20250530Direct Jeppsen.pdf

RECEIVED
May 30, 2025
IDAHO PUBLIC
UTILITIES COMMISSION
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
IN THE MATTER OF THE APPLICATION )
OF IDAHO POWER COMPANY FOR )
AUTHORITY TO INCREASE ITS RATES ) CASE NO. IPC-E-25-16
AND CHARGES FOR ELECTRIC SERVICE )
IN THE STATE OF IDAHO AND )
AUTHORITY TO IMPLEMENT CERTAIN )
MEASURES TO MITIGATE THE IMPACT )
OF REGULATORY LAG. )
IDAHO POWER COMPANY
DIRECT TESTIMONY
OF
PAULA JEPPSEN

1 Q. Please state your name, business address, and
2 present occupation.
3 A. My name is Paula Jeppsen, and my business
4 address is 1221 West Idaho Street, Boise, Idaho. I am
5 employed by Idaho Power Company ("Idaho Power" or
6 "Company") as the Controller, Business Unit Finance and
7 Strategy within the Finance department.
8 Q. Please describe your educational background.
9 A. I graduated in 1999 from Boise State
10 University, receiving a Bachelor of Arts degree in Finance.
11 In 2010, I earned a Master of Business Administration
12 degree from Colorado State University. In 2021, I attended
13 the Energy Executive Course through the University of
14 Idaho .
15 Q. Please describe your work experience with
16 Idaho Power.
17 A. In 2007, I was hired as a Financial Analyst in
18 the Finance department. In 2010, I was promoted to Finance
19 Team Leader. My primary responsibilities included leading a
20 team of financial analysts, supporting and facilitating
21 budgeting, advising on proper accounting treatment, and
22 preparing and reviewing financial analyses . In 2016, I was
23 promoted to Business Unit Finance Director; in 2019, my
24 duties were broadened, and my title was changed to
25 Financial Accounting and Reporting Director. In these
JEPPSEN, DI 1
Idaho Power Company

1 roles, I provided oversight and direction to the Business
2 Unit Finance Support teams, Property Accounting department,
3 Financial Accounting and Reporting department, and
4 Financial Planning and Analysis department. In 2022 my role
5 changed slightly, and my title changed to Forecasting and
6 Planning Director. In this role I continued to be
7 responsible for overseeing the Business Unit Finance
8 Support teams and Financial Planning and Analysis
9 department . I also added oversight of the Load Research and
10 Forecasting team when I moved into this role . In 2024 my
11 role changed again, and my title changed to Controller,
12 Business Unit Finance and Strategy. In this role I continue
13 to be responsible for overseeing the Business Unit Finance
14 Support teams and the Load Research and Forecasting team.
15 Q. What is the purpose of your testimony in this
16 proceeding?
17 A. First, I will present the Company' s historical
18 actual audited financial information for the 12-month
19 period ended December 31, 2024 . Second, my testimony will
20 discuss the quantification of certain adjustments to
21 operating expenses and rate base consistent with previous
22 Idaho Public Utilities Commission ("IPUC" or "Commission")
23 directives regarding regulatory treatment that result in an
24 adjusted historical actual 12-month period ended December
25 2024 ("2024 Base") . Finally, I will discuss the
JEPPSEN, DI 2
Idaho Power Company

1 quantification of certain adjustments to operating expenses
2 and rate base associated with the Boardman Power Plant
3 ("Boardman") , the Jim Bridger Power Plant ("Bridger") , the
4 North Valmy Generating Station ("Valmy) , and Idaho Power' s
5 Wildfire Mitigation Plan ("WMP") .
6 Q. Please describe the manner in which the 2024
7 financial data is presented.
8 A. Actual 2024 financial data is presented using
9 the account names from the Commission-approved Uniform
10 System of Accounts ("USA") . This data has been fully
11 audited and was filed with the U. S . Securities and Exchange
12 Commission and the Federal Energy Regulatory Commission
13 ("FERC") in the Company' s Form 10-K and FERC Form 1,
14 respectively. The components of the 2024 financial data
15 include the following items : (1) other operating revenues;
16 (2) other revenues and expenses; (3) operation and
17 maintenance ("0&M") expenses; (4) property insurance
18 expenses; (5) regulatory commission expenses; (6)
19 depreciation and amortization expense; (7) electric
20 plant/regulatory assets - amortizations, adjustments,
21 gains, and losses; (8) regulatory debits and credits; (9)
22 taxes other than income taxes; (10) Idaho Energy Resources
23 Company' s ("IERCo") statement of income and rate base
24 components; (11) allowance for funds used during
25 construction ("AFUDC") related to the Hells Canyon
JEPPSEN, DI 3
Idaho Power Company

1 relicensing; (12) electric plant in service and related
2 items; (13) materials and supplies; (14) other deferred
3 programs; (15) Plant Held for Future Use; (16) accumulated
4 deferred income taxes; (17) customer advances for
5 construction; and (18) certain deductions from 0&M
6 expenses .
7 Q. Please describe the rationale for quantifying
8 adjustments to the 2024 actual financial data ("2024
9 Actuals") .
10 A. Several of the adjustments to 2024 Actuals
11 that I have quantified are in conformance with prior
12 Commission orders and thus have become, in the opinion of
13 the Company, standard regulatory adjustments . The
14 adjustments that are not the result of prior orders are the
15 adjustments to Plant Held for Future Use, adjustments to
16 remove Boardman coal-related plant, Bridger 0&M expenses
17 and coal-related plant, Valmy coal-related plant, Oregon
18 regulatory expenses, intervenor funding and solar program
19 expenses, an adjustment to include WMP-related expenses
20 that were deferred in 2024, and a few other minor
21 adjustments to 0&M expenses . I will discuss the rationale
22 for these adjustments later in my testimony.
23 The Company has made adjustments to remove expenses
24 as previously directed by the Commission. These adjustments
25 include the removal of certain general advertising
JEPPSEN, DI 4
Idaho Power Company

1 expenses, specific memberships and contributions, certain
2 management expenses, and other exclusions that, although
3 justified for business purposes, may be viewed as more
4 appropriately funded by shareholders than customers and
5 were therefore removed from the Company' s request.
6 The following have also been removed from 2024
7 Actuals : (1) all 2024 short-term incentive compensation; (2)
8 the financial impacts of both the Idaho and Oregon Energy
9 Efficiency Rider revenues and expenses; (3) Bridger 0&M
10 expenses; (4) Boardman, Bridger and Valmy coal-related
11 plant, depreciation expense and accumulated depreciation;
12 and, finally, (5) certain Oregon regulatory expenses,
13 intervenor funding amounts, and solar program expenses .
14 Q. How has the Company treated prepayments in
15 this case?
16 A. Prepayments have been removed in their
17 entirety, consistent with previous Commission orders . This
18 adjustment is reflected in Company Witness Ms . Kelley Noe' s
19 Exhibit No . 28 .
20 Q. Please describe the Company' s proposed
21 adjustment to Plant Held for Future Use.
22 A. The Company is proposing Plant Held for Future
23 Use as of December 31, 2024, be included in rate base but
24 adjusted to remove structures and specific properties for
25 which the future use is uncertain, and property that is
JEPPSEN, DI 5
Idaho Power Company

1 pending a Request for Proposal ("RFP") or Certificate of
2 Public Convenience and Necessity ("CPCN") . The rationale
3 for inclusion of Plant Held for Future Use and the
4 adjustments will be discussed in more detail later in my
5 testimony.
6 Q. Are you sponsoring exhibits that contain the
7 2024 Actuals and 2024 adjustments by the components you
8 have just identified?
9 A. Yes . I am sponsoring Exhibit Nos . 18 and 19
10 which detail 2024 Actuals and the 2024 adjustments by
11 component categories . The additional adjustments to get
12 from the 2024 Base to the 2025 Test Year, which are also
13 contained in my exhibits, are addressed in the Direct
14 Testimony of Company Witness Mr. Matthew T. Larkin.
15 Q. Please describe Exhibit No. 18 .
16 A. Exhibit No. 18 is a compilation of the
17 Company' s supporting schedules for the adjusted historical
18 actual data for the 12-month period ended December 31,
19 2024 .
20 Q. Please describe pages 1 through 14 of Exhibit
21 No . 18 .
22 A. Page 1 of Exhibit No. 18 reflects the details
23 for Other Operating Revenues, Accounts 451, 454, and 456 .
24 Page 2 reflects the details of Other Revenues and Expenses,
25 Accounts 415 and 416 . Pages 3 through 8 reflect the 0&M
JEPPSEN, DI 6
Idaho Power Company

1 expenses by USA account . Page 9 reflects the details of
2 Property Insurance Expense, Account 924 . Page 10 reflects
3 the details of Regulatory Commission Expenses, Account 928 .
4 Page 11 includes Depreciation and Amortization Expense,
5 Accounts 403 and 404 . Page 12, Electric Plant/Regulatory
6 Assets - Amortizations, Adjustments, Gains, and Losses,
7 Account 406, presents the Asset Exchange acquisition
8 adjustment amortization. Page 13 reflects Regulatory Debits
9 and Credits, Accounts 407 . 3 and 407 . 4, respectively. Page
10 14 shows the detail of Taxes Other Than Income Taxes .
11 Q. Please explain the adjustment you have made on
12 page 1 of Exhibit No . 18, Other Operating Revenues, to
13 arrive at the 2024 Base .
14 A. The adjustment on line 28, column 4 to the
15 2024 Actuals removes the impact of the Energy Efficiency
16 Rider revenues as directed in Commission Order No. 30189 .
17 Q. Please describe the adjustments quantified on
18 Pages 3 through 8 of Exhibit No. 18, 0&M expenses .
19 A. Pages 3 through 8 include adjustments related
20 to Bridger, Oregon regulatory expenses, intervenor funding
21 amounts and solar program expenses, WMP-related expenses,
22 and a couple of other minor adjustments to 0&M expenses . I
23 will discuss each of these adjustments individually. Pages
24 3 through 8 also include the standard regulatory
25 adjustments that I will discuss in more detail later in my
JEPPSEN, DI 7
Idaho Power Company

1 testimony.
2 Q. Please describe the Company-proposed
3 adjustment to 0&M expenses related to Bridger.
4 A. On June 1, 2022, the Commission authorized the
5 Company to establish a balancing account, with the
6 necessary regulatory accounting, to track the incremental
7 costs and benefits associated with the Company' s cessation
8 of coal-fired operations at Bridger as part of the Bridger
9 coal-related levelized revenue requirement mechanism. ' In
10 this case the Company proposes to include as part of the
11 Bridger coal-related levelized revenue requirement, all
12 non-fuel 0&M expenses .
13 The Company' s update to the Bridger related
14 levelized revenue requirement reflects cost recovery at
15 current levels, with the exception of collection related to
16 previously deferred non-fuel 0&M expenses . It also allows
17 for the presentation of Bridger non-fuel 0&M expenses to
18 align with the presentation of Bridger coal-related plant
19 investments in the Bridger levelized revenue requirement.
20 To avoid double counting Bridger non-fuel 0&M expenses, an
21 adjustment was made to remove actual 2024 Bridger 0&M
22 ("Bridger 0&M Adjustment") . The Bridger coal-related
' In the Matter of Idaho Power Company's Application for Authority to
Increase Its Rates for Electric Service to Recover Costs Associated
with the Jim Bridger Power Plant, Case No. IPC-E-21-17 Order No.
35423 (June 1, 2022) .
JEPPSEN, DI 8
Idaho Power Company

1 levelized revenue requirement mechanism will be discussed
2 more fully in Mr. Larkin' s testimony.
3 Q. How was the Bridger 0&M Adjustment calculated?
4 A. The Bridger O&M Adjustment, a reduction of
5 $14, 183, 825, consists of the removal of 2024 actual 0&M
6 totaling $28, 566, 863, partially offset by $14, 383, 038
7 related to a negative entry recorded in 2024 to Account
8 557 . 007 . The 2024 reduction to actual 0&M was calculated
9 using the sum of non-fuel 0&M charged to Bridger-related
10 accounts in 2024 including 500 . 001, 502 . 001, 506 . 001,
11 507 . 001, 510 . 001, 512 . 001, 513 . 001, 514 . 001, and 557 . 007 .
12 Table 1 below presents the amounts charged to each account:
13
14
15
16
17
18
19
20
21
22
23
JEPPSEN, DI 9
Idaho Power Company

1 TABLE 1
2 2024 Bridger 0&M Accounts
Table 1 2024 Bridger O&M O&M $s
Accounts
500 . 001 $ 283, 105
502 . 001 4, 095, 143
506 . 001 6, 754, 326
507 . 001 223, 832
510 . 001 52, 861
512 . 001 6, 614, 610
513 . 001 3, 237, 241
514 . 001 7, 305, 745
Subtotal 28, 566, 863
557 . 007 (14, 383, 038)
Total Bridger 0&M Adjustment $ 14, 183, 825
3
4 The subtotal 2024 Bridger 0&M expense results in a
5 reduction of $28, 566, 863 . These adjustments are included on
6 page 3, lines 1 through 14, column 5 . The negative amount
7 of $14, 383, 038 was added back to zero out the 557 . 007
8 account . The IPUC authorized the recovery of and on
9 December 31, 2020, net plant balance of Bridger, (Order No .
10 35423) , which resulted in certain authorized revenues and
11 the acceleration of depreciation. Subsequently, the IPUC
12 authorized the deferral of Bridger non-fuel gas-related 0&M
13 expenses in Order No. 36330 . To comply with Generally
14 Accepted Accounting Principles ("GAAP") , adjustments were
15 needed to defer the recognition of certain revenues and to
16 defer additional O&M expenses and related carrying charges
JEPPSEN, DI 10
Idaho Power Company

1 for accounting purposes to align with the revenue
2 recognition required by GAAP. These GAAP adjustments are
3 related to timing of recognition and do not affect the
4 total amounts to be recovered or earned. Also, as the GAAP
5 revenue deferral is matched by the expense deferral, they
6 do not affect the total balancing account balance. This
7 adjustment is on page 4, line 12, column 5 .
8 Q. Please describe the adjustment related to the
9 WMP-related expenses .
10 A. In the Settlement Stipulation reached in Idaho
11 Power' s 2023 General Rate Case (IPC-E-23-11) , Parties
12 agreed that the Company would continue to defer incremental
13 vegetation management costs above the 2022 actuals amount
14 of $24, 848, 875 and incremental insurance costs above the
15 2022 actuals amount of $14, 489, 412 through the earlier of
16 Idaho Power' s next general rate case or 2025 (Settlement
17 Stipulation page 8) . The Commission approved the Settlement
18 Stipulation in Order No. 36042 . In 2024, Idaho Power
19 deferred $15, 698, 682 of Idaho jurisdictional WMP-related
20 expenses . In this case, the Company proposes to continue to
21 defer certain incremental WMP-related expenses . This
22 request is discussed more fully in the Direct Testimony of
23 Company Witness Mr. Timothy E . Tatum.
24 To set a new 2024 base year that will be used to
25 track incremental WMP-related expenses going forward, an
JEPPSEN, DI 11
Idaho Power Company

