FERC Form

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

GENERAL INFORMATION

Purpose
FERC Form No. 1 (FERC Form 1) is an annual regulatory requirement for Major electric utilities, licensees and others (18 C.F.R. § 141.1). FERC Form No. 3-Q ( FERC Form 3-Q) is a quarterly regulatory requirement which supplements the annual financial reporting requirement (18 C.F.R. § 141.400). These reports are designed to collect financial and operational information from electric utilities, licensees and others subject to the jurisdiction of the Federal Energy Regulatory Commission. These reports are also considered to be non-confidential public use forms.
Who Must Submit
Each Major electric utility, licensee, or other, as classified in the Commission’s Uniform System of Accounts Prescribed for Public Utilities, Licensees, and Others Subject To the Provisions of The Federal Power Act (18 C.F.R. Part 101), must submit FERC Form 1 (18 C.F.R. § 141.1), and FERC Form 3-Q (18 C.F.R. § 141.400).
Note: Major means having, in each of the three previous calendar years, sales or transmission service that exceeds one of the following:
1. one million megawatt hours of total annual sales,
2. 100 megawatt hours of annual sales for resale,
3. 500 megawatt hours of annual power exchanges delivered, or
4. 500 megawatt hours of annual wheeling for others (deliveries plus losses).

What and Where to Submit

Submit FERC Form Nos. 1 and 3-Q electronically through the eCollection portal at https://eCollection.ferc.gov, and according to the specifications in the Form 1 and 3-Q taxonomies.
The Corporate Officer Certification must be submitted electronically as part of the FERC Forms 1 and 3-Q filings.
Submit immediately upon publication, by either eFiling or mail, two (2) copies to the Secretary of the Commission, the latest Annual Report to Stockholders. Unless eFiling the Annual Report to Stockholders, mail the stockholders report to the Secretary of the Commission at:
Secretary
Federal Energy Regulatory Commission 888 First Street, NE
Washington, DC 20426

For the CPA Certification Statement, submit within 30 days after filing the FERC Form 1, a letter or report (not applicable to filers classified as Class C or Class D prior to January 1, 1984). The CPA Certification Statement can be either eFiled or mailed to the Secretary of the Commission at the address above.

The CPA Certification Statement should:

Attest to the conformity, in all material aspects, of the below listed (schedules and pages) with the Commission's applicable Uniform System of Accounts (including applicable notes relating thereto and the Chief Accountant's published accounting releases), and

Be signed by independent certified public accountants or an independent licensed public accountant certified or licensed by a regulatory authority of a State or other political subdivision of the U. S. (See 18 C.F.R. §§ 41.10-41.12 for specific qualifications.)

Schedules	Pages
Comparative Balance Sheet	110-113
Statement of Income	114-117
Statement of Retained Earnings	118-119
Statement of Cash Flows	120-121
Notes to Financial Statements	122-123

The following format must be used for the CPA Certification Statement unless unusual circumstances or conditions, explained in the letter or report, demand that it be varied. Insert parenthetical phrases only when exceptions are reported.
“In connection with our regular examination of the financial statements of [COMPANY NAME] for the year ended on which we have reported separately under date of [DATE], we have also reviewed schedules [NAME OF SCHEDULES] of FERC Form No. 1 for the year filed with the Federal Energy Regulatory Commission, for conformity in all material respects with the requirements of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts and published accounting releases. Our review for this purpose included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.
Based on our review, in our opinion the accompanying schedules identified in the preceding paragraph (except as noted below) conform in all material respects with the accounting requirements of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts and published accounting releases.” The letter or report must state which, if any, of the pages above do not conform to the Commission’s requirements. Describe the discrepancies that exist.
Filers are encouraged to file their Annual Report to Stockholders, and the CPA Certification Statement using eFiling. Further instructions are found on the Commission’s website at https://www.ferc.gov/ferc-online/ferc-online/frequently-asked-questions-faqs-efilingferc-online.
Federal, State, and Local Governments and other authorized users may obtain additional blank copies of FERC Form 1 and 3-Q free of charge from https://www.ferc.gov/general-information-0/electric-industry-forms.

When to Submit
FERC Forms 1 and 3-Q must be filed by the following schedule:
1. FERC Form 1 for each year ending December 31 must be filed by April 18th of the following year (18 CFR § 141.1), and
2. FERC Form 3-Q for each calendar quarter must be filed within 60 days after the reporting quarter (18 C.F.R. § 141.400).
Where to Send Comments on Public Reporting Burden.
The public reporting burden for the FERC Form 1 collection of information is estimated to average 1,168 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data-needed, and completing and reviewing the collection of information. The public reporting burden for the FERC Form 3-Q collection of information is estimated to average 168 hours per response.
Send comments regarding these burden estimates or any aspect of these collections of information, including suggestions for reducing burden, to the Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426 (Attention: Information Clearance Officer); and to the Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, DC 20503 (Attention: Desk Officer for the Federal Energy Regulatory Commission). No person shall be subject to any penalty if any collection of information does not display a valid control number (44 U.S.C. § 3512 (a)).

GENERAL INSTRUCTIONS

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

Definitions for statistical classifications used for completing schedules for transmission system reporting are as follows:

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

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

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

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

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

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

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

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

DEFINITIONS

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

EXCERPTS FROM THE LAW

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

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

’Corporation' means any corporation, joint-stock company, partnership, association, business trust, organized group of persons, whether incorporated or not, or a receiver or receivers, trustee or trustees of any of the foregoing. It shall not include 'municipalities, as hereinafter defined;
'Person' means an individual or a corporation;
'Licensee, means any person, State, or municipality Licensed under the provisions of section 4 of this Act, and any assignee or successor in interest thereof;

'municipality means a city, county, irrigation district, drainage district, or other political subdivision or agency of a State competent under the Laws thereof to carry and the business of developing, transmitting, unitizing, or distributing power; ......

"project' means. a complete unit of improvement or development, consisting of a power house, all water conduits, all dams and appurtenant works and structures (including navigation structures) which are a part of said unit, and all storage, diverting, or fore bay reservoirs directly connected therewith, the primary line or lines transmitting power there from to the point of junction with the distribution system or with the interconnected primary transmission system, all miscellaneous structures used and useful in connection with said unit or any part thereof, and all water rights, rights-of-way, ditches, dams, reservoirs, Lands, or interest in Lands the use and occupancy of which are necessary or appropriate in the maintenance and operation of such unit;

"Sec. 4. The Commission is hereby authorized and empowered

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

"Sec. 304.

Every Licensee and every public utility shall file with the Commission such annual and other periodic or special* reports as the Commission may by rules and regulations or other prescribe as necessary or appropriate to assist the Commission in the proper administration of this Act. The Commission may prescribe the manner and FERC Form in which such reports shall be made, and require from such persons specific answers to all questions upon which the Commission may need information. The Commission may require that such reports shall include, among other things, full information as to assets and Liabilities, capitalization, net investment, and reduction thereof, gross receipts, interest due and paid, depreciation, and other reserves, cost of project and other facilities, cost of maintenance and operation of the project and other facilities, cost of renewals and replacement of the project works and other facilities, depreciation, generation, transmission, distribution, delivery, use, and sale of electric energy. The Commission may require any such person to make adequate provision for currently determining such costs and other facts. Such reports shall be made under oath unless the Commission otherwise specifies*.10

"Sec. 309.

The Commission shall have power to perform any and all acts, and to prescribe, issue, make, and rescind such orders, rules and regulations as it may find necessary or appropriate to carry out the provisions of this Act. Among other things, such rules and regulations may define accounting, technical, and trade terms used in this Act; and may prescribe the FERC Form or FERC Forms of all statements, declarations, applications, and reports to be filed with the Commission, the information which they shall contain, and the time within which they shall be field..."

GENERAL PENALTIES

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

FERC FORM NO.

1/3-Q

REPORT OF MAJOR ELECTRIC UTILITIES, LICENSEES AND OTHER

Identification

01 Exact Legal Name of Respondent

NorthWestern Corporation

02 Year/ Period of Report

End of:

2024

03 Previous Name and Date of Change (If name changed during year)

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

3010 West 69th Street, Sioux Falls, SD 57108

05 Name of Contact Person

Evan VerWey

06 Title of Contact Person

Manager of Financial Reporting

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

3010 West 69th Street, Sioux Falls, SD 57108

08 Telephone of Contact Person, Including Area Code

(605)-978-2906

09 This Report is An Original / A Resubmission

(1)

☑ An Original

(2)

☐ A Resubmission

10 Date of Report (Mo, Da, Yr)

03/31/2024

Quarterly Corporate Officer Certification

The undersigned officer certifies that:

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

01 Name

Jeff Berzina

02 Title

Controller

03 Signature

Jeff Berzina

04 Date Signed (Mo, Da, Yr)

05/20/2024

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

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

List of Schedules
Enter in column (c) the terms "none," "not applicable," or "NA," as appropriate, where no information or amounts have been reported for certain pages. Omit pages where the respondents are "none," "not applicable," or "NA".
Line No.	Title of Schedule (a)	Reference Page No. (b)	Remarks (c)
	ScheduleIdentificationAbstract Identification	1
	ScheduleListOfSchedulesAbstract List of Schedules (Electric Utility)	2
1	ScheduleImportantChangesDuringTheQuarterYearAbstract Important Changes During the Quarter	108
2	ScheduleComparativeBalanceSheetAbstract Comparative Balance Sheet	110
3	ScheduleStatementOfIncomeAbstract Statement of Income for the Quarter	114
4	ScheduleRetainedEarningsAbstract Statement of Retained Earnings for the Quarter	118
5	ScheduleStatementOfCashFlowsAbstract Statement of Cash Flows	120
6	ScheduleNotesToFinancialStatementsAbstract Notes to Financial Statements	122
7	ScheduleStatementOfAccumulatedOtherComprehensiveIncomeAndHedgingActivitiesAbstract Statement of Accum Comp Income, Comp Income, and Hedging Activities	122a
8	ScheduleSummaryOfUtilityPlantAndAccumulatedProvisionsForDepreciationAmortizationAndDepletionAbstract Summary of Utility Plant & Accumulated Provisions for Dep, Amort & Dep	200
9	ScheduleElectricPlantInServiceAndAccumulatedProvisionForDepreciationByFunctionAbstract Electric Plant In Service and Accum Provision For Depr by Function	208
10	ScheduleTransmissionServiceAndGenerationInterconnectionStudyCostsAbstract Transmission Service and Generation Interconnection Study Costs	231
11	ScheduleOtherRegulatoryAssetsAbstract Other Regulatory Assets	232
12	ScheduleOtherRegulatoryLiabilitiesAbstract Other Regulatory Liabilities	278
13	ScheduleElectricOperatingRevenuesAbstract Elec Operating Revenues (Individual Schedule Lines 300-301)	300
14	ScheduleRegionalTransmissionServiceRevenuesAbstract Regional Transmission Service Revenues (Account 457.1)	302	Not Applicable
15	ScheduleElectricProductionOtherPowerTransmissionRegionalExpensesAbstract Electric Prod, Other Power Supply Exp, Trans and Distrib Exp	324
16	ScheduleElectricCustomerAccountServiceSalesAdministrativeAndGeneralExpensesAbstract Electric Customer Accts, Service, Sales, Admin and General Expenses	325
17	ScheduleTransmissionOfElectricityForOthersAbstract Transmission of Electricity for Others	328
18	ScheduleTransmissionOfElectricityByIsoOrRtoAbstract Transmission of Electricity by ISO/RTOs	331	Not Applicable
19	ScheduleTransmissionOfElectricityByOthersAbstract Transmission of Electricity by Others	332
20	ScheduleDepreciationDepletionAndAmortizationsAbstract Deprec, Depl and Amort of Elec Plant (403,403.1,404,and 405) (except Amortization of Acquisition Adjustments)	338
21	ScheduleAmountsIncludedInIsoOrRtoSettlementAbstract Amounts Included in ISO/RTO Settlement Statements	397	Not Applicable
22	ScheduleMonthlyPeaksAndOutputAbstract Monthly Peak Loads and Energy Output	399
23	ScheduleMonthlyTransmissionSystemPeakLoadAbstract Monthly Transmission System Peak Load	400
24	ScheduleMonthlyIsoOrRtoTransmissionSystemPeakLoadAbstract Monthly ISO/RTO Transmission System Peak Load	400a	Not Applicable

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

IMPORTANT CHANGES DURING THE QUARTER/YEAR
Give particulars (details) concerning the matters indicated below. Make the statements explicit and precise, and number them in accordance with the inquiries. Each inquiry should be answered. Enter "none," "not applicable," or "NA" where applicable. If information which answers an inquiry is given elsewhere in the report, make a reference to the schedule in which it appears. Changes in and important additions to franchise rights: Describe the actual consideration given therefore and state from whom the franchise rights were acquired. If acquired without the payment of consideration, state that fact. Acquisition of ownership in other companies by reorganization, merger, or consolidation with other companies: Give names of companies involved, particulars concerning the transactions, name of the Commission authorizing the transaction, and reference to Commission authorization. Purchase or sale of an operating unit or system: Give a brief description of the property, and of the transactions relating thereto, and reference to Commission authorization, if any was required. Give date journal entries called for by the Uniform System of Accounts were submitted to the Commission. Important leaseholds (other than leaseholds for natural gas lands) that have been acquired or given, assigned or surrendered: Give effective dates, lengths of terms, names of parties, rents, and other condition. State name of Commission authorizing lease and give reference to such authorization. Important extension or reduction of transmission or distribution system: State territory added or relinquished and date operations began or ceased and give reference to Commission authorization, if any was required. State also the approximate number of customers added or lost and approximate annual revenues of each class of service. Each natural gas company must also state major new continuing sources of gas made available to it from purchases, development, purchase contract or otherwise, giving location and approximate total gas volumes available, period of contracts, and other parties to any such arrangements, etc. Obligations incurred as a result of issuance of securities or assumption of liabilities or guarantees including issuance of short-term debt and commercial paper having a maturity of one year or less. Give reference to FERC or State Commission authorization, as appropriate, and the amount of obligation or guarantee. Changes in articles of incorporation or amendments to charter: Explain the nature and purpose of such changes or amendments. State the estimated annual effect and nature of any important wage scale changes during the year. State briefly the status of any materially important legal proceedings pending at the end of the year, and the results of any such proceedings culminated during the year. Describe briefly any materially important transactions of the respondent not disclosed elsewhere in this report in which an officer, director, security holder reported on Pages 104 or 105 of the Annual Report Form No. 1, voting trustee, associated company or known associate of any of these persons was a party or in which any such person had a material interest. (Reserved.) If the important changes during the year relating to the respondent company appearing in the annual report to stockholders are applicable in every respect and furnish the data required by Instructions 1 to 11 above, such notes may be included on this page. Describe fully any changes in officers, directors, major security holders and voting powers of the respondent that may have occurred during the reporting period. In the event that the respondent participates in a cash management program(s) and its proprietary capital ratio is less than 30 percent please describe the significant events or transactions causing the proprietary capital ratio to be less than 30 percent, and the extent to which the respondent has amounts loaned or money advanced to its parent, subsidiary, or affiliated companies through a cash management program(s). Additionally, please describe plans, if any to regain at least a 30 percent proprietary ratio.

None
On January 1, 2024, we completed the second and final phase of the holding company reorganization. NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, and then distributed its equity interest in NorthWestern Energy Public Service Corporation and certain other subsidiaries to NorthWestern Energy Group, Inc., resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities, each as a direct subsidiary of NorthWestern Energy Group, Inc.
None
None
None
See Note 5 "Financing Activities." Debt Issuance: FERC Order ES24-10-000
None
None
See Note 8 "Commitments and Contingencies."
None
None
None
None

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

COMPARATIVE BALANCE SHEET (ASSETS AND OTHER DEBITS)
Line No.	Title of Account (a)	Ref. Page No. (b)	Current Year End of Quarter/Year Balance (c)	Prior Year End Balance 12/31 (d)
1	UtilityPlantAbstract UTILITY PLANT
2	UtilityPlant Utility Plant (101-106, 114)	200	6,523,106,969	7,983,112,655
3	ConstructionWorkInProgress Construction Work in Progress (107)	200	391,191,777	358,401,452
4	UtilityPlantAndConstructionWorkInProgress TOTAL Utility Plant (Enter Total of lines 2 and 3)		6,914,298,746	8,341,514,107
5	AccumulatedProvisionForDepreciationAmortizationAndDepletionOfPlantUtility (Less) Accum. Prov. for Depr. Amort. Depl. (108, 110, 111, 115)	200	2,375,926,960	2,874,902,417
6	UtilityPlantNet Net Utility Plant (Enter Total of line 4 less 5)		4,538,371,786	5,466,611,690
7	NuclearFuelInProcessOfRefinementConversionEnrichmentAndFabrication Nuclear Fuel in Process of Ref., Conv., Enrich., and Fab. (120.1)	202
8	NuclearFuelMaterialsAndAssembliesStockAccountMajorOnly Nuclear Fuel Materials and Assemblies-Stock Account (120.2)
9	NuclearFuelAssembliesInReactorMajorOnly Nuclear Fuel Assemblies in Reactor (120.3)
10	SpentNuclearFuelMajorOnly Spent Nuclear Fuel (120.4)
11	NuclearFuelUnderCapitalLeases Nuclear Fuel Under Capital Leases (120.6)
12	AccumulatedProvisionForAmortizationOfNuclearFuelAssemblies (Less) Accum. Prov. for Amort. of Nucl. Fuel Assemblies (120.5)	202
13	NuclearFuelNet Net Nuclear Fuel (Enter Total of lines 7-11 less 12)
14	UtilityPlantAndNuclearFuelNet Net Utility Plant (Enter Total of lines 6 and 13)		4,538,371,786	5,466,611,690
15	OtherElectricPlantAdjustments Utility Plant Adjustments (116)		263,806,234	357,585,527
16	GasStoredUndergroundNoncurrent Gas Stored Underground - Noncurrent (117)		36,210,774	36,212,426
17	OtherPropertyAndInvestmentsAbstract OTHER PROPERTY AND INVESTMENTS
18	NonutilityProperty Nonutility Property (121)		686,805	686,805
19	AccumulatedProvisionForDepreciationAndAmortizationOfNonutilityProperty (Less) Accum. Prov. for Depr. and Amort. (122)		67,635	67,635
20	InvestmentInAssociatedCompanies Investments in Associated Companies (123)
21	InvestmentInSubsidiaryCompanies Investment in Subsidiary Companies (123.1)	224	18,095,045	33,374,273
23	NoncurrentPortionOfAllowances Noncurrent Portion of Allowances	228
24	OtherInvestments Other Investments (124)		14,413,084	13,050,811
25	SinkingFunds Sinking Funds (125)
26	DepreciationFund Depreciation Fund (126)
27	AmortizationFundFederal Amortization Fund - Federal (127)
28	OtherSpecialFunds Other Special Funds (128)
29	SpecialFunds Special Funds (Non Major Only) (129)
30	DerivativeInstrumentAssetsLongTerm Long-Term Portion of Derivative Assets (175)
31	DerivativeInstrumentAssetsHedgesLongTerm Long-Term Portion of Derivative Assets - Hedges (176)
32	OtherPropertyAndInvestments TOTAL Other Property and Investments (Lines 18-21 and 23-31)		33,127,299	47,044,254
33	CurrentAndAccruedAssetsAbstract CURRENT AND ACCRUED ASSETS
34	CashAndWorkingFunds Cash and Working Funds (Non-major Only) (130)
35	Cash Cash (131)		51,897	8,740,865
36	SpecialDeposits Special Deposits (132-134)		15,055,581	14,856,653
37	WorkingFunds Working Fund (135)		17,500	22,850
38	TemporaryCashInvestments Temporary Cash Investments (136)
39	NotesReceivable Notes Receivable (141)
40	CustomerAccountsReceivable Customer Accounts Receivable (142)		76,928,613	91,004,512
41	OtherAccountsReceivable Other Accounts Receivable (143)		11,401,985	17,049,224
42	AccumulatedProvisionForUncollectibleAccountsCredit (Less) Accum. Prov. for Uncollectible Acct.-Credit (144)		2,546,238	2,813,091
43	NotesReceivableFromAssociatedCompanies Notes Receivable from Associated Companies (145)
44	AccountsReceivableFromAssociatedCompanies Accounts Receivable from Assoc. Companies (146)		4,158,034	615,046
45	FuelStock Fuel Stock (151)	227	2,010,604	9,710,818
46	FuelStockExpensesUndistributed Fuel Stock Expenses Undistributed (152)	227
47	Residuals Residuals (Elec) and Extracted Products (153)	227
48	PlantMaterialsAndOperatingSupplies Plant Materials and Operating Supplies (154)	227	70,935,075	85,254,493
49	Merchandise Merchandise (155)	227
50	OtherMaterialsAndSupplies Other Materials and Supplies (156)	227
51	NuclearMaterialsHeldForSale Nuclear Materials Held for Sale (157)	202/227
52	AllowanceInventoryAndWithheld Allowances (158.1 and 158.2)	228
53	NoncurrentPortionOfAllowances (Less) Noncurrent Portion of Allowances	228
54	StoresExpenseUndistributed Stores Expense Undistributed (163)	227	22,748
55	GasStoredCurrent Gas Stored Underground - Current (164.1)		509,265	18,814,211
56	LiquefiedNaturalGasStoredAndHeldForProcessing Liquefied Natural Gas Stored and Held for Processing (164.2-164.3)
57	Prepayments Prepayments (165)		9,823,874	21,740,289
58	AdvancesForGas Advances for Gas (166-167)
59	InterestAndDividendsReceivable Interest and Dividends Receivable (171)
60	RentsReceivable Rents Receivable (172)		342,889	73,787
61	AccruedUtilityRevenues Accrued Utility Revenues (173)		67,739,163	105,109,956
62	MiscellaneousCurrentAndAccruedAssets Miscellaneous Current and Accrued Assets (174)		831,664	876,036
63	DerivativeInstrumentAssets Derivative Instrument Assets (175)
64	DerivativeInstrumentAssetsLongTerm (Less) Long-Term Portion of Derivative Instrument Assets (175)
65	DerivativeInstrumentAssetsHedges Derivative Instrument Assets - Hedges (176)
66	DerivativeInstrumentAssetsHedgesLongTerm (Less) Long-Term Portion of Derivative Instrument Assets - Hedges (176)
67	CurrentAndAccruedAssets Total Current and Accrued Assets (Lines 34 through 66)		257,237,158	371,055,649
68	DeferredDebitsAbstract DEFERRED DEBITS
69	UnamortizedDebtExpense Unamortized Debt Expenses (181)		10,088,396	11,096,631
70	ExtraordinaryPropertyLosses Extraordinary Property Losses (182.1)	230a
71	UnrecoveredPlantAndRegulatoryStudyCosts Unrecovered Plant and Regulatory Study Costs (182.2)	230b
72	OtherRegulatoryAssets Other Regulatory Assets (182.3)	232	652,922,030	746,025,553
73	PreliminarySurveyAndInvestigationCharges Prelim. Survey and Investigation Charges (Electric) (183)		0	376,264
74	PreliminaryNaturalGasSurveyAndInvestigationChargesAndOtherPreliminarySurveyAndInvestigationCharges Preliminary Natural Gas Survey and Investigation Charges 183.1)
75	OtherPreliminarySurveyAndInvestigationCharges Other Preliminary Survey and Investigation Charges (183.2)
76	ClearingAccounts Clearing Accounts (184)		279,034	2,522
77	TemporaryFacilities Temporary Facilities (185)
78	MiscellaneousDeferredDebits Miscellaneous Deferred Debits (186)	233	1,224,411	11,084,645
79	DeferredLossesFromDispositionOfUtilityPlant Def. Losses from Disposition of Utility Plt. (187)
80	ResearchDevelopmentAndDemonstrationExpenditures Research, Devel. and Demonstration Expend. (188)	352
81	UnamortizedLossOnReacquiredDebt Unamortized Loss on Reaquired Debt (189)		18,144,010	20,027,942
82	AccumulatedDeferredIncomeTaxes Accumulated Deferred Income Taxes (190)	234	190,056,402	289,883,014
83	UnrecoveredPurchasedGasCosts Unrecovered Purchased Gas Costs (191)		30,299,534	3,394,843
84	DeferredDebits Total Deferred Debits (lines 69 through 83)		902,455,749	1,081,886,370
85	AssetsAndOtherDebits TOTAL ASSETS (lines 14-16, 32, 67, and 84)		6,031,209,000	7,360,395,916

