20231228News Release.pdf

Case No. IPC-E-23-11 Order No. 36042 Contact: Adam Rush
Office: [phone]
E-mail: [e-mail] NEWS RELEASE: Commission approves settlement on proposed Idaho Power rate increases.
BOISE (Dec. 28, 2023) – The Idaho Public Utilities Commission has approved a settlement that
will change rates for Idaho Power customers beginning in January. In reaching its decision, the commission determined the settlement attempted to reach a balance between customers’ desires for a smaller rate increase and the utility’s recovery of the costs it
incurs to provide safe and reliable service in addition to an opportunity to earn a fair rate of
return. The settlement, among other things, reduces Idaho Power’s initial proposed base revenue increase of $111,304,981 million to $54.7 million. The commission also found that the settlement allows the utility to operate sustainably while reducing the effects of the rate increase on customers.

Numerous groups were involved in reaching the settlement. They include the City of Boise, Clean Energy Opportunities for Idaho, the Idaho Conservation League, the Idaho Irrigation Pumpers Association, Micron Technology, Idahydro, Industrial Customers of Idaho Power, NW Energy Coalition and Walmart.

Additional information is available at puc.idaho.gov/case/Details/7022.