1 adjustment was made to add the amounts deferred in 2024 to
2 0&M, thus resetting 2024 actual WMP-related 0&M to what it
3 would have been absent the deferrals ("WMP 0&M
4 Adjustment") .
5 Q. How was the WMP 0&M Adjustment calculated?
6 A. The WMP O&M Adjustment, an increase of
7 $15, 632, 365, was calculated by identifying the amounts by
8 0&M account that were deferred in 2024, with certain
9 adjustments for labor, depreciation, and amortization
10 expense to avoid double counting of test year amounts .
11 Table 2 below presents the amounts adjusted to each account
12 in detail :
13
14
15
16
17
18
19
20
21
22
23
24
25
JEPPSEN, DI 12
Idaho Power Company

1 TABLE 2
2 2024 WMP 0&M Accounts
Table 2 2024 Net
WMP O&M Adjustment
Accounts 2024 Deferral Adjustments to 2024 O&M
571 . 000 $ 3, 062, 063 $ (14, 983) 1 . ) $ 3, 047, 080
583 . 000 19, 922 (26) 1 . ) 19, 896
584 . 000 (4, 307) (4, 307)
593 . 000 7, 159, 942 (9, 241) 1 . ) 7, 150, 702
594 . 000 (7, 890) (7, 890)
596 . 000 5 (5) 1 . ) (0)
924 . 000 1, 228, 229 1, 228, 229
925 . 000 4, 198, 655 4, 198, 655
403 . 290 37, 611 (37, 611) 2 . ) (0)
404 . 290 4, 450 (4, 450) 2 . ) (0)
$15, 698, 682* $ (66, 317) * $15, 632, 365*
*Totals may not sum due to rounding.
1.) Remove 2024 actual labor included in 0&M labor forecast.
2.) Remove depreciation & amortization expense included in depreciation & amortization
expense forecast. Depreciation & amortization expense deferred in 2024 was a carryover
from WMP related plant placed in service in December 2023.
3 The Idaho-jurisdictional WMP 0&M Adjustment results in
4 an increase to 0&M of $15, 632, 365, which is included on
5 page 5, line 13, column 5, page 7, lines 4, 5, 15 and 16,
6 column 5, and page 8, lines 20 and 21, column 5 .
7 Q. Please describe the adjustments for Oregon
8 regulatory expenses, community solar and intervenor
9 funding.
10 A. An adjustment was made to remove $109, 325 in
11 amortization expense for deferred Oregon annual regulatory
12 expenses, $159, 048 in amortization expense for the Oregon
13 community solar and $50, 990 in amortization expense for the
14 Oregon Citizens' Utility Board ("CUB") intervenor funding
JEPPSEN, DI 13
Idaho Power Company

1 being collected in Oregon rates pursuant to OPUC Order Nos .
2 23-185 and 24-153 . These amounts were recorded to Account
3 928 . 303 in 2024 . The adjustments for Oregon regulatory
4 expenses, community solar, and intervenor funding make up
5 $319, 363 of the total adjustment, $323, 665, which can be
6 seen on page 8, line 27, column 5 .
7 Q. Were there any other adjustments to O&M on
8 page 3 through 8 of Exhibit No . 18?
9 A. Yes . In addition to the standard regulatory
10 adjustments there were two other adjustments to 0&M. An
11 adjustment was made to increase account 923 by $5, 105 and
12 remove $4, 302 from Account 928, due to the miscoding of
13 some legal fees in December 2024 . The miscoding was
14 identified after the financial books had closed for
15 December, so Idaho Power was unable to perform an
16 accounting correction journal entry. These adjustments can
17 be seen on page 8, line 19 and line 27, column 5, Account
18 923 and Account 928 .
19 Q. Please describe the adjustment quantified on
20 page 9 of Exhibit No. 18, Property Insurance .
21 A. The amount included on line 6 of page 9
22 represents the adjustment to Account 924 for deferred WMP-
23 related property insurance as seen in Table 2 above.
24 Q. Please describe the adjustments quantified on
25 page 10, Lines 10, 14 and 18 of Exhibit No. 18, Regulatory
JEPPSEN, DI 14
Idaho Power Company

1 Commission Expenses .
2 A. The amounts included on lines 10 and 18 of
3 page 10 represent adjustments to Accounts 928 . 203 and
4 928 . 503, respectively, due to miscoding of legal fees in
5 December 2024 described in this testimony above . The
6 amounts included on line 14 of page 10 represent the
7 adjustment to Account 928 . 303 for Oregon annual regulatory
8 expenses, Oregon community solar costs, Oregon CUB
9 intervenor funding, and miscoding of legal fees in December
10 2024 described in this testimony above.
11 Q. Please describe the adjustments quantified on
12 page 11 of Exhibit No . 18, Depreciation and Amortization
13 Expense .
14 A. The amount on line 2, column 4 of page 11
15 removes Bridger and Valmy coal-related depreciation
16 expense . The adjustment for 2024 Bridger coal-related
17 electric plant depreciation expense is $26, 482, 834 . The
18 adjustment for 2024 Valmy electric plant depreciation
19 expense is $23, 132, 116 . The sum of these two adjustments is
20 a $49, 614, 950 reduction to depreciation expense.
21 Q. Please describe the adjustments quantified on
22 page 13 of Exhibit No. 18, Regulatory Debits and Credits .
23 A. On June 25, 2020, the Commission authorized
24 the Company to record expenses associated with cloud
25 computing arrangements to a regulatory asset. Further, the
JEPPSEN, DI 15
Idaho Power Company

1 Commission directed that amortization begins when the asset
2 is placed in service and becomes used and useful .2 In 2024
3 Idaho Power recorded amortization of a regulatory asset for
4 the Idaho-only portion of licensing costs for the Zycus
5 procurement tool and for the Azure cloud computing
6 agreement . The amount on line 2, column 4 of page 13 adds
7 back the net accounts payable accrual reversal of $191, 050
8 because otherwise it would understate the 2024 amounts .
9 During 2024 the accounts payable accrual was $2, 871, 038 and
10 the accounts payable accrual reversal was ($3, 062, 088)
11 primarily due to timing as the December 2023 accounts
12 payable accrual of $215, 640 was reversed in January 2024 .
13 Q. Please describe the adjustments quantified on
14 page 14 of Exhibit No. 18, Taxes Other Than Income Taxes,
15 to arrive at the adjusted 2024 Base.
16 A. The amounts included on lines 1, 2, 29 and 30
17 of page 14, column 3 in Exhibit No. 18 are eliminated by
18 the state and federal payroll loading reversal on line 34,
19 column 3 . These amounts represent federal unemployment,
20 Social Security, and state unemployment taxes,
21 respectively. The state and federal payroll loading
22 reversal effectively removes these amounts from Taxes Other
23 Than Income Taxes and spreads them over all accounts that
2 In the Matter of Idaho Power Company's Application for an Accounting
Order for Costs Associated with Cloud Computing Arrangements, Case No.
IPC-E-20-11, Order No. 34707, pg. 3 (June 25, 2020) .
JEPPSEN, DI 16
Idaho Power Company

1 receive labor charges through the payroll loading process .
2 Therefore, the adjustments in column 3, page 14 eliminate
3 these expenses in their entirety in order to demonstrate
4 that these amounts are not double counted when determining
5 the Company' s revenue requirement. The amounts included on
6 lines 5 and 8, column 4 represent the removal of Idaho
7 ($7, 837, 398) and Oregon ($2, 591, 160) property tax
8 litigation refunds received in 2024 but related to prior
9 years .' The small adjustment of $5, 869 on line 25, column 4
10 increases Oregon regulatory commission expenses due to
11 known 2024 costs that were not reflected in 2024 Actuals .
12 Q. Please describe pages 15 and 16 of Exhibit No.
13 18 .
14 A. Page 15 of Exhibit No. 18 reflects the net
15 earnings of IERCo that are added to operating income for
16 ratemaking purposes and page 16 reflects AFUDC related to
17 the Hells Canyon relicensing.
18 Q. How does the Company treat IERCo' s earnings
19 and investment for ratemaking purposes?
20
' See Idaho Dist. Ct. Nos. CV01-20-14896 (2020) (disputing assessed
value of utility property) , CV01-21-14121 (2021) (challenge to 2021
valuation methodology) , and CV02-22-12459 (2022) (appeal regarding
classification of electric assets) ; Or. Tax Ct. Nos. TC-MD 210375N
(2021) (property tax appeal regarding centrally assessed property) , TC-
MD 220409N (2022) (challenge to tax valuation of transmission
infrastructure) , TC-MD 230406N (2023) (dispute over depreciation
schedules in valuation) , and TC-MD 240567N (2024) (pending case on
intangible asset treatment) .
JEPPSEN, DI 17
Idaho Power Company

1 A. The primary purpose of IERCo is to mine the
2 coal that fuels the Bridger plant in Wyoming. Consistent
3 with prior Commission orders, the Company treats IERCo' s
4 coal operations as a part of its utility operations and,
5 accordingly, adds the current year IERCo earnings to
6 electric operating income and the investment in IERCo to
7 the net electric rate base. Accordingly, the interest
8 expense net of tax (line 13, page 15 of Exhibit No. 18) on
9 notes payable to Idaho Power has been added back to IERCo' s
10 Net Income from Operations . Additionally, the notes payable
11 (column 3, page 25 of Exhibit No. 18) to Idaho Power have
12 been added to IERCo' s rate base in determining the
13 Company' s net investment in IERCo to be included in total
14 system rate base .
15 Q. Please describe the adjustments to IERCo' s net
16 earnings and rate base in this proceeding.
17 A. Adjustments were made to increase IERCo' s rate
18 base for notes payable to Idaho Power in the amount of
19 $12, 685, 613 (column 3, line 14, page 25 of Exhibit No. 18)
20 and the associated interest expense adjustment net of
21 income tax of $529, 405 (column 3, line 13, page 15 of
22 Exhibit No . 18) in order for IERCo' s rate base and earnings
23 to reflect only the cash required to fund IERCo operations
24 for the year 2024 . If IERCo were to use these funds to make
25 a distribution of earnings to the Company, or if the
JEPPSEN, DI 18
Idaho Power Company

1 Company were to actually fold IERCo into its own
2 operations, the result would be the same as presented
3 herein.
4 Q. Please describe the data contained on pages 17
5 through 25 of Exhibit No. 18 .
6 A. Pages 17 through 25 of Exhibit No. 18 reflect
7 the development of all components applicable to the
8 combined system rate base of the Company for 2024 as
9 directed by Mr. Larkin. Page 17 reflects the balance by
10 month and the thirteen-month average of Electric Plant in
11 Service, Account 101 . Page 18 reflects the balance by month
12 and the thirteen-month average of Accumulated Provision for
13 Depreciation, Account 108 . Page 19 reflects the balance by
14 month and the thirteen-month average of Accumulated
15 Provision for Amortization, Account 111 . Page 20 reflects
16 the balance by month and the thirteen-month average of
17 Materials and Supplies, Accounts 154 and 163 . Page 21 of
18 Exhibit No . 18 reflects the balance of the Company' s Other
19 Deferred Programs . For these programs, the Company has
20 included the December 31, 2024, ending balance in rate
21 base, consistent with previous orders . Page 22 reflects the
22 year-end balance of Plant Held for Future Use, Account 105 .
23 Page 23 reflects the balance at the end of 2024 and the
24 average balance for Accumulated Deferred Income Taxes,
25 Accounts 190, 282, and 283 . Page 24 reflects the balance by
JEPPSEN, DI 19
Idaho Power Company

1 month and the thirteen-month average balance of Customer
2 Advances for Construction, Account 252 . Page 25 reflects
3 the balance by month and thirteen-month average of the rate
4 base components for IERCo, consistent with prior Commission
5 orders .
6 Q. Please describe the adjustment on page 17 of
7 Exhibit No . 18 .
8 A. The adjustment in column 4, page 17 is to
9 remove the Electric Plant in Service associated with
10 Bridger and Valmy coal-related plant using the respective
11 average plant balance of the thirteen-month period between
12 December 2023 and December 2024 . Additionally, Idaho Power
13 removed Electric Plant in Service for Boardman coal-related
14 plant using the average of the thirteen-month period
15 between December 2023 and December 2024 . The only remaining
16 Boardman coal-related assets in Idaho Power' s Electric
17 Plant in Service accounts as of November 30, 2024, was land
18 and land rights which were sold to Portland General
19 Electric and removed from plant in service in December 2024
20 (Oregon Public Utilities Commission (""OPUC") Case No . UP
21 419) . There is no associated depreciation expense or
22 accumulated depreciation because land does not depreciate.
23 On February 15, 2012, the Commission authorized the
24 Company' s request to establish regulatory accounting, a
25 cost recovery plan, and a balancing account to track the
JEPPSEN, DI 20
Idaho Power Company

1 costs and benefits associated with the early shut-down of
2 Boardman.4 Boardman ceased operations on October 15, 2020 .
3 The net proceeds of the sale were credited to the Boardman
4 balancing account.
5 Using the thirteen-month average of the period
6 between December 2023 and December 2024, the adjustment for
7 Bridger coal-related Electric Plant in Service results in a
8 reduction of $420, 274, 290 to total Electric Plant in
9 Service . Using the same period average for Valmy coal-
10 related Electric Plant in Service, the adjustment results
11 in a reduction of $264, 140, 745 to total Electric Plant in
12 Service . The Boardman adjustment results in a reduction in
13 Electric Plant in Service of $98, 409 associated with land
14 owned in fee . The sum of the thirteen-month average
15 adjustments to Total Electric Plant in Service,
16 $684, 513, 444 is presented on line 14, Column 4, page 17 .
17 Q. Please describe the adjustment on page 18,
18 Accumulated Provision for Depreciation of Exhibit No. 18 .
19 A. The adjustment in column 4, page 18 is to
20 remove the accumulated depreciation related to Bridger and
21 Valmy coal-related plant, using a thirteen-month average of
22 December 2023 through December 2024 . The adjustment to
23 accumulated depreciation attributable to Bridger coal-
4 In the Matter of Idaho Power Company's Request for Acceptance of Its
Regulatory Plan Regarding the Early Shutdown of the Boardman Power
Plant, Case No. IPC-E-11-18, Order No. 32457 (Feb. 15, 2012) .
JEPPSEN, DI 21
Idaho Power Company

1 related plant results in a reduction of $309, 373, 589 . The
2 adjustment to accumulated depreciation related to Valmy
3 coal-related plant results in a reduction of $234, 567, 272 .
4 The sum of the thirteen-month average adjustments to Total
5 Accumulated Depreciation, a reduction of $543, 940, 861 is
6 presented on line 14, column 4, page 18 .
7 Q. Please describe the adjustment on page 20,
8 Materials and Supplies of Exhibit No. 18 .
9 A. The adjustment on line 14, column 4, page 20
10 of $1, 669, 738 is to remove amounts related to inventory
11 under quality review, using a thirteen-month average of
12 December 2023 through December 2024 . It should be noted
13 that the 2024 Actuals exclude Boardman inventory.
14 Q. Please describe in more detail Other Deferred
15 Programs on page 21 of Exhibit No. 18 .
16 A. Previous Commission-approved programs included
17 on page 21 of Exhibit No. 18 are the American Falls bond
18 refinancing costs (Order No. 25880) , the Idaho Siemens
19 Long-Term Program ("LTP") (Order No . 33420) , Cloud
20 Computing (Order No . 34707) , Wildfire Mitigation (Order
21 Nos . 35077, 35717, and 36042) , Western Resource Adequacy
22 Program (Order No. 35920) , and Intervenor Funding (Order
23 Nos . 36042 and 36048) . The American Falls bond refinancing
24 is being amortized over the life of the American Falls bond
25 and will be fully amortized in 2025 . The adjustment on line
JEPPSEN, DI 22
Idaho Power Company

