BOISE, Idaho — An energy price increase has been outlined by Idaho Power in this year's Power Cost Adjustment (PCA) which was filed Friday.
The PCA calls for an increase in price as a response to higher power costs associated with natural gas prices, reduced output from hydro generation and a limited coal supply.
The filing includes a request for $200.23 million, which will be used solely to recover expenses associated with fluctuations in power costs this year.
Neither Idaho Power nor its shareholders will receive any financial return from the filing.
"We understand times are tough for many, and we are sensitive to the impacts price increases have on our customers," said Ryan Adelman, Vice President of Power Supply. "Unfortunately, our power supply costs were higher this past year because of continued drought conditions, high natural gas prices and fuel supply challenges, and we must recover those costs to maintain the reliable service our customers depend on. Despite these obstacles, we are working hard to keep our prices 20% to 30% lower than the national average."
Idaho Power submitted the cost adjustment on March 15.
If approved the rate changes will take effect on June 1, increasing the power spending of the average Idaho resident by $11.06.
