Idaho Power granted revenue increase

The following is a press release from the Idaho Public Utilities Commission.

BOISE, Idaho (IPUC) – The Idaho Public Utilities Commission has granted Idaho Power a 3.73 percent increase in base revenue.

In its application to the commission seeking the rate increase, Idaho Power said revenue from current rates is not sufficient to cover planned investments, increased labor costs and other inflationary pressures. If the application had been approved as filed, rates would have gone up between 7.25 percent and 9.50 percent for residential, small general service, large general service, large power and irrigation customers.

In its decision issued Dec. 31, 2024, the commission granted Idaho Power a 3.73 percent increase in base revenue. This will increase the utility’s annual revenue by $50,605,147. In its application, Idaho Power had asked for a $99,293,220 increase in annual revenue. That amount represented a 7.31 percent increase in base revenue.

The new rates take effect Jan. 1, 2025.

Additional information is available at: puc.idaho.gov/case/Details/7268.