IDACORP, Inc. is an energy holding company whose principal operating subsidiary is Idaho Power Company, a vertically integrated regulated electric utility established in 1916. The company's core business model revolves around the generation, transmission, distribution, and sale of electric energy. Idaho Power serves a 24,000-square-mile territory encompassing southern Idaho and eastern Oregon, providing electricity to over 640,000 residential, commercial, industrial, and agricultural customers.
The vast majority of IDACORP's revenue and earnings are derived from its regulated utility operations. The company's generation portfolio is distinctive for its heavy reliance on hydroelectric power, which typically accounts for the largest portion of its energy mix (approximately 36% to 42% depending on annual water conditions). Idaho Power owns and operates 17 hydroelectric facilities along the Snake River and its tributaries. The remainder of its energy is sourced from company-owned natural gas-fired plants, partial interests in coal-fired facilities, market purchases, and long-term power purchase agreements for wind, solar, and other renewable resources. This hydro-heavy generation base provides a significant competitive advantage, enabling the company to offer some of the lowest retail electricity rates in the nation.
Beyond its primary utility business, IDACORP operates two smaller subsidiaries: IDACORP Financial, which invests in affordable housing and historic rehabilitation real estate projects to generate tax credits, and Ida-West Energy, an independent power producer that operates small hydroelectric generation projects. The company is currently executing a substantial capital expenditure program focused on grid modernization, transmission expansion (such as the Boardman to Hemingway line), and the integration of new battery storage and solar resources to meet rapid customer and load growth in its service territory.