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

COMPARATIVE BALANCE SHEET (LIABILITIES AND OTHER CREDITS)
Line No.	Title of Account (a)	Ref. Page No. (b)	Current Year End of Quarter/Year Balance (c)	Prior Year End Balance 12/31 (d)
1	ProprietaryCapitalAbstract PROPRIETARY CAPITAL
2	CommonStockIssued Common Stock Issued (201)	250	1	1
3	PreferredStockIssued Preferred Stock Issued (204)	250
4	CapitalStockSubscribed Capital Stock Subscribed (202, 205)
5	StockLiabilityForConversion Stock Liability for Conversion (203, 206)
6	PremiumOnCapitalStock Premium on Capital Stock (207)
7	OtherPaidInCapital Other Paid-In Capital (208-211)	253	1,982,321,118	1,981,122,791
8	InstallmentsReceivedOnCapitalStock Installments Received on Capital Stock (212)	252
9	DiscountOnCapitalStock (Less) Discount on Capital Stock (213)	254
10	CapitalStockExpense (Less) Capital Stock Expense (214)	254b
11	RetainedEarnings Retained Earnings (215, 215.1, 216)	118	301,375,137	810,816,636
12	UnappropriatedUndistributedSubsidiaryEarnings Unappropriated Undistributed Subsidiary Earnings (216.1)	118	1,605,086	1,503,684
13	ReacquiredCapitalStock (Less) Reacquired Capital Stock (217)	250
14	NoncorporateProprietorship Noncorporate Proprietorship (Non-major only) (218)
15	AccumulatedOtherComprehensiveIncome Accumulated Other Comprehensive Income (219)	122(a)(b)	5,719,493	5,513,000
16	ProprietaryCapital Total Proprietary Capital (lines 2 through 15)		2,276,371,677	2,784,922,744
17	LongTermDebtAbstract LONG-TERM DEBT
18	Bonds Bonds (221)	256	2,074,660,000	2,479,660,000
19	ReacquiredBonds (Less) Reacquired Bonds (222)	256
20	AdvancesFromAssociatedCompanies Advances from Associated Companies (223)	256
21	OtherLongTermDebt Other Long-Term Debt (224)	256	135,000,000	318,000,000
22	UnamortizedPremiumOnLongTermDebt Unamortized Premium on Long-Term Debt (225)
23	UnamortizedDiscountOnLongTermDebtDebit (Less) Unamortized Discount on Long-Term Debt-Debit (226)			6,538
24	LongTermDebt Total Long-Term Debt (lines 18 through 23)		2,209,660,000	2,797,653,462
25	OtherNoncurrentLiabilitiesAbstract OTHER NONCURRENT LIABILITIES
26	ObligationsUnderCapitalLeaseNoncurrent Obligations Under Capital Leases - Noncurrent (227)		5,010,813	5,996,448
27	AccumulatedProvisionForPropertyInsurance Accumulated Provision for Property Insurance (228.1)
28	AccumulatedProvisionForInjuriesAndDamages Accumulated Provision for Injuries and Damages (228.2)		7,324,759	6,745,658
29	AccumulatedProvisionForPensionsAndBenefits Accumulated Provision for Pensions and Benefits (228.3)		895,486	4,631,028
30	AccumulatedMiscellaneousOperatingProvisions Accumulated Miscellaneous Operating Provisions (228.4)		31,135,030	50,272,082
31	AccumulatedProvisionForRateRefunds Accumulated Provision for Rate Refunds (229)
32	LongTermPortionOfDerivativeInstrumentLiabilities Long-Term Portion of Derivative Instrument Liabilities
33	LongTermPortionOfDerivativeInstrumentLiabilitiesHedges Long-Term Portion of Derivative Instrument Liabilities - Hedges
34	AssetRetirementObligations Asset Retirement Obligations (230)		35,033,927	41,424,213
35	OtherNoncurrentLiabilities Total Other Noncurrent Liabilities (lines 26 through 34)		79,400,015	109,069,429
36	CurrentAndAccruedLiabilitiesAbstract CURRENT AND ACCRUED LIABILITIES
37	NotesPayable Notes Payable (231)
38	AccountsPayable Accounts Payable (232)		84,300,050	131,709,370
39	NotesPayableToAssociatedCompanies Notes Payable to Associated Companies (233)
40	AccountsPayableToAssociatedCompanies Accounts Payable to Associated Companies (234)		2,928,940	4,804,188
41	CustomerDeposits Customer Deposits (235)		11,970,115	11,954,099
42	TaxesAccrued Taxes Accrued (236)	262	120,562,924	75,992,477
43	InterestAccrued Interest Accrued (237)		30,837,556	24,775,303
44	DividendsDeclared Dividends Declared (238)
45	MaturedLongTermDebt Matured Long-Term Debt (239)
46	MaturedInterest Matured Interest (240)
47	TaxCollectionsPayable Tax Collections Payable (241)		274,653	1,789,013
48	MiscellaneousCurrentAndAccruedLiabilities Miscellaneous Current and Accrued Liabilities (242)		50,160,087	73,408,287
49	ObligationsUnderCapitalLeasesCurrent Obligations Under Capital Leases-Current (243)		3,665,778	3,720,377
50	DerivativesInstrumentLiabilities Derivative Instrument Liabilities (244)
51	LongTermPortionOfDerivativeInstrumentLiabilities (Less) Long-Term Portion of Derivative Instrument Liabilities
52	DerivativeInstrumentLiabilitiesHedges Derivative Instrument Liabilities - Hedges (245)
53	LongTermPortionOfDerivativeInstrumentLiabilitiesHedges (Less) Long-Term Portion of Derivative Instrument Liabilities-Hedges
54	CurrentAndAccruedLiabilities Total Current and Accrued Liabilities (lines 37 through 53)		304,700,103	328,153,114
55	DeferredCreditsAbstract DEFERRED CREDITS
56	CustomerAdvancesForConstruction Customer Advances for Construction (252)		110,720,223	107,470,505
57	AccumulatedDeferredInvestmentTaxCredits Accumulated Deferred Investment Tax Credits (255)	266	217,069	258,964
58	DeferredGainsFromDispositionOfUtilityPlant Deferred Gains from Disposition of Utility Plant (256)
59	OtherDeferredCredits Other Deferred Credits (253)	269	112,725,808	147,334,417
60	OtherRegulatoryLiabilities Other Regulatory Liabilities (254)	278	143,207,442	190,647,029
61	UnamortizedGainOnReacquiredDebt Unamortized Gain on Reacquired Debt (257)
62	AccumulatedDeferredIncomeTaxesAcceleratedAmortizationProperty Accum. Deferred Income Taxes-Accel. Amort.(281)	272
63	AccumulatedDeferredIncomeTaxesOtherProperty Accum. Deferred Income Taxes-Other Property (282)		563,330,551	663,637,584
64	AccumulatedDeferredIncomeTaxesOther Accum. Deferred Income Taxes-Other (283)		230,876,112	231,248,668
65	DeferredCredits Total Deferred Credits (lines 56 through 64)		1,161,077,205	1,340,597,167
66	LiabilitiesAndOtherCredits TOTAL LIABILITIES AND STOCKHOLDER EQUITY (lines 16, 24, 35, 54 and 65)		6,031,209,000	7,360,395,916

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

STATEMENT OF INCOME
Quarterly Report in column (c) the current year to date balance. Column (c) equals the total of adding the data in column (g) plus the data in column (i) plus the data in column (k). Report in column (d) similar data for the previous year. This information is reported in the annual filing only. Enter in column (e) the balance for the reporting quarter and in column (f) the balance for the same three month period for the prior year. Report in column (g) the quarter to date amounts for electric utility function; in column (i) the quarter to date amounts for gas utility, and in column (k) the quarter to date amounts for other utility function for the current year quarter. Report in column (h) the quarter to date amounts for electric utility function; in column (j) the quarter to date amounts for gas utility, and in column (l) the quarter to date amounts for other utility function for the prior year quarter. If additional columns are needed, place them in a footnote. Annual or Quarterly if applicable Do not report fourth quarter data in columns (e) and (f) Report amounts for accounts 412 and 413, Revenues and Expenses from Utility Plant Leased to Others, in another utility column in a similar manner to a utility department. Spread the amount(s) over Lines 2 thru 26 as appropriate. Include these amounts in columns (c) and (d) totals. Report amounts in account 414, Other Utility Operating Income, in the same manner as accounts 412 and 413 above. Use page 122 for important notes regarding the statement of income for any account thereof. Give concise explanations concerning unsettled rate proceedings where a contingency exists such that refunds of a material amount may need to be made to the utility's customers or which may result in material refund to the utility with respect to power or gas purchases. State for each year effected the gross revenues or costs to which the contingency relates and the tax effects together with an explanation of the major factors which affect the rights of the utility to retain such revenues or recover amounts paid with respect to power or gas purchases. Give concise explanations concerning significant amounts of any refunds made or received during the year resulting from settlement of any rate proceeding affecting revenues received or costs incurred for power or gas purchases, and a summary of the adjustments made to balance sheet, income, and expense accounts. If any notes appearing in the report to stockholders are applicable to the Statement of Income, such notes may be included at page 122. Enter on page 122 a concise explanation of only those changes in accounting methods made during the year which had an effect on net income, including the basis of allocations and apportionments from those used in the preceding year. Also, give the appropriate dollar effect of such changes. Explain in a footnote if the previous year's/quarter's figures are different from that reported in prior reports. If the columns are insufficient for reporting additional utility departments, supply the appropriate account titles report the information in a footnote to this schedule.
Line No.	Title of Account (a)	(Ref.) Page No. (b)	Total Current Year to Date Balance for Quarter/Year (c)	Total Prior Year to Date Balance for Quarter/Year (d)	Current 3 Months Ended - Quarterly Only - No 4th Quarter (e)	Prior 3 Months Ended - Quarterly Only - No 4th Quarter (f)	Electric Utility Current Year to Date (in dollars) (g)	Electric Utility Previous Year to Date (in dollars) (h)	Gas Utiity Current Year to Date (in dollars) (i)	Gas Utility Previous Year to Date (in dollars) (j)	Other Utility Current Year to Date (in dollars) (k)	Other Utility Previous Year to Date (in dollars) (l)
1	UtilityOperatingIncomeAbstract UTILITY OPERATING INCOME
2	OperatingRevenues Operating Revenues (400)	300	361,411,191	547,520,222	361,411,191	547,520,222	278,062,875	362,975,985	82,839,364	183,964,977	508,952	579,260
3	OperatingExpensesAbstract Operating Expenses
4	OperationExpense Operation Expenses (401)	320	180,090,606	320,005,382	180,090,606	320,005,382	141,852,665	194,904,399	37,820,489	124,621,209	417,452	479,774
5	MaintenanceExpense Maintenance Expenses (402)	320	10,306,033	13,988,218	10,306,033	13,988,218	8,210,461	11,702,874	2,095,253	2,285,214	319	131
6	DepreciationExpense Depreciation Expense (403)	336	37,020,106	45,609,438	37,020,106	45,609,438	31,294,513	37,721,229	5,714,071	7,877,984	11,522	10,225
7	DepreciationExpenseForAssetRetirementCosts Depreciation Expense for Asset Retirement Costs (403.1)	336	0	0	0	0		0
8	AmortizationAndDepletionOfUtilityPlant Amort. & Depl. of Utility Plant (404-405)	336	3,976,575	3,952,956	3,976,575	3,952,956	2,194,533	2,390,986	1,782,042	1,561,970
9	AmortizationOfElectricPlantAcquisitionAdjustments Amort. of Utility Plant Acq. Adj. (406)	336	3,686,971	3,775,443	3,686,971	3,775,443	3,686,971	3,987,069		211,626
10	AmortizationOfPropertyLossesUnrecoveredPlantAndRegulatoryStudyCosts Amort. Property Losses, Unrecov Plant and Regulatory Study Costs (407)
11	AmortizationOfConversionExpenses Amort. of Conversion Expenses (407.2)
12	RegulatoryDebits Regulatory Debits (407.3)		5,240,597	30,302,427	5,240,597	30,302,427	3,051,582	12,842,007	2,189,015	17,460,420
13	RegulatoryCredits (Less) Regulatory Credits (407.4)		17,068,234	18,666,653	17,068,234	18,666,653	13,958,860	8,834,376	3,109,374	9,832,277
14	TaxesOtherThanIncomeTaxesUtilityOperatingIncome Taxes Other Than Income Taxes (408.1)	262	47,075,571	51,157,618	47,075,571	51,157,618	36,247,169	39,721,500	10,814,304	11,418,629	14,098	17,489
15	IncomeTaxesOperatingIncome Income Taxes - Federal (409.1)	262	12,226	7,287,530	12,226	7,287,530	1,920,801	1,953,650	1,893,830	9,224,748	14,745	16,433
16	IncomeTaxesUtilityOperatingIncomeOther Income Taxes - Other (409.1)	262	238,150	9,362,034	238,150	9,362,034	993,885	6,458,902	1,226,952	2,897,467	5,083	5,664
17	ProvisionsForDeferredIncomeTaxesUtilityOperatingIncome Provision for Deferred Income Taxes (410.1)	234, 272	32,453,813	26,854,623	32,453,813	26,854,623	25,315,715	24,805,936	7,140,320	2,051,722	2,222	3,036
18	ProvisionForDeferredIncomeTaxesCreditOperatingIncome (Less) Provision for Deferred Income Taxes-Cr. (411.1)	234, 272	23,011,982	36,959,334	23,011,982	36,959,334	17,086,415	25,833,659	5,925,567	11,125,675
19	InvestmentTaxCreditAdjustments Investment Tax Credit Adj. - Net (411.4)	266	41,896	40,117	41,896	40,117	41,896	40,117
20	GainsFromDispositionOfPlant (Less) Gains from Disp. of Utility Plant (411.6)
21	LossesFromDispositionOfServiceCompanyPlant Losses from Disp. of Utility Plant (411.7)
22	GainsFromDispositionOfAllowances (Less) Gains from Disposition of Allowances (411.8)
23	LossesFromDispositionOfAllowances Losses from Disposition of Allowances (411.9)
24	AccretionExpense Accretion Expense (411.10)
25	UtilityOperatingExpenses TOTAL Utility Operating Expenses (Enter Total of lines 4 thru 24)		279,954,084	456,629,565	279,954,084	456,629,565	217,851,752	297,873,100	61,641,335	158,229,785	460,997	526,680
27	NetUtilityOperatingIncome Net Util Oper Inc (Enter Tot line 2 less 25)		81,457,107	90,890,657	81,457,107	90,890,657	60,211,123	65,102,885	21,198,029	25,735,192	47,955	52,580
28	OtherIncomeAndDeductionsAbstract Other Income and Deductions
29	OtherIncomeAbstract Other Income
30	NonutilityOperatingIncomeAbstract Nonutilty Operating Income
31	RevenuesFromMerchandisingJobbingAndContractWork Revenues From Merchandising, Jobbing and Contract Work (415)		117,060	153,311	117,060	153,311
32	CostsAndExpensesOfMerchandisingJobbingAndContractWork (Less) Costs and Exp. of Merchandising, Job. & Contract Work (416)		177,252	34,735	177,252	34,735
33	RevenuesFromNonutilityOperations Revenues From Nonutility Operations (417)		114,656	20,360	114,656	20,360
34	ExpensesOfNonutilityOperations (Less) Expenses of Nonutility Operations (417.1)		55,045	130,057	55,045	130,057
35	NonoperatingRentalIncome Nonoperating Rental Income (418)
36	EquityInEarningsOfSubsidiaryCompanies Equity in Earnings of Subsidiary Companies (418.1)	119	247,931	110,323	247,931	110,323
37	InterestAndDividendIncome Interest and Dividend Income (419)		8	181,012	8	181,012
38	AllowanceForOtherFundsUsedDuringConstruction Allowance for Other Funds Used During Construction (419.1)		4,100,009	3,714,472	4,100,009	3,714,472
39	MiscellaneousNonoperatingIncome Miscellaneous Nonoperating Income (421)		76,378	50,208	76,378	50,208
40	GainOnDispositionOfProperty Gain on Disposition of Property (421.1)
41	OtherIncome TOTAL Other Income (Enter Total of lines 31 thru 40)		3,927,883	3,743,832	3,927,883	3,743,832
42	OtherIncomeDeductionsAbstract Other Income Deductions
43	LossOnDispositionOfProperty Loss on Disposition of Property (421.2)
44	MiscellaneousAmortization Miscellaneous Amortization (425)
45	Donations Donations (426.1)		311,051	290,970	311,051	290,970
46	LifeInsurance Life Insurance (426.2)
47	Penalties Penalties (426.3)		2,269,800	116	2,269,800	116
48	ExpendituresForCertainCivicPoliticalAndRelatedActivities Exp. for Certain Civic, Political & Related Activities (426.4)		92,870	194,510	92,870	194,510
49	OtherDeductions Other Deductions (426.5)		72,426	34,124	72,426	34,124
50	OtherIncomeDeductions TOTAL Other Income Deductions (Total of lines 43 thru 49)		1,793,453	451,472	1,793,453	451,472
51	TaxesApplicableToOtherIncomeAndDeductionsAbstract Taxes Applic. to Other Income and Deductions
52	TaxesOtherThanIncomeTaxesOtherIncomeAndDeductions Taxes Other Than Income Taxes (408.2)	262	546	732	546	732
53	IncomeTaxesFederal Income Taxes-Federal (409.2)	262	1,380,688	3,821,722	1,380,688	3,821,722
54	IncomeTaxesOther Income Taxes-Other (409.2)	262	270,359	148,637	270,359	148,637
55	ProvisionForDeferredIncomeTaxesOtherIncomeAndDeductions Provision for Deferred Inc. Taxes (410.2)	234, 272	803	427,573	803	427,573
56	ProvisionForDeferredIncomeTaxesCreditOtherIncomeAndDeductions (Less) Provision for Deferred Income Taxes-Cr. (411.2)	234, 272	435	702,077	435	702,077
57	InvestmentTaxCreditAdjustmentsNonutilityOperations Investment Tax Credit Adj.-Net (411.5)
58	InvestmentTaxCredits (Less) Investment Tax Credits (420)
59	TaxesOnOtherIncomeAndDeductions TOTAL Taxes on Other Income and Deductions (Total of lines 52-58)		1,651,961	3,399,313	1,651,961	3,399,313
60	NetOtherIncomeAndDeductions Net Other Income and Deductions (Total of lines 41, 50, 59)		4,069,375	106,953	4,069,375	106,953
61	InterestChargesAbstract Interest Charges
62	InterestOnLongTermDebt Interest on Long-Term Debt (427)		24,835,396	26,990,006	24,835,396	26,990,006
63	AmortizationOfDebtDiscountAndExpense Amort. of Debt Disc. and Expense (428)		329,326	491,476	329,326	491,476
64	AmortizationOfLossOnReacquiredDebt Amortization of Loss on Reaquired Debt (428.1)		391,755	703,600	391,755	703,600
65	AmortizationOfPremiumOnDebtCredit (Less) Amort. of Premium on Debt-Credit (429)
66	AmortizationOfGainOnReacquiredDebtCredit (Less) Amortization of Gain on Reaquired Debt-Credit (429.1)
67	InterestOnDebtToAssociatedCompanies Interest on Debt to Assoc. Companies (430)
68	OtherInterestExpense Other Interest Expense (431)		987,135	1,480,084	987,135	1,480,084
69	AllowanceForBorrowedFundsUsedDuringConstructionCredit (Less) Allowance for Borrowed Funds Used During Construction-Cr. (432)		1,853,146	1,412,014	1,853,146	1,412,014
70	NetInterestCharges Net Interest Charges (Total of lines 62 thru 69)		24,690,466	28,253,152	24,690,466	28,253,152
71	IncomeBeforeExtraordinaryItems Income Before Extraordinary Items (Total of lines 27, 60 and 70)		60,836,016	62,530,552	60,836,016	62,530,552
72	ExtraordinaryItemsAbstract Extraordinary Items
73	ExtraordinaryIncome Extraordinary Income (434)
74	ExtraordinaryDeductions (Less) Extraordinary Deductions (435)
75	NetExtraordinaryItems Net Extraordinary Items (Total of line 73 less line 74)
76	IncomeTaxesExtraordinaryItems Income Taxes-Federal and Other (409.3)	262
77	ExtraordinaryItemsAfterTaxes Extraordinary Items After Taxes (line 75 less line 76)
78	NetIncomeLoss Net Income (Total of line 71 and 77)		60,836,016	62,530,552	60,836,016	62,530,552