1 4, column 4 for cloud computing reduces 2024 Actuals by
2 $439, 262 related to a customer information system project
3 that is not yet in-service.
4 Also included on Page 21 of Exhibit No. 18 is the
5 CUB 2023-2025 Fund Grant (OPUC Order Nos . 23-185, 24-153,
6 and 24-006) , the Siemens LTP (OPUC Order No. 15-387) , the
7 Statement of Financial Accounting Standards 87 capitalized
8 pension costs (OPUC Order No. 10-064) , Wildfire Mitigation
9 (OPUC Order No. 24-010) , and the Jim Bridger Plant End-of-
10 Life Depreciation (OPUC Order No. 12-296) .
11 Q. Please describe in more detail Plant Held for
12 Future Use, Account 105, on page 22 of Exhibit No . 18 .
13 A. Consistent with treatment approved in the 2011
14 Idaho General Rate Case, Case No. IPC-E-11-08, the Company
15 has included portions of Plant Held for Future Use in rate
16 base . Idaho Code § 61-502A allows the Commission to set
17 rates for utilities that include a rate of return on
18 property held for future use if the Commission makes an
19 explicit finding that such a return is in the public
20 interest . In preparing this case, the Company performed a
21 review and identified those parcels of land included in
22 Account 105, Plant Held for Future Use, that are
23 anticipated to be used in their entirety for operating
24 property in the future. As a result of this review, the
25 year-end 2024 Actuals balance of $13, 210, 723 (page 22,
JEPPSEN, DI 23
Idaho Power Company

1 column 3, line 42) has been reduced by $2, 554, 851 (page 22,
2 column 4, line 42) by those properties or facilities that
3 are pending an RFP or CPCN process or for which the use is
4 uncertain, may be split, or for structures that will be
5 razed prior to the start of construction to arrive at an
6 adjusted 2024 Base of $10, 655, 872 (page 22, column 5, line
7 42) .
8 Q. Please describe the adjustment on page 24,
9 Customer Advances for Construction of Exhibit No. 18 .
10 A. The adjustment in column 4, page 24 of
11 $10, 000, 000 is to remove the amount received from the
12 Bonneville Power Administration related to Boardman to
13 Hemingway ("B2H") seller' s security using a thirteen-month
14 average of December 2023 through December 2024 .
15 Q. Please describe Exhibit No. 19 .
16 A. Exhibit No. 19 reflects the detailed support
17 of deductions from the 0&M expenses of the Company for
18 general advertising expenses, certain memberships and
19 contributions, certain senior management expenses, and
20 miscellaneous other expenses . This screening process is
21 consistent with previous Idaho general rate case filings .
22 Q. Please describe in more detail pages 2 through
23 10 of Exhibit No. 19 .
24 A. The Company has put processes in place to
25 review and screen its accounting records to identify
JEPPSEN, DI 24
Idaho Power Company

1 memberships and contributions in an effort to properly
2 identify, account for, and share the costs of each. All
3 contributions, and either 33 percent or 100 percent of
4 certain memberships, have been removed. This screening
5 process is consistent with previous Idaho general rate case
6 filings .
7 Additionally, officer expenses have been reviewed
8 and adjusted by (1) removing 100 percent of all charges to
9 the Arid Club and Oregon jurisdiction direct charges, (2)
10 removing one-third of Edison Electric Institute expenses,
11 and (3) allocating the balance of expense account charges
12 of officers between Idaho Power and IDACORP on the basis of
13 how their payroll is charged. Four officers had no further
14 allocation based on payroll because they either incurred no
15 expenses, their management responsibilities are solely
16 incurred on behalf of Idaho Power, or their expenses are
17 reviewed monthly for proper allocation between IDACORP and
18 Idaho Power, thus not requiring further allocation.
19 Lastly, the Company has reviewed all expense account
20 charges to 0&M in an effort to identify and exclude charges
21 from regulatory recovery based on prior concerns expressed
22 in other filings based on the nature of the charge. While
23 many of these expense account charges are legitimate
24 business expenses, out of an abundance of caution, they
25 were removed.
JEPPSEN, DI 25
Idaho Power Company

1 Q. Are all the data and associated adjustments
2 made to your exhibits and supporting schedules calculated
3 on a total system basis?
4 A. Yes, except for the WMP adjustments to O&M
5 that are presented on an Idaho-allocated basis .
6 Q. Does this conclude your direct testimony in
7 this case?
8 A. Yes, it does .
9
10
JEPPSEN, DI 26
Idaho Power Company

1 DECLARATION OF PAULA JEPPSEN
2 I, Paula Jeppsen, declare under penalty of perjury
3 under the laws of the state of Idaho:
4 1 . My name is Paula Jeppsen. I am employed by
5 Idaho Power Company as Forecasting and Planning Director.
6 2 . On behalf of Idaho Power, I present this
7 pre-filed direct testimony and Exhibit Nos . 18 through 19
8 in this matter.
9 3 . To the best of my knowledge, my pre-filed
10 direct testimony and exhibits are true and accurate.
11 I hereby declare that the above statement is true to
12 the best of my knowledge and belief, and that I understand
13 it is made for use as evidence before the Idaho Public
14 Utilities Commission and is subject to penalty for perjury.
15 SIGNED this 30th day of May 2025, at Boise, Idaho.
16
17 Signed:
18 PAULA JEPPSEN
19
20
21
22
23
24
JEPPSEN, DI 27
Idaho Power Company

BEFORE THE
IDAHO PUBLIC UTILITIES COMMISSION
CASE NO. IPC-E-25-16
IDAHO POWER COMPANY
JEPPSEN , DI
TESTIMONY
EXHIBIT NO. 18

IDAHO POWER COMPANY
OTHER OPERATING REVENUES
For Twelve Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Miscellaneous service revenues (451).................................................................
1 Idaho............................................................................................................... $ 6,753,090 - 6,753,090 YES - - 6,753,090 - 6,753,090
2 Oregon............................................................................................................ 85,703 - 85,703 YES - - 85,703 - 85,703
3 Total Miscellaneous service revenues ........................................................... 6,838,793 - 6,838,793 - - 6,838,793 - 6,838,793
Rent from electric property(454):
4 Substation equipment........................................................................................ 3,195,122 - 3,195,122 YES - - 3,195,122 - 3,195,122
5 Transformer& distribution rentals...................................................................... 17,330 - 17,330 YES - - 17,330 - 17,330
Cogeneration and small power production........................................................
6 Idaho............................................................................................................... 1,690,890 - 1,690,890 4,824 4,824 1,695,714 - 1,695,714
7 Oregon............................................................................................................ 284,183 - 284,183 YES - - 284,183 - 284,183
8 Total Cogeneration and small power production............................................ 1,975,074 - 1,975,074 4,824 4,824 1,979,898 - 1,979,898
Realestate rents...............................................................................................
9 Idaho............................................................................................................... 394,598 - 394,598 YES - - 394,598 - 394,598
10 Oregon............................................................................................................ 39,316 - 39,316 YES - - 39,316 - 39,316
11 Total Real estate rents................................................................................... 433,914 - 433,914 - - 433,914 - 433,914
Joint pole attachments.......................................................................................
12 Idaho............................................................................................................... 1,755,568 - 1,755,568 YES - - 1,755,568 - 1,755,568
13 Oregon............................................................................................................ 44,984 - 44,984 YES - - 44,984 - 44,984
14 Total Joint pole attachments........................................................................... 1,800,552 - 1,800,552 - - 1,800,552 - 1,800,552
Facilitiescharges...............................................................................................
15 Idaho............................................................................................................... 10,583,594 - 10,583,594 545,415 545,415 11,129,009 - 11,129,009
16 Oregon............................................................................................................ 449,199 - 449,199 YES - - 449,199 - 449,199
17 Total Facilities charges................................................................................... 11,032,793 - 11,032,793 545,415 545,415 11,578,208 - 11,578,208
18 Overnight park rents.......................................................................................... 921,471 - 921,471 YES - - 921,471 - 921,471
19 Water District payments.................................................................................... 96,110 - 96,110 (8,745) (8,745) 87,365 - 87,365
20 Miscellaneous.................................................................................................... - - - - - - - -
21 Total rent from electric property..................................................................... 19,472,366 - 19,472,366 541,494 541,494 20,013,860 - 20,013,860
Other electric revenue (456):
22 Network Service ............................................................................................... 11,487,773 - 11,487,773 275,765 275,765 11,763,538 - 11,763,538
23 Point-to- Point and other services................................................................... 55,863,562 - 55,863,562 (1,444,646) (1,444,646) 54,418,916 - 54,418,916
24 Photovoltaic....................................................................................................... - - - YES - - - - -
25 Antelope............................................................................................................ - - - YES - - - - -
26 Sierra Pacific Power Company sales................................................................ 735,705 - 735,705 (657,857) (657,857) 77,848 - 77,848
27 Stand-by service ............................................................................................... 1,158,065 - 1,158,065 YES - - 1,158,065 - 1,158,065
28 Energy efficiency rider ...................................................................................... 27,580,701 (27,580,701) - YES - - - -
29 Miscellaneous.................................................................................................... 1,863 - 1,863 YES - - 1,863 - 1,863
30 Total other electric revenue............................................................................ 96,827,670 (27,580,701) 69,246,968 (1,826,738) (1,826,738) 67,420,230 - 67,420,230
31 Total other operating revenues............................................................................ $ 123,138,829 $ (27,580,701) $ 95,558,128 $ (1,285,244) $ (1,285,244) A $ 94,272,884 $ - $ 94,272,884
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 1 of 25

IDAHO POWER COMPANY
OTHER REVENUES AND EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Program Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Other Revenues(Acct 415):
1 Power Solutions........................................................................ $ 9,153 $ - $ 9,153 YES $ - $ - $ 9,153 $ - $ 9,153
2 Hydro Services.......................................................................... 5,419 - 5,419 YES - - 5,419 - 5,419
3 Water Management Services.................................................... 23,358 - 23,358 YES - - 23,358 - 23,358
4 Qualified Reporting Entity Svcs................................................. 7,790 - 7,790 YES - - 7,790 - 7,790
5 Operating Agreements.............................................................. 3,669,744 - 3,669,744 YES - - 3,669,744 - 3,669,744
6 Joint Use(Pole)-Idaho............................................................ 660,674 - 660,674 113,624 113,624 774,299 - 774,299
7 Joint Use(Pole)-Oregon......................................................... - - - 5,779 5,779 5,779 - 5,779
8 Total...................................................................................... $ 4,376,138 $ - $ 4,376,138 $ 119,403 $ 119,403 B $ 4,495,541 $ - $ 4,495,541
Other Expenses(Acct 416):
9 Power Solutions........................................................................ $ 97,006 $ - $ 97,006 YES $ - $ - $ 97,006 $ - $ 97,006
10 Hydro Services.......................................................................... 26,334 - 26,334 YES - - 26,334 - 26,334
11 Water Management Services.................................................... 10,374 - 10,374 YES - - 10,374 - 10,374
12 Qualified Reporting Entity Svcs................................................. 3,924 - 3,924 YES - - 3,924 - 3,924
13 Operating Agreements.............................................................. 3,669,744 - 3,669,744 YES - - 3,669,744 - 3,669,744
14 Joint Use-Idaho....................................................................... 1,611,008 - 1,611,008 128,655 128,655 1,739,663 - 1,739,663
15 Joint Use-Oregon.................................................................... YES - - - -
16 Total...................................................................................... $ 5,418,390 $ - $ 5,418,390 $ 128,655 $ 128,655 C $ 5,547,046 $ - $ 5,547,046
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 2 of 25

IDAHO POWER COMPANY
OPERATION AND MAINTENANCE EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
FERC Methodology 2025
LINE ACCOUNT 2024 2024 2024 2024 Ref Unadjusted 2025
NO NUMBER DESCRIPTION Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Power production expenses:
Steam power generation-
Operation-
1 500 Oper and supv engineering........................................................................ $ 954,516 $ (283,105) $ 671,411 $ 1,123 $ 1,123 $ 672,534 $ 8,760 $ 681,294
2 501 Fuel
3 502 Steam expenses 8,856,796 (4,095,143) 4,761,653 - - 4,761,653 - 4,761,653
4 505 Electric expenses........................................................................................ 1,752,549 - 1,752,549 - - 1,752,549 - 1,752,549
5 506 Misc steam power expenses...................................................................... 8,027,360 (6,754,326) 1,273,034 28 28 1,273,062 217 1,273,279
6 507 Rents........................................................................................................... 223,832 (223,832) (0) - - (0) - (0)
7 Total operation............................................................................................................... 19,815,051 (11,356,406) 8,458,645 1,151 1,151 8,459,796 8,977 8,468,773
Maintenance-
8 510 Main supv and engineering......................................................................... 52,861 (52,861) (0) - - (0) - (0)
9 511 Main of structures....................................................................................... 355,731 - 355,731 - - 355,731 - 355,731
10 512 Main of boiler plant..................................................................................... 8,521,483 (6,614,610) 1,906,873 - - 1,906,873 - 1,906,873
11 513 Main of electric plant................................................................................... 3,152,576 (3,237,241) (84,665) - - (84,665) - (84,665)
12 514 Main of misc steam plant............................................................................ 7,462,549 (7,305,745) 156,804 - - 156,804 - 156,804
13 Total maintenance......................................................................................................... 19,545,200 (17,210,457) 2,334,743 - - 2,334,743 - 2,334,743
14 Total steam power generation....................................................................................... 39,360,251 (28,566,863) 10,793,388 1,151 1,151 10,794,539 8,977 10,803,516
Hydraulic power generation-
Operation-
15 535 Oper supv and engineering 6,209,394 - 6,209,394 27,440 27,440 6,236,834 214,121 6,450,955
16 536 Water for power/Cloud seeding.................................................................. 2,910,129 (403) 2,909,726 1,129,569 1,129,569 4,039,295 30,302 4,069,597
17 536 Water leases.............................................................................................. - - - - - - - -
18 537 Hydraulic expenses..................................................................................... 21,238,903 - 21,238,903 42,976 42,976 21,281,879 335,350 21,617,229
19 538 Electric expenses........................................................................................ 2,316,268 - 2,316,268 10,002 10,002 2,326,270 78,052 2,404,322
20 539 Misc hydro pwr gen exp.............................................................................. 6,579,401 - 6,579,401 25,871 25,871 6,605,272 201,880 6,807,152
21 540 Rents 319,089 319,089 319,089 319,089
22 Total operation............................................................................................................... 39,573,184 (403) 39,572,781 1,235,858 1,235,858 40,808,639 859,705 41,668,344
Maintenance-
23 541 Main supv and engineering......................................................................... 179,739 - 179,739 851 851 180,590 6,640 187,230
24 542 Main of structures 1,151,714 - 1,151,714 3,883 3,883 1,155,597 30,301 1,185,898
25 543 Main of res,dams,waterwys 1,721,351 - 1,721,351 2,367 2,367 1,723,718 18,474 1,742,192
26 544 Main of electric plant................................................................................... 3,786,618 - 3,786,618 13,465 13,465 3,800,083 105,069 3,905,152
27 545 Main of misc hydro plant............................................................................. 5,139,109 (25) 5,139,084 17,339 17,339 5,156,423 135,299 5,291,722
28 Total maintenance......................................................................................................... 11,978,531 (25) 11,978,506 37,905 37,905 12,016,411 295,783 12,312,194
29 Total hydraulic power generation 51,551,715 (428) 51,551,287 1,273,763 1,273,763 52,825,050 1,155,488 53,980,538
Other power generation-
Operation-
30 546 Oper supv and engineering........................................................................ 596,233 - 596,233 2,960 2,960 599,193 23,101 622,294
31 547.000 Fuel-Salmon diesel................................................................................... 11,926 - 11,926 - - 11,926 - 11,926
32 547 Fuel............................................................................................................
33 548 Generation expenses 6,247,380 - 6,247,380 21,927 21,927 6,269,307 171,101 6,440,408
34 549 Misc other pwr gen exp............................................................................... 729,077 - 729,077 2,771 2,771 731,848 21,620 753,468
35 550 Rents........................................................................................................... - - - - - - - -
36 Total operation............................................................................................................... 7,584,616 - 7,584,616 27,658 27,658 7,612,274 215,822 7,828,096
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,PC
Page 3 of 25

