Idaho Power reaches rate case settlement: $54.7M annual revenue increase, 9.6% ROE

IDACORP INC

Settlement stipulation filed with IPUC on Oct 27, 2023; if approved, new rates effective Jan 1, 2024.
Annual revenue increase of $54.7M (net of PCA decrease of $168.3M and EE rider cut of $3.5M); 4.25% overall rate rise.
Authorized ROE 9.6% (requested 10.4%); rate base ~$3.8B; authorized return 7.247%.
Modifications to PCA, EE rider (rate drops from 3.1% to 2.35%), fixed cost adjustment, pension cost deferral, ADITC sharing.
Deferred matters: plant investment review by Dec 1, 2023; class cost-of-service; time-of-use rates; settlement not binding if IPUC materially changes.

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