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

STATEMENT OF RETAINED EARNINGS
Do not report Lines 49-53 on the quarterly report. Report all changes in appropriated retained earnings, unappropriated retained earnings, and unappropriated undistributed subsidiary earnings for the year. Each credit and debit during the year should be identified as to the retained earnings account in which recorded (Accounts 433, 436-439 inclusive). Show the contra primary account affected in column (b). State the purpose and amount for each reservation or appropriation of retained earnings. List first Account 439, Adjustments to Retained Earnings, reflecting adjustments to the opening balance of retained earnings. Follow by credit, then debit items, in that order. Show dividends for each class and series of capital stock. Show separately the State and Federal income tax effect of items shown for Account 439, Adjustments to Retained Earnings. Explain in a footnote the basis for determining the amount reserved or appropriated. If such reservation or appropriation is to be recurrent, state the number and annual amounts to be reserved or appropriated as well as the totals eventually to be accumulated. If any notes appearing in the report to stockholders are applicable to this statement, attach them at page 122.
Line No.	Item (a)	Contra Primary Account Affected (b)	Current Quarter/Year Year to Date Balance (c)	Previous Quarter/Year Year to Date Balance (d)
	UnappropriatedRetainedEarningsAbstract UNAPPROPRIATED RETAINED EARNINGS (Account 216)
1	UnappropriatedRetainedEarnings Balance-Beginning of Period		810,816,636	769,493,168
2	ChangesAbstract Changes
3	AdjustmentsToRetainedEarningsAbstract Adjustments to Retained Earnings (Account 439)
4	AdjustmentsToRetainedEarningsCreditAbstract Adjustments to Retained Earnings Credit
4.1	AdjustmentsToRetainedEarningsCredit
9	AdjustmentsToRetainedEarningsCredit TOTAL Credits to Retained Earnings (Acct. 439)
10	AdjustmentsToRetainedEarningsDebitAbstract Adjustments to Retained Earnings Debit
10.1	AdjustmentsToRetainedEarningsDebit Holding Company Reorganization		(a) 570,525,446	0
15	AdjustmentsToRetainedEarningsDebit TOTAL Debits to Retained Earnings (Acct. 439)		570,525,446	0
16	BalanceTransferredFromIncome Balance Transferred from Income (Account 433 less Account 418.1)		61,083,947	195,412,909
17	AppropriationsOfRetainedEarningsAbstract Appropriations of Retained Earnings (Acct. 436)
22	AppropriationsOfRetainedEarnings TOTAL Appropriations of Retained Earnings (Acct. 436)
23	DividendsDeclaredPreferredStockAbstract Dividends Declared-Preferred Stock (Account 437)
29	DividendsDeclaredPreferredStock TOTAL Dividends Declared-Preferred Stock (Acct. 437)
30	DividendsDeclaredCommonStockAbstract Dividends Declared-Common Stock (Account 438)
30.1	DividendsDeclaredCommonStock Common Stock Dividend		0	154,089,441
36	DividendsDeclaredCommonStock TOTAL Dividends Declared-Common Stock (Acct. 438)		0	154,089,441
37	TransfersFromUnappropriatedUndistributedSubsidiaryEarnings Transfers from Acct 216.1, Unapprop. Undistrib. Subsidiary Earnings
38	UnappropriatedRetainedEarnings Balance - End of Period (Total 1,9,15,16,22,29,36,37)		301,375,137	810,816,636
39	AppropriatedRetainedEarningsAbstract APPROPRIATED RETAINED EARNINGS (Account 215)
45	AppropriatedRetainedEarnings TOTAL Appropriated Retained Earnings (Account 215)
	AppropriatedRetainedEarningsAmortizationReserveFederalAbstract APPROP. RETAINED EARNINGS - AMORT. Reserve, Federal (Account 215.1)
46	AppropriatedRetainedEarningsAmortizationReserveFederal TOTAL Approp. Retained Earnings-Amort. Reserve, Federal (Acct. 215.1)
47	AppropriatedRetainedEarningsIncludingReserveAmortization TOTAL Approp. Retained Earnings (Acct. 215, 215.1) (Total 45,46)
48	RetainedEarnings TOTAL Retained Earnings (Acct. 215, 215.1, 216) (Total 38, 47) (216.1)		301,375,137	810,816,636
	UnappropriatedUndistributedSubsidiaryEarningsAbstract UNAPPROPRIATED UNDISTRIBUTED SUBSIDIARY EARNINGS (Account Report only on an Annual Basis, no Quarterly)
49	UnappropriatedUndistributedSubsidiaryEarnings Balance-Beginning of Year (Debit or Credit)
50	EquityInEarningsOfSubsidiaryCompanies Equity in Earnings for Year (Credit) (Account 418.1)
51	DividendsReceived (Less) Dividends Received (Debit)
52	ChangesUnappropriatedUndistributedSubsidiaryEarningsCredits TOTAL other Changes in unappropriated undistributed subsidiary earnings for the year
52.1	ChangesUnappropriatedUndistributedSubsidiaryEarningsCredits Distribution to NorthWestern Energy Public Service Corporation
53	UnappropriatedUndistributedSubsidiaryEarnings Balance-End of Year (Total lines 49 thru 52)

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

FOOTNOTE DATA

(a) Concept: AdjustmentsToRetainedEarningsDebit

On January 1, 2024, we completed the second and final phase of our holding company reorganization. NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, and then distributed its equity interest in NorthWestern Energy Public Service Corporation and certain other subsidiaries to NorthWestern Energy Group, resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities, each as a direct subsidiary of NorthWestern Energy Group.

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

STATEMENT OF CASH FLOWS
Codes to be used:(a) Net Proceeds or Payments;(b)Bonds, debentures and other long-term debt; (c) Include commercial paper; and (d) Identify separately such items as investments, fixed assets, intangibles, etc. Information about noncash investing and financing activities must be provided in the Notes to the Financial statements. Also provide a reconciliation between "Cash and Cash Equivalents at End of Period" with related amounts on the Balance Sheet. Operating Activities - Other: Include gains and losses pertaining to operating activities only. Gains and losses pertaining to investing and financing activities should be reported in those activities. Show in the Notes to the Financials the amounts of interest paid (net of amount capitalized) and income taxes paid. Investing Activities: Include at Other (line 31) net cash outflow to acquire other companies. Provide a reconciliation of assets acquired with liabilities assumed in the Notes to the Financial Statements. Do not include on this statement the dollar amount of leases capitalized per the USofA General Instruction 20; instead provide a reconciliation of the dollar amount of leases capitalized with the plant cost.
Line No.	Description (See Instructions No.1 for explanation of codes) (a)	Current Year to Date Quarter/Year (b)	Previous Year to Date Quarter/Year (c)
1	NetCashFlowFromOperatingActivitiesAbstract Net Cash Flow from Operating Activities
2	NetIncomeLoss Net Income (Line 78(c) on page 117)	60,836,016	62,530,552
3	NoncashChargesCreditsToIncomeAbstract Noncash Charges (Credits) to Income:
4	DepreciationAndDepletion Depreciation and Depletion	37,020,106	45,609,438
5	NoncashAdjustmentsToCashFlowsFromOperatingActivities Amortization of (Specify) (footnote details)
5.1	NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription Amortization of	7,663,546	7,728,399
5.2	NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other Non-cash charges to net income-net	(a) 2,027,590	4,153,257
8	DeferredIncomeTaxesNet Deferred Income Taxes (Net)	9,442,199	10,379,215
9	InvestmentTaxCreditAdjustmentsNet Investment Tax Credit Adjustment (Net)	41,896	40,117
10	NetIncreaseDecreaseInReceivablesOperatingActivities Net (Increase) Decrease in Receivables	1,630,822	11,246,428
11	NetIncreaseDecreaseInInventoryOperatingActivities Net (Increase) Decrease in Inventory	8,630,503	14,784,431
12	NetIncreaseDecreaseInAllowancesInventoryOperatingActivities Net (Increase) Decrease in Allowances Inventory
13	NetIncreaseDecreaseInPayablesAndAccruedExpensesOperatingActivities Net Increase (Decrease) in Payables and Accrued Expenses	46,814,948	13,811,562
14	NetIncreaseDecreaseInOtherRegulatoryAssetsOperatingActivities Net (Increase) Decrease in Other Regulatory Assets	711,429	15,570,413
15	NetIncreaseDecreaseInOtherRegulatoryLiabilitiesOperatingActivities Net Increase (Decrease) in Other Regulatory Liabilities	11,878,913	5,073,158
16	AllowanceForOtherFundsUsedDuringConstructionOperatingActivities (Less) Allowance for Other Funds Used During Construction	4,100,009	3,714,472
17	UndistributedEarningsFromSubsidiaryCompaniesOperatingActivities (Less) Undistributed Earnings from Subsidiary Companies	247,931	110,323
18	OtherAdjustmentsToCashFlowsFromOperatingActivities Other (provide details in footnote):
18.1	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other	(b) 16,079,801	56,753,435
22	NetCashFlowFromOperatingActivities Net Cash Provided by (Used in) Operating Activities (Total of Lines 2 thru 21)	142,924,471	213,091,276
24	CashFlowsFromInvestmentActivitiesAbstract Cash Flows from Investment Activities:
25	ConstructionAndAcquisitionOfPlantIncludingLandAbstract Construction and Acquisition of Plant (including land):
26	GrossAdditionsToUtilityPlantLessNuclearFuelInvestingActivities Gross Additions to Utility Plant (less nuclear fuel)	97,667,503	136,163,756
27	GrossAdditionsToNuclearFuelInvestingActivities Gross Additions to Nuclear Fuel
28	GrossAdditionsToCommonUtilityPlantInvestingActivities Gross Additions to Common Utility Plant	2,858,764	4,128,803
29	GrossAdditionsToNonutilityPlantInvestingActivities Gross Additions to Nonutility Plant
30	AllowanceForOtherFundsUsedDuringConstructionInvestingActivities (Less) Allowance for Other Funds Used During Construction	4,100,009	3,714,472
31	OtherConstructionAndAcquisitionOfPlantInvestmentActivities Other (provide details in footnote):
34	CashOutflowsForPlant Cash Outflows for Plant (Total of lines 26 thru 33)	96,426,258	136,578,087
36	AcquisitionOfOtherNoncurrentAssets Acquisition of Other Noncurrent Assets (d)
37	ProceedsFromDisposalOfNoncurrentAssets Proceeds from Disposal of Noncurrent Assets (d)
39	InvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies Investments in and Advances to Assoc. and Subsidiary Companies
40	ContributionsAndAdvancesFromAssociatedAndSubsidiaryCompanies Contributions and Advances from Assoc. and Subsidiary Companies
41	DispositionOfInvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompaniesAbstract Disposition of Investments in (and Advances to)
42	DispositionOfInvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies Disposition of Investments in (and Advances to) Associated and Subsidiary Companies
44	PurchaseOfInvestmentSecurities Purchase of Investment Securities (a)
45	ProceedsFromSalesOfInvestmentSecurities Proceeds from Sales of Investment Securities (a)
46	LoansMadeOrPurchased Loans Made or Purchased
47	CollectionsOnLoans Collections on Loans
49	NetIncreaseDecreaseInReceivablesInvestingActivities Net (Increase) Decrease in Receivables
50	NetIncreaseDecreaseInInventoryInvestingActivities Net (Increase) Decrease in Inventory
51	NetIncreaseDecreaseInAllowancesHeldForSpeculationInvestingActivities Net (Increase) Decrease in Allowances Held for Speculation
52	NetIncreaseDecreaseInPayablesAndAccruedExpensesInvestingActivities Net Increase (Decrease) in Payables and Accrued Expenses
53	OtherAdjustmentsToCashFlowsFromInvestmentActivities Other (provide details in footnote):
57	CashFlowsProvidedFromUsedInInvestmentActivities Net Cash Provided by (Used in) Investing Activities (Total of lines 34 thru 55)	96,426,258	136,578,087
59	CashFlowsFromFinancingActivitiesAbstract Cash Flows from Financing Activities:
60	ProceedsFromIssuanceAbstract Proceeds from Issuance of:
61	ProceedsFromIssuanceOfLongTermDebtFinancingActivities Long-Term Debt (b)	175,000,000	220,000,000
62	ProceedsFromIssuanceOfPreferredStockFinancingActivities Preferred Stock
63	ProceedsFromIssuanceOfCommonStockFinancingActivities Common Stock
64	OtherAdjustmentsToCashFlowsFromFinancingActivities Other (provide details in footnote):
64.1	OtherAdjustmentsToCashFlowsFromFinancingActivitiesDescription Treasury Stock Activity		76,772
66	NetIncreaseInShortTermDebt Net Increase in Short-Term Debt (c)
67	OtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities Other (provide details in footnote):
67.1	DescriptionForOtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities Other		92,403
70	CashProvidedByOutsideSources Cash Provided by Outside Sources (Total 61 thru 69)	175,000,000	219,984,369
72	PaymentsForRetirementAbstract Payments for Retirement of:
73	PaymentsForRetirementOfLongTermDebtFinancingActivities Long-term Debt (b)	100,000,000
74	PaymentsForRetirementOfPreferredStockFinancingActivities Preferred Stock
75	PaymentsForRetirementOfCommonStockFinancingActivities Common Stock
76	OtherRetirementsOfBalancesImpactingCashFlowsFromFinancingActivities Other (provide details in footnote):
76.1	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Debt Financing Costs	740,437	1,399,983
76.2	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Line of Credit (Repayments) Borrowings, Net	129,000,000	253,000,000
76.3	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Distribution of Cash to NorthWestern Energy Public Service Corporation	(c) 253,166
78	NetDecreaseInShortTermDebt Net Decrease in Short-Term Debt (c)
80	DividendsOnPreferredStock Dividends on Preferred Stock
81	DividendsOnCommonStock Dividends on Common Stock		38,041,042
83	CashFlowsProvidedFromUsedInFinancingActivities Net Cash Provided by (Used in) Financing Activities (Total of lines 70 thru 81)	54,993,603	72,456,656
85	NetIncreaseDecreaseInCashAndCashEquivalentsAbstract Net Increase (Decrease) in Cash and Cash Equivalents
86	NetIncreaseDecreaseInCashAndCashEquivalents Net Increase (Decrease) in Cash and Cash Equivalents (Total of line 22, 57 and 83)	8,495,390	4,056,533
88	CashAndCashEquivalents Cash and Cash Equivalents at Beginning of Period	23,620,368	20,814,526
90	CashAndCashEquivalents Cash and Cash Equivalents at End of Period	(d) 15,124,978	24,871,059

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

FOOTNOTE DATA

(a) Concept: NoncashAdjustmentsToCashFlowsFromOperatingActivities

	3/31/2024	3/31/2023

Other Noncash Charges to Income, Net:
Amortization of debt issue costs, discount, and deferred hedge gain	824,978	1,133,310
Gain on disposition of assets	-	-
Other noncash losses (gains)	4,285	(288,217)
Stock based compensation costs	1,198,327	3,308,164
	2,027,590	4,153,257

(b) Concept: OtherAdjustmentsToCashFlowsFromOperatingActivities

	3/31/2024	3/31/2023

Other Assets and Liabilities, Net:
Net change - other current assets	1,176,057	4,524,672
Net change - accrued utility revenues	16,355,086	16,334,214
Net change - deferred debits	(27,102,911)	39,540,834
Net change - deferred credits	(2,159,594)	594,536
Net change - noncurrent liabilities	(4,348,439)	(4,240,821)
	(16,079,801)	56,753,435

On January 1, 2024, we contributed this amount of cash to NorthWestern Energy Public Service Corporation. On this same day, we contributed the South Dakota and Nebraska non-cash utility assets and liabilities to NorthWestern Energy Public Service Corporation. See "Holding Company Reorganization" disclosure within Note 1 - Nature of Operations and Bassis of Consolidation within the Notes to the Financial Statements for further information.

