BOISE — Revenues and profits climbed in the first quarter at Idacorp Inc., the parent of Idaho Power, the company said Thursday.
Idacorp reported net income of $33.5 million, or 67 cents per share, compared with $24.9 million, or 50 cents per share, in the first quarter of 2012.
"IDACORP had positive momentum coming into 2013, and we continued on that course in the first quarter," said President and CEO LaMont Keen. "The improvement in earnings resulted from general business price changes in 2012, diligent cost management and increased sales due to colder than normal weather during the quarter."
Higher rates authorized for electricity from the gas-fired Langley Gulch power plant north of Caldwell helped, the company said.
Idacorp expects earnings for the year to range between $3.20 and $3.35 per share.