768		    13,530
19,165
56,800		     
 
 		 —  
23,069
23,069		    5,484
5,069
5,069		     
 
 		 20,165
21,037
10,524

Michael J. Pittman
Senior Vice President

    2004
2003
2002		     
 
 		 313,125
300,000
275,167		     
 
 		 187,500
47,057
150,008		     
 
 		 —  
—  
53,203		    38,729
50,954
13,500		     
 
 		 —  
—  
—  		    7,849
7,581
—  		     
 
 		 20,097
28,310
20,449

A. Richard Walje
Senior Vice President

    2004
2003
2002		     
 
 		 299,544
275,500
240,375		     
 
 		 127,557
95,550
128,854		     
 
 		 —  
—  
53,203		    17,751
24,840
14,000		     
 
 		 —  
—  
12,222		    7,195
6,570
—  		     
 
 		 20,324
29,183
19,606

Robert A. Klein
Senior Vice President

    2004
2003
2002		     
 
 		 265,000
228,339
202,500		     
 
 		 143,100
75,075
13,295		     
 
 		 —  
—  
—  		    10,860
14,011
—  		     
 
 		 —  
—  
—  		    4,042
3,706
—  		     
 
 		 19,795
21,079
10,212

 

(a)

May include amounts deferred pursuant to the Compensation Reduction Plan, under which key executives and directors may defer receipt of cash compensation until retirement or a preset future date. Amounts deferred are invested in ScottishPower ADS or a cash account on which interest is

 

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paid at a rate equal to the Moody’s Intermediate Corporate Bond Yield for AA-rated Public Utility Bonds.

 

(b) Amounts in this column for the year ended March 31, 2003 include a promotion bonus in the amount of $41,556 for Ms. Johansen. Amounts in this column for the year ended March 31, 2002 include a retention bonus in the amount of $125,610 and $104,000 for Mr. Walje.

 

(c) On March 31, 2004, the aggregate value of all restricted stock holdings, based on the market value of ScottishPower ADS at March 31, 2004, without giving effect to the diminution of value attributed to the restrictions on such stock, was $104,444, $83,129, $26,146 and $26,146, for Ms. Johansen and Messrs. Haller, Pittman and Walje, respectively. The aggregate number of restricted share holdings was 3,675, 2925, 920 and 920 for Ms. Johansen and Messrs. Haller, Pittman and Walje, respectively. Regular quarterly dividends are paid on the restricted stock. Participants may defer receipt of restricted stock awards to their stock accounts under the Compensation Reduction Plan.

 

(d) Amounts for the year ended March 31, 2004 and 2003 represent the number of ADS option shares awarded under the ScottishPower ExSOP during the year ended March 31, 2004. Amounts shown for the year ended March 31, 2002 represent the number of ADS options awarded under the PacifiCorp Stock Incentive Plan.

 

(e) Represents the dollar value of restricted stock shares awarded under the PacifiCorp Stock Incentive Plan that vested and were distributed to the named officer in the form of ScottishPower ADSs.

 

(f) Represents the number of ScottishPower ADS, contingently granted in 2004, 2003 and 2002 that can be earned under the terms of the ScottishPower LTIP.

 

(g) Amounts shown for the year ended March 31, 2004 include :

 

  (i) Company contributions to the PacifiCorp K Plus Employee Savings and Stock Ownership Plan were $12,083 for Ms. Johansen, $10,179 for mr Haller, $10,156 for Mr Pittman, $10,421 for Mr Walje and $10,000 for Mr Klein.

 

  (ii) Portions of premiums on term life insurance policies that PacifiCorp paid for Ms. Johansen and Messrs. Haller, Pittman, Walje and Klein in the amounts of $986, 941, 903 and 795 respectively. These benefits are available to all employees.

 

  (iii) This column also includes vehicle allowances paid to Ms. Johansen and Messrs. Haller, Pittman, Walje and Klein in the amounts of $9,000 each.

 

SUMMARY COMPENSATION TABLE – SCOTTISH POWER PLC

 

The following table provides details of the remuneration and pensions interests of the directors of Scottish Power plc and the information is audited.

 

     Basic Salary
£ 000’s
    Bonuses
£ 000’s
    Benefits in Kind
£ 000’s
    Total
£ 000’s

TOTAL EMOLUMENTS

    2004
    2003
    2004
     2003
    2004
    2003
    2004
    2003

Chairman and executive directors

                                         

Charles Miller Smith (Chairman)

    275.0    235.0    —       —      4.7    14.0    279.7    249.0

Ian Russell

    650.0    550.0    414.4     412.5    32.7    32.8    1,097.1    995.3

Charles Berry

    315.0    300.0    212.6     225.0    27.4    25.8    555.0    550.8

Judi Johansen (appointed 1 October 2003)

    206.6    —      258.3 *   —      3.2    —      468.1    —  

Simon Lowth (appointed 1 September 2003)

    242.1    —      151.3     —      6.7    —      400.1    —  

David Nish

    415.0    350.0    269.8     262.5    31.7    31.2    716.5    643.7
    
  
  
 
  
  
  
  

Total

    2,103.7    1,435.0    1,306.4     900.0    106.4    103.8    3,516.5    2,438.8
    
  
  
 
  
  
  
  

 

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Fees

£ 000’s

   

Bonuses

£ 000’s

   

Benefits in Kind

£ 000’s

   

Total

£ 000’s

     2004
    2003
    2004
    2003
    2004
    2003
    2004
    2003

Non-executive directors (fees and expenses)

                                        

Euan Baird

    32.8    29.5    —      —      2.9    0.3    35.7    29.8

Mair Barnes

    38.0    33.0    —      —      3.4    0.3    41.4    33.3

Donald Brydon (appointed 30 May 2003)

    29.6    —      —      —      0.1    —      29.7    —  

Philip Carroll (resigned 15 May 2003, re-appointed 20 October 2003)

    23.8    31.5    —      —      1.5    5.0    25.3    36.5

Sir Peter Gregson

    51.0    44.0    —      —      3.0    1.2    54.0    45.2

Nolan Karras**

    53.9    52.7    —      —      3.7    14.8    57.6    67.5

Allan Leighton (resigned 12 June 2002)

    —      5.5    —      —      —      0.0    —      5.5

Ewen Macpherson (resigned 25 July 2003)

    12.8    40.5    —      —      0.3    0.0    13.1    40.5

Nick Rose (appointed 19 February 2003)

    38.8    3.7    —      —      1.7    0.0    40.5    3.7
    
  
  
  
  
  
  
  

Total

    280.7    240.4    —      —      16.6    21.6    297.3    262.0
    
  
  
  
  
  
  
  

 

Other emoluments

 

* Judi Johansen’s base salary is disclosed on a pro-rata basis for the six months of the year which she served as a Board director. The bonus figure represents the annual incentive payment for the whole twelve months of the year 2003/04. The conversion rate used is £1=$1.694 being the average exchange rate during the year.