(d) Concept: CashAndCashEquivalents

	3/31/2024	12/31/2023	3/31/2023	12/31/2022

Cash (131)	51,897	8,740,865	9,691,507	8,029,111
Working Funds (135)	17,500	22,850	23,450	23,450
Other Special Deposits (134)	15,055,581	14,856,653	15,156,102	12,761,965

Total	15,124,978	23,620,368	24,871,059	20,814,526

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

NOTES TO FINANCIAL STATEMENTS

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

NOTES TO FINANCIAL STATEMENTS

(Reference is made to Notes to Financial Statements included in the NorthWestern Corporation's Annual FERC Form 1 Report)

(Unaudited)

(1) Nature of Operations and Basis of Consolidation

NorthWestern Corporation (NW Corp), doing business as NorthWestern Energy, provides electricity and/or natural gas to approximately 617,600 customers in Montana and Yellowstone National Park. We have generated and distributed electricity and distributed natural gas in Montana since 2002.

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

The Financial Statements included herein have been prepared by NorthWestern, without audit, pursuant to the rules and regulations of the FERC as set forth in its applicable Uniform System of Accounts. Certain information and footnote disclosures normally included in financial statements prepared in accordance with the accounting requirements of the FERC as set forth in its applicable Uniform System of Accounts and published accounting releases have been condensed or omitted pursuant to such rules and regulations; however, we believe that the condensed disclosures provided are adequate to make the information presented not misleading. We recommend that these Financial Statements be read in conjunction with the audited financial statements and related footnotes included in the Annual FERC Form 1 Report for the year ended December 31, 2023.

Financial Statement Presentation

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

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

• Removal and decommissioning costs of generation, transmission and distribution assets are reflected in the Balance Sheets as a component of accumulated depreciation of $432.0 million and $523.7 million as of March 31, 2024 and December 31, 2023, respectively, in accordance with regulatory treatment as compared to regulatory liabilities for GAAP purposes;

• Goodwill is reflected in the Balance Sheets as a utility plant adjustments of $263.8 million as of March 31, 2024 and $357.6 as of December 31, 2023, respectively, in accordance with regulatory treatment, as compared to goodwill for GAAP purposes;

• The write-down of plant values associated with the 2002 acquisition of the Montana operations is reflected in the Balance Sheets as a component of accumulated depreciation of $147.6 million for March 31, 2024 and December 31, 2023, respectively, in accordance with regulatory treatment as compared to plant for GAAP purposes;

• The current portion of gas stored underground is reflected in the Balance Sheets as current and accrued assets, as compared to inventory for GAAP purposes;

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

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

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

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

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

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

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

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

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

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

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

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

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

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

	Three Months Ended March 31, 2024
	Total	Electric	Natural Gas	Other

GAAP Revenues	$382.8	$294.5	$88.3	$ —
Revenue from equity investments	(0.7)	—	(0.7)	—
Grossing revenues / power purchases	15.6	15.6	—	—
Regulatory amortizations	(39.0)	(35.0)	(4.0)	—
Other	2.7	3.0	(0.8)	0.5
FERC Revenues	$361.4	$278.1	$82.8	$0.5

	Three Months Ended March 31, 2023
	Total	Electric	Natural Gas	Other

GAAP Revenues	$454.5	$295.3	$159.2	$ —
Revenue from equity investments	(0.7)	—	(0.7)	—
Grossing revenues / power purchases	32.8	32.8	—	—
Regulatory amortizations	52.6	26.4	26.2	—
Other	8.3	8.5	(0.8)	0.6
FERC Revenues	$547.5	$363.0	$183.9	$0.6

Holding Company Reorganization

On January 1, 2024, we completed the second and final phase of our holding company reorganization. NW Corp contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NWE Public Service, and then distributed its equity interest in NWE Public Service and certain other non-regulated subsidiaries to NorthWestern Energy Group, Inc., resulting in NW Corp owning and operating the Montana regulated utility and NWE Public Service owning and operating the Nebraska and South Dakota utilities, each as a direct subsidiary of NorthWestern Energy Group, Inc. This holding company reorganization was approved by the FERC on November 29, 2022, in Docket No. EC22-72-000.

The below table represents the net assets distributed to NWE Public Service as well as the net assets of certain other non-regulated subsidiaries to NorthWestern Energy Group, Inc.:

ASSETS
Net Utility Plant		$ 979,240,425
Utility Plant Adjustment - Goodwill (116)		93,779,293
Other Property and Investments		15,050,992
Current and Accrued Assets		79,841,412
Deferred Debits		207,845,600
Total assets		$ 1,375,757,722

LIABILITIES
Long-Term Debt		$ 534,000,000
Other Noncurrent Liabilities		24,674,976
Current and Accrued Liabilities		54,485,980
Deferred Credits		189,842,020
Total liabilities		$ 803,002,976

Net Assets		$ 572,754,746

(2) Regulatory Matters

The circumstances set forth in Note 3 - Regulatory Matters to the financial statements included in our Annual FERC Form 1 Report for the year ended December 31, 2023 appropriately represent, in all material respects, the current status of our regulatory matters.

(3) Income Taxes

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

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

	Three Months Ended March 31,
	2024		2023
Income before income taxes	$72,113		$72,434

Income tax calculated at federal statutory rate	15,144	21.0 %	15,211	21.0 %

Permanent or flow-through adjustments:
State income tax, net of federal provisions	1,056	1.5	959	1.3
Flow-through repairs deductions	(5,569)	(7.7)	(5,845)	(8.1)
Production tax credits	(731)	(1.0)	(3,199)	(4.4)
Amortization of excess deferred income tax	—	—	(799)	(1.1)
Plant and depreciation flow-through items	2,276	—	3,186	4.4
Share-based compensation	—	—	688	0.9
Reduction to previously claimed alternative minimum tax credit	—	—	388	0.5
Other, net	899	1.2	(686)	(0.8)
	(2,069)	(2.9)	(5,308)	(7.3)

Income tax expense	$11,277	15.6 %	$9,903	13.7 %

Uncertain Tax Positions

We recognize tax positions that meet the more-likely-than-not threshold as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. We had unrecognized tax benefits of approximately $3.7 million as of March 31, 2024, including approximately $1.5 million that, if recognized, would impact our effective tax rate. In the next twelve months we expect the statute of limitations to expire for certain uncertain tax benefits, which would result in a decrease to our total unrecognized tax benefits of approximately $16.9 million.

Our policy is to recognize interest related to uncertain tax positions in income tax expense. As of March 31, 2024, we have accrued $1.2 million for the payment of interest on the Balance Sheets.

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

(4) Equity Investments

The following table presents our equity investments reflected in the investments in subsidiary companies on the Balance Sheets (in thousands):

	March 31, 2023	December 31, 2023
Havre Pipeline Company, LLC	$12,882	$13,163
Canadian Montana Pipeline Corporation	5,213	5,182
NorthWestern Energy Solutions, Inc.	—	11,797
NorthWestern Services, LLC	—	2,135
Risk Partners Assurance, Ltd.	—	1,097
Total Investments in Subsidiary Companies	$18,095	$33,374

(5) Financing Activities

On March 28, 2024, NW Corp issued and sold $175.0 million aggregate principal amount of Montana First Mortgage Bonds at a fixed interest rate of 5.56 percent maturing on March 28, 2031. These bonds were issued in transactions exempt from the registration requirements of the Securities Act of 1933. Proceeds were used to redeem NW Corp's $100.0 million of Montana First Mortgage Bonds due this year and for other general utility purposes. The bonds are secured by NW Corp's electric and natural gas assets associated with its Montana utility operations.

(6) Related Party Transactions

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

	March 31, 2024	December 31, 2023
Accounts Receivable from Associated Companies:
Northwestern Energy Public Service Corporation	$2,394	—
Havre Pipeline Company, LLC	1,762	591
NorthWestern Energy Solutions, Inc.	2	112
Risk Partners Assurance, Ltd.	(88)	(88)
	$4,158	$615

Accounts Payable to Associated Companies:
Canadian Montana Pipeline Corporation	$2,526	$2,516
NorthWestern Energy Group, Inc.	403	206
NorthWestern Services, LLC	—	2,082
	$2,929	$4,804

(7) Employee Benefit Plans

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

	Pension Benefits		Other Postretirement Benefits
	Three Months Ended March 31,		Three Months Ended March 31,
	2024	2023	2024	2023
Components of Net Periodic Benefit Cost (Credit)
Service cost	$1,286	$1,494	$65	$87
Interest cost	5,179	6,565	120	176
Expected return on plan assets	(5,642)	(6,686)	(319)	(275)
Amortization of prior service credit	—	—	—	29
Recognized actuarial (gain) loss	11	140	—	31
Net periodic benefit cost (credit)	$834	$1,513	$(134)	$48

We did not contribute to our pension plan during the three months ended March 31, 2024. We expect to contribute $10.0 million to our pension plan during the remainder of 2024

(8) Commitments and Contingencies

ENVIRONMENTAL LIABILITIES AND REGULATION

Except as set forth below, the circumstances set forth in Note 19 - Commitments and Contingencies to the financial statements included in our Annual FERC Form 1 Report appropriately represent, in all material respects, the current status of our environmental liabilities and regulation.

Environmental Protection Agency (EPA) Rules

As previously reported, draft Greenhouse Gas (GHG) emission standards for existing coal-fired facilities and new coal and natural gas-fired facilities, including enhanced Mercury Air Toxics Standard (MATS) rules, were released by the EPA in the second quarter of 2023. Our review of these draft rules indicated they would require potentially expensive upgrades at Colstrip Units 3 and 4 to comply, with proposed compliance dates that may not be achievable and / or require technology that is unproven, resulting in significant impacts to costs of the facilities. On April 25, 2024, the EPA released final rules related to GHG emission standards (GHG Rules) for existing coal-fired facilities and new coal and natural gas-fired facilities as well as final rules strengthening the MATS requirements (MATS Rules). The final MATS and GHG Rules will require compliance as early as 2028 and 2032, respectively. We are evaluating how the final MATS and GHG Rules may impact our coal-fired generation facilities and operations.

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

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

LEGAL PROCEEDINGS

State of Montana - Riverbed Rents

On April 1, 2016, the State of Montana (State) filed a complaint on remand (the State’s Complaint) with the Montana First Judicial District Court (State District Court), naming us, along with Talen Montana, LLC (Talen) as defendants. The State claimed it owns the riverbeds underlying 10 of our, and formerly Talen’s, hydroelectric facilities (dams, along with reservoirs and tailraces) on the Missouri, Madison and Clark Fork Rivers, and seeks rents for Talen’s and our use and occupancy of such lands. The facilities at issue include the Hebgen, Madison, Hauser, Holter, Black Eagle, Rainbow, Cochrane, Ryan, and Morony facilities on the Missouri and Madison Rivers and the Thompson Falls facility on the Clark Fork River. We acquired these facilities from Talen in November 2014.

The litigation has a long prior history in state and federal court, including before the United States Supreme Court, as detailed in Note 19 - Commitments and Contingencies to the financial statements included in our Annual FERC Form 1 Report. On April 20, 2016, we removed the case from State District Court to the United States District Court for the District of Montana (Federal District Court). On August 1, 2018, the Federal District Court granted our and Talen’s motions to dismiss the State’s Complaint as it pertains to the navigability of the riverbeds associated with four of our hydroelectric facilities near Great Falls. A bench trial before the Federal District Court commenced January 4, 2022, and concluded on January 18, 2022, which addressed the issue of navigability concerning our other six facilities. On August 25, 2023, the Federal District Court issued its Findings of Fact, Conclusions of Law and Order (the "Order"), which found all but one of the segments of the riverbeds in dispute not navigable, and thus not owned by the State of Montana. The one segment found navigable, and thus owned by the State, was the segment on which the Black Eagle development was located. The State filed a motion to pursue an interlocutory appeal of the Order, and on January 2, 2024, the Federal District Court certified the Order for appeal to the 9th Circuit Court of Appeals. Briefing in the appeal is underway. Damages were bifurcated by agreement and will be tried separately for the Black Eagle segment, and any other segments found navigable should the State prevail on appeal.

We dispute the State’s claims and intend to continue to vigorously defend the lawsuit. If the Federal District Court calculates damages as the State District Court did in 2008, we do not anticipate the resulting annual rent for the Black Eagle segment would have a material impact to our financial position or results of operations. We anticipate that any obligation to pay the State rent for use and occupancy of the riverbeds would be recoverable in rates from customers, although there can be no assurances that the Montana Public Service Commission (MPSC) would approve any such recovery.

Colstrip Arbitration

The remaining depreciable life of our investment in Colstrip Unit 4 is through 2042. The six owners of Colstrip Units 3 and 4 currently share the operating costs pursuant to the terms of an Ownership and Operation Agreement (O&O Agreement). However, several of the owners are mandated by Washington and Oregon law to eliminate coal-fired resources in 2025 and 2029, respectively.

As a result of the mandate, the owners have disagreed on various operational funding decisions, including whether closure requires each owner’s consent under the O&O Agreement. On March 12, 2021, we initiated an arbitration under the O&O Agreement (the “Arbitration”), to resolve the issues of whether closure requires each owner's consent and to clarify each owner's obligations to continue to fund operations until all joint owners agree on closure. The owners previously agreed to stay the Arbitration in an effort to work out a global resolution to the dispute, but that stay has now expired. The parties were not able to agree to continue the stay, and are presently in the process of identifying and retaining an arbitrator (or arbitrators) and are proceeding with the Arbitration.

Colstrip Coal Dust Litigation

On December 14, 2020, a claim was filed against Talen in the Montana Sixteenth Judicial District Court, Rosebud County, Cause No. CV-20-58. Talen is one of the co-owners of Colstrip Unit 3, and the operator of Units 3 and 4. The plaintiffs allege they have suffered adverse effects from coal dust generated during operations associated with Colstrip. On August 26, 2021, the claim was amended to add in excess of 100 plaintiffs. It also added NorthWestern, the other owners of Colstrip, and Westmoreland Rosebud Mining LLC, as defendants. Plaintiffs are seeking economic damages, costs and disbursements, punitive damages, attorneys’ fees, and an injunction prohibiting defendants from allowing coal dust to blow onto plaintiffs’ properties. Since this lawsuit remains in its discovery stages, we are unable to predict outcomes. We continue to evaluate a range of reasonably possible losses.

Yellowstone County Generating Station Air Permit

On October 21, 2021, the Montana Environmental Information Center and the Sierra Club filed a lawsuit in Montana State District Court, against the Montana Department of Environmental Quality (MDEQ) and NorthWestern, alleging that the environmental analysis conducted by MDEQ prior to issuance of the Yellowstone County Generating Station's air quality construction permit was inadequate. On April 4, 2023, the Montana District Court issued an order finding MDEQ's environmental analysis was deficient in not addressing exterior lighting and greenhouse gases and remanded it back to MDEQ to address the deficiencies and vacated the air quality permit pending that remand. As a result of the vacatur of the permit, we paused construction. On June 8, 2023, the Montana District Court granted our motion to stay the order vacating the air quality permit pending the outcome of our appeal to the Montana Supreme Court. Oral argument is presently scheduled for May 15, 2024, and a determination of the appeal will follow. We recommenced construction in June 2023 and expect the plant to be operational by the end of the third quarter 2024. The ultimate resolution of the lawsuit challenging the Yellowstone County Generating Station air quality permit could impact our ability to operate the facility and increase costs.

During the litigation of the air permit, Montana House Bill 971 was signed into law, preventing the MDEQ from, except under certain exceptions, evaluating greenhouse gas emissions and corresponding impacts to the climate in environmental reviews of large projects such as coal mines and power plants. On June 1, 2023, the MDEQ issued its draft supplemental environmental assessment that contained the updated exterior lighting analysis, and the MDEQ indicated that no other analysis was necessary. The comment period concerning the MDEQ’s draft supplemental environmental assessment ended on July 3, 2023. On August 4, 2023, the Montana First Judicial District Court in Held v. State of Montana, a separate case by Montana youths alleging climate damages, issued its order finding House Bill 971 unconstitutional delaying the issuance of the revised Yellowstone County Generating Station's air permit. The Montana Supreme Court granted NorthWestern permission to participate as amicus in the Held appeal. The outcome of the Held case could pose additional delays and costs for the Yellowstone County Generating Station.

Other Legal Proceedings

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

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

STATEMENTS OF ACCUMULATED COMPREHENSIVE INCOME, COMPREHENSIVE INCOME, AND HEDGING ACTIVITIES
Report in columns (b),(c),(d) and (e) the amounts of accumulated other comprehensive income items, on a net-of-tax basis, where appropriate. Report in columns (f) and (g) the amounts of other categories of other cash flow hedges. For each category of hedges that have been accounted for as "fair value hedges", report the accounts affected and the related amounts in a footnote. Report data on a year-to-date basis.
Line No.	Item (a)	Unrealized Gains and Losses on Available-For-Sale Securities (b)	Minimum Pension Liability Adjustment (net amount) (c)	Foreign Currency Hedges (d)	Other Adjustments (e)	Other Cash Flow Hedges Interest Rate Swaps (f)	Other Cash Flow Hedges [Specify] (g)	Totals for each category of items recorded in Account 219 (h)	Net Income (Carried Forward from Page 116, Line 78) (i)	Total Comprehensive Income (j)
1	Balance of Account 219 at Beginning of Preceding Year		535,470		1,434,774	7,675,908		5,705,664
2	Preceding Quarter/Year to Date Reclassifications from Account 219 to Net Income		167,561			113,033		54,528
3	Preceding Quarter/Year to Date Changes in Fair Value				1,306			1,306
4	Total (lines 2 and 3)		167,561		1,306	113,033		55,834	62,530,552	62,474,718
5	Balance of Account 219 at End of Preceding Quarter/Year		367,909		1,433,468	7,562,875		5,761,498
6	Balance of Account 219 at Beginning of Current Year		273,619		1,437,159	7,223,778		5,513,000
7	Current Quarter/Year to Date Reclassifications from Account 219 to Net Income		318,221			113,032		205,189
8	Current Quarter/Year to Date Changes in Fair Value				1,304			1,304
9	Total (lines 7 and 8)		318,221		1,304	113,032		206,493	60,836,016	60,629,523
10	Balance of Account 219 at End of Current Quarter/Year		44,602		1,435,855	7,110,746		5,719,493

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

SUMMARY OF UTILITY PLANT AND ACCUMULATED PROVISIONS FOR DEPRECIATION. AMORTIZATION AND DEPLETION
Report in Column (c) the amount for electric function, in column (d) the amount for gas function, in column (e), (f), and (g) report other (specify) and in column (h) common function.
Line No.	Classification (a)	Total Company For the Current Year/Quarter Ended (b)	Electric (c)	Gas (d)	Other (Specify) (e)	Other (Specify) (f)	Other (Specify) (g)	Common (h)
1	UtilityPlantAbstract UTILITY PLANT
2	UtilityPlantInServiceAbstract In Service
3	UtilityPlantInServiceClassified Plant in Service (Classified)	5,816,959,101	4,435,214,872	1,184,058,571	(a) 1,547,776			196,137,882
4	UtilityPlantInServicePropertyUnderCapitalLeases Property Under Capital Leases	40,890,298				(b) 40,209,537	(c) 680,761
5	UtilityPlantInServicePlantPurchasedOrSold Plant Purchased or Sold
6	UtilityPlantInServiceCompletedConstructionNotClassified Completed Construction not Classified
7	UtilityPlantInServiceExperimentalPlantUnclassified Experimental Plant Unclassified	4,798,750	4,798,750
8	UtilityPlantInServiceClassifiedAndUnclassified Total (3 thru 7)	5,862,648,149	4,440,013,622	1,184,058,571	1,547,776	40,209,537	680,761	196,137,882
9	UtilityPlantLeasedToOthers Leased to Others
10	UtilityPlantHeldForFutureUse Held for Future Use	4,140,227	4,110,361	29,866
11	ConstructionWorkInProgress Construction Work in Progress	391,191,777	336,749,567	23,192,396				31,249,814
12	UtilityPlantAcquisitionAdjustment Acquisition Adjustments	656,318,593	656,318,593
13	UtilityPlantAndConstructionWorkInProgress Total Utility Plant (8 thru 12)	6,914,298,746	5,437,192,143	1,207,280,833	1,547,776	40,209,537	680,761	227,387,696
14	AccumulatedProvisionForDepreciationAmortizationAndDepletionOfPlantUtility Accumulated Provisions for Depreciation, Amortization, & Depletion	2,375,926,960	1,845,320,931	437,158,455	1,138,796	35,685,944		56,622,834
15	UtilityPlantNet Net Utility Plant (13 less 14)	4,538,371,786	3,591,871,212	770,122,378	408,980	4,523,593	680,761	170,764,862
16	DetailOfAccumulatedProvisionsForDepreciationAmortizationAndDepletionAbstract DETAIL OF ACCUMULATED PROVISIONS FOR DEPRECIATION, AMORTIZATION AND DEPLETION
17	AccumulatedProvisionForDepreciationAmortizationAndDepletionUtilityPlantInServiceAbstract In Service:
18	DepreciationUtilityPlantInService Depreciation	2,087,160,240	1,634,753,585	377,026,984	1,138,796	35,685,944		38,554,931
19	AmortizationAndDepletionOfProducingNaturalGasLandAndLandRightsutilityPlantInService Amortization and Depletion of Producing Natural Gas Land and Land Rights	52,921,772		52,921,772
20	AmortizationOfUndergroundStorageLandAndLandRightsutilityPlantInService Amortization of Underground Storage Land and Land Rights
21	AmortizationOfOtherUtilityPlantUtilityPlantInService Amortization of Other Utility Plant	53,197,686	27,920,084	7,209,699				18,067,903
22	DepreciationAmortizationAndDepletionUtilityPlantInService Total in Service (18 thru 21)	2,193,279,698	1,662,673,669	437,158,455	1,138,796	35,685,944		56,622,834
23	DepreciationAmortizationAndDepletionUtilityPlantLeasedToOthersAbstract Leased to Others
24	DepreciationUtilityPlantLeasedToOthers Depreciation
25	AmortizationAndDepletionUtilityPlantLeasedToOthers Amortization and Depletion
26	DepreciationAmortizationAndDepletionUtilityPlantLeasedToOthers Total Leased to Others (24 & 25)
27	DepreciationAndAmortizationUtilityPlantHeldForFutureUseAbstract Held for Future Use
28	DepreciationUtilityPlantHeldForFutureUse Depreciation
29	AmortizationUtilityPlantHeldForFutureUse Amortization
30	DepreciationAndAmortizationUtilityPlantHeldForFutureUse Total Held for Future Use (28 & 29)
31	AbandonmentOfLeases Abandonment of Leases (Natural Gas)
32	AmortizationOfPlantAcquisitionAdjustment Amortization of Plant Acquisition Adjustment	182,647,262	182,647,262
33	AccumulatedProvisionForDepreciationAmortizationAndDepletionOfPlantUtility Total Accum Prov (equals 14) (22,26,30,31,32)	2,375,926,960	1,845,320,931	437,158,455	1,138,796	35,685,944		56,622,834

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

FOOTNOTE DATA

(a) Concept: UtilityPlantInServiceClassified

This column represents regulated propane.

