Slide 1: Investor Updates Winter 2022
Investor Updates Winter 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 Continuing Customer Growth Rate 1 2021 Integrated Resource Plan Forecasts Continuing Growth 2 Large Load Request Drives Further Growth 3 2021 Idaho Power IRP Preferred Portfolio (MWs) 4 Update on Requests for Proposals 5 Updated Coal Exit Timeline 6 Updated on Boardman-to-Hemingway
Slide 4: Continuing Customer Growth
Continuing Customer Growth 1 • >100k new customers since 2011 (last general rate case) • Customer growth, regional transmission constraints and other factors leading to new generation resource needs 2.9% 540,000 550,000 560,000 570,000 580,000 590,000 600,000 2017 2018 2019 2020 Idaho Power Customer
Slide 5: Integrated Resource Plan (IRP) Forecasts Continuing Growth
Integrated Resource Plan (IRP) Forecasts Continuing Growth 5-Year Forecasted Annual Growth Rate 20-Year Forecasted Annual Growth Rate Retail Sales (Billed MWh) Annual Peak (Peak Demand) Retail Sales (Billed MWh) Annual Peak (Peak Demand) 2021 IRP 2.6% 2.1% 1.4% 1.4% 2019 IRP 1.3% 1.4% 1.0% 1.2% 2017
Slide 6: Large Load Request Drives Further Growth
Large Load Request Drives Further Growth • Idaho Power filed a request with the Idaho Public Utilities Commission seeking approval of a special contract to provide energy service to a potential new, large-load customer (above 20MW). (IPC-E- 21-42) • Customer plans to build and operate an enterprise
Slide 7: 2021 Idaho Power IRP Preferred Portfolio (MWs)
2021 Idaho Power IRP Preferred Portfolio (MWs) Year Gas Wind Solar Storage Transmission Demand Response Coal Exit 2022 300 2023 120 115 20 (357) 2024 357 700 5 2025 300 105 20 (308) 2026 215 500 2027 250 5 2028 120 55 (175) 2029 100 255 2030 55 2031 55 2032 55 2033 100 2034 (357) 100 150 2035 100 30
Slide 8: Updates on Requests for Proposals
Updates on Requests for Proposals • Idaho Power customer growth & transmission constraints outside Idaho Power’s service area driving need for additional resources. • RFPs for up to 115MW to serve peak energy needs by summer 2023 currently being evaluated. • Upcoming RFPs to solicit resources to com
Slide 9: Updated Coal Exit Timeline
Updated Coal Exit Timeline 6 • Idaho Power and its partner are currently evaluating the conversion of Jim Bridger Units 1 & 2 to natural gas-fired by the end of 2024. *Idaho Power’s planned conversion, shut down and timing of Jim Bridger units is subject to a number of assumptions and uncertainties
Slide 10: Update on Boardman-to-Hemingway Ownership Stake
Update on Boardman-to-Hemingway Ownership Stake Reliable Affordable Clean • Idaho Power & Bonneville Power Administration (BPA) are negotiating Idaho Power’s purchase of BPA’s ownership of the B2H high-voltage transmission project. • Idaho Power believes it will acquire BPA’s share and own ~45 perce
Slide 11: Regulatory Commissioners
Regulatory Commissioners 8 Idaho Commissioner Term Expires Political Party Affiliation Eric Anderson 2025 Republican Paul Kjellander 2023* Republican Kristine Raper 2027 Democrat Oregon Commissioner Term Expires Political Party Affiliation Mark Thompson 2023 Republican Megan Decker 2025 Democrat Let
Slide 12: Upcoming Executive Changes
Upcoming Executive Changes Steve Keen IDACORP Senior Vice President & Chief Financial Officer Announced retirement, intended to be effective October 1, 2022 after 40 years of service. Brian Buckham IDACORP Senior Vice President & General Counsel Appointed to succeed Keen as Chief Financial Officer,
Slide 13: Contact Information
Contact Information Justin S. Forsberg Director of Investor Relations & Treasury (208) 388-2728 JForsberg@idacorpinc.com WWW.IDACORPINC.COM WWW.IDAHOPOWER.COM