 

** Nolan Karras received emoluments in the US of £9,637 (2003 £16,807) in respect of services to the PacifiCorp and Utah advisory boards in the form of cash and shares. These amounts are included within ‘Fees’ in the above table.

 

(i) The emoluments of the highest paid director (Ian Russell) excluding pension contributions were £1,097,144 (2003 £995,280). In addition, gains on exercise of share options during the year by Ian Russell amounted to £46,416 (2003 £nil).

 

Option Grants in Last Fiscal Year PacifiCorp

 

     Individual Grants(a)

Name

    Number of
Securities
Underlying
Options
Granted (b)
    % of Total
Options
Granted to
Employees
in Fiscal
Year
   

Exercise
or Base
Price

£ or $/Sh

    Expiration
Date
    Potential Realizable Value
at Assumed Annual Rates
of Stock Price
Appreciation for Option
Term
               5%
    10%

Judith A. Johansen

    61,475    7.87    $ 24.40    May 9, 2013    $ 943,336    $ 2,390,598

Andrew P. Haller

    13,530    1.73      24.40    May 9, 2013      207,618      526,145

Michael J. Pittman

    38,729    4.96      24.40    May 9, 2013      594,298      1,506,067

A. Richard Walje

    17,751    2.27      24.40    May 9, 2013      272,390      690,289

Robert A. Klein

    10,860    1.37      24.40    May 9, 2013      166,647      422,316

 

(a) All options are for ScottishPower ADS. One ScottishPower ADS is equal to four ScottishPower Ordinary Shares. All options awarded were ScottishPower ExSOP grants, dated May 2, 2002.

 

(b) All standard options become exercisable for one-third of the shares covered by the option on each of the first three anniversaries of the grant date and all enhanced options become exercisable after the third anniversary of the grant date.

 

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Aggregated Option Exercises in 2004 and Year-End Option Values

 

     Shares
Acquired
on
Exercise
    Value
Realized
    Number of Securities
Underlying Unexercised
Options at
March 31, 2004 (a)
    Value of Unexercised
In-the-Money Options at
March 31, 2003

Name

          Exercisable
    Unexercisable
    Exercisable
    Unexercisable

Judith A. Johansen

    $ 13,500    $ 23,760    97,539    126,961    $ 329,245    $ 517,327

Andrew P. Haller

      98,925      219,475    —      47,370      —        175,641

Michael J. Pittman

      —        —      193,325    81,445      104,380      349,156

A. Richard Walje

      —        —      154,922    41,738      71,257      175,637

Robert A. Klein

      —        —      10,245    25,326      33,945      104,916

 

(a) All options are for ScottishPower ADS and include options granted under the PacifiCorp Stock Incentive Plan and the ExSOP.

 

Option Grants in the Last Year – Scottish Power plc

 

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Directors’ interests in ScottishPower shares

 

     Ordinary shares
    Share options (Executive¹)
    Share options (Sharesave)
    Long Term Incentive Plan
     31.3.04
    1.4.03
(or date
of ap-
pointment,
if later)
    31.3.04
   

1.4.03

(or date of

ap-pointment,
if later)

    31.3.04
   

1.4.03 (or

date of
ap-pointment,
if later)

    31.3.04
    1.4.03 (or date of
ap-pointment, if
later)
                       **Vested
    *Potential
    **Vested
    *Potential

Charles Miller Smith

    11,000    11,000    —      —      —      —      —      —      —      —  

Euan Baird

    114,363    110,770    —      —      —      —      —      —      —      —  

Mair Barnes

    1,400    1,400    —      —      —      —      —      —      —      —  

Donald Brydon (appointed 30 May 2003)

    3,000    —      —      —      —      —      —      —      —      —  

Philip Carroll (resigned 15 May 2003, re-appointed 20 October 2003)

    4,000    4,000    —      —      —      —      —      —      —      —  

Sir Peter Gregson

    1,257    1,186    —      —      —      —      —      —      —      —  

Nolan Karras

    39,297    36,346    —      —      —      —      —      —      —      —  

Nick Rose

    5,128    —      —      —      —      —      —      —      —      —  

Ian Russell

    •127,376    87,741    844,192    498,678    5,290    4,371    21,217    323,243    12,682    238,675

Charles Berry

    •23,506    22,553    422,884    255,443    2,941    2,941    11,968    161,734    —      124,328

Judi Johansen (appointed 1 October 2003)

    88,960    82,671    898,000    952,500    —      —      —      86,627    —      86,627

Simon Lowth (appointed 1 September 2003)

    —      —      —      —      —      —      —      —      —      —  

David Nish

    •13,964    12,742    517,234    296,636    2,509    2,509    10,880    197,602    —      137,954

 

None of the directors has an interest in ordinary shares which is greater than 1% of the issued share capital of the company.

 

¹ Includes options granted under the Executive Share Option Plan 2001 and, where applicable, the PacifiCorp Stock Incentive Plan.

 

* These shares represent, in each case, the maximum number of shares which the directors may receive, dependent on the satisfaction of performance criteria as approved by shareholders in connection with the Long Term Incentive Plan.

 

** These shares represent the number of shares the directors are entitled to receive when the LTIP award becomes exercisable calculated according to the performance criteria measured over the three-year performance period.

 

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• These shares include the number of shares which the directors hold in the Employee Share Ownership Plan, shown below.