(b) Concept: UtilityPlantInServicePropertyUnderCapitalLeases

This column represents the write-down of plant values associated with the 2002 acquisition of Montana Power and the reduction from fair value to regulated basis associated with the transfer of Colstrip Unit 4 to the regulated utility in 2009.

This column represents an electric default supply capacity and energy sales agreement classified as a capital lease.

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

Electric Plant In Service and Accum Provision For Depr by Function
Report below the original cost of plant in service by function. In addition to Account 101, include Account 102, and Account 106. Report in column (b) the original cost of plant in service and in column(c) the accumulated provision for depreciation and amortization by function.
Line No.	Item (a)	Plant in Service Balance at End of Quarter (b)	Accumulated Depreciation And Amortization Balance at End of Quarter (c)
1	Intangible Plant	38,120,085	13,112,596
2	Steam Production Plant	139,123,168	35,766,872
3	Nuclear Production Plant
4	Hydraulic Production - Conventional	641,737,119	135,835,859
5	Hydraulic Production - Pumped Storage
6	Other Production	287,486,288	79,539,457
7	Transmission	1,185,762,272	434,076,198
8	Distribution	1,983,840,588	864,836,000
9	Regional Transmission and Market Operation
10	General	163,944,102	99,506,687
11	TOTAL (Total of lines 1 through 10)	4,440,013,622	1,662,673,669

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

Transmission Service and Generation Interconnection Study Costs
Report the particulars (details) called for concerning the costs incurred and the reimbursements received for performing transmission service and generator interconnection studies. List each study separately. In column (a) provide the name of the study. In column (b) report the cost incurred to perform the study at the end of period. In column (c) report the account charged with the cost of the study. In column (d) report the amounts received for reimbursement of the study costs at end of period. In column (e) report the account credited with the reimbursement received for performing the study.
Line No.	DescriptionOfStudyPerformed Description (a)	StudyCostsIncurred Costs Incurred During Period (b)	StudyCostsAccountCharged Account Charged (c)	StudyCostsReimbursements Reimbursements Received During the Period (d)	StudyCostsAccountReimbursed Account Credited With Reimbursement (e)
1	Transmission Studies
2	FAC Studies	6,561	253		253
3	SIS Studies	60,272	253	48,129	253
4	Line Interconnection Studies	32,617	253		253
20	Total	99,450		48,129
21	Generation Studies
22	FAC Studies	81,321	253	21,759	253
23	SIS Studies	20,249	253	100,000	253
24	FEA Studies	44,800	253	41,865	253
39	Total	146,370		163,624
40	Grand Total	245,820		211,753

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

OTHER REGULATORY ASSETS (Account 182.3)
Report below the particulars (details) called for concerning other regulatory assets, including rate order docket number, if applicable. Minor items (5% of the Balance in Account 182.3 at end of period, or amounts less than $100,000 which ever is less), may be grouped by classes. For Regulatory Assets being amortized, show period of amortization.
				CREDITS
Line No.	DescriptionAndPurposeOfOtherRegulatoryAssets Description and Purpose of Other Regulatory Assets (a)	OtherRegulatoryAssets Balance at Beginning of Current Quarter/Year (b)	IncreaseDecreaseInOtherRegulatoryAssets Debits (c)	OtherRegulatoryAssetsWrittenOffAccountCharged Written off During Quarter/Year Account Charged (d)	OtherRegulatoryAssetsWrittenOffRecovered Written off During the Period Amount (e)	OtherRegulatoryAssets Balance at end of Current Quarter/Year (f)
1	Flow-through Income Taxes (Montana)	483,949,425	9,250,996	Various	0	493,200,421
2	Excess Deferred Income Taxes (Montana)	44,656,588		410.1	1,815,286	42,841,302
3	Basin Creek Capital Lease (Montana)	3,772,893		243	300,656	3,472,237
4	BPA Residential Exchange Program (Montana) - Docket 2018.8.49 Order 7630; Annual Amortization	1,171,046	1,765,510	254	1,592,577	1,343,979
5	Property Tax Tracker (Montana) - Docket 2017.11.86 - Order 7580a; Annual Amortization	0	4,758,880	(2)407	4,758,880	0
6	FAS 106 (Montana) - Docket 93.6.24 and Docket 2009.9.129	6,855,119	310,672	(2)926	370,478	6,795,313
7	FAS 112 (Montana) - Docket 93.6.24 and Docket 2009.9.129	3,687,034		(2)926	0	3,687,034
8	Compensated Absences (Montana) - Docket 97.11.219	11,383,690	793,396	242	0	12,177,086
9	Pension Plan (Montana)	73,823,616			1,665,819	72,157,797
10	Montana Consumer Counsel Tax (Montana) - Docket 2018.10.67 - Order 7637	0	28,641	Various	28,641	0
11	Montana Public Service Commission (Montana) - Docket 2017.9.78 - Order 7568	2,732,805	166,891		157,004	2,742,692
12	Natural Gas Transmission Verification Program (Montana) - Docket D2016.11.88	0		(2)407		0
13	Montana Wildfire Mitigation	1,623,113	2,385,552.51			4,008,665.51
14	Asset Retirement Obligation (Montana)	17,807,072	0		7,311,569	10,495,503
15	Flow-through Income Taxes (South Dakota)	69,502,155			(a) 69,502,155	0
16	Excess Deferred Income Taxes (South Dakota)	6,747,525			(b) 6,747,525	0
17	Pension Plan (South Dakota)	5,814,695			(c) 5,814,695	0
18	Manufactured Gas Plants (South Dakota) - Docket NG 11-003	11,130,554			(d) 11,130,554	0
19	Field Inventory (South Dakota) - Docket EL 14-106	172,275			(e) 172,275	0
20	Asset Retirement Obligation (South Dakota)	1,005,325			(f) 1,005,325	0
21	Rate Case Costs (South Dakota) Docket EL 23-016	190,623			(g) 190,623	0
44	TOTAL	746,025,553	19,460,538.51		112,564,062	652,922,030

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

FOOTNOTE DATA

(a) Concept: OtherRegulatoryAssetsWrittenOffRecovered

On January 1, 2024, NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities. These balance represent the regulatory assets contributed to NorthWestern Energy Public Service Corporation.

(b) Concept: OtherRegulatoryAssetsWrittenOffRecovered

(d) Concept: OtherRegulatoryAssetsWrittenOffRecovered

(e) Concept: OtherRegulatoryAssetsWrittenOffRecovered

(f) Concept: OtherRegulatoryAssetsWrittenOffRecovered

(g) Concept: OtherRegulatoryAssetsWrittenOffRecovered

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

OTHER REGULATORY LIABILITIES (Account 254)
Report below the particulars (details) called for concerning other regulatory liabilities, including rate order docket number, if applicable. Minor items (5% of the Balance in Account 254 at end of period, or amounts less than $100,000 which ever is less), may be grouped by classes. For Regulatory Liabilities being amortized, show period of amortization.
			DEBITS
Line No.	Description and Purpose of Other Regulatory Liabilities (a)	Balance at Beginning of Current Quarter/Year (b)	Account Credited (c)	Amount (d)	Credits (e)	Balance at End of Current Quarter/Year (f)
1	Excess Deferred Income Taxes (Montana)	117,870,108		1,987,209	0	115,882,899
2	Deferred Gas Storage Sales (Montana) - Docket D2001.1.1; Amortization 2001 - 2039	6,625,428	(2)407	105,129	0	6,520,299
3	Montana Public Service Commission Consumer Counsel Taxes (Montana) - Dockets 2017.9.78 and 2018.10.67	42,444	Various	28,641	0	13,803
4	CTC QF Over/Under Collections (Montana) - Docket 97.9.90 and Docket 2001.1.15; Annual Amortization	904,801		0	236,431	1,141,232
5	Property Tax Tracker (Montana) - Docket 2017.11.86 - Order 7580a; Annual Amortization	29,457,559		10,051,151	2,717	19,409,125
6	Natural Gas Regulatory Deferrals (Montana)	186,016		7,334	61,402	240,084
7	Excess Deferred Income Taxes (South Dakota)	18,511,551	(2)407	(a) 18,511,551		0
8	Current Ad Valorem True-Up (South Dakota) - Docket GE98-001	889,831	(2)407	(b) 889,831		0
9	Aberdeen Manufactured Gas Plant (South Dakota) - Docket NG 11-003	0		(c) 0		0
10	Tax Cut Jobs Act Deferral (South Dakota) - Docket NG-0095 and GE17-003	103,333		(d) 103,333		0
11	Unbilled Revenues (South Dakota)	16,004,291		(e) 16,004,291		0
12	SD Gas Rate Refund	51,667		(f) 51,667		0
41	TOTAL	190,647,029		47,740,137	300,550	143,207,442

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

FOOTNOTE DATA

(a) Concept: DecreaseInOtherRegulatoryLiabilities

On January 1, 2024, NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities. These balance represent the regulatory liabilities contributed to NorthWestern Energy Public Service Corporation.

(b) Concept: DecreaseInOtherRegulatoryLiabilities

On January 1, 2024, NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities. These balance represent the regulatory liabilities contributed to NorthWestern Energy Public Service Corporation.

(d) Concept: DecreaseInOtherRegulatoryLiabilities

On January 1, 2024, NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities. These balance represent the regulatory liabilities contributed to NorthWestern Energy Public Service Corporation.

(e) Concept: DecreaseInOtherRegulatoryLiabilities

On January 1, 2024, NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities. These balance represent the regulatory liabilities contributed to NorthWestern Energy Public Service Corporation.

(f) Concept: DecreaseInOtherRegulatoryLiabilities

On January 1, 2024, NorthWestern Corporation contributed the assets and liabilities of its South Dakota and Nebraska regulated utilities to NorthWestern Energy Public Service Corporation, resulting in NorthWestern Corporation owning and operating the Montana regulated utility and NorthWestern Energy Public Service Corporation owning and operating the Nebraska and South Dakota utilities. These balance represent the regulatory liabilities contributed to NorthWestern Energy Public Service Corporation.

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

Electric Operating Revenues
The following instructions generally apply to the annual version of these pages. Do not report quarterly data in columns (c), (e), (f), and (g). Unbilled revenues and MWH related to unbilled revenues need not be reported separately as required in the annual version of these pages. Report below operating revenues for each prescribed account, and manufactured gas revenues in total. Report number of customers, columns (f) and (g), on the basis of meters, in addition to the number of flat rate accounts; except that where separate meter readings are added for billing purposes, one customer should be counted for each group of meters added. The average number of customers means the average of twelve figures at the close of each month. If increases or decreases from previous period (columns (c),(e), and (g)), are not derived from previously reported figures, explain any inconsistencies in a footnote. Disclose amounts of $250,000 or greater in a footnote for accounts 451, 456, and 457.2. Commercial and industrial Sales, Account 442, may be classified according to the basis of classification (Small or Commercial, and Large or Industrial) regularly used by the respondent if such basis of classification is not generally greater than 1000 Kw of demand. (See Account 442 of the Uniform System of Accounts. Explain basis of classification in a footnote.) See page 108, Important Changes During Period, for important new territory added and important rate increase or decreases. For Lines 2,4,5,and 6, see Page 304 for amounts relating to unbilled revenue by accounts. Include unmetered sales. Provide details of such Sales in a footnote.
Line No.	Title of Account (a)	Operating Revenues Year to Date Quarterly/Annual (b)	Operating Revenues Previous year (no Quarterly) (c)	MEGAWATT HOURS SOLD Year to Date Quarterly/Annual (d)	MEGAWATT HOURS SOLD Amount Previous year (no Quarterly) (e)	AVG.NO. CUSTOMERS PER MONTH Current Year (no Quarterly) (f)	AVG.NO. CUSTOMERS PER MONTH Previous Year (no Quarterly) (g)
1	SalesOfElectricityHeadingAbstract Sales of Electricity
2	ResidentialSalesAbstract (440) Residential Sales	117,363,922	145,233,398	846,076	1,066,482
3	CommercialAndIndustrialSalesAbstract (442) Commercial and Industrial Sales
4	CommercialSalesAbstract Small (or Comm.) (See Instr. 4)	101,494,854	130,317,374	790,070	996,876
5	IndustrialSalesAbstract Large (or Ind.) (See Instr. 4)	11,668,933	19,259,439	78,368	181,076
6	PublicStreetAndHighwayLightingAbstract (444) Public Street and Highway Lighting	3,775,856	4,762,043	6,564	10,163
7	OtherSalesToPublicAuthoritiesAbstract (445) Other Sales to Public Authorities	0	192,545	0	1,633
8	SalesToRailroadsAndRailwaysAbstract (446) Sales to Railroads and Railways	0	0	0	0
9	InterdepartmentalSalesAbstract (448) Interdepartmental Sales	250,030	304,572	1,928	2,285
10	SalesToUltimateConsumersAbstract TOTAL Sales to Ultimate Consumers	234,553,595	300,069,371	1,723,006	2,258,515
11	SalesForResaleAbstract (447) Sales for Resale	15,651,594	31,265,354	317,398	247,126
12	SalesOfElectricityAbstract TOTAL Sales of Electricity	250,205,189	331,334,725	2,040,404	2,505,641
13	ProvisionForRateRefundsAbstract (Less) (449.1) Provision for Rate Refunds	0	27,410
14	RevenuesNetOfProvisionForRefundsAbstract TOTAL Revenues Before Prov. for Refunds	250,205,189	331,307,315	2,040,404	2,505,641
15	OtherOperatingRevenuesAbstract Other Operating Revenues
16	ForfeitedDiscounts (450) Forfeited Discounts	0	102,625
17	MiscellaneousServiceRevenues (451) Miscellaneous Service Revenues	42,448	40,284
18	SalesOfWaterAndWaterPower (453) Sales of Water and Water Power	0
19	RentFromElectricProperty (454) Rent from Electric Property	1,345,020	1,259,027
20	InterdepartmentalRents (455) Interdepartmental Rents	0
21	OtherElectricRevenue (456) Other Electric Revenues	(a) 5,553,486	11,178,313
22	RevenuesFromTransmissionOfElectricityOfOthers (456.1) Revenues from Transmission of Electricity of Others	20,916,733	19,088,421
23	RegionalTransmissionServiceRevenues (457.1) Regional Control Service Revenues
24	MiscellaneousRevenue (457.2) Miscellaneous Revenues
25	OtherMiscellaneousOperatingRevenues Other Miscellaneous Operating Revenues
26	OtherOperatingRevenues TOTAL Other Operating Revenues	27,857,687	31,668,670
27	ElectricOperatingRevenues TOTAL Electric Operating Revenues	278,062,876	362,975,985
Line12, column (b) includes $ of unbilled revenues.
Line12, column (d) includes MWH relating to unbilled revenues

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

FOOTNOTE DATA

(a) Concept: OtherElectricRevenue

	YTD Q1 2024
Other Electric Revenue (456)
Ancillary Services:
Scheduling, System Control and Dispatch	$504,306
Regulation and Frequency Response	304,126
Energy Imbalance	3,845,155
Other Transmission Revenue	(180,356)
Low Income Housing	1,067,653
Steam Sales	-
Sale of Materials	2,482
Miscellaneous	10,120
Total	$5,553,486

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

REGIONAL TRANSMISSION SERVICE REVENUES (Account 457.1)
The respondent shall report below the revenue collected for each service (i.e., control area administration, market administration, etc.) performed pursuant to a Commission approved tariff. All amounts separately billed must be detailed below.
Line No.	Description of Service (a)	Balance at End of Quarter 1 (b)	Balance at End of Quarter 2 (c)	Balance at End of Quarter 3 (d)	Balance at End of Year (e)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46	TOTAL

