REGULATORY MATTERS:	3 Months Ended
Mar. 31, 2025
Public Utilities, Rate Matters [Abstract]
Regulatory Matters	REGULATORY MATTERS Included below is a summary of Idaho Power's most recent general rate cases and base rate changes, as well as other recent or pending notable regulatory matters and proceedings. Idaho and Oregon Rate Cases Idaho Power's current base rates result from the IPUC and OPUC orders described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2024 Annual Report. In March 2025, Idaho Power provided notice to the IPUC of its intent to file a general rate case in Idaho on or after May 30, 2025. Idaho ADITC Mechanism The 2018 Settlement Stipulation and the 2023 Settlement Stipulation are each described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2024 Annual Report. The 2023 Settlement Stipulation modified the 2018 Settlement Stipulation in part. The 2023 Settlement Stipulation included provisions for the accelerated amortization of ADITCs to help achieve a minimum 9.12 percent Idaho ROE. Based on its estimate of full-year 2025 Idaho ROE, in the three months ended March 31, 2025, Idaho Power recorded $19.3 million in additional ADITC amortization under the 2023 Settlement Stipulation. Accordingly, as of March 31, 2025, approximately $57.8 million of additional ADITC remained available for future use. Idaho Power recorded $12.5 million of additional ADITC amortization during the three months ended March 31, 2024, based on its then-current estimate of full-year 2024 Idaho ROE. Power Cost Adjustment Mechanisms In both its Idaho and Oregon jurisdictions, Idaho Power's power cost adjustment mechanisms address the volatility of power supply costs and provide for annual adjustments to the rates charged to its retail customers. The power cost adjustment mechanisms compare Idaho Power's actual net power supply costs (primarily fuel and purchased power less wholesale energy sales) against net power supply costs being recovered in Idaho Power's retail rates. Under the power cost adjustment mechanisms, certain differences between actual net power supply costs incurred by Idaho Power and costs being recovered in retail rates are recorded as a deferred charge or credit on the balance sheet for future recovery or refund. The power supply costs deferred primarily result from changes in contracted power purchase prices and volumes, changes in wholesale market prices and transaction volumes, fuel prices, and the levels of Idaho Power's own generation. In April 2025, Idaho Power filed an application with the IPUC requesting a $94.8 million net decrease in PCA revenues, effective for the 2025-2026 PCA collection period from June 1, 2025 to May 31, 2026. The net decrease in PCA revenues is due primarily to the collection of the 2023 PCA balancing adjustment, which was collected over two years as ordered by the IPUC. Increased sales of renewable energy credits also contributed to the decrease. As of the date of this report, the IPUC has not yet issued an order on the company's requested rate decrease. In March 2025, Idaho Power filed the March forecast of its APCU with the OPUC. If the March forecast and October update are approved as filed, the 2025 composite APCU will result in a revenue decrease of $1.1 million in Oregon-jurisdictional rates effective June 1, 2025. As of the date of this report, the OPUC has not issued an order on the company's requested rate decrease. Idaho Fixed Cost Adjustment Mechanism The FCA mechanism, applicable to Idaho residential and small commercial customers, is designed to remove a portion of Idaho Power’s financial disincentive to invest in energy efficiency programs by separating (or decoupling) the recovery of fixed costs from the variable kilowatt-hour charge and linking it instead to a set amount per customer. Under Idaho Power's current rate design, Idaho Power recovers a portion of fixed costs through the variable kilowatt-hour charge, which may result in over-collection or under-collection of fixed costs. To return over-collection to customers or to collect under-collection from customers, the FCA mechanism allows Idaho Power to accrue, or defer, the difference between the authorized fixed-cost recovery amount per customer and the actual fixed costs per customer recovered by Idaho Power during the year. The IPUC has discretion to cap the annual increase in the FCA recovery at 3 percent of base revenue, with any excess deferred for collection in a subsequent year. In March 2025, Idaho Power filed its annual FCA update with the IPUC, requesting approval to implement rates reflecting a 2024 FCA regulatory liability balance of $3.0 million, a $39.8 million decrease over the 2023 FCA regulatory asset balance of $36.8 million, over the period from June 1, 2025 to May 31, 2026. Because the 2024 FCA balance is less than the 2023 FCA balance and annual sales for June 1, 2025 through May 31, 2026, are forecast to be slightly higher than the same period in the prior year, the proposed 2025-2026 FCA rates represent an annual decrease of $40.7 million, or 5.28 percent, from current rates. As of the date of this report, the IPUC has not yet issued an order on the company's requested rate decrease. Recovery of Incremental AFUDC Associated with HCC In March 2025, Idaho Power filed an application with the IPUC requesting an order authorizing an increase to customer rates of $29.7 million, effective June 1, 2025, to recover incremental financing costs, or AFUDC, associated with the HCC relicensing project. As of the date of this report, the IPUC's decision is pending. Wildfire Mitigation Cost Deferral In December 2024, Idaho Power filed its 2025 WMP with the OPUC along with an application requesting authorization to defer for future recovery an estimated $3.3 million of newly identified incremental costs expected to be incurred in 2025 associated with expanded wildfire mitigation efforts. As of the date of this report, the OPUC's decision is pending. In February 2025, Idaho Power filed its 2025 WMP with the IPUC, along with an application requesting authorization to defer for future recovery an estimated $23.2 million of newly identified incremental costs expected to be incurred in 2025 associated with expanded wildfire mitigation efforts. As of the date of this report, the IPUC's decision is pending.

