# IDACORP, Inc > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/fi/companies/IDACORP, Inc). ## Overview IDACORP is a Boise-based holding company whose main operating asset is Idaho Power, a regulated electric utility serving customers in Idaho and Oregon. The group also includes smaller subsidiaries tied to hydropower generation and tax-credit investments, but nearly all operating results come from the utility business. ## Products & services • Regulated retail electricity sales • Wholesale electricity sales • Transmission service • Electric generation, transmission and distribution • Small PURPA-qualifying hydropower projects • Affordable housing and tax credit investments - **Regulated electric utility operations** (92%) — Idaho Power's core business of generating, transmitting, distributing and selling electricity under regulated rates. - **Transmission and wholesale power** (5%) — Electric transmission service and wholesale energy/capacity transactions that support system balancing and revenue. - **Hydropower generation** (1%) — Small PURPA-qualifying hydropower projects operated through Ida-West. - **Tax credit investments and other** (2%) — Affordable housing and other real estate tax credit investments held through IFS and related activities. - Regulated retail electricity sales - Wholesale electricity sales - Transmission service - Electric generation, transmission and distribution - Small PURPA-qualifying hydropower projects - Affordable housing and tax credit investments ## Customers IDACORP serves retail electricity customers across Idaho Power's service territory, including households, commercial users and industrial accounts. It also sells power and transmission services to wholesale counterparties, while its smaller investment subsidiaries serve financial and project-based counterparties rather than utility end-users. - **Residential retail customers** (primary) — Households in Idaho Power's service area buying regulated electricity for everyday consumption and reliability. - **Commercial and small business customers** (primary) — Retail businesses buying electricity and transmission-backed service for stores, offices and service operations. - **Industrial and large load customers** (primary) — Larger customers buying power under regulated tariffs and contributing materially to load growth. - **Wholesale and transmission counterparties** (secondary) — Utilities and market participants buying energy, capacity or transmission service to balance supply and demand. - **Tax credit and hydropower counterparties** (emerging) — Partners in affordable housing tax credit investments and small hydropower projects. - Residential customers buying reliable power for homes and daily use - Commercial customers needing regulated electricity for operations - Industrial customers with larger, more price-sensitive load profiles - Wholesale power buyers and transmission users - Project and tax-credit counterparties in smaller non-utility activities ## Geography IDACORP's business is concentrated in the western United States, with Idaho Power regulated by Idaho and Oregon commissions and by FERC. Boise is the corporate and operating headquarters, and the company's exposure is primarily tied to growth, weather, regulation and resource adequacy in its service territory rather than broad international markets. - **Idaho** (70%) — Primary service territory and headquarters location - **Oregon** (20%) — Regulated service territory and rate jurisdiction - **Other U.S.** (10%) — Wholesale, financing and subsidiary activities - Headquartered in Boise, Idaho - Core regulated utility footprint in Idaho and Oregon - Federal oversight through FERC for transmission and wholesale matters - Operations concentrated in the U.S. West, limiting geographic diversification - Service-territory growth directly affects load, capital needs and rates ## Strategy IDACORP's strategy is to compound value through Idaho Power's regulated utility franchise, with emphasis on safety, financial strength, core utility execution and brand trust. Management is also focused on funding large capital needs, maintaining constructive regulation and supporting customer growth with reliable and affordable energy from diversified resources. - **Safety and workforce engagement** (short-term) — Utility operations depend on disciplined field execution and a stable workforce to maintain reliability and compliance. - **Resource additions and capital investment** (medium-term) — Projected energy and capacity deficits require new generation and related infrastructure to support growth. - **Constructive regulation and rate recovery** (medium-term) — Earnings depend on timely recovery of costs and a reasonable return on regulated investment. - **Brand and service reliability** (long-term) — High reliability and affordability support customer satisfaction, load growth and regulatory credibility. - Keep employees safe and engaged - Grow financial strength through regulated utility execution - Improve Idaho Power's core business and service reliability - Enhance the Idaho Power brand with customers and regulators - Fund resource additions to meet projected load and capacity needs - Maintain constructive rate recovery and dividend flexibility ## Risks IDACORP is exposed to utility regulation, because rates, allowed returns and cost recovery are set by state and federal regulators rather than by market pricing. Its holding-company structure also means cash available for dividends and debt service depends on Idaho Power distributions, while capital-intensive load growth and weather-driven demand can pressure financing needs and operating results. - **Regulatory rate and return risk** [high] — Utility earnings depend on authorized rates, recovery mechanisms and allowed returns set by regulators. - **Holding-company liquidity risk** [high] — IDACORP relies on dividends from Idaho Power to fund its own dividends and debt obligations. - **Capital intensity and financing risk** [high] — Resource additions and grid investment require substantial capital before cost recovery is fully realized. - **Load, weather and demand variability** [medium] — Retail sales and peak demand can vary with weather, customer growth and usage per customer. - **Operational reliability and outage risk** [medium] — Utility performance depends on maintaining generation, transmission and distribution assets safely. - Regulatory decisions can limit rates, returns or cost recovery - Holding-company cash flow depends on subsidiary dividends - Large capital spending may outpace internal cash generation - Load growth and weather can swing demand and earnings - Reliability, wildfire and system events can create outage and liability risk ## Accounting The most important accounting judgments are tied to rate regulation, because deferred costs, regulatory assets and liabilities, and timing of recovery can materially affect earnings and cash flow. Management also relies on estimates for unbilled revenues, uncollectible accounts, retirement benefits, taxes and asset impairment, all of which can move reported results when assumptions change. - **Rate-regulated accounting** — Regulatory assets/liabilities and timing of cost recovery - **Unbilled revenues** — Quarterly revenue and working capital - **Allowance for uncollectible accounts** — Operating expenses and net receivables - **Retirement benefits and taxes** — Net income and deferred tax balances - **Asset impairment and depreciation** — Operating expense and carrying value of plant - Regulatory assets and liabilities affect timing of cost recovery - Unbilled revenues and receivables estimates affect quarterly revenue - Allowance for uncollectible accounts affects utility credit losses - Retirement benefit and tax estimates can shift earnings - Asset impairment and depreciation matter in a capital-heavy utility --- *Last updated: 2026-04-28T20:15:30.917142+00:00*