20140415News Release.pdf

3Iffi*.
An IDACORP Company
NEWS RELEASE
ldaho Power Files 2014 Power Cost Adjustment
Recent improvements in stream flow projections result in o modest PCA increase request.
BOISE, ldaho, April 15, 2OL4 -- Today ldaho Power submitted its annual Power Cost Adjustment
(PCA) proposalfor approva! by the ldaho Public Utilities Commission (!PUC). The PCA is a cost
recovery too! that passes on both the benefits and costs of supplying energy to ldaho Power
customers. Neither ldaho Power nor its shareholders receive any financial return on this filing.
lf the PCA proposal is approved by the IPUC, the price ldaho customers pay for electric service
will increase by S11.1 million, or an overall percentage increase of 1.04 percent from current
prices, beginning June 1. The typical ldaho residential customer using 1,050 kilowatt-hours of
energy per month will see an increase of about 50.57 on their monthly bill. The actual
percentage of change will depend on a customer's group and the rate they pay.
Proposed 2014 Billed Revenue lmpact by Class:
Chanse from Current Prices
Residential Small
General
Service
Large
General
Service
Large
Power
lrrigation Overall
Change
o.s6%o.!5%1.26%2.L7%7.04%1.O4%
ln compliance with a prior IPUC order, this year's PCA request includes an update to base rates
that will provide for an additional Sgg.g million in power supply expense recovery. This base
rate increase wil! be partially offset by an 588.2 million decrease in this year's PCA collection.
The net impact of the base rate increase and the PCA decrease is an increase of S11.1 million.
The company's PCA request includes the benefits of 57.6 million in revenues to be shared with
customers and a proposal to utilize SZO.O million of energy efficiency funds as offsets to power
supply expenses. ldaho Power Vice President of Regulatory Affairs Greg Said pointed out,
"We're seeking to reduce customers' PCA obligation through the use of energy efficiency funds.
This would have no impact on existing and new demand side management services. A full
portfolio of demand response and energy efficiency programs for all customer sectors will
continue to be offered."
P.O. Box 70 {83707)
1221 w. ldaho St.
Boi5e, lD 83702
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ldaho Power Files 2014 Power Cost Adjustment
Page 2 of 2
Why Does ldaho Power Need to lncrease Prices?
Hydroelectric generation for the 2013-2014 PCA year was forecast to be 6.8 million megawatt-
hours (MWh). Actual hydro generation for the time period was 5.7 million MWhs. ln addition to
requiring the company to use more expensive resources to meet customers' needs for
electricity, lower than projected hydroelectric generation also results in lower than projected
surplus sales. When surplus sales are lower, that benefit, which is passed through to customers,
is reduced.
Looking forward, the company's current hydroelectric generation is forecast to be about 86
percent of the normalexpectation, with reservoirs upstream from Brownlee significantly lower
than normal due to persistent dry conditions during 2013 through January 20L4.
ldaho Power's filing is a proposalthat is subject to public review and approval bythe IPUC.
Copies of the application are available to the public at the IPUC offices 1472 W. Washington St.,
Boise, ldaho, 837O2l,ldaho Power offices or on ldaho Power's website, www.idahopower.com
or the IPUC website, www.puc.idaho.gov. Customers also may subscribe to the IPUC's RSS feed
to receive periodic updates via email about the case. Written comments regarding the utility's
application may be filed with the IPUC. You can view additional related materials on the filing at
www. ida hopower.com/rates.
About ldaho Power Company:
tdaho Power, headquartered in Boise, ldaho, and locally operated since 1916, is an electric
utility that employs more than 2,000 people who serve more than 500,000 customers
throughout a 24,000-square-mile area in southern ldaho and eastern Oregon. With 17 low-cost
hydroelectric projects as the core of its diverse generation portfolio, ldaho Power's residential,
business and agricultural customers pay among the nation's lowest rates for electricity.
IDACORP, lnc. (NYSE: IDA), ldaho Power's independent publicly traded parent company, is also
headquartered in Boise, ldaho. To learn more, visit www.idahopower.com or
www.idacorpinc.com.
Contact: Stephanie McCurdy
Com m unication Specialist
ldaho Power
208-388-6973 and SMcCu rdy@ idahopower.com
1-800-458-1443 media line
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