Idaho Power files proposals with state commission for adjusted rates
Idaho Power has filed proposals with the Idaho Public Utilities Commission (IPUC) for new rates.
The proposals take into account the company’s early exit from the Bridger coal-fired power plant, as well as the depreciation of assets. If the requests are approved, the average residential customer using 950-kilowatt hours (kWh) of energy per month would see a monthly bill increase of $2.71, starting Dec. 1, 2021.
One of the proposals relates to the depreciation of assets. Every five years, Idaho Power is required to file a study with the IPUC analyzing the expected lives of its assets. The findings result in changes to rates through the adjusted cost recovery of these assets. The study this year resulted in a $3.8 million overall increase.
The second proposal is for the early exit from the Bridger coal-fired plant. Idaho Power recognized, in its analysis, that significant changes in the economic life of the Bridger coal-fired plant had occurred since the previous study. Idaho Power’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. So, the company is seeking to accelerate the recovery of depreciation expenses by year-end 2030. If approved as filed, the overall increase will be $30.8 million.
The proposals are subject to public review and approval by the IPUC. They are available at IPUC offices, Idaho Power offices, idahopower.com, or puc.idaho.gov.
Idaho Power, based in Boise, serves more than 590,000 customers in Idaho and Oregon.
