Idaho Power on Aug. 21 filed rate change applications with the Idaho PUC that would increase its energy efficiency rider by $3.7 million and offset that with a $3.9 million decrease in revenue requirement related to its planned exit this fall from the Boardman coal-fired plant in Oregon.
If approved, the changes would go into effect Jan. 1, 2021, and would decrease the monthly bill of an average residential customer using 950 kWh by 2 cents.
"Continuing our path away from coal and emphasizing energy efficiency are two top-of-mind initiatives for Idaho Power," Idaho Power Senior VP and COO Adam Richins said in a statement. "This opportunity to provide additional funding for energy efficiency programs is a win-win for our company and our customers."
Idaho Power has a 10 percent, 58 MW stake in the north-central Oregon coal plant. The filing asks IPUC to determine the utility's Boardman investments made through June 30, 2020, as prudently incurred and to lower customer rates by $3.9 million due to full depreciation of its investments in the plant.
At 2.75 percent of base customer rate revenues, the current energy efficiency rider doesn’t cover the company's expenses, Idaho Power said. Increasing it by $3.7 million, to 3.1 percent, "will better align funding with current expenses," the utility said in the statement.