September 20, 2017 10:03 AM ET

Electric Utilities

Company Overview of Idaho Power Company

Company Overview

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

United States

Founded in 1915

1,999 Employees

Phone:

208-388-2200

Key Executives for Idaho Power Company

CEO, President, Director, CEO of Idacorp Inc, President of Idacorp Inc and Director of Idacorp Inc
Age: 59
Chief Financial Officer, Senior Vice President and Treasurer
Age: 56
Chief Operating Officer and Senior Vice President
Age: 52
Chief Accounting Officer, Vice President and Controller
Age: 53
Senior Vice President and General Counsel
Age: 38
Compensation as of Fiscal Year 2017.

Idaho Power Company Key Developments

Idaho Power Company Reports Earnings Results for the Second Quarter of 2017

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

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

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.

Similar Private Companies By Industry

Company Name Region
3 Phases Renewables, LLC United States
Abacus Resources Energy, LLC United States
Access Energy, LLC United States
Adams Electric Cooperative, Inc. United States
Adams-Columbia Electric Cooperative United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Tax Management Inc United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Idaho Power Company, please visit www.idahopower.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.