IDAHO POWER COMPANY
OPERATION AND MAINTENANCE EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
FERC Methodology 2025
LINE ACCOUNT 2024 2024 2024 2024 Ref Unadjusted 2025
NO NUMBER DESCRIPTION Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Other power generation-(continued)
Maintenance-
1 551 Main supv and engineering......................................................................... $ - $ - $ - $ - $ - $ - $ - $ -
2 552 Main of structures....................................................................................... 101,732 - 101,732 317 317 102,049 2,476 104,525
3 553 Main of gen and elec plt.............................................................................. 109,760 - 109,760 346 346 110,106 2,696 112,802
4 554 Main misc oth pwr gen plt........................................................................... 3,223,775 - 3,223,775 2,806 2,806 3,226,581 21,897 3,248,478
5 Total maintenance 3,435,266 3,435,266 3,469 3,469 3,438,735 27,069 3,465,804
6 Total other power generation......................................................................................... 11,019,881 - 11,019,881 31,127 31,127 11,051,008 242,891 11,293,899
Other power supply expenses-
7 555.050 Purchased power-transmission losses.................................................... -
8 555 Purchased power........................................................................................
9 556 System cont and load disp 84 - 84 - - 84 3 87
10 557 Other expenses-other power production.................................................. 7,430,223 (4) 7,430,219 32,272 32,272 7,462,491 251,828 7,714,319
11 557 Other expenses-PCA,EPC and PCAM....................................................
12 557 Other expenses-Bridger GAAP Adj.......................................................... (14,383,038) 14,383,038 (0) - - (0) - (0)
13 Total other power supply expenses.............................................................................. (6,952,731) 14,383,034 7,430,303 32,272 32,272 7,462,575 251,831 7,714,406
14 Total power production expenses 94,979,117 (14,184,257) 80,794,860 1,338,313 1,338,313 82,133,173 1,659,187 83,792,360
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,PC
Page 4 of 25

IDAHO POWER COMPANY
OPERATION AND MAINTENANCE EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
FERC Methodology 2025
LINE ACCOUNT 2024 2024 2024 2024 Ref Unadjusted 2025
NO NUMBER DESCRIPTION Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Transmission expenses:
Operation-
1 560 Oper supv and engineering $ 2,806,087 $ (4,302) $ 2,801,785 $ 11,568 $ 11,568 $ 2,813,353 $ 90,270 $ 2,903,623
2 561 Load dispatching......................................................................................... 5,097,850 - 5,097,850 17,600 17,600 5,115,450 137,336 5,252,786
3 562 Station expenses........................................................................................ 2,589,638 (4) 2,589,634 10,494 10,494 2,600,128 81,889 2,682,017
4 563 Overhead line expenses............................................................................. 1,249,690 - 1,249,690 2,854 2,864 1,252,544 22,271 1,274,815
5 564 Underground line expenses........................................................................ _ _ _ _ _ _ _ _
6 565 Trans of elec by others...............................................................................
7 566 Misc trans expenses - - - - - - - -
8 567 Rents. 4,528,250 4,528,250 4,528,250 4,528,250
9 Total operation............................................................................................................... 16,271,515 (4,306) 16,267,209 42,516 42,516 16,309,725 331,766 16,641,491
Maintenance-
10 568 Main supv and engineering......................................................................... 470,610 - 470,610 1,308 1,308 471,918 10,210 482,128
11 569 Main of structures 1,703,732 - 1,703,732 6,971 6,971 1,710,703 54,400 1,765,103
12 570 Main of station equip................................................................................... 3,192,925 (4) 3,192,921 13,762 13,762 3,206,683 107,391 3,314,074
13 571 Main of overhead lines................................................................................ 4,186,984 3,047,080 7,234,064 1,762,385 1,762,385 8,996,449 56,380 9,052,829
14 573 Main of misc trans plant.............................................................................. 760 - 760 3 3 763 27 790
15 Total maintenance......................................................................................................... 9,555,011 3,047,076 12,602,087 1,784,429 1,784,429 14,386,516 228,408 14,614,924
16 Total transmission expenses 25,826,526 3,042,770 28,869,296 1,826,945 1,826,945 30,696,241 560,174 31,256,415
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,PC
Page 5 of 25

IDAHO POWER COMPANY
OPERATION AND MAINTENANCE EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
FERC Methodology 2025
LINE ACCOUNT 2024 2024 2024 2024 Ref Unadjusted 2025
NO NUMBER DESCRIPTION Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Regional market expenses:
Operation-
1 575 Admin-EIM.................................................................................................. 552,732 - 552,732 - - 552,732 - 552,732
2 Total operation............................................................................................................... 552,732 - 552,732 - - 552,732 - 552,732
3 Total regional market expenses..................................................................................... 552,732 - 552,732 - - 552,732 - 552,732
Energy storage expenses:
Operation-
4 577 - - - - - - - -
5 Total operation............................................................................................................... - - - - - - - -
Maintenance-
6 578 - - - 1,870,920 1,870,920 1,870,920 - 1,870,920
7 Total maintenance......................................................................................................... - - - 1,870,920 1,870,920 1,870,920 - 1,870,920
8 Total energy storage expenses...................................................................................... - - - 1,870,920 1,870,920 1,870,920 - 1,870,920
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,PC
Page 6 of 25

IDAHO POWER COMPANY
OPERATION AND MAINTENANCE EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
FERC Methodology 2025
LINE ACCOUNT 2024 2024 2024 2024 Ref Unadjusted 2025
NO NUMBER DESCRIPTION Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Distribution expenses:
Operation-
1 580 Oper supv and engineering 4,981,783 (6,365) 4,975,418 19,103 19,103 4,994,521 149,066 5,143,587
2 581 Load dispatching......................................................................................... 5,988,645 - 5,988,645 29,657 29,657 6,018,302 231,424 6,249,726
3 582 Station expenses........................................................................................ 1,953,587 (4) 1,953,583 6,025 6,025 1,959,608 47,019 2,006,627
4 583 Overhead line expenses............................................................................. 6,679,549 19,268 6,698,817 41,955 41,955 6,740,772 194,110 6,934,882
5 584 Underground line expenses........................................................................ 6,009,462 (4,307) 6,005,155 8,983 8,983 6,014,138 70,099 6,084,237
6 585 St light and sgnl sys exp............................................................................. 190 - 190 1 1 191 6 197
7 586 Meter expenses 6,857,272 - 6,857,272 28,496 28,496 6,885,768 222,360 7,108,128
8 587 Customer install expenses 1,261,551 - 1,261,551 5,293 5,293 1,266,844 41,306 1,308,150
9 588 Misc distribution exp................................................................................... 4,391,126 (10,522) 4,380,604 15,983 15,983 4,396,587 124,718 4,521,305
10 589 Rents........................................................................................................... 403,629 - 403,629 - - 403,629 - 403,629
11 Total operation............................................................................................................... 38,526,794 (1,930) 38,524,864 155,496 155,496 38,680,360 1,080,108 39,760,468
Maintenance-
12 590 Main supv and engineering......................................................................... 9,118 - 9,118 32 32 9,150 253 9,403
13 591 Main of structures....................................................................................... - - - - - - - -
14 592 Main of station equip................................................................................... 5,336,750 (4) 5,336,746 18,358 18,358 5,355,104 143,249 5,498,353
15 593 Main of overhead lines................................................................................ 35,534,246 7,150,702 42,684,948 9,805,824 9,805,824 52,490,772 278,998 52,769,770
16 594 Main of underground lines.......................................................................... 987,659 (7,890) 979,769 2,480 2,480 982,249 19,355 1,001,604
17 595 Main of line transformers 59,807 - 59,807 130 130 59,937 1,016 60,953
18 596 Main of sl Ight-sgnl sys 202,841 - 202,841 483 483 203,324 3,763 207,087
19 597 Main of meters............................................................................................ 1,017,258 - 1,017,258 4,560 4,560 1,021,818 35,582 1,057,400
20 598 Main of misc dist plant................................................................................ 220,009 - 220,009 704 704 220,713 5,497 226,210
21 Total maintenance......................................................................................................... 43,367,688 7,142,808 50,510,496 9,832,571 9,832,571 60,343,067 487,713 60,830,780
22 Total distribution expenses 81,894,482 7,140,878 89,035,360 9,988,067 9,988,067 99,023,427 1,567,821 100,591,248
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,PC
Page 7 of 25

IDAHO POWER COMPANY
OPERATION AND MAINTENANCE EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
FERC Methodology 2025
LINE ACCOUNT 2024 2024 2024 2024 Ref Unadjusted 2025
NO NUMBER DESCRIPTION Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Customer accounts expenses:
Operation-
1 901 Supervision $ 917,633 $ (507) $ 917,126 $ 4,454 $ 4,454 $ 921,580 $ 34,753 $ 956,333
2 902 Meter reading expenses............................................................................. 2,086,175 - 2,086,175 7,428 7,428 2,093,603 57,963 2,151,566
3 903 Cust records-collect exp........................................................................... 17,311,614 (26) 17,311,588 60,166 60,166 17,371,754 469,494 17,841,248
4 904 Uncollectible accounts................................................................................ 4,630,705 - 4,630,705 - - 4,630,705 - 4,630,705
5 905 Misc customer accts exp............................................................................ 11 - 11 - - 11 - 11
6 Total customer accounts expenses 24,946,138 (533) 24,945,605 72,048 72,048 25,017,653 562,210 25,579,863
Customer service and informational expenses:
Operation-
7 907 Supervision................................................................................................. 1,166,372 - 1,166,372 5,532 5,532 1,171,904 43,166 1,215,070
8 908 Customer assistance exp........................................................................... 9,974,931 (484) 9,974,447 46,684 46,684 10,021,131 364,291 10,385,422
9 908 Energy efficiency rider-Idaho.................................................................... 25,912,504 (25,912,504) - - - - - -
10 908 Energy efficiency rider-Oregon 1,668,198 (1,668,198) - - - - - -
11 909 Info and instruct adv exp............................................................................. 342,954 - 342,954 - - 342,954 - 342,954
12 910 Misc cust svc and inf exp............................................................................ 733,643 - 733,643 2,148 2,148 735,791 16,759 752,550
13 912 Demo and selling exp................................................................................. - - - - - - - -
Total customer service and
14 informational expenses 39,798,601 (27,581,185) 12,217,416 54,364 54,364 12,271,780 424,216 12,695,996
Administrative and general expenses:
Operation-
15 920 Admin and gen salaries.............................................................................. 80,086,336 - 80,086,336 398,172 398,172 80,484,508 3,107,044 83,591,552
16 920 Incentive...................................................................................................... 30,168,168 (30,168,168) - 11,949,316 11,949,316 11,949,316 - 11,949,316
17 921 Office supplies and exp.............................................................................. 19,328,502 (29,176) 19,299,326 (686,437) (686,437) 18,612,890 18,757 18,631,647
18 922 Admin exp transf-cr (47,555,951) - (47,555,951) (235,937) (235,937) (47,791,888) (1,841,082) (49,632,970)
19 923 Outside services employed 10,696,562 5,105 10,701,666 - - 10,701,666 - 10,701,666
20 924 Property insurance...................................................................................... 5,047,711 1,228,229 6,275,940 1,588,579 1,588,579 7,864,519 132,813 7,997,332
21 925 Injuries and damages................................................................................. 10,612,690 4,198,655 14,811,345 4,012,722 4,012,722 18,824,067 10,998 18,835,065
22 926 Emp pensions and benefits........................................................................ 48,372,013 (321) 48,371,692 237,835 237,835 48,609,527 1,855,892 50,465,419
23 926.OR Emp pensions and benefits-Oregon......................................................... 542,861 - 542,861 - - 542,861 - 542,861
24 926.204 Emp pensions and benefits-Idaho............................................................ 35,182,378 - 35,182,378 - - 35,182,378 - 35,182,378
25 926.205 Emp pensions and benefits-FERC........................................................... -
26 927 Franchise requirements.............................................................................. _ _ _ _ _ _ _ _
27 928 Reg commission expenses........................................................................ 6,953,560 (323,665) 6,629,895 53,887 53,887 6,683,782 - 6,683,782
28 929 Duplicate charges-cr................................................................................ - - - - - - - -
29 930.1 General advertising exp.............................................................................. 133,442 (133,442) - - - - - -
30 930.2 Misc general expenses............................................................................... 4,681,625 (460,172) 4,221,453 798 798 4,222,251 6,231 4,228,482
31 931 Rents
32 Total operation............................................................................................................... 204,249,895 (25,682,955) 178,566,940 17,318,936 17,318,936 195,885,876 3,290,653 199,176,529
Maintenance-
33 935 Main of general plant.................................................................................. 7,588,454 (7,342) 7,581,112 7,645 7,645 7,588,757 59,658 7,648,415
34 Total maintenance 7,588,454 (7,342) 7,581,112 7,645 7,645 7,588,757 5908 7,648,415
Total administrative and
35 general expenses.......................................................................................................... 211,838,349 (25,690,297) 186,148,052 17,326,581 17,326,581 203,474,633 3,350,311 206,824,944
Total electric operation
36 and maintenance expenses.......................................................................................... $ 479,835,946 $ (57,272,625) $ 422,563,322 $ 32,477,237 $ 32,477,237 D $ 455,040,559 $ 8,123,919 $ 463,164,478
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,PC
Page 8 of 25

