20190308Customer Notice and News Release.pdf

L: 55
ldaho Power Finalizes
Agreement to Cease
Participation in Operations
at Valmy Coal-fired Plant
On lVarch 8, ldaho Power made a filing with the ldaho
Public Utilities Commission (IPUC) requesting approvals
of actions related to the company ceasing operations
at the coal-fired North Valmy power plant (Valmy). ln
cooperation with NV Energy, ldaho Power has finalized
an agreement to end its participation in operations of
Valmy Unit 1 by Dec. 31,2019 and Valmy Unit 2 by
Dec.31,2025.
ln its filing, ldaho Power has asked the IPUC to:
o Approve the North Valmy Prolect Framework
Agreement between NV Energy and ldaho Power
(Agreement) dated Feb. 22,2019. This Agreement
outlines the terms and conditions under which either
party may elect exit of participation in Valmy.
o Find that the company's actual and forecasted
investments at Valmy through the plants remaining
life are allowable for inclusion in customer rates.
. Adjust customer rates to recover the associated
incremental annual levelized revenue requirement of
$1.2 million with an effective date of June 1, 2019.
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An IDACORP Company
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The terms and conditions contained in the Agreement
are consistent with the commitments detailed in the 2017
settlement agreement approved by IPUC Order No. 33771
and will allow ldaho Power to achieve cost savings benefits
for customers of approximately $12.2 million. ln this case,
ldaho Power seeks the IPUC approval required by the
Agreement and to adjust customer rates to align with the
remaining life-cycle costs provided for by that agreement.
lf ldaho Power's request in this matter is approved as filed,
the average ldaho residential customer using 950 kilowatt
hours per month willsee an increase of $0.10, effective
June 1,2019.
0.110/o 0.10o/o 0.11o/o 0.11o/o 0.11o/o
I lncludes Lighting Schedules'? lncludes Special Contracts
Opportunities for Public Review
ldaho Power's filing is a proposal subject to public review
and approval by the IPUC. Copies of the application
are available to the public at the IPUC offices (472 W.
Washington St., Boise, ldaho, 83702), ldaho Power offices
or on ldaho Power's website, idahopower.com, or
the IPUC website, puc.idaho.gov. Customers also may
subscribe to the IPUC's RSS feed to receive periodic updates
via email about the case. Written comments regarding
ldaho Power's application may be filed with the IPUC.
Thank you for reading this notice.
We value your business!
CIMIOPO'I'ER,E Printed on recycled paper
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NEWS RELEASE
ldaho Power Finalizes Agreement to Cease Participation in Operations at Valmy
Coal-fired Plant
BOISE, ldaho - On March 8, ldaho Power made a filing with the ldaho Public Utilities ,
Commission (lPUC) requesting approvals of actions related to the company ceasing operations
at the coal-fired North Valmy power plant (Valmy). ln cooperation with NV Energy, ldaho Power
has finalized an agreement to end its participation in operations of Valmy Unit 1 by Dec. 31,
2019 and Valmy Unit 2 by Dec. 3L,2025.
ln its filing, ldaho Power has asked the IPUC to:- Approve the North Valmy Project Framework Agreement between NV Energy and ldaho
Power (Agreement) dated Feb. 22,20L9. This Agreement outlines the terms and
conditions under which either party may elect exit of participation in Valmy.
- Find that the company's actual and forecasted investments at Valmy through the plant's
remaining life are allowable for inclusion in customer rates.
- Adjust customer rates to recover the associated incremental annual levelized revenue
requirement of S1.2 million with an effective date of Jun e L,2Ot9.
The terms and conditions contained in the Agreement are consistent with the commitments
detailed in the 2017 settlement agreement approved by IPUC Order No. 33771and will allow
ldaho Power to achieve cost savings benefits for customers of approximately 512.2 million. ln
this case, ldaho Power seeks the !PUC approval required by the Agreement and to adjust
customer rates to align with the remaining life-cycle costs provided for by that agreement.
lf ldaho Power's request in this matter is approved as filed, the average ldaho residential
customer using 950 kilowatt hours per month will see an increase of S0.10, effective June 1,
2079.
1 lncludes Lighting Schedules 2 lncludes Special Contracts
Opportunities for Public Review
ldaho Power's filing is a proposal subject to public review and approval by the IPUC. Copies of
the application are available to the public at the IPUC offices (472 W. Washington St., Boise,
PO. Box 70 (83707)
'1221 W. ldaho St.
Boise, lD 83702
Revenue lmpact by Class
Percentage Change from Current Billed Rates
Residential SmallGeneral
Service
Large
Genera!
Servicel
Large
Power2
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Valmy O.LL%O.LOo/o o.L1%O.LL%0.LLo/o
ldaho, 837O2l,ldaho Power offices or on ldaho Power's website, idahopower.com, or the IPUC
website, puc.idaho.gov. Customers also may subscribe to the IPUC's RSS feed to receive
periodic updates via email about the case. Written comments regarding ldaho Power's
application may be filed with the IPUC.
About ldaho Power
ldaho Power, headquartered in Boise, ldaho, and locally operated since 1916, is an energy
company that employs approximately 2,000 people who serve nearly 560,000 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 prices for electricity.
IDACORP lnc. (NYSE: IDA), ldaho Power's independent publicly traded parent company, is also
headquartered in Boise, ldaho. To learn more, visit idahopower.com or idacorpinc.com.
Contact:Jordan Rodriguez
Commu nications Specialist
208-388-2450
[e-mail]
L-800-458-L443 media line