Company Overview of Idaho Power Company
Idaho Power Company, an electric utility company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon. As of December 31, 2014, the company provided electric service to approximately 516,000 general business customers; and had a network of approximately 4,858 pole-miles of high-voltage transmission lines, 24 step-up transmission substations located at power plants, 24 transmiss...
1221 West Idaho Street
Boise, ID 83702
Founded in 1915
Key Executives for Idaho Power Company
Chief Executive Officer, President, Director, Chief Executive Officer of Idacorp Inc and President of Idacorp Inc
Chief Financial Officer, Senior Vice President and Treasurer
Chief Operating Officer and Executive Vice President
Chief Accounting Officer, Vice President and Controller
Chief Information Officer and Vice President
Compensation as of Fiscal Year 2015.
Idaho Power Company Key Developments
Idaho Public Utilities Commission Issues Order of Idaho Power Company's Application for Approval of Long-Term Maintenance Program Contract with Siemens Energy, Sale of Spare Parts Inventory to Siemens Energy, and Deferral of Associated Costs
Oct 5 15
Idaho Public Utilities Commission issued order of Idaho Power Company's application for approval of long-term maintenance program contract with Siemens Energy, sale of spare parts inventory to Siemens Energy, and deferral of associated costs. On June 5, 2015, Idaho Power Company applied to the Commission for an Order approving the company's: (1) long-term program contract with Siemens Energy under which Siemens agrees to maintain the company's three gas plants; (2) sale and transfer to Siemens of $21.9 million in spare parts; and (3) proposed accounting treatment for the transaction. The company does not seek to change customer rates at this time. On June 21, 2015, the Commission issued a notice of application and a notice of modified procedure. The Commission invited interested persons to file written comments by August 27, 2015, and the company to file a reply by September 3, 2015. The Commission also scheduled a September 9, 2015 public hearing in accordance with Idaho Code section 61-328 (governing the sale of utility property). In its application, the company explains that it owns and operates three natural gas plants in Idaho: the Danskin and Bennett Mountain single-cycle combustion turbine plants near Mountain Home, and the Langley Gulch combined-cycle combustion turbine plant near New Plymouth. The company presently maintains these plants by contracting with the plants' manufacturer, Siemens Energy, to service them on a case-by-case, as-needed basis. Under this approach, the company buys parts from Siemens before a scheduled maintenance outage, capitalizes the parts, and then uses them to replace old parts during the outage. The company then retires the old parts and sends them to Siemens to be inspected and repaired.
Idaho Power Company Reports Earnings Results for the Second Quarter Ended June 30, 2015
Jul 30 15
Idaho Power Company reported earnings results for the second quarter ended June 30, 2015. For the quarter, the company reported net income of $64.3 million compared with $42.7 million in the second quarter of 2014.
Idaho Public Utilities Commission Issues Order in the Matter of Idaho Power Company's Application for Approval of Long-Term Maintenance Program Contract with Siemens Energy, Sale of Spare Parts Inventory to Siemens Energy
Jul 21 15
On June 5, 2015, Idaho Power Company applied to the Idaho Public Utilities Commission for an Order approving the company's: (1) long-term program contract with Siemens Energy for maintenance of the company's gas plants; (2) sale and transfer to Siemens of $21.9 million in spare parts for the company's gas plants; and (3) proposed accounting treatment for the transaction. The company does not seek to change customer rates at this time. The company requests that the commission process the case under Modified Procedure. With this Order, the Commission provides notice of the Application, sets deadlines for interested persons to file written comments about the case, and schedules a technical hearing for the parties' witnesses to testify before the Commission.
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