Slide 1: Earnings Conference Call
Earnings Conference Call 4th Quarter & Full-Year 2019 February 20, 2020
Slide 2: Forward-Looking Statements
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 Company may contain) statements, including, without limitation, earnings guidance and estimated key operating
Slide 3: Leadership Presenting Today
Leadership Presenting Today Darrel Anderson Lisa Grow Steve Keen IDACORP President Idaho Power Company President IDACORP Senior Vice President, & Chief Executive Officer Chief Financial Officer, & Treasurer 3
Slide 4: Earnings Performance
Earnings Performance IDACORP, Inc. Net Income and Earnings Per Diluted Share (Thousands Except for Per Share Amounts) Three Months Year Ended December 31 Ended December 31 2019 2018 2019 2018 Net Income $ 47,136 $ 26,140 $ 232,854 $ 226,801 Average shares outstanding– diluted 50,566 50,527 50,537 50
Slide 5: Record Safety Results
Record Safety Results 5 4.5 4 OSHA Recordable Rates 3.5 3 2.5 2 1.5 1 0.5 0 2000 2014 2015 2016 2017 2018 2019 National Average EEI (1k-<2k Employees) Idaho Power 5
Slide 6: Record High Scores
Idaho Power Achieved Record High REDUCTION FROM 2005 LEVEL Scores 51% SAIFI Average frequency of outages was 51% LOWER than 2005 in JD Power’s 2019 Electric Residential SAIDI 44% Average duration of outages 2019 and Business was 44% LOWER than 2005 Customer Satisfaction Studies in 2019 RELIABILITY 6
Slide 7: Growth & Economic Expansion
Growth & Economic Expansion 570,000 2.5% Idaho Power Customer Growth 560,000 550,000 540,000 530,000 520,000 Treasure Valley, Idaho 2015 2016 2017 2018 2019 Top 5 States in Percent Growth, 2018 to 2019 * 1 2 3 4 5 2.1% 1.7% 1.7% 1.7% 1.3% 7 Idaho Nevada Arizona Utah Texas *Source: U.S. Census Bureau
Slide 8: A Foundation of Clean Energy
Current Coal-Fired Plant Shutdown Plan‡ A Foundation of Clean Energy ‡Idaho Power’s planned shut down and timing of Jim Bridger units is subject to a number of assumptions and uncertainties described in the 2019 Integrated Resource Plan and is subject to regulatory approval and change. Decreased Ida
Slide 9: IDACORP, Inc. Net Income (millions)
2018 to 2019 IDACORP, Inc. Net Income (millions) Net Income – For the Year Ended December 31, 2018 $ 226.8 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 18.8 Usage per retail customer, net of associated pow
Slide 10: Operating Cash Flows
Operating Cash Flows (millions) Year Ended December 31 IDACORP 2019 2018 Net Cash Provided by Operating Activities $ 366.6 $ 491.6 Liquidity As of December 31, 2019 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires December 2024 $ 100.0 $ 300.0 Commercial Paper Outstanding – – Id
Slide 11: 2020 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics
2020 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics (Millions Except for Per Share Amounts) 2020 Estimates(1) 2019 Actual IDACORP Earnings Per Diluted Share Guidance $ 4.45 – $ 4.65 $ 4.61 Idaho Power Additional Amortization of Accumulated None None Deferred Investment Tax
Slide 12: Weather Outlook
Weather Outlook March Through May 2020 EC Means Equal Chances for Above, Normal or Below A Means Above B Means Below 12 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, January 16, 2020
Slide 13: Contact Information
Contact Information Investors & Analysts Media Justin S. Forsberg Jordan Rodriguez Director of Investor Relations & Treasury Corporate Communications (208) 388-2728 (208) 388-2460 JForsberg@idacorpinc.com JRodriguez@idahopower.com Webcast and presentation on WWW.IDACORPINC.COM