Idaho Power Co. irrigation customers will pay just over 3% more if the state Public Utilities Commission approves two rate requests.
One involves the Boise-based company’s early exit from the Jim Bridger coal-fired power plant near Point of Rocks, Wyo.
The other relates to depreciation of assets. New rates would take effect Dec. 1 if the commission approves.
The commission requires energy companies to file a study every five years on the expected useful life of assets. Findings can prompt adjusted cost recovery through changes in rates.
Idaho Power said in a June 2 release that revenue would increase by $30.8 million from all customer classes combined from exiting Bridger and $3.8 million from asset depreciation if the commission approves. Irrigation rates would rise by 2.68% due to the Bridger exit and by 0.33% on the depreciation change.
The company said it recognized “significant changes in the economic life” of the Bridger plant since the last study, and that exiting all four units at the plant by 2030 — four years early — could save customers money. Idaho Power owns one-third of the plant, and PacifiCorp owns two-thirds.
Idaho Power serves more than 590,000 customers in Idaho and Oregon. It aims to provide 100% clean energy by 2045.