BOISE — Idaho Power has filed a case with the Idaho Public Utilities Commission (IPUC) requesting a new customer class for commercial and industrial cryptocurrency mining operations, or any other Speculative High-Density Load (HDL) customers less than 20 megawatts (MW) in size. These customers’ potential for large-load energy demand that may abruptly end when the commodity price of the cryptocurrency to be mined is no longer profitable could create financial risk for Idaho Power and its customers. To date, Idaho Power has received interest from customers proposing approximately 2,000 MW of potential cryptocurrency mining operations.
The proposed rate schedule would require Speculative HDL customers to be interruptible between June 15 and September 15, reducing the risk of Idaho Power needing to build new generation resources during the highest-demand summer months. Additional system risks would be addressed through Speculative HDL customers paying a marginal rate for energy, which more closely aligns with Idaho Power’s energy costs to purchase or generate additional energy.
Idaho Power is not requesting changes to other rate classes. Under this proposal, current cryptocurrency mining customers under 20 MW would transition to this new rate class. Residential customers with “hobby” cryptocurrency mining operations would not be impacted by this filing.
To follow Idaho Power’s case with the IPUC, visit the IPUC website and reference case IPC-E-21-37.
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 2,000 employees proudly serve more than 590,000 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.