Idaho Power requests $140 million rate increase

Idaho Power submitted its annual power cost adjustment proposal to the Idaho Public Utilities Commission earlier this week, requesting a total rate increase of $140.4 million. Because of the amount of the increase, Idaho Power is providing IPUC with an option to mitigate the amount.

If IPUC adopts the mitigation, the price increase to customers would be $87.9 this year, with the remaining $52.5 million deferred until next year. The unmitigated total would result in an overall rate increase of 15.34 percent for customers, while the mitigated total would result in a 9.6 percent increase.

Idaho Power Vice President of Regulatory Affairs Greg Said stated in a release there were two significant factors to the increase amount. One was hydropower generation that was 1.8 million MWh lower than the forecasted amount, and the other was lower actual market energy prices compared to forecasted prices.

Said added Idaho Power will not file a general rate case in 2013.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs