Print

October 31, 2012

Recovery of Investments Requested

BOISE, Idaho -- On Oct. 22, the Idaho Public Utilities Commission (IPUC) issued an order stating that the investments Idaho Power made in 2011 for Custom Efficiency projects were prudently incurred. On Oct. 31, Idaho Power filed a proposal to recover those amounts in rates. The incremental annual revenue requested in this filing is $2,949,340, a 0.32% increase.

We are requesting an effective date of Dec. 1, 2012 in this filing. However, we anticipate the IPUC will evaluate our request over a longer period of time such that any resulting rate change will not become effective until June 1, 2013, to coincide with other annual rate changes associated with the Power Cost Adjustment (PCA) and the Fixed Cost Adjustment (FCA). If our request is approved, this charge will be included as part of the “Annual Adjustment Mechanism” line item on customer bills, which currently contains charges associated with the PCA and FCA.

The chart below illustrates the overall percentage change for each major customer class as a result of this filing. The varying percentages of overall increase for each customer class reflect the differences in the price each class pays for electricity.

REVENUE IMPACT BY CLASS
Percentage Change from Current Billed Revenue

Residential Small General Service Large General Service Large Power Irrigation Overall Change
0.25% 0.20% 0.36% 0.49% 0.32% 0.32%

The typical Idaho residential customer using 1,050 kilowatt-hours (kWh) of energy per month will see an increase of approximately $0.23 on monthly summer and non-summer bills.

Opportunities for Public Review
Idaho Power’s filing is a proposal that is subject to public review and approval by the IPUC. Copies of the application are available to the public at the IPUC offices (472 W. Washington St., Boise), Idaho Power offices or on Idaho Power’s website, www.idahopower.com or the IPUC website, www.puc.idaho.gov. You can view additional, related materials, including frequently asked questions and a news release on the filing at www.idahopower.com/rates.

About Idaho Power Company:
Idaho Power began operations in 1916. Today, the electric utility employs approximately 2,000 people who serve more than 500,000 customers throughout a 24,000-square-mile area in southern Idaho and eastern Oregon. With 17 low-cost hydroelectric projects as the core of its generation portfolio, Idaho Power’s residential, business and agricultural customers pay among the nation’s lowest rates for electricity. IDACORP, Inc. (NYSE: IDA) is the investor-owned utility’s parent company based in Boise, Idaho. To learn more, visit www.idahopower.com or www.idacorpinc.com.

Contact: Stephanie McCurdy
Communication Specialist
Idaho Power
208-388-6973 and SMcCurdy@idahopower.com
1-800-458-1443 media line