The 2018 Settlement Stipulation and the 2023 Settlement Stipulation are each described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2024 Annual Report. The 2023 Settlement Stipulation modified the 2018 Settlement Stipulation in part. The 2023 Settlement Stipulation included provisions for the accelerated amortization of ADITCs to help achieve a minimum 9.12 percent Idaho ROE.

Based on its estimate of full-year 2025 Idaho ROE, in the three months ended March 31, 2025, Idaho Power recorded $19.3 million in additional ADITC amortization under the 2023 Settlement Stipulation. Accordingly, as of March 31, 2025, approximately $57.8 million of additional ADITC remained available for future use. Idaho Power recorded $12.5 million of additional ADITC amortization during the three months ended March 31, 2024, based on its then-current estimate of full-year 2024 Idaho ROE.

In both its Idaho and Oregon jurisdictions, Idaho Power's power cost adjustment mechanisms address the volatility of power supply costs and provide for annual adjustments to the rates charged to its retail customers. The power cost adjustment mechanisms compare Idaho Power's actual net power supply costs (primarily fuel and purchased power less wholesale energy sales) against net power supply costs being recovered in Idaho Power's retail rates. Under the power cost adjustment mechanisms, certain differences between actual net power supply costs incurred by Idaho Power and costs being recovered in retail rates are recorded as a deferred charge or credit on the balance sheet for future recovery or refund. The power supply costs deferred primarily result from changes in contracted power purchase prices and volumes, changes in wholesale market prices and transaction volumes, fuel prices, and the levels of Idaho Power's own generation.

In April 2025, Idaho Power filed an application with the IPUC requesting a $94.8 million net decrease in PCA revenues, effective for the 2025-2026 PCA collection period from June 1, 2025 to May 31, 2026. The net decrease in PCA revenues is due primarily to the collection of the 2023 PCA balancing adjustment, which was collected over two years as ordered by the IPUC. Increased sales of renewable energy credits also contributed to the decrease. As of the date of this report, the IPUC has not yet issued an order on the company's requested rate decrease.

In March 2025, Idaho Power filed the March forecast of its APCU with the OPUC. If the March forecast and October update are approved as filed, the 2025 composite APCU will result in a revenue decrease of $1.1 million in Oregon-jurisdictional rates effective June 1, 2025. As of the date of this report, the OPUC has not issued an order on the company's requested rate decrease.

The FCA mechanism, applicable to Idaho residential and small commercial customers, is designed to remove a portion of Idaho Power’s financial disincentive to invest in energy efficiency programs by separating (or decoupling) the recovery of fixed costs from the variable kilowatt-hour charge and linking it instead to a set amount per customer. Under Idaho Power's current rate design, Idaho Power recovers a portion of fixed costs through the variable kilowatt-hour charge, which may result in over-collection or under-collection of fixed costs. To return over-collection to customers or to collect under-collection from customers, the FCA mechanism allows Idaho Power to accrue, or defer, the difference between the authorized fixed-cost recovery amount per customer and the actual fixed costs per customer recovered by Idaho Power during the year. The IPUC has discretion to cap the annual increase in the FCA recovery at 3 percent of base revenue, with any excess deferred for collection in a subsequent year. In March 2025, Idaho Power filed its annual FCA update with the IPUC, requesting approval to implement rates reflecting a 2024 FCA regulatory liability balance of $3.0 million, a $39.8 million decrease over the 2023 FCA regulatory asset balance of $36.8 million, over the period from June 1, 2025 to May 31, 2026. Because the 2024 FCA balance is less than the 2023 FCA balance and annual sales for June 1, 2025 through May 31, 2026, are forecast to be slightly higher than the same period in the prior year, the proposed 2025-2026 FCA rates represent an annual decrease of $40.7 million, or 5.28 percent, from current rates. As of the date of this report, the IPUC has not yet issued an order on the company's requested rate decrease.

In December 2024, Idaho Power filed its 2025 WMP with the OPUC along with an application requesting authorization to defer for future recovery an estimated $3.3 million of newly identified incremental costs expected to be incurred in 2025 associated with expanded wildfire mitigation efforts. As of the date of this report, the OPUC's decision is pending. In February 2025, Idaho Power filed its 2025 WMP with the IPUC, along with an application requesting authorization to defer for future recovery an estimated $23.2 million of newly identified incremental costs expected to be incurred in 2025 associated with expanded wildfire mitigation efforts. As of the date of this report, the IPUC's decision is pending.