IDACORP, Inc., through its subsidiary, Idaho Power Company (Idaho Power), engages in the generation, transmission, distribution, sale, and purchase of electric energy. Utility Operations Idaho Power’s service territory covers approximately 24,000 square miles in southern Idaho and eastern Oregon. Idaho Power holds franchises, typically in the form of right-of-way arrangements, in 71 cities in Idaho and 9 cities in Oregon; and holds certificates from the respective public utility regulatory authorities to serve all or a portion of 25 counties in Idaho and 3 counties in Oregon. Idaho Power operates 17 hydroelectric projects located on the Snake River and its tributaries. Together, these hydroelectric facilities provide a total nameplate capacity of 1,709 megawatts and annual generation equal to approximately 8.6 million megawatt-hours under median water conditions. The company co-owns the following coal-fired power plants: Jim Bridger located in Wyoming, in which Idaho Power has a one-third interest; Valmy located in Nevada, in which Idaho Power has a 50 percent interest; and Boardman located in Oregon, in which Idaho Power has a 10 percent interest. Idaho Power, through its subsidiary Idaho Energy Resources Co (IERCo), owns a one-third interest in Bridger Coal Company, which owns the Jim Bridger mine that supplies coal to the Jim Bridger power plant. NV Energy, Inc., as the operator of the Valmy generating plant, has agreements with coal suppliers through 2015. Idaho Power owns and operates the Langley Gulch natural gas-fired combined cycle power plant and the Danskin and Bennett Mountain natural gas-fired simple cycle combustion turbine power plants. All three plants are located in Idaho. The natural gas is transported through the Williams-Northwest Pipeline under Idaho Power's 55,584 million British thermal units (MMBtu) per day long-term gas transportation service agreements. Transmission Services Electric transmission systems deliver energy from electric generation facilities to distribution systems for final delivery to customers. Transmission systems are designed to move electricity over long distances because generation facilities can be located anywhere from a few miles to hundreds of miles from customers. Idaho Power’s generating facilities are interconnected through its integrated transmission system and are operated on a coordinated basis to achieve maximum capability and reliability. Idaho Power’s transmission system is directly interconnected with the transmission systems of the Bonneville Power Administration, Avista Corporation, PacifiCorp, NorthWestern Energy, and NV Energy, Inc. Idaho Power provides wholesale transmission service and provides firm and non-firm wheeling services for eligible transmission customers. Idaho Power is a member of the Western Electricity Coordinating Council, the Northwest Power Pool, the Northern Tier Transmission Group, and the North American Energy Standards Board. Subsidiaries The company’s other subsidiaries include IDACORP Financial Services, Inc. (IFS), an investor in affordable housing and other real estate investments; and Ida-West Energy Company (Ida-West), an operator of small hydroelectric generation projects. IFS IFS invests primarily in affordable housing developments, which provide a return principally by reducing federal and state income taxes through tax credits and accelerated tax depreciation benefits. IFS’s portfolio also includes historic rehabilitation projects such as the Empire Building in Boise, Idaho. These investments cover 49 states, Puerto Rico, and the U.S. Virgin Islands. The underlying investments include approximately 570 individual properties, of which all but 4 are administered through syndicated funds. IDA-WEST Ida-West operates and has a 50 percent interest in 9 hydroelectric plants with a total generating capacity of 45 MW. Four of the projects are located in Idaho and five are in northern California. Customers As of December 31, 2012, Idaho Power supplied electric energy to approximately 501,000 general business customers. Idaho Power’s principal commercial and industrial customers are involved in food processing, electronics and general manufacturing, agriculture, forest products, beet sugar refining, and winter recreation. Business Strategy IDACORP’s business strategy emphasizes Idaho Power as IDACORP’s core business. Idaho Power has a three-part strategy of responsible planning, responsible development and protection of resources, and responsible energy use to ensure adequate energy supplies. Idaho Power continuously evaluates and refines its business strategy to ensure coordination among and integration of all functional areas of the company. Idaho Power’s business strategy seeks to balance the interests of owners, customers, employees, and other stakeholders while maintaining the company’s financial stability and flexibility. Regulations Idaho Power is under the retail jurisdiction of the Idaho Public Utilities Commission (IPUC) and the Oregon Public Utility Commission (OPUC). Idaho Power is also under the jurisdiction of the IPUC, the OPUC, and the Public Service Commission of Wyoming as to the issuance of debt and equity securities. Further, the Federal Energy Regulatory Commission has jurisdiction over, among other items, Idaho Power's transmission and wholesale sales of electricity, hydroelectric relicensing, and system reliability. History IDACORP, Inc. was founded in 1915. The company was incorporated in 1998 under the laws of the state of Idaho.
idacorp inc (IDA:New York)
1221 West Idaho Street
Boise, ID 83702
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