IDACORP INC. Files 8-K Report

TL;DR

IDACORP filed its 8-K, mostly standard financial and regulatory updates.

AI Summary

On May 31, 2024, IDACORP INC. filed an 8-K report detailing its financial statements and exhibits. The filing primarily concerns the company's operations and regulatory disclosures, with no specific material events or financial figures highlighted in the provided text.

Why It Matters

This filing provides updated financial information and regulatory disclosures for IDACORP INC., which is important for investors to assess the company's current standing.

Risk Assessment

Risk Level: low — The filing appears to be a routine disclosure of financial statements and exhibits, without any indication of significant negative events.

Key Players & Entities

• IDACORP INC. (company) — Filer of the 8-K report
• IDAHO POWER CO (company) — Subsidiary of IDACORP INC.
• 20240531 (date) — Date of the filing and report period

FAQ

Key Financial Figures

• $99.3 m — annual Idaho jurisdictional revenue of $99.3 million, to become effective January 1, 2

Filing Documents

• ida-20240531.htm (8-K) — 39KB
• exhibit991-pressreleaseida.htm (EX-99.1) — 12KB
• pressreleaseheader.jpg (GRAPHIC) — 35KB
• 0001057877-24-000033.txt ( ) — 278KB
• ida-20240531.xsd (EX-101.SCH) — 3KB
• ida-20240531_def.xml (EX-101.DEF) — 18KB
• ida-20240531_lab.xml (EX-101.LAB) — 28KB
• ida-20240531_pre.xml (EX-101.PRE) — 18KB
• ida-20240531_htm.xml (XML) — 4KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On May 31, 2024, Idaho Power Company ("Idaho Power") issued a press release relating to a limited scope rate case filed on that date by Idaho Power with the Idaho Public Utilities Commission ("IPUC"). The press release includes details on how to access the rate application and the direct testimony and exhibits that accompany the application. A copy of the press release is included as Exhibit 99.1 to this Current Report on Form 8-K. The information in the press release furnished as Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01 Other Events

Item 8.01 Other Events. On May 31, 2024, Idaho Power filed a limited scope rate case and proposed rate schedules with the IPUC, Case No. IPC-E-24-07. The filing requests an increase in annual Idaho jurisdictional revenue of $99.3 million, to become effective January 1, 2025. If approved as filed, this request would result in an overall increase to adjusted base revenue of 7.3 percent. Idaho Power's limited scope rate case filing focuses on revenue requirements for 2024 incremental plant additions and incremental ongoing labor costs. Other aspects of the settlement stipulation approved by the IPUC for Idaho Power's 2023 Idaho general rate case are expected to remain unchanged. Additionally, Idaho Power's limited scope filing: applies the overall rate of return approved in the 2023 Idaho general rate case; does not seek to adjust any other revenue requirement components such as non-labor operations and maintenance expense, net power supply costs, or other revenue; does not propose changes to any other Idaho regulatory mechanisms, such as the power cost adjustment, fixed cost adjustment, or energy efficiency rider; and continues to reflect the 2023 Idaho general rate case settlement amounts for those categories considered "out of scope" for this case. Idaho Power is unable to predict the outcome of the limited scope rate case. Idaho Power anticipates that new rates, if approved by the IPUC, would become effective on or after January 1, 2025. * * * * * *

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains statements that relate to future events and expectations, such as, but not limited to, statements regarding Idaho Power's limited scope rate case filing and any related rate and revenue increases. Such statements constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, or future events or performance, often, but not always, through the use of words or phrases such as "anticipates," "believes," "could," "estimates," "expects," "intends," "potential," "plans," "predicts," "preliminary," "projects," "targets," "may," "may result," "may continue," or similar expressions, are not statements of historical facts and may be forward-looking. Forward-looking statements are not guarantees of future performance, involve estimates, assumptions, risks, and uncertainties, and may differ materially from actual results, performance, or outcomes. In addition to any assumptions and other factors and matters referred to specifically in connection with such forward-looking statements, factors that could cause actual results or outcomes to differ materially from those contained in forward-looking statements include those factors set forth in this Current Report on Form 8-K, IDACORP, Inc.'s ("IDACORP") and Idaho Power's most recent Annual Report on Form 10-K, particularly Part I, Item 1A - "Risk Factors" and Part II, Item 7 - "Management's Discussion and Analysis of Financial Condition and Results of Operations" of that report, subsequent reports filed by IDACORP and Idaho Power with the U.S. Securities and Exchange Commission, and the following important factors: (a) decisions by the IPUC and the Federal Energy Regulatory Commission that impact Idaho Power's ability to recover costs and earn a return on investment; (b) changes to or the elimination of

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . The following exhibits are being furnished as part of this report. Exhibit Number Description 99.1 Idaho Power Company press release, dated May 31, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. Dated: May 31, 2024 IDACORP, INC. By: /s/ Lisa A. Grow Lisa A. Grow President and Chief Executive Officer IDAHO POWER COMPANY By: /s/ Lisa A. Grow Lisa A. Grow President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR