BEFORE THE WASHINGTON UTILITIES AND TRANSPORTATION COMMISSION In the Matter of the Application of ) PACIFICORP for an order establishing ) DOCKET UE-981573 compliance with RCW 80.08.040 with ) respect to its proposal to issue and ) sell or exchange its No Par Serial ) ORDER ESTABLISHING Preferred Stock in an amount not to ) COMPLIANCE exceed $250,000,000. ) . . . . . . . . . . . . . . . . . . . . ) On December 16, 1998, PacifiCorp (the “Company”) filed its application in the named matter requesting that the Commission confirm that the Company has complied with the requirements of RCW 80.08.040, as amended, with respect to its proposal to issue and sell or exchange, from time to time, shares of its No Par Serial Preferred Stock in an amount not to exceed $250,000,000. The application is filed pursuant to RCW Chapter 80 and WAC 480-146-080. FINDINGS THE COMMISSION FINDS: 1. PacifiCorp, an Oregon corporation which conducts its electric utility operations in the State of Washington under the assumed business name of Pacific Power & Light Company, is a public service company subject to the jurisdiction of this Commission under the provisions of Chapter 80.08 RCW. 2. As to form, the application herein meets the requirements of Chapter 80.08 RCW and the rules and regulations of the Commission adopted pursuant thereto. 3. The Company's application in this Docket contains (a) a description of the purposes for which the proposed securities will be issued, certified by an authorized officer; (b) a description of the proposed issuances, including the terms of financing; and (c) a statement as to why the proposed transactions are in the public interest. 4. An order consistent with the above findings should be entered. DOCKET UE-981573 PAGE 1 O R D E R THE COMMISSION ORDERS: 1. PacifiCorp has complied with the requirements of RCW 80.08.040 with respect to its proposal to issue and sell, from time to time, shares of its No Par Serial Preferred Stock in an amount not to exceed $250,000,000. 2. PacifiCorp shall file, as soon as available: a. The Report of Securities Issued required by RCW Chapter 80. b. Verified copies of any Prospectus relating to the Preferred Stock within five days of submitting such filings to the Securities and Exchange Commission. 3. This order shall in no way affect the authority of this Commission over rates, service, accounts, valuations, estimates or determination of costs, or any matters whatsoever that may come before it, nor shall anything herein be construed as an acquiescence in any estimate or determination of costs, or any valuation of property claimed or asserted. DATED at Olympia, Washington, and effective this th day of January, 1999. WASHINGTON UTILITIES AND TRANSPORTATION COMMISSION CAROLE J. WASHBURN Secretary