Idaho Power reports sixth consecutive year of earnings growth

newsroom@idahostatesman.comFebruary 20, 2014 

Idaho Power's parent company IdaCorp announced Thursday net income of $182.4 million for its fiscal year, which ended Dec. 31. That was an increase of about 5.4 percent over the previous year.

Almost all of that income was from Idaho Power.

"It was another year of earnings growth for IdaCorp, benefiting both our shareholders and our customers," said the company's soon-to-retire President and CEO LaMont Keen. "The positive results reflect the impacts of a full year of rate adjustments related to the Langley Gulch plant, combined with higher weather-related sales and customer growth, along with the early adoption of [an] accounting method change."

The company will share earnings with Idaho customers by reducing future rates, as it has done for the past three years, he said.

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