Idaho Power Seeks 13.09% Rate Increase

By Greg Peters • Sunday, June 01 16:16 • Permanent Link

Idaho Power Files General Rate Case

Idaho Power has filed a general rate case with the Idaho Public Utilities Commission (IPUC) requesting an overall rate increase of $199.1 million, or 13.09%. The requested increase includes specific allocations for different purposes, including energy production and storage resources, grid investments, wildfire resilience, labor, and other investments.

The breakdown of the requested increase is as follows: $73 million for energy production and storage resources $53 million for grid investments $25 million for wildfire resilience $20 million for labor * $28 million for other investments

If approved, the average Idaho residential customer using 900 kilowatt-hours per month would see a monthly bill increase of about $21.66. The proposed impacts for all Idaho customers are as follows: Residential: 17.35% increase Small General Service: 17.31% increase Large General Service 1: 7.26% increase Large Power 2: 8.22% increase * Irrigation: 17.32% increase

As part of the rate case, Idaho Power is proposing to increase the residential service charge from $15 to $25. This change aims to collect a larger portion of customers' monthly bills through the fixed charge rather than the variable energy charge, with the intention of making fixed cost collection more equitable among residential customers.

The rate review will be conducted by the IPUC over the next several months, including opportunities for public input. Customers can access copies of the application for public review at the IPUC offices, Idaho Power offices, on idahopower.com, or at the IPUC website. They may also submit written comments regarding Idaho Power’s application (Case No. IPC-E-25-16) to the IPUC.

Idaho Power, serving a 24,000-square-mile area in Idaho and Oregon, has a long history of providing reliable, affordable, clean energy. With 17 low-cost hydroelectric projects at the core of its energy mix, the company's 2,100 employees serve more than 650,000 customers with a culture of safety first, integrity always, and respect for all. The market has reacted to these announcements by moving the company's shares 0.65% to a price of $118.95. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.