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

ELECTRIC PRODUCTION, OTHER POWER SUPPLY EXPENSES, TRANSMISSION AND DISTRIBUTION EXPENSES

Report Electric production, other power supply expenses, transmission, regional market, and distribution expenses through the reporting period.
Line No.	Account (a)	Year to Date Quarter (b)
1	PowerProductionExpensesAbstract 1. POWER PRODUCTION AND OTHER SUPPLY EXPENSES
2	SteamPowerGenerationOperationsExpense Steam Power Generation - Operation (500-509)	10,684,744
3	SteamPowerGenerationMaintenanceExpense Steam Power Generation – Maintenance (510-515)	1,643,430
4	PowerProductionExpensesSteamPower Total Power Production Expenses - Steam Power	12,328,174
5	NuclearPowerGenerationOperationsExpense Nuclear Power Generation – Operation (517-525)
6	NuclearPowerGenerationMaintenanceExpense Nuclear Power Generation – Maintenance (528-532)
7	PowerProductionExpensesNuclearPower Total Power Production Expenses - Nuclear Power
8	HydraulicPowerGenerationOperationsExpense Hydraulic Power Generation – Operation (535-540.1)	3,472,766
9	HydraulicPowerGenerationMaintenanceExpense Hydraulic Power Generation – Maintenance (541-545.1)	547,382
10	PowerProductionExpensesHydraulicPower Total Power Production Expenses - Hydraulic Power	4,020,148
11	RentsOtherPowerGeneration Other Power Generation – Operation (546-550.1)	8,527,248
12	MaintenanceOfEnergyStorageEquipmentOtherPowerGeneration Other Power Generation – Maintenance (551-554.1)	354,966
13	MaintenanceOfMiscellaneousOtherPowerGenerationPlant Total Power Production Expenses - Other Power	8,882,214
14	OtherPowerSuplyExpensesAbstract Other Power Supply Expenses
15	PurchasedPower (555) Purchased Power	104,190,867
15.1	PowerPurchasedForStorageOperations (555.1) Power Purchased for Storage Operations
16	SystemControlAndLoadDispatchingElectric (556) System Control and Load Dispatching
17	OtherExpensesOtherPowerSupplyExpenses (557) Other Expenses	26,673,610
18	OtherPowerSupplyExpense Total Other Power Supply Expenses (line 15-17)	77,517,257
19	PowerProductionExpenses Total Power Production Expenses (Total of lines 4, 7, 10, 13 and 18)	102,747,793
20	TransmissionExpensesAbstract 2. TRANSMISSION EXPENSES
21	TransmissionExpensesOperationAbstract Transmission Operation Expenses
22	OperationSupervisionAndEngineeringElectricTransmissionExpenses (560) Operation Supervision and Engineering	1,362,052
24	LoadDispatchReliability (561.1) Load Dispatch-Reliability	232,087
25	LoadDispatchMonitorAndOperateTransmissionSystem (561.2) Load Dispatch-Monitor and Operate Transmission System	221,576
26	LoadDispatchTransmissionServiceAndScheduling (561.3) Load Dispatch-Transmission Service and Scheduling	295,979
27	SchedulingSystemControlAndDispatchServices (561.4) Scheduling, System Control and Dispatch Services
28	ReliabilityPlanningAndStandardsDevelopment (561.5) Reliability, Planning and Standards Development
29	TransmissionServiceStudies (561.6) Transmission Service Studies
30	GenerationInterconnectionStudies (561.7) Generation Interconnection Studies
31	ReliabilityPlanningAndStandardsDevelopmentServices (561.8) Reliability, Planning and Standards Development Services
32	StationExpensesTransmissionExpense (562) Station Expenses	556,789
32.1	OperationOfEnergyStorageEquipmentTransmissionExpense (562.1) Operation of Energy Storage Equipment
33	OverheadLineExpense (563) Overhead Lines Expenses	209,865
34	UndergroundLineExpensesTransmissionExpense (564) Underground Lines Expenses
35	TransmissionOfElectricityByOthers (565) Transmission of Electricity by Others	1,644,939
36	MiscellaneousTransmissionExpenses (566) Miscellaneous Transmission Expenses	34,904
37	RentsTransmissionElectricExpense (567) Rents	425,970
38	OperationSuppliesAndExpensesTransmissionExpense (567.1) Operation Supplies and Expenses (Non-Major)
39	TransmissionOperationExpense TOTAL Transmission Operation Expenses (Lines 22 - 38)	4,984,161
40	TransmissionMaintenanceAbstract Transmission Maintenance Expenses
41	MaintenanceSupervisionAndEngineeringElectricTransmissionExpenses (568) Maintenance Supervision and Engineering	112,384
42	MaintenanceOfStructuresTransmissionExpense (569) Maintenance of Structures	6,470
43	MaintenanceOfComputerHardwareTransmission (569.1) Maintenance of Computer Hardware	684,530
44	MaintenanceOfComputerSoftwareTransmission (569.2) Maintenance of Computer Software	723
45	MaintenanceOfCommunicationEquipmentElectricTransmission (569.3) Maintenance of Communication Equipment
46	MaintenanceOfMiscellaneousRegionalTransmissionPlant (569.4) Maintenance of Miscellaneous Regional Transmission Plant
47	MaintenanceOfStationEquipmentTransmission (570) Maintenance of Station Equipment	215,576
47.1	MaintenanceOfEnergyStorageEquipmentTransmission (570.1) Maintenance of Energy Storage Equipment
48	MaintenanceOfOverheadLinesTransmission (571) Maintenance of Overhead Lines	141,807
49	MaintenanceOfUndergroundLinesTransmission (572) Maintenance of Underground Lines
50	MaintenanceOfMiscellaneousTransmissionPlant (573) Maintenance of Miscellaneous Transmission Plant
51	MaintenanceOfTransmissionPlant (574) Maintenance of Transmission Plant
52	TransmissionMaintenanceExpenseElectric TOTAL Transmission Maintenance Expenses (Lines 41 – 51)	1,161,490
53	TransmissionExpenses Total Transmission Expenses (Lines 39 and 52)	6,145,651
54	RegionalMarketExpensesAbstract 3. REGIONAL MARKET EXPENSES
55	RegionalMarketExpensesOperationAbstract Regional Market Operation Expenses
56	OperationSupervision (575.1) Operation Supervision
57	DayAheadAndRealTimeMarketAdministration (575.2) Day-Ahead and Real-Time Market Facilitation
58	TransmissionRightsMarketAdministration (575.3) Transmission Rights Market Facilitation
59	CapacityMarketAdministration (575.4) Capacity Market Facilitation
60	AncillaryServicesMarketAdministration (575.5) Ancillary Services Market Facilitation
61	MarketMonitoringAndCompliance (575.6) Market Monitoring and Compliance
62	MarketFacilitationMonitoringAndComplianceServices (575.7) Market Facilitation, Monitoring and Compliance Services
63	RegionalMarketOperationExpense Regional Market Operation Expenses (Lines 55 - 62)
64	RegionalMarketExpensesMaintenanceAbstract Regional Market Maintenance Expenses
65	MaintenanceOfStructuresAndImprovementsRegionalMarketExpenses (576.1) Maintenance of Structures and Improvements
66	MaintenanceOfComputerHardware (576.2) Maintenance of Computer Hardware
67	MaintenanceOfComputerSoftware (576.3) Maintenance of Computer Software
68	MaintenanceOfCommunicationEquipmentRegionalMarketExpenses (576.4) Maintenance of Communication Equipment
69	MaintenanceOfMiscellaneousMarketOperationPlant (576.5) Maintenance of Miscellaneous Market Operation Plant
70	RegionalMarketMaintenanceExpense Regional Market Maintenance Expenses (Lines 65-69)
71	RegionalMarketExpenses TOTAL Regional Control and Market Operation Expenses (Lines 63,70)
72	DistributionExpensesAbstract 4. DISTRIBUTION EXPENSES
73	DistributionOperationExpensesElectric Distribution Operation Expenses (580-589)	3,412,778
74	DistributionMaintenanceExpenseElectric Distribution Maintenance Expenses (590-598)	3,163,131
75	DistributionExpenses Total Distribution Expenses (Lines 73 and 74)	6,575,909

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

Electric Customer Accts, Service, Sales, Admin and General Expenses
Report the amount of expenses for customer accounts, service, sales, and administrative and general expenses year to date.
Line No.	Account (a)	Year to Date Quarter (b)
-	CustomerAccountsExpensesOperationsAbstract Operation
1	CustomerAccountExpenses (901-905) Customer Accounts Expenses	2,358,544
2	CustomerServiceAndInformationExpenses (907-910) Customer Service and Information Expenses	894,543
3	SalesExpenses (911-917) Sales Expenses	74,676
4	AdministrativeAndGeneralExpensesAbstract 8. ADMINISTRATIVE AND GENERAL EXPENSES
5	AdministrativeAndGeneralExpensesOperationAbstract Operation
6	AdministrativeAndGeneralSalaries (920) Administrative and General Salaries	7,537,562
7	OfficeSuppliesAndExpenses (921) Office Supplies and Expenses	4,880,686
8	AdministrativeExpensesTransferredCredit (Less) (922) Administrative Expenses Transferred-Credit	1,127,627
9	OutsideServicesEmployed (923) Outside Services Employed	2,066,920
10	PropertyInsurance (924) Property Insurance	1,233,885
11	InjuriesAndDamages (925) Injuries and Damages	4,026,409
12	EmployeePensionsAndBenefits (926) Employee Pensions and Benefits	5,963,259
13	FranchiseRequirements (927) Franchise Requirements
14	RegulatoryCommissionExpenses (928) Regulatory Commission Expenses	820,578
15	DuplicateChargesCredit (929) (Less) Duplicate Charges-Cr.
16	GeneralAdvertisingExpenses (930.1) General Advertising Expenses	119,871
17	MiscellaneousGeneralExpenses (930.2) Miscellaneous General Expenses	4,269,143
18	RentsAdministrativeAndGeneralExpense (931) Rents	135,262
19	AdministrativeAndGeneralOperationExpense TOTAL Operation (Total of lines 6 thru 18)	29,925,948
20	AdministrativeAndGeneralExpensesMaintenanceAbstract Maintenance
21	MaintenanceOfGeneralPlant (935) Maintenance of General Plant	1,340,062
22	AdministrativeAndGeneralExpenses TOTAL Administrative and General Expenses (Total of lines 19 and 21)	31,266,010

Name of Respondent:

NorthWestern Corporation

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

03/31/2024

Year/Period of Report

End of:

