Idacorp Inc. (IDJ)

Overview

IDACORP, Inc., a prominent figure in the energy sector, operates with a comprehensive approach towards the generation, transmission, distribution, purchase, and sale of electric energy across the United States. With a rich history dating back to 1915, the company has entrenched itself as a crucial player in the energy landscape, providing a reliable supply of electricity to a significant number of retail customers. Headquartered in Boise, Idaho, IDACORP has established a robust infrastructure that notably includes hydroelectric plants, natural gas-fired plants, and coal-fired steam electric generating plants across various states. This infrastructure supports its mission to deliver efficient and sustainable energy solutions to its service areas, primarily located in southern Idaho and eastern Oregon. As of the end of 2023, the company has expanded its reach and capabilities, serving approximately 633,000 retail customers and demonstrating a commitment to growth, sustainability, and innovation within the energy sector.

Products and Services

• Electric Generation:

  IDACORP engages in electric generation through diverse sources, including 17 hydropower generating plants located in southern Idaho and eastern Oregon, three natural gas-fired plants in southern Idaho, and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada. This multifaceted approach allows for a stable and flexible generation capacity to meet varying demands.

• Transmission and Distribution:

  The company owns approximately 4,762 pole-miles of high-voltage transmission lines and has established a comprehensive network including 23 step-up transmission substations, 21 transmission substations, 11 switching stations, 30 mixed-use transmission and distribution substations, and 186 energized distribution substations. This extensive infrastructure ensures efficient distribution of electricity to end users.

• Retail Electric Service:

  Providing electric utility services to roughly 633,000 retail customers, IDACORP is dedicated to serving a diverse clientele that includes commercial and industrial customers in sectors such as food processing, electronics, general manufacturing, agriculture, health care, government, and education. The company’s footprint in offering electric services underscores its role as a key utility provider in its operational regions.

• Renewable Energy and Storage:

  Reflecting a commitment to sustainability and innovation, IDACORP has embraced renewable energy sources and technologies, including 131 MW of battery storage, highlighting its efforts to integrate renewable energy solutions into its portfolio and contribute to the transition towards a more sustainable energy future.

• Real Estate and Tax Credit Investments:

  Beyond its core operations in the energy sector, IDACORP actively invests in housing and other real estate tax credit investments. This diversification strategy demonstrates the company's initiative to explore and engage in investment opportunities that complement its primary business operations whilst contributing to community development.