IDAHO POWER COMPANY
OPERATION AND MAINTENANCE EXPENSES
PROPERTY INSURANCE-ACCOUNT 924
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Production-steam:
1 Bridger plant.............................................................................. $ 410,395 $ - $ 410,395 $ - $ - $ 410,395 $ - $ 410,395
2 Boardman plant......................................................................... - - - - - - - -
3 Valmy plant................................................................................ 80,729 - 80,729 - - 80,729 13,474 94,203
4 Total production-steam.......................................................... 491,124 - 491,124 - - 491,124 13,474 504,598
All risk:
5 Blanket fidelity bond................................................................... 47,419 - 47,419 14,401 14,401 61,820 - 61,820
6 Property"all risk"....................................................................... 3,857,092 1,228,229 5,085,321 1,544,344 1,544,344 6,629,665 99,135 6,728,800
7 Other miscellaneous.................................................................. 89,717 - 89,717 27,246 27,246 116,963 - 116,963
8 Total all risk............................................................................ 3,994,228 1,228,229 5,222,457 1,585,990 1,585,990 6,808,447 99,135 6,907,582
9 Total property insurance................................................................ $ 4,485,352 $ 1,228,229 $ 5,713.581 s1,585,990 s1.585,990 D s 7,299,571 $ 112,609 s 7,412,180
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,PC
Page 9 of 25

IDAHO POWER COMPANY
OPERATION AND MAINTENANCE EXPENSES
REGULATORY COMMISSION EXPENSES-ACCOUNT 928
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
FERC administrative assessments and securities(928.101)
1 Capacity........................................................................................... $ 3,191,111 $ - $ 3,191,111 YES $ - $ 3,191,111 $ - $ 3,191,111
2 Generation........................................................................................ 1,299,039 - 1,299,039 YES - 1,299,039 - 1,299,039
3 Ferc Order#472-Sales for resale..................................................... 1,078,140 - 1,078,140 YES - 1,078,140 - 1,078,140
4 Miscellaneous Other.......................................................................... 256,196 - 256,196 YES - 256,196 - 256,196
5 Total(928.101)............................................................................... 5,824,486 - 5,824,486 - - 5,824,486 - 5,824,486
6 FERC-Rate Case(928.102).............................................................. _ _ _ _ _ _ _ _
7 FERC-Oregon Hydro(928.104)......................................................... 445,502 - 445,502 YES - 445,502 - 445,502
8 Total FERC expense....................................................................... 6,269,988 - 6,269,988 - - 6,269,988 - 6,269,988
Idaho Public Utilities Commission expense:
9 Rate case(928.202)......................................................................... - - - - - - - -
10 Other(928.203)................................................................................ 89,772 3,900 93,672 53,887 53,887 147,559 - 147,559
11 Total IPUC expense........................................................................ 89,772 3,900 93,672 53,887 53,887 147,559 - 147,559
Oregon Public Utility Commission expense:
12 Filing Fees(928.301)........................................................................ - - - - - - - -
13 Rate case(928.302)......................................................................... - - - - - - - -
14 Other(928.303)................................................................................ 546,675 (320,045) 226,630 YES - 226,630 - 226,630
15 Total OPUC expense....................................................................... 546,675 (320,045) 226,630 - - 226,630 - 226,630
Nevada Public Service Commission expense:
16 Other(928.403)................................................................................ - - - - - - - -
17 Total NPSC expense....................................................................... - - - - - - - -
18 Regulatory Commission Expense-System Other(928.503) 47,125 (7,520) 39,605 YES 39,605 39,605
19 Total regulatory commission expenses................................................. $ 6,953,560 $ (323,665) $ 6,629,895 $ 53,887 $ 53,887 $ 6,683,782 $ - $ 6,683,782
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,PC
Page 10 of 25

IDAHO POWER COMPANY
DEPRECIATION AND AMORTIZATION EXPENSE
For Twelve Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Accounts 403 and 404:
1 Amortization expense............................................................. $ 7,616,790 1.) $ - $ 7,616,790 $ 2,086,567 $ 2,086,567 $ 9,703,357 $ 329,198 $ 10,032,555
2 Depreciation expense............................................................. 214,706,954 2.) (49,614,950) 165,092,004 21,182,024 21,182,024 186,274,028 6,970,289 193,244,317
3 Total................................................................................... $ 222,323,744 $ (49,614,950) $ 172,708,794 $ 23,268,591 $ 23,268,591 E $ 195,977,385 $ 7,299,487 $ 203,276,872
1. Includes account 406001 Amort of Elec Plnt Acq Adj $15,017.88
2. Includes account 407312 Reg DR-OR Bridger Inc Inv ($49,989.53)
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 11 of 25

IDAHO POWER COMPANY
ELECTRIC PLANT/REGULATORY ASSETS-AMORT.,ADJUST.,GAINS&LOSSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
1 406 Amortization of Electric Plant Acquisition Adjustment-Asset Exchange
(IPUC Order No.33313,OPUC Order No.15-184,FERC Order No.20150617-3060)..... $ 15,018 $ - $ 15,018 YES $ - $ - $ 15,018 $ - $ 15,018
2 Total................................................................................................................................. $ 15,018 $ - $ 15,018 $ - $ - F $ 15,018 $ - $ 15,018
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 12 of 25

IDAHO POWER COMPANY
REGULATORY DEBITS AND CREDITS
For Twelve Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Regulatory Debits (Acct 407.3):
Idaho
1 Siemens LTP Amort- Idaho.............................................. $ 1,075,354 $ - $ 1,075,354 YES $ - $ - $ 1,075,354 $ - $ 1,075,354
2 Cloud computing............................................................... $ 175,785 $ 191,050 $ 366,835 $ (75,954) $ (75,954) $ 290,881 $ - $ 290,881
3 Wildfire Mitigation.............................................................. $ 3,811,175 $ - $ 3,811,175 $ 10,478,276 $ 10,478,276 $ 14,289,451 $ - $ 14,289,451
4 Subtotal Idaho.................................................................. $ 5,062,314 $ 191,050 $ 5,253,364 $ 10,402,322 $ 10,402,322 $ 15,655,686 $ - $ 15,655,686
Oregon
5 Deferred Pension-Oregon............................................... $ 243,991 $ - $ 243,991 YES $ - $ - $ 243,991 $ - $ 243,991
6 Siemens LTP Amort-Oregon........................................... $ 83,362 $ - $ 83,362 YES $ - $ - $ 83,362 $ - $ 83,362
7 Subtotal Oregon............................................................... $ 327,353 $ - $ 327,353 $ - $ - $ 327,353 $ - $ 327,353
8 Total.............................................................................. $ 5,389,667 $ 191,050 $ 5,580,717 $ 10,402,322 $ 10,402,322 G $ 15,983,039 $ - $ 15,983,039
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 13 of 25

IDAHO POWER COMPANY
TAXES OTHER THAN INCOME TAXES
For Twelve Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Federal taxes:
1 Unemployment............................................................................... $ 95,933 $ - $ 95,933 YES $ - $ - $ 95,933 $ - $ 95,933
2 Social Security .............................................................................. 21,673,544 - 21,673,544 YES - - 21,673,544 - 21,673,544
3 Total federal taxes....................................................................... 21,769,477 - 21,769,477 - - 21,769,477 - 21,769,477
State, county and local taxes:
Real and personal property:
4 Idaho............................................................................................ 13,280,571 - 13,280,571 (13,280,571) (13,280,571) - - -
5 Idaho litigation refunds 2020-2022.............................................. (7,837,398) 1.) 7,837,398 -
6 Net Idaho .................................................................................... 5,443,173 7,837,398 13,280,571 (13,280,571) (13,280,571) - - -
7 Oregon......................................................................................... 4,853,708 - 4,853,708 48,319 48,319 4,902,027 - 4,902,027
8 Oregon litigation refunds 2021-2024........................................... (2,591,160) 2.) 2,591,160 -
9 Net Oregon.................................................................................. 2,262,548 2,591,160 4,853,708 48,319 48,319 4,902,027 - 4,902,027
10 Montana....................................................................................... 361,886 - 361,886 YES - - 361,886 - 361,886
11 Washington.................................................................................. 3,792 - 3,792 YES - - 3,792 - 3,792
12 Wyoming...................................................................................... 1,286,960 - 1,286,960 YES - 1,286,960 - 1,286,960
13 Nevada........................................................................................ 277,682 - 277,682 111,736 111,736 389,418 - 389,418
14 Total real and personal property................................................ 9,636,041 10,428,558 20,064,600 (13,120,516) (13,120,516) 6,944,083 - 6,944,083
15 Kilowatt-hour tax- Idaho................................................................ 1,724,862 - 1,724,862 285,628 285,628 2,010,490 - 2,010,490
Idaho other assessments:................................................................
16 Shoshone-Bannock..................................................................... 100,298 - 100,298 3,009 3,009 103,307 - 103,307
17 Idaho Special Assessment........................................................... 12,335 - 12,335 YES - - 12,335 - 12,335
18 Idaho Irrigation Assessment........................................................ 49,083 - 49,083 26,055 26,055 75,138 - 75,138
19 Downtown Boise Association....................................................... 12,113 - 12,113 351 351 12,465 - 12,465
20 Total Idaho other assessments................................................. 173,830 - 173,830 29,415 29,415 203,245 - 203,245
Licenses:
21 Wyoming...................................................................................... 3,735 - 3,735 YES - - 3,735 - 3,735
22 Shoshone-Bannock..................................................................... 150 - 150 YES - - 150 - 150
23 Total licenses............................................................................. 3,885 - 3,885 - - 3,885 - 3,885
Regulatory commission:
24 Idaho............................................................................................ 3,248,611 - 3,248,611 167,863 167,863 3,416,474 - 3,416,474
25 Oregon......................................................................................... 396,875 5,869 402,745 YES - - 402,745 - 402,745
26 Total regulatory commission...................................................... 3,645,487 5,869 3,651,356 167,863 167,863 3,819,219 - 3,819,219
Franchise:
27 Oregon total franchise................................................................. 967,856 - 967,856 YES - - 967,856 - 967,856
28 Nevada Commerce Tax................................................................. 3,778 - 3,778 YES - - 3,778 - 3,778
Unemployment:
29 Idaho............................................................................................ 375,644 - 375,644 YES - - 375,644 - 375,644
30 Oregon......................................................................................... 74,499 - 74,499 YES - - 74,499 - 74,499
31 Total unemployment.................................................................. 450,143 - 450,143 - - 450,143 - 450,143
32 Total state, county and local taxes............................................... 16,605,881 10,434,428 27,040,308 (12,637,610) (12,637,610) 14,402,699 - 14,402,699
33 Total other taxes.............................................................................. 38,375,358 10,434,428 48,809,785 (12,637,610) (12,637,610) 36,172,176 - 36,172,176
34 Less: State & Fed P/R Loading Reversal...................................... (22,219,620) - (22,219,620) - - (22,219,620) - (22,219,620)
35 Net other taxes................................................................................. $ 16,155,738 $ 10,434,428 $ 26,590,166 $ (12,637,610) $ (12,637,610) H $ 13,952,556 $ - $ 13,952,556
1.) Case No:
2020-CV01-20-14896
2021 -CV01-21-14121
2022- CV02-22-12459
2.) Case No:
2021 -TC- MD 210375N
2022-TC- MD 220409N
2023-TC- MD 230406N
2024-TC- MD 240567N
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 14 of 25

IDAHO POWER COMPANY
STATEMENT OF INCOME
FOR IDAHO ENERGY RESOURCES COMPANY
For Twelve Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Income:
1 BridgerCoalCompany-joint venture.................................................................................................... $2,670,559 $ - $ 2,670,559 $ 1,029,441 $ 1,029,441 $ 3,700,000 $ - $ 3,700,000
2 Bridger Coal Company-overriding royalties.......................................................................................... 185,926 - 185,926 119,158 119,158 305,084 - 305,084
3 Interest and dividend income.................................................................................................................. - - - - - - - -
4 Taxes Other than Income Taxes............................................................................................................ - - - - - - - -
5 Total income........................................................................................................................................ 2,856,485 - 2,856,485 1,148,599 1,148,599 4,005,084 - 4,005,084
Expenses:
6 Operation expense................................................................................................................................. 185,926 - 185,926 119,158 119,158 305,084 - 305,084
7 Income taxes.......................................................................................................................................... 349,244 - 349,244 317,850 317,850 667,094 - 667,094
8 Provision for deferred income taxes....................................................................................................... - - - - - - - -
9 Intercompany interest expense............................................................................................................... 670,133 - 670,133 (146,769) (146,769) 523,364 - 523,364
10 Interest expense..................................................................................................................................... - - - - - - - -
11 Total expenses..................................................................................................................................... 1,205,303 - 1,205,303 290,239 290,239 1,495,542 - 1,495,542
12 Net income from operations...................................................................................................................... 1,651,182 - 1,651,182 858,360 858,360 2,509,542 - 2,509,542
13 Add: Interest expense from notes payable to parent(Net of Tax)............................................................. 529,405 - 529,405 (115,947) (115,947) 413,458 - 413,458
14 Net income (earnings to Idaho Power Company)..................................................................................... $ 2,180,587 $ - $ 2,180,587 $ 742,413 $ 742,413 $ 2,923,000 $ - $ 2,923,000
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 15 of 25

IDAHO POWER COMPANY
ALLOWANCE FOR FUNDS USED DURING CONSTRUCTION (AFUDC) RELATED TO HELLS CANYON RELICENSING COLLECTED FROM CUSTOMERS
For Twelve Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
1 AFUDC related to Hells Canyon relicensing collected............................................. $ 8,803,453 $ 8,803,453 $ 29,708,787 $ 29,708,787 $ 38,512,240 $ - $ 38,512,240
2 Total AFUDC related to Hells Canyon Relicensing Collected............................. 8,803,453 - 8,803,453 29,708,787 29,708,787 J 38,512,240 - 38,512,240
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 16 of 25

IDAHO POWER COMPANY
ELECTRIC PLANT IN SERVICE(Excluding ARO Entries)
For The Thirteen Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Month Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
1 December,2023....................................... $7,253,523,908 $ (682,456,340) $ 6,571,067,568 $ 668,174,664 $ 668,174,664 $ 7,239,242,232 $ - $ 7,239,242,232
2 January,2024........................................... 7,261,008,211 (683,158,325) 6,577,849,886 668,975,268 668,975,268 7,246,825,154 - 7,246,825,154
3 February.................................................... 7,281,089,230 (683,410,527) 6,597,678,703 668,710,217 668,710,217 7,266,388,921 - 7,266,388,921
4 March........................................................ 7,314,551,002 (683,224,843) 6,631,326,159 686,603,390 686,603,390 7,317,929,549 - 7,317,929,549
5 April........................................................... 7,346,754,348 (684,054,568) 6,662,699,780 681,895,464 681,895,464 7,344,595,244 - 7,344,595,244
6 May........................................................... 7,368,957,017 (685,721,479) 6,683,235,538 688,656,191 688,656,191 7,371,891,729 - 7,371,891,729
7 June.......................................................... 7,439,306,458 (686,882,427) 6,752,424,031 801,368,757 801,368,757 7,553,792,788 - 7,553,792,788
8 July 7,453,808,548 (687,093,667) 6,766,714,881 815,544,803 815,544,803 7,582,259,684 - 7,582,259,684
9 August....................................................... 7,473,268,183 (687,397,313) 6,785,870,870 815,486,227 815,486,227 7,601,357,096 - 7,601,357,096
10 September................................................ 7,633,287,972 (688,139,793) 6,945,148,179 694,057,235 694,057,235 7,639,205,414 - 7,639,205,414
11 October 7,638,776,787 (682,030,510) 6,956,746,277 718,785,498 718,785,498 7,675,531,775 - 7,675,531,775
12 November................................................. 7,794,698,322 (682,774,796) 7,111,923,526 601,215,969 601,215,969 7,713,139,495 - 7,713,139,495
13 December................................................. 7,921,572,421 (682,330,189) 7,239,242,232 587,476,146 587,476,146 7,826,718,378 - 7,826,718,378
14 Average.................................................. $ 7,475.430,954 $ (684,513,444) $ 6,790,917.510 $ 699,765,372 $ 699,765,372 K $ 7,490,682,881 $ - $ 7,490,682,881
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 17 of 25

