IdaCorp Seeks Rate Hike for New Plants and Labor Costs

IdaCorp (IDA) has shared an update.

Idaho Power has filed a request for a rate increase with the Idaho Public Utilities Commission to raise annual jurisdictional revenue by $99.3 million, translating to an overall 7.3% rise in base revenue, effective from January 1, 2025. This filing pertains to costs associated with new plant additions and ongoing labor for 2024. It maintains the rate of return and other stipulations set in the previous year’s general rate case, without altering other revenue components or regulatory mechanisms. The outcome of this rate case is uncertain, and any changes in rates will depend on the commission’s approval.

Find detailed analytics on IDA stock on TipRanks’ Stock Analysis page.