2024

TRANSMISSION OF ELECTRICITY FOR OTHERS (Account 456.1) (Including transactions referred to as "wheeling")
Report all transmission of electricity, i.e., wheeling, provided for other electric utilities, cooperatives, other public authorities, qualifying facilities, non-traditional utility suppliers and ultimate customers for the quarter. Use a separate line of data for each distinct type of transmission service involving the entities listed in column (a), (b) and (c). Report in column (a) the company or public authority that paid for the transmission service. Report in column (b) the company or public authority that the energy was received from and in column (c) the company or public authority that the energy was delivered to. Provide the full name of each company or public authority. Do not abbreviate or truncate name or use acronyms. Explain in a footnote any ownership interest in or affiliation the respondent has with the entities listed in columns (a), (b) or (c). In column (d) enter a Statistical Classification code based on the original contractual terms and conditions of the service as follows: FNO - Firm Network Service for Others, FNS - Firm Network Transmission Service for Self, LFP - "Long-Term Firm Point to Point Transmission Service, OLF - Other Long-Term Firm Transmission Service, SFP - Short-Term Firm Point to Point Transmission Reservation, NF - non-firm transmission service, OS - Other Transmission Service and AD - Out-of-Period Adjustments. Use this code for any accounting adjustments or "true-ups" for service provided in prior reporting periods. Provide an explanation in a footnote for each adjustment. See General Instruction for definitions of codes. In column (e), identify the FERC Rate Schedule or Tariff Number, On separate lines, list all FERC rate schedules or contract designations under which service, as identified in column (d), is provided. Report receipt and delivery locations for all single contract path, "point to point" transmission service. In column (f), report the designation for the substation, or other appropriate identification for where energy was received as specified in the contract. In column (g) report the designation for the substation, or other appropriate identification for where energy was delivered as specified in the contract. Report in column (h) the number of megawatts of billing demand that is specified in the firm transmission service contract. Demand reported in column (h) must be in megawatts. Footnote any demand not stated on a megawatts basis and explain. Report in column (i) and (j) the total megawatthours received and delivered. In column (k) through (n), report the revenue amounts as shown on bills or vouchers. In column (k), provide revenues from demand charges related to the billing demand reported in column (h). In column (I), provide revenues from energy charges related to the amount of energy transferred. In column (m), provide the total revenues from all other charges on bills or vouchers rendered, including out of period adjustments. Explain in a footnote all components of the amount shown in column (m). Report in column (n) the total charge shown on bills rendered to the entity Listed in column (a). If no monetary settlement was made, enter zero (0) in column (n). Provide a footnote explaining the nature of the non-monetary settlement, including the amount and type of energy or service rendered. The total amounts in columns (i) and (j) must be reported as Transmission Received and Transmission Delivered for annual report purposes only on Page 401, Lines 16 and 17, respectively. Footnote entries and provide explanations following all required data.
									TRANSFER OF ENERGY		REVENUE FROM TRANSMISSION OF ELECTRICITY FOR OTHERS
Line No.	PaymentByCompanyOrPublicAuthority Payment By (Company of Public Authority) (Footnote Affiliation) (a)	TransmissionEnergyReceivedFromCompanyOrPublicAuthorityName Energy Received From (Company of Public Authority) (Footnote Affiliation) (b)	TransmissionEnergyDeliveredToCompanyOrPublicAuthorityName Energy Delivered To (Company of Public Authority) (Footnote Affiliation) (c)	StatisticalClassificationCode Statistical Classification (d)	RateScheduleTariffNumber Ferc Rate Schedule of Tariff Number (e)	TransmissionPointOfReceipt Point of Receipt (Substation or Other Designation) (f)	TransmissionPointOfDelivery Point of Delivery (Substation or Other Designation) (g)	BillingDemand Billing Demand (MW) (h)	TransmissionOfElectricityForOthersEnergyReceived Megawatt Hours Received (i)	TransmissionOfElectricityForOthersEnergyDelivered Megawatt Hours Delivered (j)	Demand Charges ($) (k)	Energy Charges ($) (l)	Other Charges ($) (m)	RevenuesFromTransmissionOfElectricityForOthers Total Revenues ($) (k+l+m) (n)
1	MONTANA NETWORK TRANSMISSION CUST
2	Ash Grove Cement	Energy Keepers Inc.	Ash Grove Cement	FNO	Montana OATT	Kerr	Clancy, MT	7	8,421	8,421	55,587			55,587
3	Aspen Air U.S., LLC	Talen Energy	Aspen Air Corporation	FNO	Montana OATT	Colstrip	Billings, MT	11	10,978	10,978	68,550			68,550
4	Barretts Minerals, Inc.	Energy Keepers inc.	Barretts Minerals, Inc.	FNO	Montana OATT	Kerr	Dillon, MT	6	6,844	6,844	34,133			34,133
5	Beartooth Electric Cooperative, Inc.	WAPA & Energy Keepers Inc.	Beartooth Electric Cooperative, Inc.	FNO	Montana OATT	Fort Peck & Kerr	Various in Montana	18	26,997	26,997	167,858			167,858
6	Benefis Health Systems	Energy Keepers inc.	Benefis Health Systems	FNO	Montana OATT	Kerr	Various in Montana	7	7,881	7,881	54,569			54,569
7	Big Horn County Electric Coop. Inc.	WAPA	Big Horn County Electric Coop. Inc.	FNO	Montana OATT	Various & Great Falls	Various in Montana	18	20,902	20,902	132,759			132,759
8	Bonneville Power Administration	BPA	Bonneville Power Administration	FNO	Montana OATT	BPAT.NWMT	Various in Montana	185	269,509	269,509	1,627,100			1,627,100
9	Basin Electric Power Cooperative	Morgan Stanley, WAPA, Talen Energy	Basin Electric Power Cooperative	FNO	Montana OATT	Various in Montana	Various NWMT & WAUW	181	251,124	251,124	1,511,103			1,511,103
10	Basin Electric Power Cooperative	Basin Electric & WAPA	Basin Electric Power Cooperative	FNO	Montana OATT	BPAT.NWMT & Great Falls	Various NWMT & WAUW	15	21,887	21,887	133,345			133,345
11	CHS, Inc.	Morgan Stanley	CHS, Inc.	FNO	Montana OATT	MATL.NWMT	Various in Montana	58	91,884	91,884	503,238			503,238
12	City of Great Falls	Energy Keepers Inc.	City of Great Falls	FNO	Montana OATT	Kerr	Various in Montana	6	4,524	4,524	28,955			28,955
13	Talen Montana, LLC	Avista Energy	Colstrip Steam Electric Station	FNO	Montana OATT	Colstrip	Nichols Pump Sub	10	8,312	8,312	39,735			39,735
14	Atlas Power, LLC	Portland General Electric	Atlas Power, LLC	FNO	Montana OATT	Colstrip	Butte, MT	75	131,236	131,236	406,687			406,687
15	Phillips 66 Company	Shell Energy	Phillips 66 Company	FNO	Montana OATT	BPAT.NWMT	Various in Montana	70	116,835	116,835	657,469			657,469
16	Par Montana, LLC	Talen Energy	Par Montana, LLC	FNO	Montana OATT	Colstrip	Billings, MT	35	63,820	63,820	344,995			344,995
17	General Mills Operations, LLC	Talen Energy	General Mills Operations, LLC	FNO	Montana OATT	Colstrip	Great Falls, MT	4	5,231	5,231	29,295			29,295
18	Great Falls Public Schools	Energy Keepers Inc.	Great Falls Public Schools	FNO	Montana OATT	Kerr	Great Falls, MT	3	2,596	2,596	16,135			16,135
19	GCC Three Forks, LLC	Energy Keepers Inc., GCC Three Forks	GCC Three Forks, LLC	FNO	Montana OATT	Kerr & GCC	Three Forks, MT	8	6,625	6,625	50,308			50,308
20	Magris Talc USA, Inc.	Energy Keepers Inc.	Magris Talc USA, Inc.	FNO	Montana OATT	Kerr	Three Forks, MT	6	7,135	7,135	38,353			38,353
21	DFA Dairy Brands Fluid, LLC	Talen Energy	DFA Dairy Brands Fluid, LLC	FNO	Montana OATT	Colstrip	Various in Montana	1	1,337	1,337	8,460			8,460
22	Calumet Refining, LLC	Talen Energy	Calumet Montana Refining Company, Inc.	FNO	Montana OATT	Colstrip	Great Falls, MT	25	38,949	38,949	188,173			188,173
23	Montana Resources	Energy Keepers, Inc.	Montana Resources	FNO	Montana OATT	BPAT.NWMT & Kerr	Butte, MT	50	92,248	92,248	503,351			503,351
24	REC Silicon Company	Shell Energy	REC Silicon Company	FNO	Montana OATT	BPAT.NWMT	Butte, MT	117	131,887	131,887	800,483			800,483
25	Roseburg Forest Products Company	Shell Energy	Roseburg Forest Products Company	FNO	Montana OATT	BPAT.NWMT	Missoula, MT	8	12,683	12,683	62,102			62,102
26	Sibanye-Stillwater	Various	Stillwater Mining Company	FNO	Montana OATT	As Available	Various in Montana	46	73,591	73,591	394,377			394,377
27	Town of Philipsburg	Town of Philipsburg	Town of Philipsburg	FNO	Montana OATT	Philipsburg Substation	Philipsburg, MT	0	186	186	1,030			1,030
28	Western Area Power Administration	WAPA	Western Area Power Administration	FNO	Montana OATT	Crossover	Various NWMT & WAUW	4	2	2	7,667			7,667
29	Montana State University - Bozeman	WAPA	Montana State University - Bozeman	FNO	Montana OATT	Fort Peck West	Great Falls, MT	4	4,849	4,849	25,905			25,905
30	Western Area Power Administration	WAPA	Malmstrom Air Force Base	FNO	Montana OATT	Fort Peck West	Great Falls, MT	4	7,418	7,418	41,645			41,645
31	Altop Energy Trading LLC	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	657	657		3,561		3,561
32	Avista Corporation	AVA	AVA	NF	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	3,014	3,014		16,336		16,336
33	Avista Corporation	AVA	AVA	SFP	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	4,553	4,553		24,570		24,570
34	Avista Corporation	AVA	NWMT	NF	MONTANA OATT	AVAT.NWMT	COLSTRIP	0	713	713		3,864		3,864
35	Avista Corporation	AVA	NWMT	NF	MONTANA OATT	AVAT.NWMT	NWMT.SYSTEM	0	497	497		2,694		2,694
36	Avista Corporation	BPAT	AVA	NF	MONTANA OATT	BPAT.NWMT	AVAT.NWMT	0	100	100		542		542
37	Avista Corporation	NWMT	AVA	NF	MONTANA OATT	MATL.NWMT	AVAT.NWMT	0	1,275	1,275		6,911		6,911
38	Avista Corporation	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	TOWNSEND	0	245	245		1,328		1,328
39	Basin Electric Power Cooperative	BPAT	PPW	NF	MONTANA OATT	BPAT.NWMT	YTP	0	881	881		4,775		4,775
40	Basin Electric Power Cooperative	BPAT	WAPA	NF	MONTANA OATT	BPAT.NWMT	GREATFALLS	0	594	594		3,219		3,219
41	Basin Electric Power Cooperative	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	10	10		54		54
42	Basin Electric Power Cooperative	NWMT	PACE	NF	MONTANA OATT	MATL.NWMT	YTP	0	460	460		2,493		2,493
43	Basin Electric Power Cooperative	NWMT	WAUW	SFP	MONTANA OATT	MATL.NWMT	GREATFALLS	0	1,344	1,344		7,280		7,280
44	Basin Electric Power Cooperative	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	7,568	7,568		41,019		41,019
45	Basin Electric Power Cooperative	PPW	WAPA	SFP	MONTANA OATT	YTP	CROSSOVER	0	1,920	1,920		10,400		10,400
46	Basin Electric Power Cooperative	WAPA	NWMT	NF	MONTANA OATT	CROSSOVER	NWMT.SYSTEM	0	25	25		136		136
47	Basin Electric Power Cooperative	WAPA	PPW	NF	MONTANA OATT	CROSSOVER	YTP	0	3,883	3,883		21,046		21,046
48	Basin Electric Power Cooperative	WAPA	PPW	SFP	MONTANA OATT	CROSSOVER	YTP	0	1,176	1,176		6,370		6,370
49	Basin Electric Power Cooperative	WAPA	WAPA	LFP	MONTANA OATT	CROSSOVER	GREATFALLS	31	67,673	67,673	365,994	0		365,994
50	Black Hills Power Inc.	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	2	2		11		11
51	Bonneville Power Administration	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	2,692	2,692		14,591		14,591
52	Bonneville Power Administration	BPAT	WAPA	NF	MONTANA OATT	BPAT.NWMT	GREATFALLS	0	776	776		4,206		4,206
53	CP Energy Marketing (US) Inc.	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	20,212	20,212		109,549		109,549
54	CP Energy Marketing (US) Inc.	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	689	689		3,734		3,734
55	CP Energy Marketing (US) Inc.	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	805	805		4,363		4,363
56	CP Energy Marketing (US) Inc.	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	MATL.NWMT	0	345	345		1,870		1,870
57	CP Energy Marketing (US) Inc.	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	NWMT.SYSTEM	0	13	13		70		70
58	CP Energy Marketing (US) Inc.	NWMT	NWMT	NF	MONTANA OATT	MATL.NWMT	NWMT.SYSTEM	0	9	9		49		49
59	Cycle Power Partners, LLC	NWMT	PACE	NF	MONTANA OATT	HORSESHOE	BRDY	0	551	551		2,986		2,986
60	Cycle Power Partners, LLC	NWMT	PACE	NF	MONTANA OATT	HORSESHOE	JEFF	0	7,620	7,620		41,300		41,300
61	Dynasty Power Inc.	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	14,999	14,999		81,295		81,295
62	Dynasty Power Inc.	BPAT	WAPA	NF	MONTANA OATT	BPAT.NWMT	CROSSOVER	0	1,781	1,781		9,653		9,653
63	Dynasty Power Inc.	NWMT	AVA	NF	MONTANA OATT	MATL.NWMT	AVAT.NWMT	0	6,101	6,101		33,050		33,050
64	Dynasty Power Inc.	NWMT	BPAT	NF	MONTANA OATT	COLSTRIP	BPAT.NWMT	0	400	400		2,168		2,168
65	Dynasty Power Inc.	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	18,535	18,535		100,414		100,414
66	Dynasty Power Inc.	PACE	NWMT	NF	MONTANA OATT	BRDY	MATL.NWMT	0	140	140		759		759
67	Dynasty Power Inc.	PPW	BPAT	NF	MONTANA OATT	BRDY	BPAT.NWMT	0	79	79		428		428
68	Dynasty Power Inc.	PPW	BPAT	NF	MONTANA OATT	YTP	BPAT.NWMT	0	658	658		3,566		3,566
69	Dynasty Power Inc.	PPW	WAPA	NF	MONTANA OATT	BRDY	CROSSOVER	0	596	596		3,230		3,230
70	Dynasty Power Inc.	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	8,924	8,924		48,368		48,368
71	Dynasty Power Inc.	WAPA	BPAT	NF	MONTANA OATT	CROSSOVER	BPAT.NWMT	0	2,095	2,095		11,349		11,349
72	EDF Trading North America, LLC	AVA	AVA	NF	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	1,149	1,149		6,228		6,228
73	EDF Trading North America, LLC	AVA	NWMT	NF	MONTANA OATT	AVAT.NWMT	COLSTRIP	0	58	58		314		314
74	EDF Trading North America, LLC	AVA	NWMT	NF	MONTANA OATT	AVAT.NWMT	NWMT.SYSTEM	0	70	70		379		379
75	EDF Trading North America, LLC	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	COLSTRIP	0	716	716		3,881		3,881
76	EDF Trading North America, LLC	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	2,361	2,361		12,797		12,797
77	EDF Trading North America, LLC	NWMT	AVA	NF	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	80	80		434		434
78	EDF Trading North America, LLC	NWMT	BPAT	NF	MONTANA OATT	COLSTRIP	BPAT.NWMT	0	24,716	24,716		133,901		133,901
79	EDF Trading North America, LLC	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	COLSTRIP	0	1,165	1,165		6,314		6,314
80	EDF Trading North America, LLC	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	MATL.NWMT	0	244	244		1,322		1,322
81	EDF Trading North America, LLC	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	NWMT.SYSTEM	0	3	3		16		16
82	EDF Trading North America, LLC	NWMT	NWMT	NF	MONTANA OATT	JUDITHGAP	COLSTRIP	0	20	20		108		108
83	EDF Trading North America, LLC	NWMT	NWMT	NF	MONTANA OATT	NWMTIMBALANC	NWMT.SYSTEM	0	507	507		2,748		2,748
84	EDF Trading North America, LLC	NWMT	NWMT	NF	MONTANA OATT	TFALLS	COLSTRIP	0	102	102		553		553
85	EDF Trading North America, LLC	NWMT	PPW	NF	MONTANA OATT	COLSTRIP	BRDY	0	2,694	2,694		14,597		14,597
86	EDF Trading North America, LLC	NWMT	PPW	NF	MONTANA OATT	COLSTRIP	YTP	0	860	860		4,661		4,661
87	EDF Trading North America, LLC	PACE	NWMT	NF	MONTANA OATT	BRDY	COLSTRIP	0	60	60		325		325
88	EDF Trading North America, LLC	PPW	NWMT	NF	MONTANA OATT	BRDY	NWMT.SYSTEM	0	150	150		813		813
89	Energy Keepers Inc.	BPAT	NWMT	SFP	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	20,115	20,115		106,245		106,245
90	Energy Keepers Inc.	NWMT	AVA	NF	MONTANA OATT	KERR	AVAT.NWMT	0	384	384		2,081		2,081
91	Energy Keepers Inc.	NWMT	BPAT	LFP	MONTANA OATT	KERR	BPAT.NWMT	40	87,320	87,320	472,250	0		472,250
92	Energy Keepers Inc.	NWMT	BPAT	NF	MONTANA OATT	KERR	BPAT.NWMT	0	356	356		1,930		1,930
93	Energy Keepers Inc.	NWMT	PACE	LFP	MONTANA OATT	KERR	BRDY	50	109,150	109,150	590,312	0		590,312
94	Guzman Energy, LLC	AVA	AVA	NF	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	35	35		190		190
95	Guzman Energy, LLC	BPAT	PPW	NF	MONTANA OATT	BPAT.NWMT	BRDY	0	35	35		190		190
96	Guzman Energy, LLC	PPW	AVA	NF	MONTANA OATT	YTP	AVAT.NWMT	0	105	105		569		569
97	Guzman Energy, LLC	PPW	BPAT	NF	MONTANA OATT	YTP	BPAT.NWMT	0	4,012	4,012		21,742		21,742
98	Guzman Energy, LLC	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	813	813		4,406		4,406
99	Guzman Energy, LLC	WAPA	BPAT	NF	MONTANA OATT	CROSSOVER	BPAT.NWMT	0	2,092	2,092		11,339		11,339
100	Guzman Energy, LLC	WAPA	PPW	NF	MONTANA OATT	CROSSOVER	YTP	0	1,510	1,510		8,184		8,184
101	Guzman Energy, LLC	WAPA	PPW	SFP	MONTANA OATT	CROSSOVER	YTP	0	3,624	3,624		19,630		19,630
102	Iberdrola Renewables Inc.	PPW	AVA	NF	MONTANA OATT	BRDY	AVAT.NWMT	0	36	36		195		195
103	Iberdrola Renewables Inc.	PPW	BPAT	NF	MONTANA OATT	BRDY	BPAT.NWMT	0	9	9		49		49
104	Idaho Power Company	AVA	PPW	NF	MONTANA OATT	AVAT.NWMT	MLCK	0	27	27		146		146
105	Idaho Power Company	BPAT	PPW	NF	MONTANA OATT	BPAT.NWMT	MLCK	0	432	432		2,341		2,341
106	Idaho Power Company	NWMT	BPAT	NF	MONTANA OATT	COLSTRIP	BPAT.NWMT	0	6	6		33		33
107	Idaho Power Company	PPW	BPAT	NF	MONTANA OATT	YTP	BPAT.NWMT	0	24	24		130		130
108	Macquarie Energy, LLC	AVA	NWMT	NF	MONTANA OATT	AVAT.NWMT	NWMT.SYSTEM	0	1,830	1,830		9,915		9,915
109	Macquarie Energy, LLC	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	600	600		3,250		3,250
110	Macquarie Energy, LLC	NWMT	AVA	NF	MONTANA OATT	BGI	AVAT.NWMT	0	60	60		325		325
111	Macquarie Energy, LLC	NWMT	AVA	NF	MONTANA OATT	MATL.NWMT	AVAT.NWMT	0	15,716	15,716		85,032		85,032
112	Macquarie Energy, LLC	NWMT	BPA	NF	MONTANA OATT	BGI	BPAT.NWMT	0	880	880		4,854		4,854
113	Macquarie Energy, LLC	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	2,397	2,397		12,986		12,986
114	Macquarie Energy, LLC	NWMT	NWMT	NF	MONTANA OATT	MATL.NWMT	NWMT.SYSTEM	0	12,912	12,912		69,846		69,846
115	Macquarie Energy, LLC	NWMT	PACE	NF	MONTANA OATT	MATL.NWMT	BRDY	0	400	400		2,168		2,168
116	Macquarie Energy, LLC	PPW	AVA	NF	MONTANA OATT	YTP	AVAT.NWMT	0	56	56		304		304
117	Macquarie Energy, LLC	PPW	AVA	SFP	MONTANA OATT	BRDY	AVAT.NWMT	0	78,712	78,712		428,915		428,915
118	MAG Energy Solutions	AVA	NWMT	NF	MONTANA OATT	AVAT.NWMT	MATL.NWMT	0	1	1		5		5
119	MAG Energy Solutions	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	266	266		1,442		1,442
120	MAG Energy Solutions	PACE	NWMT	NF	MONTANA OATT	BRDY	MATL.NWMT	0	454	454		2,461		2,461
121	MAG Energy Solutions	PPW	AVA	NF	MONTANA OATT	BRDY	AVAT.NWMT	0	342	342		1,854		1,854
122	MAG Energy Solutions	PPW	AVA	NF	MONTANA OATT	YTP	AVAT.NWMT	0	1,728	1,728		9,360		9,360
123	MAG Energy Solutions	PPW	WAPA	NF	MONTANA OATT	BRDY	CROSSOVER	0	269	269		1,458		1,458
124	MAG Energy Solutions	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	398	398		2,157		2,157
125	MAG Energy Solutions	WAPA	AVA	NF	MONTANA OATT	CROSSOVER	AVAT.NWMT	0	104	104		564		564
126	Mercuria Energy America, LLC	PPW	NWMT	SFP	MONTANA OATT	YTP	NWMT.SYSTEM	0	33	33		0		0
127	Mercuria Energy America, LLC	WAPA	NWMT	SFP	MONTANA OATT	CROSSOVER	NWMT.SYSTEM	0	6	6		0		0
128	Morgan Stanley Capital Group, Inc.	AVA	AVA	NF	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	100	100		542		542
129	Morgan Stanley Capital Group, Inc.	AVA	BPAT	NF	MONTANA OATT	AVAT.NWMT	BPAT.NWMT	0	150	150		813		813
130	Morgan Stanley Capital Group, Inc.	AVA	GWA	NF	MONTANA OATT	AVAT.NWMT	GLWND1	0	45	45		244		244
131	Morgan Stanley Capital Group, Inc.	AVA	GWA	NF	MONTANA OATT	AVAT.NWMT	GLWND2	0	24	24		130		130
132	Morgan Stanley Capital Group, Inc.	AVA	NWMT	NF	MONTANA OATT	AVAT.NWMT	MATL.NWMT	0	6,919	6,919		37,420		37,420
133	Morgan Stanley Capital Group, Inc.	AVA	NWMT	SFP	MONTANA OATT	AVAT.NWMT	MATL.NWMT	0	9,120	9,120		49,400		49,400
134	Morgan Stanley Capital Group, Inc.	BPAT	GWA	NF	MONTANA OATT	BPAT.NWMT	GLWND1	0	1,735	1,735		9,404		9,404
135	Morgan Stanley Capital Group, Inc.	BPAT	GWA	NF	MONTANA OATT	BPAT.NWMT	GLWND2	0	1,081	1,081		5,859		5,859
136	Morgan Stanley Capital Group, Inc.	BPAT	GWA	SFP	MONTANA OATT	BPAT.NWMT	GLWND1	0	360	360		1,950		1,950
137	Morgan Stanley Capital Group, Inc.	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	23,330	23,330		126,449		126,449
138	Morgan Stanley Capital Group, Inc.	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	6	6		33		33
139	Morgan Stanley Capital Group, Inc.	BPAT	NWMT	SFP	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	85,284	85,284		466,440		466,440
140	Morgan Stanley Capital Group, Inc.	BPAT	PPW	SFP	MONTANA OATT	BPAT.NWMT	JEFF	0	9	9		0		0
141	Morgan Stanley Capital Group, Inc.	GWA	AVA	NF	MONTANA OATT	GLWND1	AVAT.NWMT	0	5,900	5,900		31,978		31,978
142	Morgan Stanley Capital Group, Inc.	GWA	AVA	NF	MONTANA OATT	GLWND2	AVAT.NWMT	0	3,092	3,092		16,759		16,759
143	Morgan Stanley Capital Group, Inc.	GWA	BPAT	NF	MONTANA OATT	GLWND1	BPAT.NWMT	0	82,144	82,144		444,954		444,954
144	Morgan Stanley Capital Group, Inc.	GWA	BPAT	NF	MONTANA OATT	GLWND2	BPAT.NWMT	0	44,301	44,301		239,914		239,914
145	Morgan Stanley Capital Group, Inc.	GWA	NWMT	NF	MONTANA OATT	GLWND1	MATL.NWMT	0	1,413	1,413		7,658		7,658
146	Morgan Stanley Capital Group, Inc.	GWA	NWMT	NF	MONTANA OATT	GLWND2	MATL.NWMT	0	839	839		4,547		4,547
147	Morgan Stanley Capital Group, Inc.	GWA	NWMT	NF	MONTANA OATT	GLWND2	NWMT.SYSTEM	0	13,098	13,098		70,830		70,830
148	Morgan Stanley Capital Group, Inc.	GWA	PPW	SFP	MONTANA OATT	GLWND1	BRDY	0	1,200	1,200		6,500		6,500
149	Morgan Stanley Capital Group, Inc.	NWMT	AVA	NF	MONTANA OATT	MATL.NWMT	AVAT.NWMT	0	24,582	24,582		133,344		133,344
150	Morgan Stanley Capital Group, Inc.	NWMT	BPAT	NF	MONTANA OATT	COLSTRIP	BPAT.NWMT	0	1,367	1,367		7,409		7,409
151	Morgan Stanley Capital Group, Inc.	NWMT	BPAT	NF	MONTANA OATT	HARDIN	BPAT.NWMT	0	72	72		390		390
152	Morgan Stanley Capital Group, Inc.	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	119,944	119,944		649,351		649,351
153	Morgan Stanley Capital Group, Inc.	NWMT	GWA	NF	MONTANA OATT	COLSTRIP	GLWND2	0	23	23		125		125
154	Morgan Stanley Capital Group, Inc.	NWMT	GWA	NF	MONTANA OATT	HARDIN	GLWND1	0	44	44		238		238
155	Morgan Stanley Capital Group, Inc.	NWMT	GWA	NF	MONTANA OATT	HARDIN	GLWND2	0	124	124		672		672
156	Morgan Stanley Capital Group, Inc.	NWMT	GWA	NF	MONTANA OATT	MATL.NWMT	GLWND1	0	146	146		791		791
157	Morgan Stanley Capital Group, Inc.	NWMT	GWA	NF	MONTANA OATT	MATL.NWMT	GLWND2	0	237	237		1,285		1,285
158	Morgan Stanley Capital Group, Inc.	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	MATL.NWMT	0	2,617	2,617		14,177		14,177
159	Morgan Stanley Capital Group, Inc.	NWMT	NWMT	NF	MONTANA OATT	HARDIN	MATL.NWMT	0	1,019	1,019		5,523		5,523
160	Morgan Stanley Capital Group, Inc.	NWMT	NWMT	SFP	MONTANA OATT	COLSTRIP	MATL.NWMT	0	12,359	12,359		67,080		67,080
161	Morgan Stanley Capital Group, Inc.	NWMT	NWMT	SFP	MONTANA OATT	HARDIN	MATL.NWMT	0	2,374	2,374		12,845		12,845
162	Morgan Stanley Capital Group, Inc.	NWMT	PACE	NF	MONTANA OATT	MATL.NWMT	BRDY	0	32	32		173		173
163	Morgan Stanley Capital Group, Inc.	PACE	NWMT	NF	MONTANA OATT	BRDY	MATL.NWMT	0	448	448		2,428		2,428
164	Morgan Stanley Capital Group, Inc.	WAPA	AVA	NF	MONTANA OATT	GREATFALLS	AVAT.NWMT	0	5,399	5,399		29,263		29,263
165	Morgan Stanley Capital Group, Inc.	WAPA	BPAT	NF	MONTANA OATT	GREATFALLS	BPAT.NWMT	0	794	794		4,303		4,303
166	Morgan Stanley Capital Group, Inc.	WAPA	NWMT	NF	MONTANA OATT	GREATFALLS	NWMT.SYSTEM	0	12	12		65		65
167	Morgan Stanley Capital Group, Inc.	WAPA	WAPA	NF	MONTANA OATT	GREATFALLS	CROSSOVER	0	2	2		11		11
168	Morgan Stanley Capital Group, Inc.	WAUW	NWMT	NF	MONTANA OATT	GREATFALLS	MATL.NWMT	0	1,257	1,257		6,813		6,813
169	Naturener Power Watch, LLC	GWA	GWA	SFP	MONTANA OATT	GLWND1	GLWND2	0	10,915	10,915		59,025		59,025
170	PacifiCorp	PPW	NWMT	NF	MONTANA OATT	MLCK	JEFF	0	414	414		2,243		2,243
171	Phillips 66 Energy Trading, LLC	PPW	AVA	SFP	MONTANA OATT	BRDY	AVAT.NWMT	0	50,060	50,060		267,580		267,580
172	Portland General Electric Company	AVA	AVA	NF	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	315	315		1,707		1,707
173	Portland General Electric Company	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	COLSTRIP	0	740	740		4,011		4,011
174	Portland General Electric Company	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	75	75		407		407
175	Portland General Electric Company	NWMT	AVA	NF	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	136	136		737		737
176	Portland General Electric Company	NWMT	BPAT	LFP	MONTANA OATT	CLEARWATER	BPAT.NWMT	300	654,900	654,900	3,541,875	0		3,541,875
177	Portland General Electric Company	NWMT	BPAT	NF	MONTANA OATT	COLSTRIP	BPAT.NWMT	0	1,050	1,050		5,691		5,691
178	Portland General Electric Company	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	MATL.NWMT	0	19,275	19,275		104,471		104,471
179	Portland General Electric Company	NWMT	PPW	NF	MONTANA OATT	COLSTRIP	BRDY	0	820	820		4,444		4,444
180	Portland General Electric Company	NWMT	PPW	NF	MONTANA OATT	COLSTRIP	JEFF	0	716	716		3,881		3,881
181	Portland General Electric Company	PACE	NWMT	NF	MONTANA OATT	BRDY	COLSTRIP	0	20	20		108		108
182	Powerex Corporation	AVA	PPW	NF	MONTANA OATT	AVAT.NWMT	YTP	0	100	100		542		542
183	Powerex Corporation	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	3,745	3,745		20,298		20,298
184	Powerex Corporation	BPAT	PPW	LFP	MONTANA OATT	BPAT.NWMT	BRDY	76	165,908	165,908	897,275	0		897,275
185	Powerex Corporation	BPAT	PPW	LFP	MONTANA OATT	BPAT.NWMT	JEFF	71	154,993	154,993	838,244	0		838,244
186	Powerex Corporation	BPAT	PPW	NF	MONTANA OATT	BPAT.NWMT	YTP	0	3,512	3,512		19,035		19,035
187	Powerex Corporation	BPAT	WAPA	NF	MONTANA OATT	BPAT.NWMT	CROSSOVER	0	24	24		130		130
188	Powerex Corporation	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	342	342		1,854		1,854
189	Powerex Corporation	NWMT	PACE	NF	MONTANA OATT	MATL.NWMT	BRDY	0	100	100		542		542
190	Powerex Corporation	PPW	AVA	NF	MONTANA OATT	YTP	AVAT.NWMT	0	34	34		184		184
191	Powerex Corporation	WAPA	BPAT	NF	MONTANA OATT	CROSSOVER	BPAT.NWMT	0	187	187		1,014		1,014
192	Public Service Company of Colorado	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	2,678	2,678		14,515		14,515
193	Puget Sound Energy Marketing	AVA	AVA	NF	MONTANA OATT	COLSTRIP	AVAT.NWMT	0	1,830	1,830		9,919		9,919
194	Puget Sound Energy Marketing	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	COLSTRIP	0	1,128	1,128		6,114		6,114
195	Puget Sound Energy Marketing	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	216	216		1,171		1,171
196	Puget Sound Energy Marketing	NWMT	BPAT	NF	MONTANA OATT	COLSTRIP	BPAT.NWMT	0	3,505	3,505		18,997		18,997
197	Puget Sound Energy Marketing	NWMT	NWMT	NF	MONTANA OATT	COLSTRIP	NWMT.SYSTEM	0	1	1		5		5
198	Puget Sound Energy Marketing	PACE	NWMT	NF	MONTANA OATT	YTP	COLSTRIP	0	40	40		217		217
199	Rainbow Electric Marketing Corp.	AVA	NWMT	NF	MONTANA OATT	AVAT.NWMT	MATL.NWMT	0	2,350	2,350		12,737		12,737
200	Rainbow Electric Marketing Corp.	AVA	WAPA	NF	MONTANA OATT	AVAT.NWMT	CROSSOVER	0	50	50		271		271
201	Rainbow Electric Marketing Corp.	BPAT	BPAT	NF	MONTANA OATT	BPAT.NWMT	BPAT.NWMT	0	479	479		2,596		2,596
202	Rainbow Electric Marketing Corp.	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	3,598	3,598		19,501		19,501
203	Rainbow Electric Marketing Corp.	BPAT	WAPA	NF	MONTANA OATT	BPAT.NWMT	CROSSOVER	0	1,234	1,234		6,688		6,688
204	Rainbow Electric Marketing Corp.	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	170	170		921		921
205	Rainbow Electric Marketing Corp.	PACE	NWMT	NF	MONTANA OATT	BRDY	MATL.NWMT	0	441	441		2,390		2,390
206	Rainbow Electric Marketing Corp.	PACE	NWMT	NF	MONTANA OATT	JEFF	MATL.NWMT	0	847	847		4,591		4,591
207	Rainbow Electric Marketing Corp.	PACE	NWMT	NF	MONTANA OATT	YTP	MATL.NWMT	0	705	705		3,821		3,821
208	Rainbow Electric Marketing Corp.	PPW	AVA	NF	MONTANA OATT	JEFF	AVAT.NWMT	0	168	168		911		911
209	Rainbow Electric Marketing Corp.	PPW	AVA	NF	MONTANA OATT	MLCK	AVAT.NWMT	0	344	344		1,864		1,864
210	Rainbow Electric Marketing Corp.	PPW	BPAT	NF	MONTANA OATT	JEFF	BPAT.NWMT	0	4,970	4,970		26,926		26,926
211	Rainbow Electric Marketing Corp.	PPW	BPAT	NF	MONTANA OATT	YTP	BPAT.NWMT	0	321	321		1,740		1,740
212	Rainbow Electric Marketing Corp.	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	17,336	17,336		93,961		93,961
213	Rainbow Electric Marketing Corp.	PPW	WAPA	SFP	MONTANA OATT	YTP	CROSSOVER	0	4,992	4,992		27,040		27,040
214	Shell Energy North America	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	MATL.NWMT	0	2,375	2,375		12,873		12,873
215	Shell Energy North America	BPAT	NWMT	NF	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	33	33		179		179
216	Shell Energy North America	BPAT	WAPA	NF	MONTANA OATT	BPAT.NWMT	CROSSOVER	0	3,560	3,560		19,295		19,295
217	Shell Energy North America	NWMT	AVA	NF	MONTANA OATT	HAUSER	AVAT.NWMT	0	32	32		173		173
218	Shell Energy North America	NWMT	WAUW	NF	MONTANA OATT	HAUSER	CROSSOVER	0	56	56		304		304
219	Shell Energy North America	WAPA	BPAT	NF	MONTANA OATT	CROSSOVER	BPAT.NWMT	0	1,324	1,324		7,176		7,176
220	TEC Energy Inc.	NWMT	WAUW	NF	MONTANA OATT	MATL.NWMT	CROSSOVER	0	3	3		16		16
221	TEC Energy Inc.	PACE	NWMT	NF	MONTANA OATT	BRDY	MATL.NWMT	0	1,581	1,581		8,568		8,568
222	TEC Energy Inc.	PPW	BPAT	NF	MONTANA OATT	YTP	BPAT.NWMT	0	120	120		650		650
223	TEC Energy Inc.	PPW	WAPA	NF	MONTANA OATT	BRDY	CROSSOVER	0	45	45		244		244
224	The Energy Authority	AVA	BPAT	NF	MONTANA OATT	AVAT.NWMT	BPAT.NWMT	0	63	63		341		341
225	The Energy Authority	BPAT	NWMT	SFP	MONTANA OATT	BPAT.NWMT	NWMT.SYSTEM	0	8,232	8,232		44,492		44,492
226	The Energy Authority	BPAT	WAPA	NF	MONTANA OATT	BPAT.NWMT	CROSSOVER	0	445	445		2,412		2,412
227	The Energy Authority	NWMT	AVA	NF	MONTANA OATT	MATL.NWMT	AVAT.NWMT	0	1,136	1,136		6,157		6,157
228	The Energy Authority	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	580	580		3,144		3,144
229	The Energy Authority	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	4,215	4,215		22,841		22,841
230	The Energy Authority	WAPA	AVA	NF	MONTANA OATT	CROSSOVER	AVAT.NWMT	0	2,736	2,736		14,822		14,822
231	The Energy Authority	WAPA	AVA	SFP	MONTANA OATT	CROSSOVER	AVAT.NWMT	0	41	41		0		0
232	The Energy Authority	WAPA	BPAT	NF	MONTANA OATT	CROSSOVER	BPAT.NWMT	0	398	398		2,157		2,157
233	The Energy Authority	WAPA	PPW	NF	MONTANA OATT	CROSSOVER	YTP	0	661	661		3,583		3,583
234	Transalta Energy Marketing (US) Inc.	AVA	BPAT	NF	MONTANA OATT	AVAT.NWMT	BPAT.NWMT	0	1,512	1,512		8,190		8,190
235	Transalta Energy Marketing (US) Inc.	BPAT	PPW	NF	MONTANA OATT	BPAT.NWMT	BRDY	0	200	200		1,084		1,084
236	Transalta Energy Marketing (US) Inc.	BPAT	WAPA	NF	MONTANA OATT	BPAT.NWMT	CROSSOVER	0	6,094	6,094		33,028		33,028
237	Transalta Energy Marketing (US) Inc.	NWMT	BPAT	NF	MONTANA OATT	MATL.NWMT	BPAT.NWMT	0	2,789	2,789		15,116		15,116
238	Transalta Energy Marketing (US) Inc.	PPW	BPAT	NF	MONTANA OATT	BRDY	BPAT.NWMT	0	263	263		1,425		1,425
239	Transalta Energy Marketing (US) Inc.	PPW	BPAT	NF	MONTANA OATT	YTP	BPAT.NWMT	0	1,260	1,260		6,829		6,829
240	Transalta Energy Marketing (US) Inc.	PPW	WAPA	NF	MONTANA OATT	YTP	CROSSOVER	0	1,675	1,675		9,079		9,079
241	Transalta Energy Marketing (US) Inc.	PPW	WAPA	SFP	MONTANA OATT	YTP	CROSSOVER	0	7,776	7,776		42,120		42,120
242	Transalta Energy Marketing (US) Inc.	WAPA	BPAT	NF	MONTANA OATT	CROSSOVER	BPAT.NWMT	0	764	764		4,141		4,141
243	Transalta Energy Marketing (US) Inc.	WAPA	PPW	NF	MONTANA OATT	CROSSOVER	BRDY	0	520	520		2,818		2,818
244	Western Area Power Administration	NWMT	WAPA	NF	MONTANA OATT	CANYONFERRY	GREATFALLS	0	228	228		1,236		1,236
245	Western Area Power Administration	NWMT	WAPA	SFP	MONTANA OATT	CANYONFERRY	CROSSOVER	0	72,039	72,039		389,565		389,565
246	Western Area Power Administration	PPW	WAPA	SFP	MONTANA OATT	YTP	CROSSOVER	0	27,260	27,260		147,290		147,290
247	Western Area Power Administration	WAPA	PPW	SFP	MONTANA OATT	CROSSOVER	YTP	0	65,490	65,490		354,150		354,150
248	Western Area Power Administration	WAPA	WAPA	NF	MONTANA OATT	GREATFALLS	CROSSOVER	0	43,660	43,660		236,100		236,100
249	Western Area Power Administration	WAUW	NWMT	SFP	MONTANA OATT	GREATFALLS	GTFALLSNWMT	0	4,366	4,366		23,610		23,610
250	Rounding										4			4
251													0
35	TOTAL							1,550	3,825,023	3,825,023	14,639,321	6,277,412	0	20,916,733

