20260504Notice_of_Application_Order_No_37028.pdf

Office of the Secretary
Service Date
May 4,2026
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
IN THE MATTER OF IDAHO POWER ) CASE NO. IPC-E-26-10
COMPANY'S APPLICATION FOR )
AUTHORITY TO IMPLEMENT POWER ) NOTICE OF APPLICATION
COST ADJUSTMENT ("PCA") RATES FOR )
ELECTRIC SERVICE FROM JUNE 1, 2026 ) NOTICE OF MODIFIED
THROUGH MAY 31, 2027 ) PROCEDURE
ORDER NO. 37028
On April 15, 2026, Idaho Power Company ("Company") applied to the Idaho Public
Utilities Commission ("Commission") requesting an order approving an update to Schedule 55
("Application") based on: (1) the quantification of the 2026-2027 Power Cost Adjustment
("PCA");(2)the PCA Balancing Adjustment;and(3)the Idaho jurisdictional Boardman Balancing
Account over-collection, to become effective June 1, 2026 for the period of June 1, 2026,through
May 31, 2027. Application at 17. The Company states that if approved,the Application will result
in a revenue increase of approximately $51.6 million, or a 3.02% increase from its current billed
revenue. Id. at 2.
The Commission now issues this Notice of Application and Notice of Modified Procedure
establishing written comment deadlines.
BACKGROUND
The PCA mechanism permits the Company to increase or decrease its PCA rates to reflect
the Company's annual "power supply costs." Due to its diverse generation portfolio, the
Company's actual cost of providing electricity varies from year to year depending on changes in
such things as the river streamflow, the amount of purchased power, fuel costs, the market price
of power, and other factors. The annual PCA surcharge or credit is combined with the Company's
"base rates"to produce a customer's overall energy rate.
The PCA quantifies and tracks annual differences between actual Net Power Supply
Expenses("NPSE")and the normalized or"base level"of NPSE recovered in the Company's base
rates, resulting in a credit or surcharge that is updated annually on June 1. The PCA mechanism
uses a 12-month test period from April through March ("PCA Year") and includes a forecast
component and a Balancing Adjustment. The forecast component represents the difference
NOTICE OF APPLICATION
NOTICE OF MODIFIED PROCEDURE
ORDER NO. 37028 1

between the Company's NPSE forecast from the March Operating Plan and base level NPSE
recovered in the Company's base rates. The Balancing Adjustment includes a backward-looking
tracking of differences between the prior PCA Year's forecast and actual NPSE incurred by the
Company and also tracks the collection of the prior year's Balancing Adjustment.
Except for Public Utility Regulatory Policies Act of 1978 ("PURPA") expenses and
demand response incentive payments, the PCA allows the Company to pass through to customers
95 percent of the annual differences in actual NPSE as compared with base level NPSE, whether
positive or negative. With respect to PURPA expenses and demand response incentive payments
and actual annual expenses deviate from base level NPSE, the Company is allowed to pass 100
percent of the difference for recovery or credit through the PCA. The PCA is also the rate
mechanism used by the Company to provide customer benefits resulting from the revenue sharing
mechanism, approved by the Commission in Order No. 34071.
NOTICE OF APPLICATION
YOU ARE HEREBY NOTIFIED that the Company represents that if approved, the
proposed 2026-2027 PCA rates would collect $86.8 million in total PCA collection. Application
at 13.
YOU ARE FURTHER NOTIFIED that the Company represents that Table 2 shows the
separation of the$51.6 million revenue increase that would occur if the 2026-2027 PCA rates were
approved into each component included in the Company's proposed rates:
Table 2 Idaho Jurisdictional Revenue Impact by Component
Line
No. Rate Component 2025-2026 PCA 2026-2027 PCA Difference
1 PCA Forecast $ 88,931,875 $ 165,106,470 $ 76,174,596
2 PCA Balancing Adjustment $ (53,722,317) $ (78,340,926)18 $ (24,618,609)
3 PCA Total $ 35,209,558 $ 86,765,544 $ 51,555,987
4 Revenue Sharing $ 0 $ 0 $ 0
5 Total Revenue Impact $ 35,209,558 $ 86,765,544 $ 51,555,987
Id. at 13-14.
YOU ARE FURTHER NOTIFIED that the Company represents that the increase in this
year's PCA is due to an increase in the PCA's forecast component, which shows a 16% decrease
in"forecast hydro generation" compared to the previous PCA year.Id. at 14.
NOTICE OF APPLICATION
NOTICE OF MODIFIED PROCEDURE
ORDER NO. 37028 2