 

     31.3.04
    Free shares
1.4.03
    31.3.04
    Partnership
shares
1.4.03
    31.3.04
    Matching
shares
1.4.03
    31.3.04
    Dividend
shares
1.4.03
    31.3.04
    Total
1.4.03

Ian Russell

    50    50    1,210    799    1,210    799    266    135    2,736    1,783

Charles Berry

    50    50    1,210    799    1,210    799    266    135    2,736    1,783

David Nish

    50    50    1,210    799    1,210    799    266    135    2,736    1,783

 

Between 31 March 2004 and 20 May 2004, Ian Russell, Charles Berry and David Nish each acquired 65 Partnership shares and 65 Matching shares as part of the regular monthly transactions of the Employee Share Ownership Plan; and Judi Johansen and Nolan Karras acquired 447.609 and 36.1664 ScottishPower ADSs (1,790 and 144 Ordinary shares) respectively as part of the PacifiCorp Compensation Reduction Plan. Additionally, 1,225 ADSs (4,900 ordinary shares) held by Judi Johansen in the form of Unvested Restricted Stock in the PacifiCorp Stock Incentive Plan, vested and became non-forfeitable on 24 April 2004 and, in accordance with the deferral election executed by Judi Johansen, were all immediately transferred into the PacifiCorp Compensation Reduction Plan. Otherwise, there have been no changes to the directors’ interests between 31 March 2004 and 20 May 2004.

 

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Severance Arrangements

 

The Company’s Executive Severance Plan provides severance benefits to certain executive-level employees who are designated by the Board, including the executive officers named in the Summary Compensation Table. Severance benefits are payable for voluntary terminations as a result of a “material alteration in position” that has a detrimental impact on the executive’s employment or involuntary terminations (including a Company-initiated resignation) for reasons other than cause. A “material alteration in position” includes:

 

(1) a material reduction in the scope of the executive’s duties and responsibilities or authority; or

 

(2) any reduction in base pay or a reduction in annualized base salary and target annual bonus of at least 15.0%, if the change is not due to a general reduction unrelated to the change in assignment.

 

The Executive Severance Plan also provides enhanced severance benefits in the event of certain terminations during the 24-month period following a qualifying change-in-control transaction. Executives designated by the Board are eligible for change-in-control benefits resulting from either a Company-initiated termination without “cause” or a resignation generally within two months after a “material alteration in position.” For this purpose, “cause” means the executive’s gross misconduct or gross negligence or conduct that indicates a reckless disregard for the consequences and has a material adverse effect on the Company or its affiliates, and “material alteration in position” means:

 

(3) a change in reporting relationship to a lower level;

 

(4) a material reduction in the scope of duties and responsibilities or in authority;

 

(5) relocation of work location to an office more than 100 miles from the executive’s office or more than 60 miles from the executive’s home; or

 

(6) a “material reduction in compensation,” which includes any reduction in annualized base salary or a reduction in the annualized base

 

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salary and target bonus opportunity combined of at least 15.0%, if the change is not due to a general reduction unrelated to the change in assignment.

 

If qualified for the enhanced severance benefits, an executive would receive severance pay in an amount equal to either two, two and one-half or three times the “annual cash compensation” of such executive, depending on the level set by the Board. “Annual cash compensation” is defined as annualized base salary, target annual incentive opportunity and annualized auto allowance in effect on the earlier of a material alteration or termination, whichever is greater. The Company is required to make an additional payment to compensate the executive for the effect of any excise tax. The executive would also receive continuation of subsidized health insurance from six to 24 months depending on length of service and a minimum of 12 months’ executive-level outplacement services.

 

The Executive Severance Plan does not apply to a termination for reasons of normal retirement, death or total disability or to a termination for cause or a voluntary termination other than as specified above. Except in the event of a change-in-control, the definition of cause is determined by the Company in its discretion and by the Board in the event of an appeal by the employee.

 

Other than in connection with a change in control, executives named in the Summary Compensation Table are eligible for a severance payment equal to one or two times the executive’s total cash compensation, six months of health insurance benefits and outplacement benefits. For this purpose, total cash compensation includes annualized base salary, the target annual incentive opportunity and the annualized auto allowance in effect on the earlier of a material alteration or termination.

 

Retirement Plans

 

The Company has adopted noncontributory defined benefit retirement plans for its employees, other than employees subject to collective bargaining agreements that do not provide for coverage. Certain executive officers, including the executive officers named in the Summary Compensation Table, are also eligible to participate in the Company’s nonqualified supplemental executive retirement plan. The following description assumes participation in both the retirement plans and the supplemental plan. Participants receive benefits at retirement payable for life based on length of service with the Company and average pay in the 60 consecutive months of highest pay out of the last 120 months, and pay for this purpose would include salary and annual incentive plan payments reflected in the Summary Compensation Table above. Benefits are based on 50.0% of final average pay plus up to an additional 15.0% of final average pay depending upon whether the Company meets certain performance goals set for each fiscal year by the Board. Participants may also elect actuarially equivalent alternative forms of benefits. Retirement benefits are reduced to reflect Social Security benefits as well as certain prior employer retirement benefits. Participants are entitled to receive full benefits upon retirement after age 60 with at least 15 years of service. Participants are also entitled to receive reduced benefits upon early retirement after age 55 or after age 50 with at least 15 years of service and five years of participation in the supplemental plan.

 

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Table of Contents

The following table shows the estimated annual retirement benefit payable upon retirement at age 60 as of March 31, 2004. Amounts in the table reflect payments from the retirement plan and the supplemental plan combined.

 

Estimated Annual Pension At Retirement (a)

 

     Years of Service (b)

Annual Pay at Retirement Date

    5
    15
    25
    30

$200,000

    $ 43,333    $ 130,000    $ 130,000    $ 130,000

  400,000

      86,667      260,000      260,000      260,000

  600,000

      130,000      390,000      390,000      390,000

  800,000

      173,333      520,000      520,000      520,000

  1,000,000

      216,667      650,000      650,000      650,000

 

(a) The benefits shown in this table assume that the individual will remain in the employ of the Company until retirement at age 60, that the plans will continue in their present form and that the Company achieves its performance goals under the supplemental plan in all years.

 

(b) The number of credited years of service used to compute benefits under the plans are three for Ms Johansen, three for Mr Haller, twenty four for Mr Pittman, Eighteen for Mr Walje and three for Mr Klein.

 

Retention Agreements

 

To retain executives who would otherwise have had the right to resign for any reason between 12 and 14 months following the ScottishPower Merger and qualify for the enhanced change-in-control supplemental retirement benefits, the Company entered into retention agreements with qualifying executives (Messrs. Pittman and Walje). Those retention agreements provided for the same enhanced supplemental retirement benefits if the qualifying executives satisfied the retention criteria. Qualifying executives were required to waive their rights to unilaterally resign and receive the enhanced supplemental retirement benefits, but they are now eligible to receive these same enhancements since they have continued employment through the established retention date of December 1, 2002.

