Annual Fixed Cost Adjustment Filed

BOISE, Idaho — Today Idaho Power filed its annual Fixed Cost Adjustment (FCA) with the Idaho Public Utilities Commission (IPUC). This year’s FCA filing requests an increase of about $6.96 million for Residential and Small General Service customers. If the proposal is approved as filed, the price change for an average Idaho Power residential customer in Idaho using 1,000 kilowatt-hours of energy per month would be an increase of about $1.31 per month beginning June 1, 2017.

FCA Price Change by Class:
Percentage Change from Current Billed Rates
Residential Small General Service Overall Change*
Fixed Cost Adjustment (FCA) 1.29% 1.33% 1.29%

*The overall percentage change for Residential and Small General Service customers

The FCA is a true-up mechanism that separates energy sales from revenue to eliminate financial disincentives for Idaho Power to invest in demand-side management. The FCA annually adjusts prices up or down based on changes in energy use per customer during the previous year.

Because Idaho Power encourages the wise use of electricity through our energy efficiency programs and efforts, energy use per customer may decline. But even if customer energy use goes down, we still need to recover our fixed costs. Fixed costs include those associated with long lasting infrastructure—things like generation plants, power lines, substations and other equipment—as well as certain administrative costs.

The FCA allows Idaho Power to recover a Commission-authorized level of fixed costs per customer. If, because of reduced energy use per customer during the prior year, we collect less than the authorized fixed-cost amount, we’re allowed to collect the difference through a surcharge. If we collect more than the authorized amount, we’ll refund the difference to customers through a credit.

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, 83702), Idaho Power offices or on Idaho Power’s website, idahopower.com or the IPUC website, 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 application may be filed with the IPUC. You can view additional related materials about the filing at idahopower.com/rates.

About Idaho Power:
Idaho Power, headquartered in Boise, Idaho, and locally operated since 1916, is an electric utility that employs more than 2,000 people who serve approximately 535,000 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 diverse generation portfolio, Idaho Power’s residential, business and agricultural customers pay among the nation’s lowest rates for electricity. 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.

Contact: Stephanie McCurdy
Communication Specialist
Idaho Power
208-388-6973
SMcCurdy@idahopower.com