Idaho Power Seeks 7.31% Rate Increase to Fund $1 Billion Electrical Grid Investment and Rising Costs

Idaho Power has filed a limited rate case with the Idaho Public Utilities Commission (IPUC) requesting a base rate increase of $99.29 million, or 7.31%, for its customers to recover costs associated with infrastructure investments and labor expenses that were not included in the company’s previous rate case. The IPUC will review the request over several months and any changes will not take effect until January 2025 or later. If approved, the average Idaho residential customer using 950 kilowatt-hours per month would see a monthly bill increase of about $7.48. Idaho Power plans to invest nearly $1 billion in its electrical grid in 2024 and an average of nearly $800 million annually over the next five years to meet growing customer demand and maintain a safe, reliable electrical system.