Idaho Power customers could see price decrease
Idaho Power Company is asking the Idaho Public Utilities Commission to lower its rates.
The company’s spring cost adjustment (PCA) would lower rates by $50 million across all customer classes.
If approved, IPC said the adjustment would lower a typical residential customer’s bill by about $3.35 per month, beginning June 1.
The company has four other rate cases filed. If those are approved, that residential customer’s bill would have a combined decrease of 59 cents per month.
Those cases are:
The annual PCA is a cost-recovery tool that passes on both the benefits and costs of supplying energy to Idaho Power customers. The annual Fixed Cost Adjustment (FCA), filed in March, adjusts prices based on changes in energy use per customer during the previous year. This year, Idaho Power also filed a rate adjustment to recover costs related to the company’s planned exit from the North Valmy power plant (Valmy). This year, Idaho Power also requested a downward adjustment to the Idaho Energy Efficiency Rider (EE Rider).
If approved, it would be the second consecutive year that IPC residential customers would see an overall rate decrease. Three classes of business customers, including irrigators, would see a better than 5% decrease on their bills.
The power supply cost adjustment reflects a good water year, which made for a good year for hydro-electricity and benefits from lower-than-expected natural gas costs. Also included in the formula are a $5 million revenue sharing credit, and a federal tax cut benefit.