YOU ARE FURTHER NOTIFIED that the Company represents that a decrease to the
Balancing Adjustment partially offset this year's PCA. Id. The Company represents that the
decrease to the Balancing Adjustment was due to increased Renewable Energy Credit sales, the
Sales-Based Adjustment, and because the over-collected amount of $3,279,207 from the Idaho
jurisdictional Boardman Balancing Account was included in the Balancing Adjustment.Id.
YOU ARE FURTHER NOTIFIED that the Company represents that the Idaho
jurisdictional Boardman Balancing Account was established in Commission Order No. 32457 in
Case No. IPC-E-11-18 and allowed the Company to track and reconcile revenue from customers
with the costs and credits related to the early closure of the Boardman Power Plant. Id. at 11-12.
The Company represents that all activities related to the closure of the Boardman Power Plant are
completed and that Table 1 summarizes the total Idaho jurisdiction over-collected amount:
Table 1
Idaho Jurisdictional Boardman Balancing Account
Line No.
1 Decommissioning Costs $ 3,108,402
2 Materials and Supplies Write-off $ 920,138
3 Total Decommissioning Expenditures $ 4,028,540
4 Collection of Costs $ (5,116,957)
5 Load Variance True-Up $ (3,950)
6 Asset Purchase Agreement Proceeds $ (2,186,840)
7 Under(Over)Collection $ (3,279,207)
Id. at 14.
YOU ARE FURTHER NOTIFIED that the Company's Application and testimony,
exhibits,customer notice,press release,and direct mail postcard are available for public inspection
during regular business hours at the Commission's office. The Application is also available on the
Commission's website at www.puc.idaho.gov. Click on the "ELECTRIC" icon, select "Open
Cases," and click on the case number as shown on the front of this document.
YOU ARE FURTHER NOTIFIED that all proceedings in this case will be held pursuant
to the Commission's jurisdiction under Title 61 of the Idaho Code, and that all proceedings in this
matter will be conducted pursuant to the Commission's Rules of Procedure, IDAPA 31.01.01.000
et seq.
NOTICE OF APPLICATION
NOTICE OF MODIFIED PROCEDURE
ORDER NO. 37028 3

NOTICE OF MODIFIED PROCEDURE
YOU ARE FURTHER NOTIFIED that the Commission has determined that the public
interest may not require a formal hearing in this matter, and that it will proceed under Modified
Procedure pursuant to the Commission's Rules of Procedure 201-204, IDAPA 31.01.01.201-.204.
The Commission notes that Modified Procedure and written comments have proven to be an
effective means for obtaining public input and participation.
YOU ARE FURTHER NOTIFIED that persons desiring to state a position on this
Application may file a written comment explaining why the person supports or opposes the
Application. Persons who would like a hearing must specifically request a hearing in their written
comments and explain why written comments alone are insufficient. Persons interested in filing
written comments, must do so by May 19, 2026. Comments must be filed through the
Commission's website or by e-mail unless computer access is unavailable. To comment
electronically, please access the Commission's website at http://www.puc.idaho.gov/. Click the
"Case Comment Form" and complete the form using the case number as it appears on the front of
this document.
To file by e-mail,persons must e-mail the comments to the Commission Secretary and all
parties at the e-mail addresses listed below. Persons submitting a comment by e-mail must provide
their name, address, and the Case Number under which they are commenting. Persons submitting
a comment by e-mail also acknowledge that submitting a comment in an open case constitutes a
public record under Idaho Code § 74-101(13), and all information provided by such person is
available for public and media inspection.
If computer access is unavailable, then comments may be mailed to the Commission and
the Parties at the addresses below.Persons submitting a comment by mail must provide their name,
address, and the Case Number under which they are commenting. Persons submitting a comment
by mail also acknowledge that submitting a comment in an open case constitutes a public record
under Idaho Code§ 74-101(13),and all information provided by such person is available for public
and media inspection.
NOTICE OF APPLICATION
NOTICE OF MODIFIED PROCEDURE
ORDER NO. 37028 4

For the Idaho Public Utilities For the Company:
Commission:
Commission Secretary Megan Goicochea Allen
Idaho Public Utilities Commission Lisa C. Lance
P.O. Box 83720 Connie Aschenbrenner
Boise, ID 83720-0074 Timothy E. Tatum
secretgakpuc.idaho. og_v Jessi Brady
1221 West Idaho Street (83702)
P.O. Box 70
Boise, ID 83707
mgoicoecheaallenkidahopower.com
llance(a),idahopower.com
dockets&idahopower.com
caschenbrennergidahopower.com
ttatumkidahopower.com
j bradykidahopower.com
YOU ARE FURTHER NOTIFIED that the Company must file any reply comments by
May 21, 2026.
YOU ARE FURTHER NOTIFIED that if no written comments or protests are received
within the time limit set, the Commission will consider this matter on its merits and enter its final
order without a formal hearing. If written comments are received within the time limit set, the
Commission will consider them and, in its discretion, may set the same for formal hearing.
ORDER
IT IS HEREBY ORDERED that this Application be processed under Modified Procedure.
Persons interested in submitting written comments must do so by May 19, 2026. The Company
must file any reply comments by May 21, 2026.
IT IS FURTHER ORDERED that parties comply with Order No. 35375, issued April 21,
2022. Generally, all pleadings should be filed with the Commission electronically and will be
deemed timely filed when received by the Commission Secretary.See Rule 14.02. Service between
parties should continue to be accomplished electronically when possible. However, voluminous
discovery-related documents may be filed and served on CD-ROM or a USB flash drive.
NOTICE OF APPLICATION
NOTICE OF MODIFIED PROCEDURE
ORDER NO. 37028 5

DONE by Order of the Idaho Public Utilities Commission at Boise, Idaho this 4th day of
May 2026.
G
EDWARD LODGE, PR ,c DENT
JO R. HAMMOND JR., COMMISSIONER
DAYN HAKDIE, COMMISSIONER
ATTEST:
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Monic Ba o nchez
Commission Secretary
L\LegahELECTRIC\IPC-E-26-10_PCA\orders\IPCE2610_ntc_app_mod_1Q.docx
NOTICE OF APPLICATION
NOTICE OF MODIFIED PROCEDURE
ORDER NO. 37028 6