IDAHO POWER COMPANY
ACCUMULATED PROVISION FOR DEPRECIATION(Excluding ARO Entries)
For The Thirteen Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Month Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
1 December,2023.................................................................. $ 2,661,788,101 $(515,712,988) $ 2,146,075,114 $ 85,572,544 $ 85,572,544 $ 2,231,647,658 $ - $ 2,231,647,658
2 January,2024...................................................................... 2,678,871,692 (520,360,736) 2,158,510,956 83,532,387 83,532,387 2,242,043,343 - 2,242,043,343
3 February............................................................................... 2,695,299,092 (525,018,935) 2,170,280,157 80,943,446 80,943,446 2,251,223,602 - 2,251,223,602
4 March................................................................................... 2,712,324,302 (529,694,661) 2,182,629,641 68,547,487 68,547,487 2,251,177,128 - 2,251,177,128
5 April...................................................................................... 2,725,759,084 (534,353,385) 2,191,405,699 65,775,941 65,775,941 2,257,181,640 - 2,257,181,640
6 May...................................................................................... 2,730,896,402 (539,038,162) 2,191,858,240 73,515,129 73,515,129 2,265,373,369 - 2,265,373,369
7 June..................................................................................... 2,739,590,595 (543,675,558) 2,195,915,037 65,693,663 65,693,663 2,261,608,700 - 2,261,608,700
8 July 2,754,782,429 (548,564,836) 2,206,217,593 62,312,759 62,312,759 2,268,530,352 - 2,268,530,352
9 August.................................................................................. 2,749,715,558 (553,512,769) 2,196,202,789 80,866,581 80,866,581 2,277,069,370 - 2,277,069,370
10 September 2,764,645,556 (558,373,974) 2,206,271,582 72,495,914 72,495,914 2,278,767,496 - 2,278,767,496
11 October 2,780,237,748 (563,229,864) 2,217,007,884 68,332,563 68,332,563 2,285,340,448 - 2,285,340,448
12 November............................................................................. 2,794,263,194 (567,830,475) 2,226,432,718 64,245,541 64,245,541 2,290,678,260 - 2,290,678,260
13 December 2,803,512,514 (571,864,856) 2,231,647,658 50,203,157 50,203,157 2,281,850,815 - 2,281,850,815
14 Average $ 2,737,822,021 $(543,940,861) $ 2,193,881,159 $ 70,925,932 $ 70,925,932 L $ 2,264,807,091 $ - $ 2,264,807,091
Exhibit No.18
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 18 of 25

IDAHO POWER COMPANY
ACCUMULATED PROVISION FOR AMORTIZATION (Excluding ARO Entries)
OF ELECTRIC UTILITY PLANT
For The Thirteen Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Month Actuals Adjustments Base Base Other Adjustment No Test Year Normalizing Test Year
1 December, 2023................................................. $ 44,487,567 $ - $ 44,487,567 $ 6,171,544 $ 6,171,544 $ 50,659,111 $ - $ 50,659,111
2 January, 2024..................................................... 45,071,256 - 45,071,256 6,400,627 6,400,627 51,471,883 - 51,471,883
3 February............................................................. 45,667,196 - 45,667,196 5,831,986 5,831,986 51,499,182 - 51,499,182
4 March................................................................. 46,265,348 - 46,265,348 5,960,568 5,960,568 52,225,916 - 52,225,916
5 April.................................................................... 46,826,190 - 46,826,190 6,196,083 6,196,083 53,022,273 - 53,022,273
6 May.................................................................... 47,427,873 - 47,427,873 6,378,111 6,378,111 53,805,984 - 53,805,984
7 June................................................................... 47,986,943 - 47,986,943 6,640,399 6,640,399 54,627,342 - 54,627,342
8 July..................................................................... 48,614,297 - 48,614,297 6,754,418 6,754,418 55,368,715 - 55,368,715
9 August................................................................ 49,252,545 - 49,252,545 6,944,895 6,944,895 56,197,440 - 56,197,440
10 September.......................................................... 49,902,183 - 49,902,183 7,125,836 7,125,836 57,028,019 - 57,028,019
11 October............................................................... 50,559,376 - 50,559,376 7,149,856 7,149,856 57,709,232 - 57,709,232
12 November........................................................... 49,898,707 - 49,898,707 8,633,031 8,633,031 58,531,738 - 58,531,738
13 December........................................................... 50,659,111 - 50,659,111 5,869,207 5,869,207 56,528,318 - 56,528,318
14 Average........................................................... $ 47,893,738 $ - $ 47,893,738 $ 6,619,735 $ 6,619,735 M $ 54,513,473 $ - $ 54,513,473
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 19 of 25

IDAHO POWER COMPANY
MATERIALS AND SUPPLIES
For The Thirteen Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted Known and 2025
No Description-Account 154& 163 Actuals Adjustments Base Base Other Adjustment No Test Year Normalizing Annualizing Measurable Test Year
1 December, 2023 $ 140,514,582 $ - $ 140,514,582 $ - $ - $ - $ 140,514,582 $ - $ - $ - $ 140,514,582
2 January, 2024 148,233,869 - 148,233,869 - - - 148,233,869 - - - 148,233,869
3 February 152,887,221 - 152,887,221 - - - 152,887,221 - - - 152,887,221
4 March 156,317,173 - 156,317,173 - - - 156,317,173 - - - 156,317,173
5 April 159,897,946 - 159,897,946 - - - 159,897,946 - - - 159,897,946
6 May 160,152,991 - 160,152,991 - - - 160,152,991 - - - 160,152,991
7 June 165,179,843 - 165,179,843 - - - 165,179,843 - - - 165,179,843
8 July 165,621,794 - 165,621,794 - - - 165,621,794 - - - 165,621,794
9 August 170,891,210 - 170,891,210 - - - 170,891,210 - - - 170,891,210
10 September 179,692,817 - 179,692,817 - - - 179,692,817 - - - 179,692,817
11 October 186,283,338 - 186,283,338 - - - 186,283,338 - - - 186,283,338
12 November 197,203,732 (10,853,296) 186,350,436 - - - 186,350,436 - - - 186,350,436
13 December 201,064,421 (10,853,296) 190,211,125 - - - 190,211,125 - - - 190,211,125
14 Average $ 167,995,457 $ (1,669,738) $ 166,325,719 $ - $ - $ - N $ 166,325,719 $ - $ - $ - $ 166,325,719
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 20 of 25

IDAHO POWER COMPANY
OTHER DEFERRED PROGRAMS
At December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Idaho Public Utilities Commission:
Account186
1 American Falls Bond Refinancing - (IPUC Order 25880).............................................. $ 10,426 $ - $ 10,426 $ (10,426) (10,426) $ - $ - $ -
Account182
2 Siemens LTP Rate Base- (IPUC Order 33420)............................................................ 11,563,839 - 11,563,839 (643,866) (643,866) 10,919,972 - 10,919,972
3 Siemens LTP Deferred Rate Base- (IPUC Order 33420)............................................. 7,749,519 - 7,749,519 (431,488) (431,488) 7,318,031 - 7,318,031
4 Cloud Computing - (IPUC Order 34707)........................................................................ 1,322,509 (439,262) 883,247 91,606 91,606 974,853 - 974,853
5 Wildfire Mitigation - (IPUC Order 35077, 35717, 36042)............................................... 40,349,931 - 40,349,931 22,519,724 22,519,724 62,869,655 - 62,869,655
6 Wildfire Mitigation Amort- (IPUC Order 36042)............................................................ 22,867,052 - 22,867,052 (3,811,175) (3,811,175) 19,055,877 - 19,055,877
7 Western Resource Adequacy Program - (IPUC Order 35920)...................................... 635,221 - 635,221 386,558 386,558 1,021,778 - 1,021,778
8 Intervenor Funding - (IPUC Order 36042, 36048).......................................................... 51,057 - 51,057 (51,057) (51,057) - - -
9 Intervenor Funding Amort- (IPUC Order 36042)........................................................... 230,037 - 230,037 (38,340) (38,340) 191,697 - 191,697
Oregon Public Utilities Commission:
Account182
10 CUB Fund Grant- (OPUC Order 24-006)...................................................................... 37,450 - 37,450 (37,450) (37,450) - - -
11 CUB Fund Grant Amort- (OPUC Order 23-185, 24-153).............................................. 26,621 - 26,621 (26,621) (26,621) - - -
12 Siemens LTP Rate Base- (OPUC Order 15-387)......................................................... 432,474 - 432,474 (39,316) (39,316) 393,158 - 393,158
13 Siemens LTP Deferred Rate Base- (OPUC Order 15-387).......................................... 50,456 - 50,456 (44,047) (44,047) 6,410 - 6,410
14 SFAS 87 Capitalized Pension - (OPUC Order 10-064)................................................. 7,230,554 - 7,230,554 133,719 133,719 7,364,273 - 7,364,273
15 Wildfire Mitigation - (OPUC Order 24-010).................................................................... 749,225 - 749,225 YES - - 749,225 - 749,225
Account 254
16 Jim Bridger Plant End-of-Life Depreciation - (OPUC Order 12-296)............................. (2,526,864) - (2,526,864) YES - - (2,526,864) - (2,526,864)
17 Total......................................................................................................................... $ 90,779,507 $ (439,262) $ 90,340,245 $ 17,997,821 $ 17,997,821 O $ 108,338,066 $ - $ 108,338,066
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 21 of 25

IDAHO POWER COMPANY
PLANT HELD FOR FUTURE USE
At December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Description Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
Power Production:
1 American Falls Power Plant............................................................................. $ 104,155 $ (104,155) $ - YES $ - $ - $ - $ - $ -
2 Bennett Mtn Plant Expansion........................................................................... $ 2,053,241 (2,053,241) - YES - - - - -
3 Total Power Production.................................................................................. 2,157,396 (2,157,396) - - - - - -
Distribution:
4 Amity Substation.............................................................................................. 153,751 - 153,751 YES - - 153,751 - 153,751
5 Beacon Light Substation.................................................................................. 204,511 (204,511) - YES - - - - -
6 Dist. Lines, Blaine, ID....................................................................................... 443,545 - 443,545 YES - - 443,545 - 443,545
7 Dist. Lines, Canyon, ID..................................................................................... 25,581 - 25,581 YES - - 25,581 - 25,581
8 Farmway Station.............................................................................................. 947,032 - 947,032 YES - - 947,032 - 947,032
9 Filer Substation................................................................................................ 27,813 - 27,813 YES - - 27,813 - 27,813
10 Highland Substation......................................................................................... 64,224 - 64,224 YES - - 64,224 - 64,224
11 Jump Substation.............................................................................................. 67,722 (67,722) - YES - - - - -
12 Lakeshore Substation....................................................................................... 188,565 - 188,565 YES - - 188,565 - 188,565
13 McDermott Substation..................................................................................... 1,330,604 - 1,330,604 - (1,330,604) - - -
14 Melba Substation............................................................................................. 29,321 - 29,321 YES - - 29,321 - 29,321
15 Northside Substation........................................................................................ 1,315,214 - 1,315,214 YES - - 1,315,214 - 1,315,214
16 Notch Butte Substation.................................................................................... 14,574 - 14,574 YES - - 14,574 - 14,574
17 Pillar Falls Substation....................................................................................... 209,434 - 209,434 - (209,434) - - -
18 State Substation............................................................................................... 117,597 - 117,597 YES - - 117,597 - 117,597
19 Ustick Substation............................................................................................. 19,670 (19,670) - YES - - - - -
20 Wagner Substation.......................................................................................... 91,452 - 91,452 YES - - 91,452 - 91,452
21 Ward Substation.............................................................................................. 243,933 - 243,933 YES - - 243,933 - 243,933
22 Crossroads Substation..................................................................................... 530,994 - 530,994 YES - - 530,994 - 530,994
23 Gem Substation............................................................................................... 525,507 - 525,507 - (53,602) 471,905 - 471,905
24 Greenleaf Substation....................................................................................... 417,939 - 417,939 YES - - 417,939 - 417,939
25 Lake Hazel Substation..................................................................................... 735,297 - 735,297 YES - - 735,297 - 735,297
26 Eisenman Substation....................................................................................... - - - - 1,800,000 1,800,000 - 1,800,000
27 Total Distribution............................................................................................ 7,704,280 (291,903) 7,412,377 - 206,360 7,618,737 - 7,618,737
Transmission:
28 Boise Bench Transmission Station................................................................... 179,904 - 179,904 YES - - 179,904 - 179,904
29 Donnelly McCall Transmission Land R/W........................................................ 67,932 - 67,932 - (574) 67,358 - 67,358
30 Dry Creek Transmission Station....................................................................... 26,671 - 26,671 YES - - 26,671 - 26,671
31 Line#853 500KV............................................................................................. 579,685 - 579,685 YES - - 579,685 - 579,685
32 Line#854 500KV............................................................................................. 308,066 - 308,066 YES - - 308,066 - 308,066
33 Long Valley Transmission Station.................................................................... 22,377 (22,377) - YES - - - - -
34 Mayfield Transmission Station.......................................................................... 220,052 - 220,052 - 2,500,000 2,720,052 - 2,720,052
35 Midpoint Transmission Station.......................................................................... 870,843 (73,257) 797,586 YES - - 797,586 - 797,586
36 Pallette Junction Substation............................................................................. 778,595 - 778,595 YES - - 778,595 - 778,595
37 Pingree Substation........................................................................................... 69,594 - 69,594 YES - - 69,594 - 69,594
38 Sage Transmission Station.............................................................................. 89,977 - 89,977 YES - - 89,977 - 89,977
39 Shellrock Transmission Station........................................................................ 9,918 (9,918) - YES - - - - -
40 Lake Hazel Substation..................................................................................... 125,433 - 125,433 YES - - 125,433 - 125,433
41 Total Transmission......................................................................................... 3,349,047 (105,552) 3,243,495 - 2,499,426 5,742,921 - 5,742,921
42 Total Plant Held for Future Use ................................................................... $ 13,210,723 $ (2,554,851) $ 10,655,872 $ - $ 2,705,786 P $ 13,361,658 $ - $ 13,361,658
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 22 of 25

