BOISE, Idaho — Idaho Power has filed the first of two annual cost adjustments with the Idaho Public Utilities Commission (IPUC). This year’s Fixed Cost Adjustment (FCA) requests an increase of $10.6 million, or 1.44%, for residential and small general service customers in Idaho.

If the FCA proposal is approved as filed, a typical residential customer using 950 kilowatt-hours per month would see about a $1.69 increase to their monthly bill beginning June 1. However, the final impact to customer bills won’t be known until a second annual adjustment, the Power Cost Adjustment (PCA), is filed in April.

The FCA adjusts prices up or down based on changes in energy use per customer during the prior year. It is a true-up mechanism that separates energy sales from revenue to remove financial disincentives for Idaho Power to invest in demand-side management, which can contribute to use per customer declining.

In 2023, Idaho Power’s energy efficiency programs saved 139,683 megawatt hours — enough energy to power about 12,200 average-sized homes for a year. Idaho Power values demand-side management, energy efficiency and education programs, and the FCA allows the company to provide these programs to residential and small general service customers without negative financial impacts.

The FCA allows Idaho Power to recover an IPUC-authorized level of fixed costs — costs associated with things like generation plants, power lines, and substations — per customer. If the company collects less than the authorized fixed-cost amount, it can collect the difference through a surcharge. If the company collects more than the authorized amount, it refunds the difference to customers through a credit.

Opportunities for Public Review
Idaho Power’s filing 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, on idahopower.com, or at the IPUC website, puc.idaho.gov. Customers may also subscribe to the IPUC’s RSS feed to receive periodic updates via email about the case. Written comments (Case No. IPC-E-24-10) regarding Idaho Power’s application 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