 

These retention agreements also require qualifying executives to waive any rights to executive severance benefits, which they may have otherwise claimed due to material alterations in their positions as of the date of the retention agreement. Unless there is a subsequent “involuntarily termination” or “material alteration” in position as defined in the Severance Plan, this waiver of severance benefits applies to these executives through November 28, 2004. The executives’ waiver of severance benefits was in exchange for the enhanced supplemental retirement benefits described above, retention bonuses determined individually in the Company’s discretion for each executive and special stock option awards that vest over a three-year retention period at 25.0% for each of the first two years and 50.0% in the third year.

 

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Table of Contents
ITEM 6. OFFICERS AND DIRECTORS.

 

PART III.

 

(b) Stock Ownership.

 

Beneficial Owner

    Number of shares at
March 31, 2004 (a)(b)

Judith A. Johansen

    699,376

Andrew P. Haller

    164,092

Michael J. Pittman

    1,006,100

A. Richard Walje

    767,304

Barry G. Cunningham

    527,650

Robert A. Klein

    82,908

Nolan E. Karras

    33,601

Andrew N. MacRitchie

    19,082

Ian M. Russell

    172,440

Richard D. Peach

    11,654

Matthew R. Wright

    12,946

William D. Landels (c)

    212,365

All executive officers and directors as a group (16 persons) (d)

    4,752,939

 

(a) Includes ownership of (i) shares held by family members even though beneficial ownership of such shares may be disclaimed, (ii) shares held for the account of such persons pursuant to the Company’s Compensation Reduction Plan and the Company’s K Plus Savings and Stock Ownership Plan

 

(b) Options granted in ScottishPower ADS under the Company’s Stock Incentive Plan have been converted into options in Ordinary Shares in the above table. One ADS equates to four Ordinary Shares.

 

(c) Includes 188,764 Ordinary Shares subject to options that became exercisable upon Mr Landel’s retirement in April 2004.
(d) Includes 62,748 Ordinary Shares subject to options which became exercisable upon Mr Moir’s retirement in March 2004.

 

See also PacifiCorp Form 10-K, SEC File No. 001-05152 (filed May 26, 2004) and Scottish Power plc Form 20 - F, SEC File No. 001-14676 (filed June 25, 2004).

 

ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS.

 

The PacifiCorp Foundation for Learning is a qualified 501(c)(3) non-profit foundation created in 1988 and originally endowed by contributions from PacifiCorp and its subsidiaries. More recently, PacifiCorp made contributions of $3 million in March 2003 and $1 million in May 2004. Administrative expenses incurred by the Foundation, including salaries, travel expenses, supplies, etc., are charged to corporate cost center 11758. Each month the Foundation receives an invoice from PacifiCorp for all charges to CC11758, and payment is made to PacifiCorp from the Foundation’s checking account at Wells Fargo Bank. However, the Foundation is NOT charged “rent” for use of space and computer equipment. The Foundation IS charged for time spent by

 

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Table of Contents

PacifiCorp personnel in accounting, the tax department and occasional administrative assistance.

 

For fiscal year 2004, the Foundation was charged and paid PacifiCorp for the following:

 

Labor

    -         $ 206,739

Legal fees

    -         $ 10,958

Prof. fees

    -         $ 30,830

Depreciation

    -         $ 503

Travel/meetings

    -         $ 10,721

Books/subscrip.

    -         $ 3,446

Postage/freight

    -         $ 565

Computer systems

    -         $ 7,300

Office supplies

    -         $ 765

Membership fees

    -         $ 2,020

Total

              $ 276,327

 

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Table of Contents
ITEM 8. SERVICES, SALES AND CONSTRUCTION CONTRACTS.

 

PART I.

 

Affiliated Services Detail

For the Fiscal Year 2004

                 
                
PacifiCorp Environmental Remediation   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
1040         

Components

         

Labor

    699000    100.00    215,310.85  

Semi Tractor

    620025    0.00    0.00  

Worker’s Comp & Occ Injuries

    690001    0.00    (294.47 )

Current Pension

    690002    0.00    29,377.08  

AD&D

    690004    0.00    125.82  

Admin Costs for 401K Program

    690009    0.00    1,543.47  

Pension Admin

    690010    0.00    912.81  

Current FAS 106

    690011    0.00    27,907.47  

Non-Current FAS106

    690012    0.00    0.00  

FAS 112

    690013    0.00    2,386.91  

Unused Leave

    690016    0.00    5,486.46  

Other Salary Overhead Assessment

    690019    0.00    2,256.13  

LTD Assessments

    690021    0.00    2,390.00  

Management Fee

    690005    0.00    36,261.70  

Facilities Services

    690006    0.00    83,064.74  

IT Services Allocations

    690007    0.00    166,399.31  

IT Services Allocations

    690025    0.00    76,014.00  

Shared Services Chargebacks

    690026    0.00    84,181.80  

PC Supporting Services

    690031    0.00    17,778.60  

CBS Accounting Services

    690032    0.00    17,555.04  

PERCO Service Revenue

    364000    1,295,142.88    0.00  
         
  

Sub-total

         1,295,242.88    768,657.72  

Interwest Mining

2010

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        

Labor

    699000    235,544.40    87,060.86  

Worker’s Comp & Occ Injuries

    690001    0.00    (993.87 )

Current Pension

    690002    0.00    99,147.75  

AD&D

    690004    0.00    424.78  

Admin Costs for 401K Program

    690009    0.00    5,209.33  

Pension Admin

    690010    0.00    3,080.69  

Current FAS 106

    690011    0.00    94,187.61  

Non-Current FAS106

    690012    0.00    0.00  

FAS 112

    690013    0.00    8,055.93  

Unused Leave

    690016    0.00    18,516.79  

Other Salary Overhead Assessment

    690019    0.00    7,614.39  

SERP Assessments

    690020    0.00    72,743.44  

LTD Assessments

    690021    0.00    8,066.31  

Facilities Services

    690006    0.00    53,721.90  

IT Allocations

    690007    0.00    159,016.40  

Incentive Assessments

    690022    0.00    0.00  

IT Services Allocations

    690025    0.00    285,317.20  

Shared Services Chargebacks

    690026    0.00    28,390.20  

PC Supporting Services

    690031    0.00    32,594.10  

CBS Accounting Services

    690032    0.00    9,224.26  

Procurement

    690034    0.00    0.00  
         
  

