Slide 1: Earnings Conference Call, 3rd Quarter 2014
Earnings Conference Call a 3rd Quarter 2014 October 30, 2014
Slide 2: Presenters: Darrel Anderson and Steve Keen
Darrel Anderson Steve Keen IDACORP President IDACORP Senior Vice President, & Chief Executive Officer Chief Financial Officer & Treasurer
Slide 3: Forward-Looking Statements
@SIDACORP. Forward-Looking Statements In addition to the historical information contained in this presentation, this presentation contains (and oral communications made by IDACORP, Inc. and Idaho Power Campany may contain) statements that relate ta future events and expectations and, as such, consti
Slide 4: Earnings Performance
Earnings Performance IDACORP, Inc. Net Income and Earnings Per Share (thousands except for per share amounts) ) Nine Months Ended Sept. 30 2014 2013” $ 158,832 $ 154,815 50,184 50,109 Three Months Ended Sept. 30 2014 2013" Net Income $ 86,889 $ 73,119 Weighted average shares outstanding— diluted 50,
Slide 5: 3rd Quarter 2013 to 3rd Quarter 2014 Net Income
3'4 Quarter 2013 to 3" Quarter 2014 IDACORP, Inc. Net Income (millions) Net Income — September 30, 2013 (1) eRe Change in Idaho Power net income: Decreased sales volumes attributable to usage per customer, net of associated power supply costs and PCA mechanism impacts (82) Increased sales volumes at
Slide 6: Operating Cash Flows and Liquidity
Operating Cash Flows (millions) IDACORP Net Cash Provided by Operating Activities Liquidity (millions) Revolving Credit Facility —- Expires October 2018 Commercial Paper Outstanding Identified for Other Use?) Holding company only @SIDACORP. Nine Months Ended September 30 2014 2013 S$ 315.8 $ 247.6 A
Slide 7: Key Financial & Operating Metrics and 2014 Earnings Guidance
@SIDACORP. Key Financial & Operating Metrics and 2014 Earnings Guidance (millions except for per share amounts) 2014 Estimates Current (4) Previous (?) Idaho Power Operations & Maintenance Expense No Change § 335-$ 345 Idaho Power Additional Amortization of ADITC No Change so Idaho Power Capital Exp
Slide 8: ADITC Settlement Sharing Mechanism 2015-2019
TOresetienensona ADITC Settlement 2015-2019) Sharing Percentage 100%- TRE) Customer Benefit - Cash Refund Earnings 50%} Deadband 25% Company Benefit (25%) —<—<—<— Return On Year-End Equity In Idaho Jurisdiction Ability to use additional ADITC's of upto $45 million from 2015 — 2019 —> © As approved b
Slide 9: IDACORP Common Stock Dividend
“REDRE Conmansteck eager IDACORP Common Stock Dividend “Today's action by the Board of Directors moves the dividend payout ratio closerto IDACORP’S stated long-term goal of between a fifty and sixty percent payout of sustainable IDACORP earnings, and is reflective of continued strong performance by
Slide 10: Continued Economic Progress
~ SIDACORP. Continued Economic Progress ~ 1 Winco Shi, YZ gon? Simplot CHOBAN! EQN GEEK YOCURT
Slide 11: Winter Outlook
Winter Outlook November 2014 Through January 2015 Precipitation Temperature EC 33% to 40% Chance of Below Normal Precipitation 1B 33% to 40% Chance of Above Normal Temperature BB 40% to 50% Chance of Below Normal Precipitation BB 40% to 50% Chance of Above Normal Temperature [BB 50% or Greater for B
Slide 12: Questions?
Questions?
Slide 13: Contact Information
Contact Information ~ Investors & Analysts Media Lawrence F. Spencer Stephanie McCurdy Director of Investor Relations Corporate Communications (208) 388-2664 (208) 388-6973 LSpencer@idacorpine.com SMcCurdy@idahopower.com Webcast and presentation on WW.IDACORPINC. COM