Rocky Mountain Power filed a long-term plan for the modernization of its production, transportation, and electricity delivery services in Idaho last week, and with it would come a 7 percent price increase for customers.
The Idaho Public Utilities Commission will consider both Rocky Mountain Power’s Energy Vision 2020, which includes a mix of renewable energy and transmission initiatives, wind repowering projects, clean air improvements for certain generating units, and continued transmission investment, as well as the capital investment made in rebuilding the Rigby to Rexburg transmission line in southeastern Idaho.
“Rocky Mountain Power is proud to serve our customers with affordable, safe, reliable, and increasingly clean electricity,” Gary Hoogeveen, president and CEO of Rocky Mountain Power, said. “Rocky Mountain Power has the lowest average electricity price of any large electrical utility in the Intermountain West with prices that are about 25 percent lower than the national average.”
Indeed, Rocky Mountain Power has not updated its base rates since 2014. If approved, this new hike would go into effect on Jan. 1, 2022. It would result in an increase of $19 million for customers overall, which, when broken down, would result in an increase of approximately $10.32 per month for the average residential customer.
The company has been investing in updates to its energy service for eight years without raising rates. It maintains that increasing costs at this juncture would allow it to align its rates with the actual cost of service and maintain reliable service. Further, it noted that the addition of renewable energy projects will save customers millions long term, as they have no fuel costs associated with them.
The Idaho Public Utilities Commission could accept, modify or reject the new proposal and will have the final say on the determination of the actual rates.