Sub-total

         235,544.40    971,378.07  

Glenrock Coal

2030

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        

Labor

    699000    0.00    0.00  

IT Allocations

    690007    0.00    0.00  

Fuel Purchased/Sold

    1201XX    0.00    0.00  
         
  

Sub-total

         0.00    0.00  

Centralia Mining

2040

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        

Labor

    699000    0.00    0.00  

IT Allocations

    690007    0.00    0.00  

Fuel Purchased/Sold

    1201XX    0.00    0.00  
         
  

Sub-total

         0.00    0.00  

Energy West Mining

2050

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        

Labor

    699000    0.00    624.60  

IT Allocations

    690007    0.00    0.00  

PC Supporting Services

    690031    0.00    0.00  

Fuel Purchased/Sold

    1201XX    120,589,283.35    0.00  
         
  

Sub-total

         120,589,283.35    624.60  

 

Affi Int Detail FY 2004

 

78

Table of Contents

Affiliated Services Detail

For the Fiscal Year 2004

                 

PacifiCorp Group Holdings

3000, 4350, 4900

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        
        
        

Labor

    699000    0.00    215,685.65  

Facilities Services

    690006    0.00    10,803.25  

IT Allocations

    690007    0.00    16,611.95  

SERP Assessments

    690020    0.00    0.00  

LTD Assessments

    690021    0.00    0.00  

IT Services Allocations

    690025    0.00    12,710.52  

Shared Services Chargebacks

    690026    0.00    23,305.39  

CBS Accounting Services

    690032    0.00    4,349.72  
         
  

Sub-total

         0.00    283,466.48  

PacifiCorp Financial Services

3500, 3510, 3520

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        
        
        

Labor

    699000    0.00    77,532.56  

Management Fee

    690005    0.00    177,796.70  

Facilities Services

    690006    0.00    23,482.50  

IT Allocations

    690007    0.00    13,573.65  

LTD Assessments

    690021    0.00    0.00  

Incentive Assessment

    690022    4,500.00    0.00  

PC Supporting Services

    690031    0.00    2,963.10  

IT Services Allocations

    690025    0.00    2,848.80  

Shared Services Chargebacks

    690026    0.00    636.45  

CBS Accounting Services

    690032    0.00    19.38  
         
  

Sub-total

         4,500.00    298,853.14  

PacifiCorp Power Marketing

4000

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        
        
        

Labor

    699000    83.22    3,957,984.24  

Management Fee

    690005    0.00    585,876.20  

Facilities Services

    690006    0.00    0.00  

IT Allocations

    690007    0.00    820,700.09  

SERP Assessments

    690020    0.00    0.00  

LTD Assessments

    690021    0.00    0.00  

IT Services Allocations

    690025    0.00    1,436,083.46  

PC Supporting Services

    690031    0.00    66,064.50  

CBS Accounting Services

    690032    0.00    8,774.78  

Shared Services Chargebacks

    690026    0.00    145,634.93  

T-PPM Long-term Wheeling

    498803    0.00    3,297,384.90  

T-PPM Imbalance Settlements

    498805    0.00    (94,364.73 )

Interco Transmission Line Loss Revenue

    302701    0.00    169,881.88  

Interco Transmission Firm Wheeling Revenue

    302801    0.00    749,250.00  

Interco Transmission Non-Firm Wheeling Revenue

    302802    0.00    23,243.20  

Interco Purchased Power Imbalance

    505901    0.00    254,583.31  

Corporate Legal

    500850    0.00    0.00  

Rent Expense

    547851    0.00    0.00  
         
  

Sub-total

         83.22    11,421,096.76  

Klamath Energy

4003

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        
        
        

Labor

    699000    0.00    0.00  

Management Fee

    690005    0.00    0.00  

Facilities Services

    690006    0.00    0.00  

CBS Accounting Services

    690032    0.00    0.00  
         
  

Sub-total

         0.00    0.00  

Klamath Generation

4004

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        
        
        

Labor

    699000    0.00    0.00  

Management Fee

    690005    0.00    0.00  

Facilities Services

    690006    0.00    0.00  

CBS Accounting Services

    690032    0.00    0.00  
         
  

Sub-total

         0.00    0.00  

West Valley Leasing

4005

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        
        
        

Rent Expense

    547851    17,005,015.52    0.00  
         
  

Sub-total

         17,005,015.52    0.00  

West Valley Generation

4006

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
        
        
        
        

Labor

    699000    0.00    0.00  

Management Fee

    690005    0.00    0.00  

Facilities Services

    690006    0.00    0.00  

CBS Accounting Services

    690032    0.00    0.00  
         
  

Sub-total

         0.00    0.00  

 

Affi Int Detail FY 2004

 

79

Table of Contents

Affiliated Services Detail

For the Fiscal Year 2004

               

Enstor, Inc.

4008

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

        
        
        
        

Labor

    699000    0.00    0.00

Management Fee

    690005    0.00    0.00

Facilities Services

    690006    0.00    0.00

CBS Accounting Services

    690032    0.00    0.00
         
  

Sub-total

         0.00    0.00

Enstor Operating Co. LLC

4017

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

        
        

Labor

    699000    0.00    2,271.41

Management Fee

    690005    0.00    0.00

Facilities Services

    690006    0.00    0.00

IT Allocations

    690007    0.00    14,034.90

IT Services Allocations

    690025    0.00    39,953.10

Shared Services Chargebacks

    690026    0.00    16,811.30

CBS Accounting Services

    690032    0.00    663.30
         
  

Sub-total

         0.00    73,734.01

Katy Storage and Transportation, LP

Components

   

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

        
        

IT Ntwk & Phone Svc

    690007    0.00    8,293.35

IT Systems

    690025    0.00    23,608.65

Shrd Svcs Chrgeback

    690026    0.00    9,933.95

CBS Accounting Srvs

    690032    0.00    391.95
    
  
  

Sub-total

              42,227.90

Pacific Wind Dev., LLC

4020

Components

    SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES
        
        

Labor

    699000    0.00    2,145.00

Management Fee

    690005    0.00    0.00

Facilities Services

    690006    0.00    0.00

CBS Accounting Services

    690032    0.00    0.00
         
  

Sub-total

         0.00    2,145.00

PPM Colorado Wind Ventures

4028

Components

    SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES
        
        

Labor

    699000    0.00    577.15
         
  

Sub-total

         0.00    577.15

PacifiCorp Trans

4100

Components

    SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES
        
        

Labor

    699000    0.00    20,104.66

Management Fee

    690005    0.00    3,282.28

IT Allocations

    690007    0.00    362.15

Vehicle Lease Assessment

    690024    0.00    0.00

IT Services Allocations

    690025    0.00    2,018.80

Shared Services Chargebacks

    690026    0.00    345.05

CBS Accounting Services

    690032    0.00    19.38
         
  

Sub-total

         0.00    26,132.32

PacifiCorp Dev Crp Gen-TR

4760

Components

    SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES

Labor

    699000    0.00    0.00
         
  
          0.00    0.00

Pacificorp Energy Ventures, Inc.

4800

Components

    SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES

Labor

    699000    0.00    0.00
         
  
          0.00    0.00

PacifiCorp Holdings Inc

5000

Components

    SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES

Labor

    699000    0.00    32,082.87
         
  

Sub-total

         0.00    32,082.87

Pacific Klamath Energy

5320

Components

    SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES
        
        

Labor

    699000    0.00    1,369.93

Management Fee

    690005    0.00    42,044.65

IT Allocations

    690007    0.00    32,061.30

LTD Assessments

    690021    0.00    0.00

IT Services Allocations

    690025    0.00    131,455.97

PC Supporting Services

    690031    0.00    1,869.75

CBS Accounting Services

    690032    0.00    1,443.45

ROW/Property Mgt Allocation

    690029    0.00    0.00

Shared Services Chargebacks

    690026    0.00    21,997.85
         
  

Sub-total

         0.00    232,242.90

 

Affi Int Detail FY 2004

 

80

Table of Contents

Affiliated Services Detail

For the Fiscal Year 2004

                      

Pacific Minerals Inc. / Bridger Coal

N/A

Components

        

SAP Acct

   

BY AFFILIATE

TO UTILITY

-SERVICES

   

BY UTILITY

TO AFFILIATE

-SERVICES

  
           
           
           
           

Fuel Purchased/Sold

         1201XX    65,665,615.10    0.00  

Benefits, Mgmt Fee, & Misc. Billings

         116010    0.00    14,833,277.95  

Royalty Billings

         116011    0.00    0.00  
              
  

Sub-total

              65,665,615.10    14,833,277.95  

Trapper Mining

N/A

Components

         SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES
  

Fuel Purchased/Sold

         1201XX    8,132,289.64    0.00  
              
  

Sub-total

              8,132,289.64    0.00  

PacifiCorp Foundation

N/A

Components

         SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES
  

Labor

         116020    0.00    179,093.60  

Benefits

         116020    0.00    17,553.01  

Misc. Other Expenses

         116020    0.00    97,640.07  
              
  

Sub-total

              0.00    294,286.68  

ScottishPower - N/A

N/A

Components

         SAP Acct
   

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES
  

Labor

         116120    0.00    720,085.81  

Labor

         210720    7,817,615.30    0.00  

Misc. Other Expenses

         116120    0.00    0.00  
              
  

Sub-total

              7,817,615.30    720,085.81  

Grand Summary

             

BY AFFILIATE
TO UTILITY

-SERVICES

    BY UTILITY
TO AFFILIATE
-SERVICES
  

Labor

         699000    235,727.62    4,612,749.78  

Vehicle/Equipment

    b    699010    0.00    0.00  

Worker’s Comp & Occ Injuries

    b    690001    0.00    (1,288.34 )

Current Pension

    b    690002    0.00    128,524.83  

AD&D

    b    690004    0.00    550.60  

Admin Costs for 401K Program

    b    690009    0.00    6,752.80  

Pension Admin

    b    690010    0.00    3,993.50  

Current FAS 106

    b    690011    0.00    122,095.08  

Non-Current FAS106

    b    690012    0.00    0.00  

FAS 112

    b    690013    0.00    10,442.84  

Unused Leave

    b    690016    0.00    24,003.25  

Other Salary Overhead Assessment

    c    690019    0.00    9,870.52  

LTD Assessments

    b    690021    0.00    10,456.31  

Management Fee

    c    690005    0.00    845,261.53  

Facilities Services

    c    690006    0.00    171,072.39  

IT Network & Phone Services

    c    690007    0.00    1,222,759.75  

SERP Assessments

    b    690020    0.00    72,743.44  

Incentive Assessments

    c    690022    4,500.00    0.00  

Vehicle Lease Assessments

    c    690024    0.00    0.00  

IT Services Allocations

    c    690025    0.00    1,986,401.85  

Shared Services Chargebacks

    c    690026    0.00    321,302.97  

ROW/Property Mgt Allocation

    c    690029    0.00    0.00  

PC Supporting Services

    c    690031    0.00    121,270.05  

CBS Accounting Services

    c    690032    0.00    42,049.31  

Procurement

    c    690034    0.00    0.00  

T-PPM Long-term Wheeling

         498803    0.00    3,297,384.90  

T-PPM Imbalance Settlements

         499805    0.00    (94,364.73 )

Interco Transmission Line Loss Revenue

         302701    0.00    169,881.88  

Interco Transmission Firm Wheeling Revenue

         302801    0.00    749,250.00  

Interco Transmission Non-Firm Wheeling Revenue

         302802    0.00    23,243.20  

Interco Purchased Power Imbalance

         505901    0.00    254,583.31  

Corporate Legal

         500850    0.00    0.00  

Rent Expense

         547581    17,005,015.52    0.00  

Fuel Purchased/Sold

         1201XX    194,387,188.09    0.00  

Benefits, Mgmt Fee, & Misc. Billings

         116010    0.00    14,833,277.95  

Royalty Billings

         116011    0.00    0.00  

Pacificorp Foundation

         116020    0.00    294,286.68  

Scottish Power - A/R

         116120    0.00    720,085.81  

Scottish Power - A/P

         210720    7,817,615.30    0.00  

PERCO Service Revenue

         364000    1,295,142.88    0.00  
              
  

Total

              220,745,189.41    29,958,641.46  

Total of affiliates

              220,745,189.41    29,958,641.46  
               0.00    0.00  

 

Affi Int Detail FY 2004

 

81

Table of Contents

Part II. Does any system company have a contract to purchase services or goods from any affiliate (other than a system company), or from a company in which any officer or director of the receiving company is a partner or owns 5% or more of any class of equity securities?

