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 to residential, commercial, industrial, and irrigation customers in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon; and 3 natural gas-fired plants in southern Idaho, as well as holds interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon. As of December 31, 2016, the company provided electric service to approximately 535,000 general business customers; and had a network of approximately 4,861 pole-miles of high-voltage transmission lines, 24 step...
1221 West Idaho Street
Boise, ID 83702
Founded in 1915
Key Executives for Idaho Power Company
CEO, President, Director, CEO of Idacorp Inc, President of Idacorp Inc and Director of Idacorp Inc
Chief Financial Officer, Senior Vice President and Treasurer
Chief Operating Officer and Senior Vice President
Chief Accounting Officer, Vice President and Controller
Senior Vice President and General Counsel
Compensation as of Fiscal Year 2017.
Idaho Power Company Key Developments
Idaho Power Company Reports Earnings Results for the Second Quarter of 2017
Aug 3 17
Idaho Power Company reported earnings results for the second quarter of 2017. For the quarter reported an increase of $1.6 million to operating income this quarter compared with the second quarter of 2016.
Idaho Plan to Close Coal Plant in Nevada
Jun 7 17
Idaho planed to close a coal-fired power plant in Nevada about 10 years sooner than planned and raise monthly bills for customers. The average company Power residential customer in southern Idaho will see an increase of about $1.20 per month. The company is seeking a similar agreement for its eastern Oregon customers. The increased rates will allow Idaho Power to recover depreciation costs based on the shorter lifespan of the power plant. Idaho Power co-owns the plant with Nevada-based NV Energy.
Idaho Power Announces Early Retirement Plans for Nevada's Valmy Coal Plant
May 4 17
As part of a settlement deal released on May 3, 2017, Idaho Power announced its intention to close the two units at Nevada's North Valmy Generating Station several years ahead of schedule. Idaho Power plans to close Unit 1 in 2019 and Unit 2 in 2025. Idaho Power's current schedule depreciates Units 1 and 2 in 2031 and 2035, respectively. Valmy is the last remaining utility-owned coal plant in Nevada after the Reid Gardner plant officially shuttered in March. Idaho Power and NV Energy jointly own the Valmy power plant, which now operates primarily to meet peak energy demand in the summer but remains idle through much of the year. Sierra Club analysis found that operating Valmy until its scheduled retirement in 2025 would cost utility customers an additional $30 million compared to market prices. The settlement announcement requires Idaho Power to work with NV Energy to reach an agreement to stop burning coal at Valmy according to the new timeline. Without an agreement, Idaho Power must issue filings in 2020 and 2026 to justify its inability to meet the timeline. NV Energy's long-term commitment to the plant is also in question. At the end of 2016, the Nevada Public Utilities Commission ordered NV Energy to complete, by the end of this year, a new economic analysis of the Valmy coal plant after Sierra Club's testimony revealed that it's wasting customers' money each day it remains open.
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