IDACORP, Inc. · NYSE:IDA
IDACORP — Corporate Update (October 2022)
9 slides from IDACORP's corporate update, October 2022
Slide 1: Investor Updates Fall 2022
Investor Updates Fall 2022
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: Table of Contents
Table of Contents Company Overview Common Stock Dividend Raised 5.3% 1 Continuing Customer Growth Rate 2 Micron Expansion Drives Further Growth 3 2023 Integrated Resource Plan Forecasts Strong Growth 4 Boardman-to-Hemingway Project Update 5 Shoshone Falls, near Twin Falls, Idaho
Slide 4: Common Stock Dividend Raised 5.3%
(1) Common Stock Dividend Raised 5.3% “At this time, management expects to recommend to the Board of Directors future annual increases in the dividend of around 5%, with the intent to move over time toward the higher end of our target payout ratio of 60 to 70% of sustainable IDACORP earnings.” Lisa
Slide 5: Continuing Customer Growth Rate
Continuing Customer Growth Rate Idaho Power Customer Growth 2.5% (Year-over-year) 615,000 605,000 595,000 Residential growth 585,000 near Meridian, Idaho 575,000 565,000 555,000 545,000 Twelve Months 2018 2019 2020 2021 Ended Sept. 30, 2022 • Customer growth trends continue positive • Customer growt
Slide 6: Micron Expansion Drives Further Growth
Micron Expansion Drives Further Growth • Micron Technology, Inc. announced plans to invest ~$15 billion to construct a new memory manufacturing fab in Boise, Idaho • Co-located with Micron’s R&D center at the company’s headquarters • New fab will create over 17,000 new jobs, including approximately
Slide 7: 2023 Integrated Resource Plan Expected to Forecast Strong Growth
2023 Integrated Resource Plan (IRP) Expected to Forecast Strong Growth 2023 IRP Load Forecast vs. Prior IRPs* 5-Year Forecasted Annual 20-Year Forecasted Annual Growth Rate Growth Rate Retail Sales Annual Peak Retail Sales Annual Peak (Billed MWh) (Peak Demand) (Billed MWh) (Peak Demand) 2023 IRP* 6
Slide 8: Boardman to Hemingway Project Update
Boardman to Hemingway Project Update High-Voltage Transmission Line Project • Non-binding term sheet signed January 2022 regarding ownership structure; would increase Idaho Power’s ownership to ~45%; Idaho Power would provide transmission service to BPA’s customers across Southern Idaho – PacifiCorp
Slide 9: Contact Information
Contact Information Justin S. Forsberg Director of Investor Relations & Treasury (208) 388-2728 JForsberg@idacorpinc.com WWW.IDACORPINC.COM WWW.IDAHOPOWER.COM