Idacorp (IDA) Stock Price, News & Analysis

IDACORP, Inc. (NYSE: IDA) is a Boise, Idaho-based holding company formed in 1998. According to the company’s public disclosures, IDACORP is comprised of three primary businesses: Idaho Power, IDACORP Financial, and Ida-West Energy. Through these subsidiaries, IDACORP participates in regulated electric utility operations, affordable housing and other real estate tax credit investments, and small hydroelectric generation projects.

Idaho Power, IDACORP’s largest subsidiary, is a regulated electric utility that has been locally operated since 1916. Idaho Power is headquartered in Boise, Idaho and serves a service area of approximately 24,000 square miles in Idaho and Oregon. Company background information states that Idaho Power serves more than 650,000 metered customers in a service area of about 1.3 million people, including residential, business, industrial, and agricultural users.

Idaho Power’s energy mix is described as diverse, with 17 low-cost hydropower projects at its core. The company states that this hydropower-based portfolio contributes to customers paying among the nation’s lowest prices for electricity. Idaho Power’s operations also involve planning for additional energy resources, transmission, battery storage, and energy efficiency to meet projected growth in energy demand, as outlined in its Integrated Resource Plan filings with state regulators.

IDACORP’s public information notes that Idaho Power’s employees focus on a culture of safety, integrity, and respect. The utility has also described a goal to provide 100% clean energy by 2045, building on its long history using hydropower resources. Regulatory oversight for Idaho Power includes public utility commissions in Idaho and Oregon, which review and acknowledge long-range energy plans and rate cases.

IDACORP Financial is identified in company materials as an investor in affordable housing and other real estate tax credit investments. These activities are separate from the regulated utility operations and are conducted within the holding company structure.

Ida-West Energy is described as an operator of small hydroelectric generation projects that qualify under the requirements of the Public Utility Regulatory Policies Act of 1978. These projects are distinct from Idaho Power’s larger hydropower system but are also part of IDACORP’s broader involvement in hydroelectric generation.

In its segment reporting, IDACORP identifies utility operations as its only reportable segment, with the primary source of revenue coming from the regulated operations of Idaho Power. Idaho Power is engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity. The company serves commercial and industrial customers involved in areas such as food processing, electronics and general manufacturing, agriculture, health care, government, and education.

Regulation plays a central role in IDACORP’s business model. Idaho Power periodically files general rate cases and other regulatory applications with the Idaho Public Utilities Commission (IPUC) and the Oregon Public Utility Commission. For example, SEC filings describe a general rate case in Idaho based on a test year, with requests related to additional annual revenues, authorized returns on equity, and capital structure assumptions. Settlements and orders from these cases establish authorized rates of return, rate base levels, and mechanisms such as power cost adjustment and fixed cost adjustment mechanisms.

Recent regulatory disclosures reference mechanisms for net power supply expense, accumulated deferred investment tax credits (ADITC), and revenue sharing between Idaho Power and its customers. These mechanisms, as described in settlement stipulations and regulatory orders, influence how certain costs, tax credits, and earnings above specified return thresholds are treated for ratemaking purposes.

IDACORP is listed on the New York Stock Exchange under the symbol IDA. SEC filings confirm that its common stock is registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 and traded on the NYSE. The company has a history of paying quarterly cash dividends on its common stock, and public announcements describe board-approved increases in the regular quarterly dividend over multiple years.

Company news releases and SEC reports emphasize ongoing capital investment in utility infrastructure, including transmission projects and a leased battery storage facility placed into operation. These investments are described as supporting reliability and meeting rapidly growing customer needs in Idaho Power’s service area. Idaho Power’s long-range planning documents also highlight anticipated growth in peak demand over a multi-decade horizon and the need for additional generation and transmission capacity.

Overall, IDACORP, Inc. functions as a utility-focused holding company, with its primary operations centered on Idaho Power’s regulated electric utility business in Idaho and Oregon, supported by complementary activities in tax credit investments and small hydroelectric projects through IDACORP Financial and Ida-West Energy.