Idaho Power files Fixed Cost Adjustment
BOISE, Idaho (KIFI)-Idaho Power is asking the Idaho Public Utilities Commission to approve a $2.8 million fixed cost adjustment in its residential and general service rates.
If the Fixed Cost Adjustment is approved, a typical residential customer using 950 kilowatt-hours per month would see about a $0.37 increase in their monthly bill beginning June 1.
The full impact won't be known until the utility files its Power Cost Adjustment in April. Idaho Power estimates that would increase rates for both categories of customer by about .38%.
The Fixed Cost Adjustment moves prices up or down based on actual charges in energy use per customer during the previous year.
In 2020, Idaho Power said its energy efficiency programs saved an incremental 296,809 megawatt hours, the second highest recorded savings year to date. That is enough energy to power approximately 17,000 average-sized homes for a year.
The FCA allows Idaho Power to recover an IPUC-authorized level of fixed costs — costs associated with things like generation plants, power lines and substations — per customer. If the company collects less than the authorized fixed-cost amount, it can collect the difference through a surcharge. If the company collects more than the authorized amount, it refunds the difference to customers through a credit. Both scenarios have happened in the past.
