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Home My WebLink About20210315Customer Notice and Press Release.pdfIdaho Power Files Annual Fixed Cost Adjustment Idaho Power has filed the first of two spring cost adjustments with the Idaho Public Utilities Commission (IPUC). This year's annual Fixed Cost Adjustment (FCA) requests an increase of $2,816,643 for residential and small general service customers in Idaho. If the FCA proposal is approved as filed, a typical residential customer using 950 kilowatt-hours per month would see about a $0.37 increase to their monthly bill beginning June 1. The final impact to customer bills won't be known until the second adjustment, the Power Cost Adjustment (PCA), is filed in April. The PCA, if approved, will also become effective June 1. 2020 FCA REVENUE IMPACT BY CLASS Residential 0.38% Small General Service 0.38% Overall Change 0.38% The FCA annually adjusts prices up or down based on actual changes in energy use per customer during the previous year. It is a true-up mechanism that separates energy sales from revenue to eliminate financial disincentives for Idaho Power to invest in demand-side management, which can contribute to use per customer declining. S IDAHO POWER.. "------- An IDACDRP Company ,•?\ 'f•~R 15 P-'1 12: 23 .J_' t li ••• In 2020, Idaho Power's energy efficiency programs saved an incremental 196,809 megawatt hours -the second highest recorded savings year to date and enough energy to power approximately 17,000 average-sized homes for a year. Idaho Power values demand-side management, energy efficiency and education programs, and the FCA mechanism allows us to provide these programs to our residential and small general service customers without negative financial impacts. FCA Background The FCA allows Idaho Power to recover an !PUC-authorized level of fixed costs -costs associated with things like generation plants, power lines and substations -per customer. If the company collects less than the authorized fixed-cost amount, it can collect the difference through a surcharge. If the company collects more than the authorized amount, it refunds the difference to customers through a credit. Both scenarios have happened in the past. Opportunities for Public Review Idaho 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 (11331 W. Chinden Blvd. Building 8, Suite 201-A, Boise, ID 83714), Idaho Power offices or on Idaho 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 Idaho Power's application may be filed with the IPUC. Thank you for reading this notice. We value your business! 91DAHO POWER. An IDACORP Company @) Printed on recycled paper. «:l2021 Idaho Power 31180-1-0125 NEWS RELEASE Idaho Power Files Annual Fixed Cost Adjustment March 15, 2021 B lllAHO POWER® An IDACORP Company BOISE, Idaho -Idaho Power has filed the first of two spring cost adjustments with the Idaho Public Utilities Commission (IPUC). This year's annual Fixed Cost Adjustment (FCA) requests an increase of $2,816,643 for residential and small general service customers in Idaho. If the FCA proposal is approved as filed, a typical residential customer using 950 kilowatt-hours per month would see about a $0.37 increase to their monthly bill beginning June 1. The final impact to customer bills won't be known until the second adjustment, the Power Cost Adjustment (PCA), is filed in April. The PCA, if approved, will also become effective June 1. 2020 FCA Revenue Impact by Class Percentage Change from Current Billed Rates Residential Small General Service 0.38% 0.38% Overall Change 0.38% The FCA annually adjusts prices up or down based on actual changes in energy use per customer during the previous year. It is a true-up mechanism that separates energy sales from revenue to eliminate financial disincentives for Idaho Power to invest in demand-side management, which can contribute to use per customer declining. In 2020, Idaho Power's energy efficiency programs saved an incremental 196,809 megawatt hours - the second-highest recorded savings year to date and enough energy to power approximately 17,000 average-sized homes for a year. Idaho Power values demand-side management, energy efficiency and education programs, and the FCA mechanism allows us to provide these programs to our residential and small general service customers without negative financial impacts. The FCA allows Idaho Power to recover an !PUC-authorized level of fixed costs -costs associated with things like generation plants, power lines and substations -per customer. If the company collects less than the authorized fixed-cost amount, it can collect the difference through a surcharge. If the company collects more than the authorized amount, it refunds the difference to customers through a credit. Both scenarios have happened in the past. Opportunities for Public Review Idaho 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 (11331 W. Chinden Blvd. Building 8, Suite 201-A, Boise, ID 83714), Idaho Power offices or on Idaho 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 Idaho Power's application may be filed with the IPUC. P.O. Box 70 (83707) 1221 W. Idaho St. Boise, ID 83702 About Idaho Power Idaho Power, headquartered in vibrant and fast-growing Boise, Idaho, has been a locally operated energy company since 1916. Today, it serves a 24,000-square-mile area in Idaho and Oregon. The company's goal to provide 100% clean energy by 2045 builds on its long history as a clean-energy leader that provides reliable service at affordable prices. With 17 low-cost hydroelectric projects at the core of its diverse energy mix, Idaho Power's residential, business and agricultural customers pay among the nation's lowest prices for electricity. Its 2,000 employees proudly serve more than 580,000 customers with a culture of safety first, integrity always and respect for all. IDACORP Inc. (NYSE: IDA), Idaho Power's independent publicly traded parent company, is also headquartered in Boise, Idaho. To learn more, visit idahopower.com or idacorpinc.com. Jordan Rodriguez Communications Specialist jrodriguez@idahopower.com 208-388-2460