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Home My WebLink About20210603News Release and Customer Notice.pdfeurypPclnER. An IDACORP Company NEWS RELEASE ldaho Power Requests Two Rate Adjustments BOISE, ldaho - ldaho Power has requested two rate adjustments with the ldaho Public Utilities Commission (IPUC) related to depreciation of assets and the company's early exit from the Bridger coal-fired power plant. lf both requests are approved as filed, the average residential customer using 950 kilowatt hours (kwh) of energy per month would see a monthly bill increase of 52.71, effective December L,2OZl. More information about the two filings, which would increase rates 534.5 million in total, is included below: Filing 1: Depreciation Update Results in Rate lncrease Energy companies like ldaho Power recover the cost of their investments in assets over their expected lives through depreciation expense. Every five years, ldaho Power is required to file a study with the IPUC analyzing the expected lives of its assets. Those findings result in changes to rates through adjusted cost recovery of these assets. The study was performed this year and, if approved as filed, ldaho Powe/s rates will increase by Sg.A million on Decembe r L,2O2l.lmpacts to each customer class are included in the table below. Filing 2: Early Exit from Bridger Leads to Short-term lncrease, Long-term Savings ln analyzing the depreciation of its assets, ldaho Power recognized that significant changes in the economic life of the Bridger coa!-fired plant had occurred since the previous study, warranting the need for a specific, separate review. ldaho Powe/s rates currently reflect a recovery timeline through 2034. However, recent analyses indicate the potential for customer savings by exiting all four units at the plant by 2030. This filing seeks to accelerate the recovery of depreciation expense by year-end 2030, and to establish a balancing account to track the incremental costs and benefits associated with ldaho Powe/s exit from coal-fired operations at Bridger. lf approved as filed, rates will increase 530.8 million on December L,2O2L.lmpacts on each customer class are included in the table below. r lncludes lighting schedules; z lncludes special contracts; r Total may not sum due to rounding P.O. Box 70 (83707) t22t W. ldaho 5t. Boiie, lD &1702 Filing Description Revenue Change (millionsl Residential Small General Seruice Large General Seruice r Large Power z lrrigation Depreciation Sg.g o30%o.28%o.32%O.32Yo o.33% Bridger Sgo.a 2.43%2.33%2.62%2s4%3.OL% Combined lmpact r S3a.o 2.72%2.6L%2.94%2.92%3.OLYo Opportunities for Public Review ldaho Power's proposals are subject to public review and approval by the IPUC. Copies of applications are available to the public at IPUC offices (11331 W, Chinden Blvd. Building 8, Suite 2O1-A, Boise, lD 837t4l,ldaho Power offices, or at idahopower.com or 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 Powe/s proposal may be filed with the IPUC. About ldaho Power ldaho Power, headquartered in vibrant and fast-growing Boise, ldaho, has been a locally operated energy company since 1915. Today, it serves a 24,000-square-mile area in ldaho 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, ldaho Powe/s residential, business and agricultural customers pay among the nation's lowest prices for electricity. lts 2,000 employees proudly serve more than 590,000 customers with a culture of safety first, integrity always and respect for all. 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. Jordan Rodriguez Communications Specia list irod risuez@ ida hooower.com 208-388-2460 ldaho Power Requests Two Rate Adjustments ldaho Pcnryer has requested two rate adjustments with the ldaho Public Utilities Commission (PUC) related to depreciation of assets and the company's early exit from the Bridger coal-fired power plant. lf both requests are approred as filed, the arrerage residential customer using 950 kiloruatt hours (kWh) of energy per month would see a monthly bill increase of $2.71, effectine December 1,2021. Here is more information about the two filing, which would increase rates $34.6 million in total. Filing 1: Depreciation Update Results in Rate lncrease Energy companies like ldaho Poruer recover the cost of their investments in assets orrer their expected litcs through depreciation expense. Erery five years, ldaho Pov'rer is required to file a study with the IPUC analyzing the expected lirm of its assets. Those findings resuk in changes to rates through adjusted cost reco\ery ofthese assets. Ttre studywas performed this par and, if apprwed as filed, ldaho Power's rates will increase by $3.8 million on December 1,2021.lmpacts to each customer clas are included in the table on the back of this insert. Filing 2: Early Exit from Bridger Leads to Short-term lncrease, Long-term Savings ln analping the depreciation of is assets, ldaho Poruer recognized that significant changes in the economic life of the Bridger coal-fired plant had occurred since the prwious study, wananting the need for a specific, separate review. ldaho Povver's rates currently reflect a recovery timeline through 2034. Hower,rer, recent analyses indicate the potential for customer savings by exiting all four units at the phnt by 2030. This filing seeks to accelerate the recorrery of depreciation expense by year-end 2030, and to establish a balancing account to track the incremental costs and benefits associated with ldaho Power's exit from coal-fired operations at Bridger. lf approred as filed, rates will increase $30.8 million on December 1,2021.lmpacts on each customer class are included in the table below. Depreciation Bridger $3.8M 0.30% $30.8M 2.43% 0.32o/o 0.32o/o 0.33% 2.620/o 2.600/o 2.680/o 0.28o/o 2,330h lrotandaho'l$rc.eul ztzx I z.or* j z.srx I z.szx i r.orx lll ' lncludes lighting schedules; I lncludes special contrads; I Total may not sum due to rounding Opportunities for Public Review ldaho Povver's proposals are subject to public review and approral by the IPUC. Copies of applications are available to the public at the IPUC offices (11331 W. Chinden Blvd. Building 8, Suite 201-A, Boise, lD 83714),ldaho Power offices, or at idahopower.com or 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 proposal may be filed with the IPUC. Thank you for reading this notice. We value your busrness. SlmtoPrti,l,ER.@ Printed on recycled paper. 02021 ldaho Pmer 31180{-0141An IDACORP ComDany I rr rqit ion Rcvenut SmalllrlrnqDes(ilptron (hanqr Rrsrdrntrnl 6('rx,ril (5 nrllrons) slrvr(e ( nrqr 6rnr'ral 5ct v tr L, L arqrPowtr'