IDAHO POWER COMPANY
DEFERRED INCOME TAX BALANCES
At December 31, 2025
Balance Change Balance Average
Dec 31, 2024 2025 Dec 31, 2025 2024-2025
ACCOUNT 190 -ACCUM DEF INC TAXES:
004003-CONSTRUCTION ADVANCES 5,902,092 (2,025,564) 3,876,528 4,889,310
005010-POSTEMPLOYMENT BENEFITS 559,581 92,069 651,650 605,616
005026-USBR AMERICAN FALLS O&M COSTS 157,337 35,448 192,785 175,061
005033-NON VEBA PENSION AND BENEFITS (1,028,744) (108,707) (1,137,452) (1,083,098)
005064-BRIDGER REVENUE DEFERRAL 817,132 (174,996) 642,136 729,634
005073-OR RECONNECT FEES ADV 4,496 (4,496) 0 2,248
005531-RATE CASE DISALLOWANCES AMORTIZATION 734,348 (74,161) 660,187 697,268
008001-VEBA POST-RETIREMENT BENEFITS 12,521,626 377,142 12,898,768 12,710,197
008013-ANNUALIZED BOOK DEPRECIATION 0 (185,870) (185,870) (92,935)
TOTAL 190 19,667,868 (2,069,135) 17,598,733 18,633,301
ACCOUNT 282 -ACCUM DEF INC TAXES -OTHER PROPERTY:
LIBERALIZED DEPR- ELECTRIC PLANT (357,472,551) 20,823,577 (336,648,974) (347,060,763)
TOTAL 282 (357,472,551) 20,823,577 (336,648,974) (347,060,763)
ACCOUNT 283 -ACCUM DEF INC TAXES -OTHER:
004501-ROYALTY INCOME (126,386) 61,113 (65,273) (95,830)
005008-GAIN/LOSS ON REACQUIRED DEBT (78,028) 48,456 (29,571) (53,799)
005045-WILDFIRE MITIGATION 35077 DEFERRAL (16,272,052) (4,682,563) (20,954,614) (18,613,333)
005057-INTERVENOR FUNDING ORDERS (88,664) 23,187 (65,477) (77,071)
008081-SIEMENS LTP CONTRACT (162,130) (16,738) (178,868) (170,499)
008083-SIEMENS OR DRB INTEREST RESERVE 64,042 6,963 71,005 67,524
TOTAL 283 (16,663,217) (4,559,582) (21,222,799) (18,943,008)
TOTAL DEFERRED TAX BALANCES (354,467,900) 14,194,860 (340,273,040) (347,370,470)
Deferred Tax Expense without ITC -410 /411 (14,194,860)
PAC LIKE (221,700)
ITC Deferred Tax Expense -411.4 50,890,271 Excludes ADITC
Total Deferred Tax Expense 36,473,711
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 23 of 25

IDAHO POWER COMPANY
CUSTOMER ADVANCES FOR CONSTRUCTION
For The Thirteen Months Ended December 31, 2025
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Methodology 2025
Line 2024 2024 2024 2024 Ref Unadjusted 2025
No Month Actuals Adjustments Base Base Other Adjustment No Test Year Annualizing Test Year
1 December, 2023............................................................................ $ 37,489,823 $ (10,000,000) $ 27,489,823 $ (615,037) $ (615,037) $ 26,874,786 $ - $ 26,874,786
2 January, 2024............................................................................... 37,848,281 (10,000,000) 27,848,281 (1,277,074) (1,277,074) 26,571,207 - 26,571,207
3 February....................................................................................... 39,796,731 (10,000,000) 29,796,731 (3,879,149) (3,879,149) 25,917,582 - 25,917,582
4 March............................................................................................ 43,026,865 (10,000,000) 33,026,865 (7,966,523) (7,966,523) 25,060,342 - 25,060,342
5 April.............................................................................................. 47,727,652 (10,000,000) 37,727,652 (14,577,545) (14,577,545) 23,150,107 - 23,150,107
6 May............................................................................................... 48,166,256 (10,000,000) 38,166,256 (15,510,318) (15,510,318) 22,655,938 - 22,655,938
7 June.............................................................................................. 48,698,812 (10,000,000) 38,698,812 (17,080,170) (17,080,170) 21,618,642 - 21,618,642
8 July............................................................................................... 54,979,117 (10,000,000) 44,979,117 (24,657,217) (24,657,217) 20,321,900 - 20,321,900
9 August........................................................................................... 56,512,778 (10,000,000) 46,512,778 (27,910,727) (27,910,727) 18,602,051 - 18,602,051
10 September.................................................................................... 56,277,252 (10,000,000) 46,277,252 (27,447,586) (27,447,586) 18,829,666 - 18,829,666
11 October......................................................................................... 56,457,713 (10,000,000) 46,457,713 (27,742,495) (27,742,495) 18,715,218 - 18,715,218
12 November..................................................................................... 57,538,068 (10,000,000) 47,538,068 (28,765,632) (28,765,632) 18,772,436 - 18,772,436
13 December..................................................................................... 58,546,387 (10,000,000) 48,546,387 (29,428,381) (29,428,381) 19,118,006 - 19,118,006
14 Average..................................................................................... $ 49,466,595 $ (10,000,000) $ 39,466,595 $ (17,450,604) $ (17,450,604) Q $ 22,015,991 $ - $ 22,015,991
1.) B2H Seller's Security from BPA.
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 24 of 25

IDAHO POWER COMPANY
IERCo-SUBSIDIARY RATE BASE COMPONENTS
For The Thirteen Months Ended December 31, 2025
(1) (2) (3) (4)
2024 2025 2024 2025 2024 2025 2024 2025
Advance Advance Notes Notes
Line Coal Coal Receivable from Receivable from Ref
No Month Investment Change Investment Royalties Change Royalties Subsidiary Change Subsidiary Total Change No Total
1 December, 2023................ $ 22,725,506 $1,651,182 $24,376,688 $ 491,010 $ (185,926) $305,084 $ 13,778,220 $1,065,931 $14,844,151 $36,994,736 $2,531,187 $39,525,923
2 January, 2024.................... 22,879,020 1,732,922 24,611,942 471,964 (195,250) $276,715 9,482,975 4,048,175 13,531,150 32,833,959 5,585,847 38,419,806
3 February............................ 22,993,011 1,789,276 24,782,287 454,490 (206,144) $248,345 8,723,407 4,208,247 12,931,653 32,170,908 5,791,378 37,962,286
4 March................................. 23,107,469 1,815,607 24,923,076 440,400 (220,424) $219,976 7,662,003 6,287,189 13,949,192 31,209,872 7,882,372 39,092,244
5 April................................... 23,187,572 1,840,284 25,027,856 426,851 (235,244) $191,607 10,160,083 5,825,928 15,986,011 33,774,506 7,430,968 41,205,474
6 May.................................... 23,266,028 1,883,444 25,149,472 415,113 (251,876) $163,238 12,063,903 5,330,190 17,394,093 35,745,044 6,961,759 42,706,803
7 June................................... 23,403,761 1,902,912 25,306,673 401,649 (266,780) $134,869 15,760,145 3,209,175 18,969,320 39,565,555 4,845,307 44,410,861
8 July.................................... 23,589,140 2,049,606 25,638,746 377,457 (270,957) $106,499 17,287,519 440,988 17,728,507 41,254,116 2,219,636 43,473,752
9 August............................... 23,747,884 2,166,985 25,914,869 360,394 (282,264) $78,130 13,111,480 3,278,573 16,390,052 37,219,757 5,163,294 42,383,051
10 September......................... 23,928,500 2,239,761 26,168,261 344,295 (294,534) $49,761 14,387,418 1,578,120 15,965,538 38,660,213 3,523,347 42,183,560
11 October.............................. 24,085,133 2,341,461 26,426,594 360,757 (339,365) $21,392 14,648,654 594,354 15,243,009 39,094,545 2,596,450 41,690,994
12 November.......................... 24,234,492 2,436,393 26,670,885 333,453 (333,453) - 13,003,007 1,168,847 14,171,854 37,570,952 3,271,787 40,842,739
13 December.......................... 24,376,688 2,509,542 26,886,230 305,084 (305,084) - 14,844,151 (693,315) 14,150,836 39,525,923 1,511,144 41,037,066
14 Average.......................... $ 23,501,862 $ 2,027,644 $ 25,529,506 $ 398,686 $ (260,562) $ 138,124 $ 12,685,613 $ 2,795,569 $ 15,481,182 $ 36,586,160 $ 4,562,652 R $ 41,148,812
Exhibit No. 18
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 25 of 25

BEFORE THE
IDAHO PUBLIC UTILITIES COMMISSION
CASE NO. IPC-E-25-16
IDAHO POWER COMPANY
JEPPSEN , DI
TESTIMONY
EXHIBIT NO. 19