TRANSMISSION OF ELECTRICITY BY OTHERS (Account 565)
Report all transmission, i.e. wheeling or electricity provided by other electric utilities, cooperatives, municipalities, other public authorities, qualifying facilities, and others for the quarter. In column (a) report each company or public authority that provided transmission service. Provide the full name of the company, abbreviate if necessary, but do not truncate name or use acronyms. Explain in a footnote any ownership interest in or affiliation with the transmission service provider. Use additional columns as necessary to report all companies or public authorities that provided transmission service for the quarter reported. In column (b) enter a Statistical Classification code based on the original contractual terms and conditions of the service as follows: FNS - Firm Network Transmission Service for Self, LFP - Long-Term Firm Point-to-Point Transmission Reservations. OLF - Other Long-Term Firm Transmission Service, SFP - Short-Term Firm Point-to- Point Transmission Reservations, NF - Non-Firm Transmission Service, and OS - Other Transmission Service. See General Instructions for definitions of statistical classifications. Report in column (c) and (d) the total megawatt hours received and delivered by the provider of the transmission service. Report in column (e), (f) and (g) expenses as shown on bills or vouchers rendered to the respondent. In column (e) report the demand charges and in column (f) energy charges related to the amount of energy transferred. On column (g) report the total of all other charges on bills or vouchers rendered to the respondent, including any out of period adjustments. Explain in a footnote all components of the amount shown in column (g). Report in column (h) the total charge shown on bills rendered to the respondent. If no monetary settlement was made, enter zero in column (h). Provide a footnote explaining the nature of the non-monetary settlement, including the amount and type of energy or service rendered. Enter ""TOTAL"" in column (a) as the last line. Footnote entries and provide explanations following all required data.
			TRANSFER OF ENERGY		EXPENSES FOR TRANSMISSION OF ELECTRICITY BY OTHERS
Line No.	NameOfCompanyOrPublicAuthorityTransmissionOfElectricityByOthers Name of Company or Public Authority (Footnote Affiliations) (a)	StatisticalClassificationCode Statistical Classification (b)	TransmissionOfElectricityByOthersEnergyReceived MegaWatt Hours Received (c)	TransmissionOfElectricityByOthersEnergyDelivered MegaWatt Hours Delivered (d)	DemandChargesTransmissionOfElectricityByOthers Demand Charges ($) (e)	EnergyChargesTransmissionOfElectricityByOthers Energy Charges ($) (f)	OtherChargesTransmissionOfElectricityByOthers Other Charges ($) (g)	ChargesForTransmissionOfElectricityByOthers Total Cost of Transmission ($) (h)
1	Vigilante Elec Coop	OLF	6,349	6,349	12,600			12,600
2	Bonneville Power Administration	OLF					(a) 934,215	934,215
3	Sun River Elect Coop	OLF	3,638	3,638	20,009		0	20,009
4	Southwest Power Pool	FNS	29,153	29,153	366,817		0	366,817
5								0
6	Supply:							0
7	Avista	NF	175	175		1,669		1,669
8	Bonneville Power Administration	NF	109,200	109,200		308,695		308,695
9	Seattle City Light	NF	534	534		934		934
	TOTAL		149,049	149,049	399,426	311,298	934,215	1,644,939

Deprec, Depl and Amort of Elec Plant (403,403.1,404,and 405) (except Amortization of Acquisition Adjustments)
Report the year to date amounts of depreciation expense, asset retirement cost depreciation, depletion and amortization, except amortization of acquisition adjustments for the accounts indicated and classified according to the plant functional groups described.
Line No.	FunctionalClassificationAxis Functional Classification (a)	DepreciationExpenseExcludingAmortizationOfAcquisitionAdjustments Depreciation Expense (Account 403) (b)	DepreciationExpenseForAssetRetirementCostsExcludingAmortizationgOfAcquisitionAdjustments Depreciation Expense for Asset Retirement Costs (Account 403.1) (c)	AmortizationOfLimitedTermPlantOrProperty Amortization of Limited Term Electric Plant (Account 404) (d)	AmortizationOfOtherElectricPlant Amortization of Other Electric Plant (Acc 405) (e)	DepreciationAndAmortization Total (f)
1	Intangible Plant			763,306		763,306
2	Steam Production Plant	1,108,681				1,108,681
3	Nuclear Production Plant
4	Hydraulic Production Plant-Conventional	2,937,227				2,937,227
5	Hydraulic Production Plant-Pumped Storage					0
6	Other Production Plant	2,824,817		80		2,824,897
7	Transmission Plant	7,056,686		145,035		7,201,721
8	Distribution Plant	14,797,700		8,585		14,806,285
9	General Plant	1,592,710				1,592,710
10	Common Plant-Electric	976,692		1,277,527		2,254,219
11	TOTAL	31,294,513	0	2,194,533	0	33,489,046

Monthly Peak Loads and Energy Output
Report the monthly peak load and energy output. If the respondent has two or more power which are not physically integrated, furnish the required information for each non- integrated system. Report in column (b) by month the system’s output in Megawatt hours for each month. Report in column (c) by month the non-requirements sales for resale. Include in the monthly amounts any energy losses associated with the sales. Report in column (d) by month the system’s monthly maximum megawatt load (60 minute integration) associated with the system. Report in column (e) and (f) the specified information for each monthly peak load reported in column (d).
Line No.	MonthAxis Month (a)	Total Monthly Energy (MWH) (b)	Monthly Non-Requirements Sales for Resale & Associated Losses (c)	MonthlyPeakLoad Monthly Peak Megawatts (See Instr. 4) (d)	DayOfMonthlyPeak Monthly Peak Day of Month (e)	HourOfMonthlyPeak Monthly Peak Hour (f)
	NAME OF SYSTEM: Montana Operations
1	January	731,487	124,874	2,758	13	18
2	February	741,662	90,781	2,407	15	19
3	March	660,719	101,743	2,235	21	21
4	Total for Quarter 1
5	April
6	May
7	June
8	Total for Quarter 2
9	July
10	August
11	September
12	Total for Quarter 3
41	Total	2,133,868	317,398	7,400




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

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

TRANSMISSION OF ELECTRICITY BY ISO/RTOs
Report in Column (a) the Transmission Owner receiving revenue for the transmission of electricity by the ISO/RTO. Use a separate line of data for each distinct type of transmission service involving the entities listed in Column (a). In Column (b) enter a Statistical Classification code based on the original contractual terms and conditions of the service as follows: FNO – Firm Network Service for Others, FNS – Firm Network Transmission Service for Self, LFP – Long-Term Firm Point-to-Point Transmission Service, OLF – Other Long-Term Firm Transmission Service, SFP – Short-Term Firm Point-to-Point Transmission Reservation, NF – Non-Firm Transmission Service, OS – Other Transmission Service and AD- Out-of-Period Adjustments. Use this code for any accounting adjustments or “true-ups” for service provided in prior reporting periods. Provide an explanation in a footnote for each adjustment. See General Instruction for definitions of codes. In column (c) identify the FERC Rate Schedule or tariff Number, on separate lines, list all FERC rate schedules or contract designations under which service, as identified in column (b) was provided. In column (d) report the revenue amounts as shown on bills or vouchers. Report in column (e) the total revenues distributed to the entity listed in column (a).
Line No.	Payment Received by (Transmission Owner Name) (a)	Statistical Classification (b)	FERC Rate Schedule or Tariff Number (c)	Total Revenue by Rate Schedule or Tariff (d)	Total Revenue (e)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
40	TOTAL

AMOUNTS INCLUDED IN ISO/RTO SETTLEMENT STATEMENTS
The respondent shall report below the details called for concerning amounts it recorded in Account 555, Purchase Power, and Account 447, Sales for Resale, for items shown on ISO/RTO Settlement Statements. Transactions should be separately netted for each ISO/RTO administered energy market for purposes of determining whether an entity is a net seller or purchaser in a given hour. Net megawatt hours are to be used as the basis for determining whether a net purchase or sale has occurred. In each monthly reporting period, the hourly sale and purchase net amounts are to be aggregated and separately reported in Account 447, Sales for Resale, or Account 555, Purchased Power, respectively.
Line No.	Description of Item(s) (a)	Balance at End of Quarter 1 (b)	Balance at End of Quarter 2 (c)	Balance at End of Quarter 3 (d)	Balance at End of Year (e)
1	Energy
2	Net Purchases (Account 555)
2.1	Net Purchases (Account 555.1)
3	Net Sales (Account 447)
4	Transmission Rights
5	Ancillary Services
6	Other Items (list separately)
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46	TOTAL

MONTHLY TRANSMISSION SYSTEM PEAK LOAD
Report the monthly peak load on the respondent's transmission system. If the respondent has two or more power systems which are not physically integrated, furnish the required information for each non-integrated system. Report on Column (b) by month the transmission system's peak load. Report on Columns (c ) and (d) the specified information for each monthly transmission - system peak load reported on Column (b). Report on Columns (e) through (j) by month the system' monthly maximum megawatt load by statistical classifications. See General Instruction for the definition of each statistical classification.
Line No.	Month (a)	Monthly Peak MW - Total (b)	Day of Monthly Peak (c)	Hour of Monthly Peak (d)	Firm Network Service for Self (e)	Firm Network Service for Others (f)	Long-Term Firm Point-to-point Reservations (g)	Other Long-Term Firm Service (h)	Short-Term Firm Point-to-point Reservation (i)	Other Service (j)
	NAME OF SYSTEM: Montana Operations
1	January	2,183	13	18	1,036	774	575	0	2,209	0
2	February	1,832	15	19	1,022	713	575	0	475	0
3	March	1,731	21	21	1,009	653	575	0	1,148	0
4	Total for Quarter 1
5	April
6	May
7	June
8	Total for Quarter 2
9	July
10	August
11	September
12	Total for Quarter 3
13	October
14	November
15	December
16	Total for Quarter 4
17	Total				3,067	2,140	1,725	0	3,832	0

Monthly ISO/RTO Transmission System Peak Load
Report the monthly peak load on the respondent's transmission system. If the Respondent has two or more power systems which are not physically integrated, furnish the required information for each non-integrated system. Report on Column (b) by month the transmission system's peak load. Report on Column (c) and (d) the specified information for each monthly transmission - system peak load reported on Column (b). Report on Columns (e) through (i) by month the system’s transmission usage by classification. Amounts reported as Through and Out Service in Column (g) are to be excluded from those amounts reported in Columns (e) and (f). Amounts reported in Column (j) for Total Usage is the sum of Columns (h) and (i).
Line No.	Month (a)	Monthly Peak MW - Total (b)	Day of Monthly Peak (c)	Hour of Monthly Peak (d)	Import into ISO/RTO (e)	Exports from ISO/RTO (f)	Through and Out Service (g)	Network Service Usage (h)	Point-to-Point Service Usage (i)	Total Usage (j)
	NAME OF SYSTEM: Enter System
1	January
2	February
3	March
4	Total for Quarter 1
5	April
6	May
7	June
8	Total for Quarter 2
9	July
10	August
11	September
12	Total for Quarter 3
13	October
14	November
15	December
16	Total for Quarter 4
17	Total Year to Date/Year

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

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

GENERAL INFORMATION

Purpose

Who Must Submit

What and Where to Submit

When to Submit

Where to Send Comments on Public Reporting Burden.

GENERAL INSTRUCTIONS

EXCERPTS FROM THE LAW

GENERAL PENALTIES

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