 

No

 

If the answer to Part II is yes, and the contract has not already been reported in Item 6, report such contracts in substantially the same detail as specified for Part I, also describing the affiliation.

 

Part III. Does any system company employ any other person for the performance on a continuing basis of management, supervisory or financial advisory services?

 

No

 

If the answer to Part III is yes, state the name of each such person, describe the contract, and the scope of the services and the annual consideration.

 

82

Table of Contents
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES.

 

ScottishPower UK Holdings Limited, a company organized under the laws of Scotland, whose location and business address is 1 Atlantic Quay Glasgow G2 8SP Scotland UK, is a foreign utility company, which is an intermediate holding company for Scottish Power plc’s U.K. interest in the generation, transmission and distribution business and associated services. Listed below are also the other FUCOs held under ScottishPower UK Holdings Limited, and EWGs in the ScottishPower System.

 

In this section a conversion ratio of £1 to $1.838 has been used

 

Part I(a)

 

Name of Company and
Location

   

Holds Interest in
Company

   

Descrip. of Facilities

   

Aggregate Investment
Amount £ - $

   

Retained

Earnings as of 3/31/03

   

Company Debt/Eq.

Ratio 3/31/03**

ScottishPower UK Holdings Limited (FUCO) - 1 Atlantic Quay Glasgow G2 8SP Scotland UK    Scottish Power plc    Holding Company   

£596 million

$1,095 million

   

£190 million

$349 million*

    0.00
Scottish Power UK plc (FUCO) - 1 Atlantic Quay Glasgow G2 8SP Scotland UK    Scottish Power UK Holdings Ltd    Holding Company   

£592 million

$1,088 million

   

£14 million

$26 million*

    2.71

SP Manweb plc England and Wales (FUCO) -

3 Prenton Way Prenton

United Kingdom CH43 3ET

    Scottish Power Investments Limited    Ownership & operation of distribution network   

£554

million

$1,018 million

   

£648 million

$1,191 million*

    0.07
Flying Cloud Power Partners, LLC – Iowa (EWG)- 1125 NW Couch St, Suite 700, Portland, Oregon 97209    PPM Energy, Inc    44 MW wind generation project – (UC)    $46.9 million    $.8 million   

98% Debt

2% Equity

Klamath Energy LLC Oregon (EWG) -

1125 NW Couch St, Suite 700, Portland, Oregon 97209

    PPM Energy, Inc    100 MW gas fired peaking plant    $50.8 million    $.1 million   

102% Debt

(2%) Equity

 

83

Table of Contents

Klondike Wind Power LLC - Oregon (EWG)-

1125 NW Couch St, Suite 700, Portland, Oregon 97209

    PPM Energy, Inc    24 MW wind generation plant    $18.1 million    $.5 million   

97% Debt

3% Equity

Moraine Wind LLC

Minnesota (EWG) -

1125 NW Couch St, Suite 700, Portland, Oregon 97209

    PPM Energy, Inc    51 MW wind generation plant    $55.3 million    $1.1 million   

98% Debt

2% Equity

Phoenix Wind Power LLC

California (EWG) -

1125 NW Couch St, Suite 700, Portland, Oregon 97209

    PPM Energy, Inc    3 MW wind generation plant    $2.0 million    $.4 million   

92% Debt

8% Equity

Mountain View Power Partners III LLC (EWG) - 1125 NW Couch St, Suite 700, Portland, Oregon 97209    PPM Energy Inc    22 MW wind generation plant    $32.8 million    $.1 million   

99.7% Debt

0.3% Equity

Colorado Green Holdings LLC (EWG) - 1125 NW Couch St, Suite 700, Portland, Oregon 97209    Colorado Wind Ventures LLC    162.0 MW wind generation project    $97.8 million    $.1 million   

60% Debt

40% Equity

PPM Alta Mesa LLC (EWG) -

1125 NW Couch St, Suite 700, Portland, Oregon 97209 Ivanhoe Wind Energy LLC (EWG) - 1125 NW Couch St, Suite 700, Portland, Oregon 97209

   

PPM Energy Inc

 

 

 

PPM

   

40 MW wind generation project

 

 

 

150 MW

   

N/A

 

 

 

 

N/A

   

N/A

 

 

 

 

N/A

   

N/A

 

 

 

 

N/A

Ivanhoe Wind Energy LLC (EWG) 1125 NW couch St, Suite 700, Portland, Oregon 97209    PPM Energy Inc    150 MW wind generation    N/A    N/A    N/A

 

84

Table of Contents
Mountain View Green LLC (EWG) - 1125 NW Couch St, Suite 700, Portland, Oregon 97209    PPM Energy Inc    N/A    N/A    N/A    N/A

 

* Retained earnings have been calculated under UK GAAP as at the balance sheet date 31 March 2003

 

** The company debt/equity ratios have been calculated on the basis of excluding any short term bank and other deposits held.

 

Part I (b)

 

As of March 31, 2004, the aggregate capital invested directly or indirectly by ScottishPower plc in SPUK Holdings, SPUK or SP Manweb is set forth below. ScottishPower plc does not have aggregate capital invested in the EWGs.

 

Name of Company

    Common stock investment
    Loans £ - $
   Guarantees £ - $
Scottish Power UK Holdings Limited (FUCO)    £596 million
$1,095 million		    N/A   N/A

Scottish Power UK plc (FUCO)

Scotland

    £592 million
$1,088 million		    £1,014.75* million
$1,865.11* million		   N/A
SP Manweb plc England and Wales (FUCO)    £554 million
$1,018 million		    N/A   £50 million
$91.9 million

 

* Direct loans from Scottish Power plc to Scottish Power UK plc and ScottishPower NA 1 Ltd, ScottishPower NA2 Ltd to Scottish Power UK plc

 

As of March 31, 2004, there was no debt or other financial obligations of an affiliate EWG, SPUK Holdings, SPUK or SP Manweb for which there is recourse, directly or indirectly to Scottish Power plc or another system company (other than an EWG or FUCO).

 

During the reporting period there were no transfers of assets from any system company (other that an EWG or FUCO) to an affiliate EWG, SPUK Holdings, SPUK or SP Manweb.

