BOISE, Idaho — Idaho Power has filed the final piece of its annual spring cost adjustments with the Idaho Public Utilities Commission (IPUC). Customers in every rate class will see a net price decrease.
A typical Idaho residential customer will see an overall monthly decrease of $0.55 — the combined impact of the following two filings:
- The Power Cost Adjustment (PCA), filed today, calls for a decrease of $35.7 million, or 2.31%, for Idaho customers. It is a cost-recovery tool that passes on both the benefits and costs of supplying energy to Idaho Power customers. This year’s PCA requests a monthly bill decrease of $2.24 for the average Idaho residential customer using 950 kilowatt-hours (kWh) per month.
- The Fixed Cost Adjustment (FCA), filed on March 15, requested an increase of $10.6 million. It is applicable only to residential and small commercial customers and adjusts prices based on changes in energy use per customer during the previous year. For the average Idaho residential customer, this year’s FCA requested a monthly bill increase of $1.69.
If approved as filed, the FCA and PCA combined rate decrease will take effect June 1.
The impact of both filings for all Idaho customers is shown in the table below. The actual percentage will depend on a customer’s classification and the rate they pay.
| 2024 RATE FILINGS Percentage Change from Current Billed Revenue |
|||||||
| Filing | Revenue Change (millions) | Overall Percentage Impact | Residential | Small General Service | Large General Service 1 | Large Power 2 | Irrigation |
| PCA | -$35.7 | -2.31% | -1.91% | -1.57% | -2.57% | -3.12% | -2.33% |
| FCA | $10.6 | 0.68% | 1.44% | 1.39% | N/A | N/A | N/A |
| Combined Impact3 | -$25.1 | -1.63% | -0.47% | -0.17% | -2.57% | -3.12% | -2.33% |
1 Includes lighting schedules; 2 Includes special contracts; 3 Totals may not sum due to rounding
The PCA has two main components: a balancing account for power costs incurred the previous year and an estimate of what energy will cost in the coming year. The balancing account brings last year’s anticipated costs in balance with costs actually incurred the previous April through March. The estimate reflects Idaho Power’s anticipated fuel costs, purchased power costs, and customer benefits from sales of surplus energy for the coming April through March.
The decrease in this year’s PCA is primarily due to an increase in forecasted hydro generation as well as a decrease to the balancing account. The balancing account decrease is attributed primarily to the increase in actual sales as compared to the level of sales used to set base level power supply costs, as well as increased renewable energy credit sales from energy generated at renewable facilities.
Neither Idaho Power nor its shareholders receive any financial return from the PCA — money collected is used to recover costs or credit benefits associated with annual fluctuations in power costs.
Opportunities for Public Review
Idaho Power’s proposal is subject to public review and approval by the IPUC. Copies of the application are available to the public at the IPUC offices (11331 W. Chinden Blvd. Building 8, Suite 201-A, Boise, ID 83714), Idaho Power offices, or at idahopower.com or puc.idaho.gov. Customers also may subscribe to the IPUC’s RSS feed to receive periodic updates via email about the case. Written comments regarding Idaho Power’s proposal (Case No. IPC-E-24-17) may be filed with the IPUC.
About Idaho Power
Idaho Power, headquartered in vibrant and fast-growing Boise, Idaho, has been a locally operated energy company since 1916. Today, it serves a 24,000-square-mile area in Idaho and Oregon. The company’s goal to provide 100% clean energy by 2045 builds on its long history as a clean-energy leader that provides reliable service at affordable prices. With 17 low-cost hydroelectric projects at the core of its diverse energy mix, Idaho Power’s residential, business and agricultural customers pay among the nation’s lowest prices for electricity. Its 2,100 employees proudly serve more than 630,000 customers with a culture of safety first, integrity always and respect for all.
IDACORP Inc. (NYSE: IDA), Idaho Power’s independent publicly traded parent company, is also headquartered in Boise, Idaho. To learn more, visit idahopower.com or idacorpinc.com.
Jordan Rodriguez
Communications Specialist
jrodriguez@idahopower.com
208-388-2460