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
GENERAL ADVERTISING EXPENSE (ACCOUNT 930.1)
For Twelve Months Ended December 31, 2025
(1) (2) (3) (4) (5)
Line 2024 2024 2025
No Description Actuals Adjustment Test Year
1 General Advertising Expense........................................................... $ 133,442 $ (133,442) $ -
Exhibit No. 19
Case No. IPC-E-25-16
P. Jeppsen, IPC
Page 1 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
MEMBERSHIPS AND CONTRIBUTIONS
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8)
Actual
Line Acct Contributions Memberships 2024 2024
No No Organization 100% 33.33% 100% Actuals Adjustments
1 536 North American Weather Modification Council............................................................................................................. $ 333 $ 333 $ (333)
2 545 Greater Pine Valley Rangeland Fire Protection Association......................................................................................... 25 25 (25)
3 560 City Club of Boise........................................................................................................................................................ 70 70 (70)
4 560 Western Energy Institute............................................................................................................................................. 4,232 4,232 (4,232)
5 580 City Club of Boise........................................................................................................................................................ 99 99 (99)
6 580 Western Energy Institute............................................................................................................................................. 6,013 6,013 (6,013)
7 588 Electric Power Research Institute................................................................................................................................ 10,416 10,416 (10,416)
8 908 Capital City Kiwanis..................................................................................................................................................... 280 280 (280)
9 908 Donation...................................................................................................................................................................... 26 26 (26)
10 908 Northwest Energy Coalition.......................................................................................................................................... 167 167 (167)
11 921 City Club of Boise........................................................................................................................................................ 15 15 (15)
12 921 Direct Employers Association...................................................................................................................................... 5,000 5,000 (5,000)
13 921 Kiwanis Club Ontario................................................................................................................................................... 60 60 (60)
14 921 Lions Twin Falls........................................................................................................................................................... $ 300 300 (300)
15 921 National Association of Property Tax Representatives-Transportation Energy Communications................................ 50 50 (50)
16 921 Pacific Northwest Utilities Conference Committee....................................................................................................... 571 571 (571)
17 921 Rotary Club Blue Lakes............................................................................................................................................... 204 204 (204)
18 921 Rotary Club Gooding................................................................................................................................................... 45 45 (45)
19 921 Rotary Club Jerome..................................................................................................................................................... 233 233 (233)
20 921 Rotary Club Ketchum................................................................................................................................................... 490 490 (490)
21 921 Rotary Club Nampa..................................................................................................................................................... 240 240 (240)
22 921 Urban Land Institute.................................................................................................................................................... 150 150 (150)
23 921 Western Energy Institute............................................................................................................................................. 891 891 (891)
24 921 Rotary Club Salmon..................................................................................................................................................... 43 43 (43)
25 930 Associated Taxpayers of Idaho.................................................................................................................................... 22,000 22,000 (22,000)
26 930 Association of Idaho Cities........................................................................................................................................... 833 833 (833)
27 930 Bannock Development Corporation............................................................................................................................. $ 1,667 1,667 (1,667)
28 930 Boise Valley Economic Partnership.............................................................................................................................. 5,833 5,833 (5,833)
29 930 Business Plus-Southern Idaho Economic Development Organization........................................................................ 1,667 1,667 (1,667)
30 930 Centre for Energy Advancement through Technological Innovation............................................................................. 9,212 9,212 (9,212)
Exhibit No.19
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 2 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
MEMBERSHIPS AND CONTRIBUTIONS
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8)
Actual
Line Acct Contributions Memberships 2024 2024
No No Organization 100% 33.33% 100% Actuals Adjustments
31 930 Chamber of Commerce Baker City.............................................................................................................................. 358 358 (358)
32 930 Chamber of Commerce Buhl........................................................................................................................................ 208 208 (208)
33 930 Chamber of Commerce Caldwell.................................................................................................................................. 644 644 (644)
34 930 Chamber of Commerce Camas................................................................................................................................... 40 40 (40)
35 930 Chamber of Commerce Carey Picabo.......................................................................................................................... 10 10 (10)
36 930 Chamber of Commerce Cascade................................................................................................................................. 100 100 (100)
37 930 Chamber of Commerce Council................................................................................................................................... 50 50 (50)
38 930 Chamber of Commerce Donnelly................................................................................................................................. 17 17 (17)
39 930 Chamber of Commerce Eagle...................................................................................................................................... 183 183 (183)
40 930 Chamber of Commerce Fruitland................................................................................................................................. 183 183 (183)
41 930 Chamber of Commerce Garden City............................................................................................................................ 83 83 (83)
42 930 Chamber of Commerce Garden Valley......................................................................................................................... 33 33 (33)
43 930 Chamber of Commerce Gem County........................................................................................................................... 334 334 (334)
44 930 Chamber of Commerce Gooding................................................................................................................................. 47 47 (47)
45 930 Chamber of Commerce Hailey..................................................................................................................................... 158 158 (158)
46 930 Chamber of Commerce Hells Canyon.......................................................................................................................... 27 27 (27)
47 930 Chamber of Commerce Homedale............................................................................................................................... 20 20 (20)
48 930 Chamber of Commerce Horseshoe Bend.................................................................................................................... 134 134 (134)
49 930 Chamber of Commerce Idaho City............................................................................................................................... 83 83 (83)
50 930 Chamber of Commerce Idaho Hispanic....................................................................................................................... 400 400 (400)
51 930 Chamber of Commerce Idaho Veterans....................................................................................................................... 334 334 (334)
52 930 Chamber of Commerce Jerome................................................................................................................................... 250 250 (250)
53 930 Chamber of Commerce Kuna...................................................................................................................................... 666 666 (666)
54 930 Chamber of Commerce McCall.................................................................................................................................... 398 398 (398)
55 930 Chamber of Commerce Melba..................................................................................................................................... 117 117 (117)
56 930 Chamber of Commerce Meridian................................................................................................................................. 383 383 (383)
57 930 Chamber of Commerce Middleton............................................................................................................................... 50 50 (50)
58 930 Chamber of Commerce Mini-Cassia............................................................................................................................ 128 128 (128)
59 930 Chamber of Commerce Mountain Home...................................................................................................................... 385 385 (385)
60 930 Chamber of Commerce Nampa................................................................................................................................... 625 625 (625)
61 930 Chamber of Commerce Nyssa..................................................................................................................................... 50 50 (50)
62 930 Chamber of Commerce Ontario................................................................................................................................... 272 272 (272)
63 930 Chamber of Commerce Payette................................................................................................................................... 92 92 (92)
64 930 Chamber of Commerce Pocatello................................................................................................................................ 788 788 (788)
65 930 Chamber of Commerce Salmon River......................................................................................................................... 42 42 (42)
66 930 Chamber of Commerce Weiser................................................................................................................................... 167 167 (167)
Exhibit No.19
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 3 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
MEMBERSHIPS AND CONTRIBUTIONS
For Twelve Months Ended December 31,2025
(1) (2) (3) (4) (5) (6) (7) (8)
Actual
Line Acct Contributions Memberships 2024 2024
No No Organization 100% 33.33% 100% Actuals Adjustments
67 930 Chartwell...................................................................................................................................................................... 41,224 41,224 (41,224)
68 930 CleanTech Alliance...................................................................................................................................................... 787 787 (787)
69 930 Commercial Club Cambridge....................................................................................................................................... 20 20 (20)
70 930 Downtown Boise Association....................................................................................................................................... 250 250 (250)
71 930 E Source...................................................................................................................................................................... 7,499 7,499 (7,499)
72 930 Eastern Oregon Visitors Association............................................................................................................................ 667 667 (667)
73 930 Edison Electric Institute............................................................................................................................................... 212,087 212,087 (212,087)
74 930 Great Rift Business Development................................................................................................................................ 750 750 (750)
75 930 Idaho Association of Counties...................................................................................................................................... 1,000 1,000 (1,000)
76 930 Idaho Association of General Contractors.................................................................................................................... 900 900 (900)
77 930 Idaho Business for Education...................................................................................................................................... 1,667 1,667 (1,667)
78 930 Idaho Economic Development Association.................................................................................................................. 417 417 (417)
79 930 Idaho Manufacturing Alliance....................................................................................................................................... 500 500 (500)
80 930 Lemhi County Economic Development Association.................................................................................................... 333 333 (333)
81 930 Mountain Home Military Affairs Committee.................................................................................................................. 67 67 (67)
82 930 National Association of Corporate Directors................................................................................................................. 4,044 4,044 (4,044)
83 930 National Association of Industrial and Office Properties............................................................................................... 343 343 (343)
84 930 North American Energy Standards Board.................................................................................................................... 2,667 2,667 (2,667)
85 930 Northwest Gas Association.......................................................................................................................................... 3,333 3,333 (3,333)
86 930 Pacific Northwest Utilities Conference Committee....................................................................................................... 33,642 33,642 (33,642)
87 930 Regional Economic Development for Eastern Idaho.................................................................................................... 667 667 (667)
88 930 Rotary Club Twin Falls................................................................................................................................................. 270 270 (270)
89 930 Snake River Economic Development Alliance.............................................................................................................. 916 916 (916)
90 930 Sustain Blaine Incorporated......................................................................................................................................... 833 833 (833)
91 930 Western Alliance for Economic Development............................................................................................................... 500 500 (500)
92 930 Wyoming Taxpayers Association................................................................................................................................. 1,600 1,600 (1,600)
93 930 Oregon State University Utility Pole Research Cooperative......................................................................................... 5,000 5,000 (5,000)
94 930 Leadership Idaho Agriculture....................................................................................................................................... 1,300 1,300 (1,300)
95 930 Industrial Asset Management Council.......................................................................................................................... 390 390 (390)
96 930 Idaho Advanced Energy............................................................................................................................................... 833 833 (833)
97 935 Utilities Technology Council......................................................................................................................................... 7,342 7,342 (7,342)
Total....................................................................................................................................................................... $ 26 $ 387,196 $ 23,650 $ 410,872 $ (410,872)
Exhibit No.19
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 4 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
ADJUSTMENT TO MANAGEMENT EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4)
2024 2024
No Name Actuals Adjustments
1 Ryan Adelman
2 Total Expenses $ 10,952
3 IDACORP Exclusions Requiring Special Treatment(Listed Below):
4 Arid Club...................................................................................... -
5 EEI...............................................................................................
6 Oregon Direct Charges................................................................ -
7 Total.......................................................................................... 10,952
8 Payroll Percentage Allocated to IDACORP.................................. 0.00%
9 Net IDACORP Exclusions -
10 Other Exclusions:
11 Arid Club(100%Per IPUC Order 29505).....................................
12 Oregon-Direct Allocation(100%)................................................
13 EEI(1/3 Per IPUC Order 29505)..................................................
14 Total Exclusions $ - $
15 Brian Buckham
16 Total Expenses $ 43,877
17 IDACORP Exclusions Requiring Special Treatment(Listed Below):
18 Arid Club...................................................................................... -
19 EEI............................................................................................... (6,364)
20 Oregon Direct Charges................................................................ -
21 Total.......................................................................................... 37,513
22 Payroll Percentage Allocated to IDACORP.................................. 1.00%
23 Net IDACORP Exclusions 375
24 Other Exclusions:
25 Arid Club(100%Per IPUC Order 29505)..................................... -
26 Oregon-Direct Allocation(100%)................................................ -
27 EEI(1/3 Per IPUC Order 29505).................................................. 2,124
28 Total Exclusions $ 2,499 $ (2,499)
29 Mitch Colburn
30 Total Expenses $ 4,241
31 IDACORP Exclusions Requiring Special Treatment(Listed Below):
32 Arid Club...................................................................................... -
33 EEI...............................................................................................
34 Oregon Direct Charges................................................................ -
35 Total.......................................................................................... 4,241
36 Payroll Percentage Allocated to IDACORP.................................. 0.00%
37 Net IDACORP Exclusions -
38 Other Exclusions:
39 Arid Club(100%Per IPUC Order 29505).....................................
40 Oregon-Direct Allocation(100%)................................................
41 EEI(1/3 Per IPUC Order 29505)..................................................
42 Total Exclusions $ - $
43 Sarah Griffin
44 Total Expenses $ 6,420
Exhibit No.19
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 5 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
ADJUSTMENT TO MANAGEMENT EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4)
2024 2024
No Name Actuals Adjustments
45 IDACORP Exclusions Requiring Special Treatment(Listed Below):
46 Arid Club......................................................................................
47 EEI...............................................................................................
48 Oregon Direct Charges................................................................ -
49 Total.......................................................................................... 6,420
50 Payroll Percentage Allocated to IDACORP.................................. 0.62%
51 Net IDACORP Exclusions 40
52 Other Exclusions:
53 Arid Club(100%Per IPUC Order 29505)..................................... -
54 Oregon-Direct Allocation(100%)................................................
55 EEI(1/3 Per IPUC Order 29505)..................................................
56 Total Exclusions $ 40 $ (40)
57 Lisa Grow
58 Total Expenses $ 40,442
59 IDACORP Exclusions Requiring Special Treatment(Listed Below):
60 Arid Club...................................................................................... (1,800)
61 EEI............................................................................................... (9,593)
62 Oregon Direct Charges................................................................ -
63 Total.......................................................................................... 29,049
64 Payroll Percentage Allocated to IDACORP.................................. 1.00%
65 Net IDACORP Exclusions 290
66 Other Exclusions:
67 Arid Club(100%Per IPUC Order 29505)..................................... 1,800
68 Oregon-Direct Allocation(100%)................................................ -
69 EEI(1/3 Per IPUC Order 29505).................................................. 3,198
70 Total Exclusions $ 5,288 $ (5,288)
71 Bo Hanchey
72 Total Expenses $ 11,727
73 IDACORP Exclusions Requiring Special Treatment(Listed Below):
74 Arid Club...................................................................................... -
75 EEI............................................................................................... (417)
76 Oregon Direct Charges................................................................ -
77 Total.......................................................................................... 11,311
78 Payroll Percentage Allocated to IDACORP.................................. 0.00%
79 Net IDACORP Exclusions -
80 Other Exclusions:
81 Arid Club(100%Per IPUC Order 29505).....................................
82 Oregon-Direct Allocation(100%)................................................ -
83 EEI(1/3 Per IPUC Order 29505).................................................. 139
84 Total Exclusions $ 139 $ (139)
85 Patrick Harrington
86 Total Expenses $ 4,060
87 IDACORP Exclusions Requiring Special Treatment(Listed Below):
88 Arid Club...................................................................................... -
89 EEI...............................................................................................
Exhibit No.19
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 6 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
ADJUSTMENT TO MANAGEMENT EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4)
2024 2024
No Name Actuals Adjustments
90 Oregon Direct Charges................................................................ -
91 Total.......................................................................................... 4,060
92 Payroll Percentage Allocated to IDACORP.................................. 0.11%
93 Net IDACORP Exclusions 4
94 Other Exclusions:
95 Arid Club(100%Per IPUC Order 29505)..................................... -
96 Oregon-Direct Allocation(100%)................................................
97 EEI(1/3 Per IPUC Order 29505).................................................. -
98 Total Exclusions $ 4 $ (4)
99 Julia Hilton
100 Total Expenses $ 12,141
101 IDACORP Exclusions Requiring Special Treatment(Listed Below):
102 Arid Club...................................................................................... -
103 EEI............................................................................................... (5,490)
104 Oregon Direct Charges................................................................ -
105 Total.......................................................................................... 6,651
106 Payroll Percentage Allocated to IDACORP.................................. 0.73%
107 Net IDACORP Exclusions 49
108 Other Exclusions:
109 Arid Club(100%Per IPUC Order 29505)..................................... -
110 Oregon-Direct Allocation(100%)................................................ -
111 EEI(1/3 Per IPUC Order 29505).................................................. 1,830
112 Total Exclusions $ 1,879 $ (1,879)
113 Jason Huszar
114 Total Expenses $ 802
115 IDACORP Exclusions Requiring Special Treatment(Listed Below):
116 Arid Club...................................................................................... -
117 EEI...............................................................................................
118 Oregon Direct Charges................................................................ -
119 Total.......................................................................................... 802
120 Payroll Percentage Allocated to IDACORP.................................. 0.02%
121 Net IDACORP Exclusions -
122 Other Exclusions:
123 Arid Club(100%Per IPUC Order 29505).....................................
124 Oregon-Direct Allocation(100%)................................................
125 EEI(1/3 Per IPUC Order 29505)..................................................
126 Total Exclusions $ - $
127 Debra Leithauser
128 Total Expenses $ 683
129 IDACORP Exclusions Requiring Special Treatment(Listed Below):
130 Arid Club...................................................................................... -
131 EEI...............................................................................................
132 Oregon Direct Charges................................................................ -
133 Total.......................................................................................... 683
134 Payroll Percentage Allocated to IDACORP.................................. 1.00%
Exhibit No.19
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 7 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
ADJUSTMENT TO MANAGEMENT EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4)
2024 2024
No Name Actuals Adjustments
135 Net IDACORP Exclusions 7
136 Other Exclusions:
137 Arid Club(100%Per IPUC Order 29505)..................................... -
138 Oregon-Direct Allocation(100%)................................................
139 EEI(1/3 Per IPUC Order 29505).................................................. -
140 Total Exclusions $ 7 $ (7)
141 Jeff Malmen
142 Total Expenses $ 933
143 IDACORP Exclusions Requiring Special Treatment(Listed Below):
144 Arid Club...................................................................................... -
145 EEI...............................................................................................
146 Oregon Direct Charges................................................................ -
147 Total.......................................................................................... 933
148 Payroll Percentage Allocated to IDACORP.................................. 25.00%
149 Net IDACORP Exclusions 233
150 Other Exclusions:
151 Arid Club(100%Per IPUC Order 29505)..................................... -
152 Oregon-Direct Allocation(100%)................................................
153 EEI(1/3 Per IPUC Order 29505).................................................. -
154 Total Exclusions $ 233 $ (233)
155 Ken Petersen
156 Total Expenses $ 120
157 IDACORP Exclusions Requiring Special Treatment(Listed Below):
158 Arid Club...................................................................................... -
159 EEI...............................................................................................
160 Oregon Direct Charges................................................................ -
161 Total.......................................................................................... 120
162 Payroll Percentage Allocated to IDACORP.................................. 0.07%
163 Net IDACORP Exclusions -
164 Other Exclusions:
165 Arid Club(100%Per IPUC Order 29505).....................................
166 Oregon-Direct Allocation(100%)................................................
167 EEI(1/3 Per IPUC Order 29505)..................................................
168 Total Exclusions $ - $
169 Adam Richins
170 Total Expenses $ 19,791
171 IDACORP Exclusions Requiring Special Treatment(Listed Below):
172 Arid Club...................................................................................... -
173 EEI............................................................................................... (5,004)
174 Oregon Direct Charges................................................................ -
175 Total.......................................................................................... 14,787
176 Payroll Percentage Allocated to IDACORP.................................. 0.08%
177 Net IDACORP Exclusions 12
178 Other Exclusions:
179 Arid Club(100%Per IPUC Order 29505)..................................... -
Exhibit No.19
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 8 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
ADJUSTMENT TO MANAGEMENT EXPENSES
For Twelve Months Ended December 31,2025
(1) (2) (3) (4)
2024 2024
No Name Actuals Adjustments
180 Oregon-Direct Allocation(100%)................................................ -
181 EEI(1/3 Per IPUC Order 29505).................................................. 1,667
182 Total Exclusions $ 1,679 $ (1,679)
183 Amy Shaw
184 Total Expenses $ 47,476
185 IDACORP Exclusions Requiring Special Treatment(Listed Below):
186 Arid Club...................................................................................... -
187 EEI............................................................................................... (12,839)
188 Oregon Direct Charges................................................................ -
189 Total.......................................................................................... 34,637
190 Payroll Percentage Allocated to IDACORP.................................. 0.50%
191 Net IDACORP Exclusions 173
192 Other Exclusions:
193 Arid Club(100%Per IPUC Order 29505)..................................... -
194 Oregon-Direct Allocation(100%)................................................ -
195 EEI(1/3 Per IPUC Order 29505).................................................. 4,283
196 Total Exclusions $ 4,456 $ (4,456)
197 Tim Tatum
198 Total Expenses $ 6,171
199 IDACORP Exclusions Requiring Special Treatment(Listed Below):
200 Arid Club...................................................................................... -
201 EEI...............................................................................................
202 Oregon Direct Charges................................................................ -
203 Total.......................................................................................... 6,171
204 Payroll Percentage Allocated to IDACORP.................................. 0.00%
205 Net IDACORP Exclusions -
206 Other Exclusions:
207 Arid Club(100%Per IPUC Order 29505).....................................
208 Oregon-Direct Allocation(100%)................................................
209 EEI(1/3 Per IPUC Order 29505)..................................................
210 Total Exclusions $ - $ -
211 Total Reduction to Officer's Expenses $ 16,224 $ (16,224)
Exhibit No.19
Case No.IPC-E-25-16
P.Jeppsen,IPC
Page 9 of 10

IDAHO POWER COMPANY
DEDUCTIONS FROM OPERATION AND MAINTENANCE EXPENSES
OTHER EXCLUSIONS
For Twelve Months Ended December 31,2025
(1) (2) (3) (4)
2024 2024
Account Actuals Adjustments
1 536 $ 70 $ (70)
2 562 4 (4)
3 570 4 (4)
4 580 207 (207)
5 582 4 (4)
6 583 628 (628)
7 588 106 (106)
8 592 4 (4)
9 901 414 (414)
10 903 26 (26)
11 908 11 (11)
12 921 4,859 (4,859)
13 926 34 (34)
14 930 86,828 (86,828)
15 Total $ 93,199 $ (93,199)
Exhibit No. 19
Case No. IPC-E-25-16
P.Jeppsen, IPC
Page 10 of 10