 

Part 1(c)

 

The ratio of debt to common equity for the affiliate EWGs, SPUK Holdings, SPUK and SP Manweb is set forth below.

 

85

Table of Contents

Name of Company

    DEBT
   Equity
   Ratio of debt
to equity
   

Retained

Earnings

ScottishPower UK Holdings Limited

    £0 million
$0 million*		   £786 million
$1,445 million*		   n/a    £190 million
$349 million**

Scottish Power UK plc

    £2,743 million
$5,042 million*		   £1,012 million
$1,860 million*		   2.71    £14 million
$26 million**

SP Manweb plc

    £50 million
$92 million*		   £711 million
$1,307 million*		   0.07    £648 million
$1,191 million**

Flying Cloud Power Partners, LLC

    $46.1 million   $.8 million   98% Debt
2% Equity		    $.8 million

Klamath Energy LLC

    $51.8 million   ($1.0 million)   102% Debt
(2%) Equity		    $.1 million

Klondike Wind Power LLC

    $17.5 million   $.6 million   97% Debt
3% Equity		    $.5 million

Moraine Wind LLC

    $54.2 million   $1.1 million   98% Debt
2% Equity		    $1.1 million

Phoenix Wind Power LLC

    $1.8 million   $.2 million   92% debt
8% Equity		    ($.4 million)

Mountain View Power Partners III LLC

    $32.7 million   $.1
million		   99.7% Debt
0.3% Equity		    $.1 million

Colorado Green Holdings LLC

    $117.0 million   $78.5 million   60% Debt
40% Equity		    $.1 million

PPM Alta Mesa LLC

    N/A   N/A   N/A    N/A

Ivanhoe Wind Energy LLC

    N/A   N/A   N/A    N/A

Mountain View Green LLC

    N/A   N/A   N/A    N/A

 

* As at 31 March 2003 under UK GAAP (to be updated by amendment upon receipt of 2004 UK GAAP data).

 

** Retained earnings have been calculated under UK GAAP as at the balance sheet date 31 March 2003 (to be updated by amendment upon receipt of 2004 UK GAAP data).

 

Key terms: FUCO means Foreign Utility Company - EWG means Exempt Wholesale Generator

 

Part I (d) As of the end of the reporting period there was one service contract between Scottish Power UK plc and PacifiCorp. See Attachment 1 to Form U-33-S, SEC File No. 73-00092 (filed July 30, 2004).

 

Part II Organization chart showing relationship of each EWG and FUCO to other system companies.

 

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FUCOs

 

ScottishPower plc

Scottish Power UK Holdings Limited

Scottish Power UK plc

ScottishPower Investments Limited

SP Manweb plc

 

EWGs

 

ScottishPower plc

ScottishPower NA 1 Ltd

ScottishPower NA 2 Ltd

PacifiCorp Holdings Inc

PPM Energy, Inc.

Flying Cloud Power Partners, LLC

Klamath Energy LLC

Klondike Wind Power LLC

Moraine Wind LLC

Phoenix Wind Power LLC

Mountain View Power Partners III

Colorado Green Holdings LLC

PPM Alta Mesa LLC

Ivanhoe Wind Energy LLC

Mountain View Green LLC

 

Part III State aggregate investment in EWGs and FUCOS, respectively. Also state ratio of aggregate investment to the aggregate capital investment of the Scottish Power plc in PacifiCorp. ScottishPower’s consolidated retained earnings calculated in accordance with US GAAP as of March 31, 2004 were $3,860 million.

 

Investment in EWGs (USD $ 303.7 million)

Investment in FUCOS (USD $2,106 million)

 

Aggregate Investment in EWGs and FUCOs - USD $ 2409.7 million

 

Aggregate Capital Investment in PacifiCorp - USD $ 3,035 million

 

$ 2,409.7 million

——————— = Ratio 79.4 %

$ 3,035 million

 

ITEM 10 FINANCIAL STATEMENTS AND EXHIBITS.

 

Exhibit A    Financial Statements incorporated herein by reference are as follows:

 

The financial statements of Scottish Power plc, Scottish Power UK Holdings Limited, ScottishPower NA 1 Limited, ScottishPower NA 2 Limited, PacifiCorp Holdings Inc., PacifiCorp Int’l Group Holdings Company, and, PPM Energy, Inc. and their subsidiaries, listed under ITEM 8 of their combined Annual Report on Form 20-F for the year ended March 31, 2004. See also PacifiCorp Form 10-K, SEC File No. 001-05152 (filed May 26, 2004) and Scottish Power plc Form 20-F, SEC File No. 001-14676 (filed June 25, 2004).

 

Exhibit B

 

Articles of organization and bylaws for each subsidiary. (Filed on Form SE)

 

Exhibit C

 

See Exhibit C of Form U5S filed 7/31/2001 File No. 001-14676

 

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Exhibit D

        D-1    Tax Allocation Agreement
        D-2    Summary of Indebtedness and Tax Worksheets (to be filed by amendment upon finalization of PHI federal income tax returns).

 

Exhibit E

 

None

 

Exhibit F

 

Financial Statements – See also Form 20-F, SEC File No. 001-14676 (filed June 25, 2004).

 

Exhibit G

 

Organization chart as at March 31, 2004

 

Exhibit H

 

Separate Financials for EWGs and FUCOs

 

 

See also Form 20F, SEC File No. 001-14676 (filed June 25, 2004).

 

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SIGNATURE

 

Each undersigned system company has duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized pursuant to the requirements of the Public Utility Holding Company Act of 1935. The signature of each undersigned company shall be deemed to relate only to matters having reference to such company or its subsidiaries.

 

ScottishPower plc

By

  

/s/ David T. Nish

   

David T. Nish

   

Finance Director

 

Attest:

/s/ Donald McPherson

Donald McPherson

Assistant Secretary

 

Verification

 

The undersigned, being duly sworn, deposes and says that he has duly executed the attached annual report dated August 2, 2004, for and on behalf of ScottishPower; that he is the Finance Director of such company; and that all action by stockholders, directors, and other bodies necessary to authorize deponent to execute and file such instrument has been taken. Deponent further says that he is familiar with such instrument and the contents thereof, and that the facts therein set forth are true to the best of his knowledge, information and belief.

 

/s/ David T. Nish

David T. Nish

 

Subscribed and sworn to before me this 2nd day of August, 2004

/s/ Donald McPherson

My commission expires: - N/A

 

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