IDACORP Announces 103% Increase in 5-Year Investments

By Hao Liu • Monday, December 01 12:04 • Permanent Link

Idaho-based energy company IDACORP has released its 5-year capital expenditures forecast, showing a significant increase in planned investments compared to the previous 5 years. The forecast, as of February 2025, outlines the estimated capital expenditures from 2025 to 2029, with a total projected expenditure of approximately $1,127 million per year on average. This represents a substantial 103% increase from the actual average of around $554 million per year over the past 5 years.

The breakdown of the forecasted capital expenditures reveals a diverse allocation across various areas. New capacity and energy resources are expected to account for a substantial portion of the investment, ranging from $0 million to $463 million. Additionally, distribution, high voltage transmission, transmission, hydro, general plant, and thermal projects are also included in the forecast, with investment ranges specified for each category.

However, it's worth noting that the forecast has already undergone changes since its initial release. In September 2025, IDACORP terminated a 300 MW wind project due to permitting delays and uncertainty around federal land use policies. This led to the removal of the $300 million wind project from the forecast. In its place, the company has added the proposed 167 MW Bennett gas plant, along with a mix of other capital investments.

Furthermore, IDACORP now expects the capital expenditures for the period from 2026 to 2029 to be approximately 20% higher than the initial estimates provided in February 2025. This upward revision indicates the company's evolving investment plans and commitment to expanding and enhancing its energy infrastructure.

Looking ahead, IDACORP intends to publish an updated capital expenditure forecast in February 2026, covering the period from 2026 to 2030, reflecting the company's ongoing strategic planning and long-term investment outlook. The market has reacted to these announcements by moving the company's shares 0.73% to a price of $131.78. For more information, read the company's full 8-K submission 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.