{"product_id":"ida-vrio-analysis","title":"IDACORP, Inc. (IDA): VRIO Analysis [Mar-2026 Updated]","description":"\u003cbr\u003e\u003cp\u003eUnlock the secrets to IDACORP, Inc. (IDA)'s market position as we dissect its core capabilities through the rigorous VRIO lens. This analysis distills whether its current assets truly deliver sustainable competitive advantage by examining their Value, Rarity, Inimitability, and Organization. Dive in now to see the definitive verdict on what makes IDACORP, Inc. (IDA) uniquely powerful - or potentially vulnerable - in today's landscape.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: Exclusive Service Territory Monopoly (Regulated Asset Base)\n\u003c\/h2\u003e\n\n\u003cp\u003eYou’re looking at IDACORP, Inc.’s Idaho Power subsidiary, and the core of its stability is its geographic moat. This exclusive service territory isn't just a nice-to-have; it’s the foundation of its valuation, giving it a predictable, regulated revenue stream. It’s the difference between running a business in a free-for-all market and operating under a state-sanctioned agreement.\u003c\/p\u003e\n\n\u003ch3\u003eValue\u003c\/h3\u003e\n\u003cp\u003eThis monopoly status is definitely valuable because it locks in a customer base and revenue source. Idaho Power serves over 650,000 customers across a massive 24,000-square-mile footprint in Idaho and Oregon. This regulated structure means the Public Utility Commissions in those states allow them to recover costs and earn a set return on their asset base, which is crucial for the predictable returns investors look for in utilities. For context, the company’s Q3 2025 net income attributable to IDACORP was $124.4 million, showing the stability of this model even amidst infrastructure spending.\u003c\/p\u003e\n\n\u003ch3\u003eRarity\u003c\/h3\u003e\n\u003cp\u003eYes, this is rare in the broader economy, but standard for this sector. Exclusive service territories for regulated electric utilities are protected by state law - you can’t just start building a competing power grid next door. This isn't something a startup can replicate next quarter. The fact that IDACORP’s 2025 Integrated Resource Plan was filed with regulators in both Idaho and Oregon underscores that this operating structure is state-sanctioned.\u003c\/p\u003e\n\n\u003ch3\u003eImitability\u003c\/h3\u003e\n\u003cp\u003eIt is extremely difficult to imitate. You can’t buy this asset; you have to get the state legislature or the Public Utility Commissions to grant it, which almost never happens for established service areas. It’s a barrier to entry built by law, not by R\u0026amp;D spending. To replicate this, a competitor would need to navigate years of regulatory hurdles and political processes, which is practically impossible in the near term. This is why the stock trades on a utility multiple, not a growth multiple.\u003c\/p\u003e\n\n\u003ch3\u003eOrganization\u003c\/h3\u003e\n\u003cp\u003eAbsolutely. The entire IDACORP business model, specifically Idaho Power, is organized around serving and growing within this defined footprint. Their capital expenditure plans, like the anticipated $4 billion over five years for transmission and resources, are directly tied to planning for growth within this service area. The company’s structure, including its regulatory mechanisms in Idaho that affect earnings sharing above a certain Return on Equity (ROE), shows management is deeply integrated with this regulated reality.\u003c\/p\u003e\n\n\u003ch3\u003eCompetitive Advantage\u003c\/h3\u003e\n\u003cp\u003eThe advantage here is Sustained. Because the territory is legally protected and the cost to challenge it is prohibitive, this moat is durable as long as the regulatory framework remains intact. This is the definition of a long-term, structural advantage in the power sector.\u003c\/p\u003e\n\n\u003cp\u003eHere’s a quick look at the scale of this regulated asset base as of recent 2025 reporting periods:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue (2025 Data)\u003c\/th\u003e\n\u003cth\u003eSource Context\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eService Area Size\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e24,000\u003c\/strong\u003e square miles\u003c\/td\u003e\n\u003ctd\u003eIdaho and Oregon footprint\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomer Count\u003c\/td\u003e\n\u003ctd\u003eOver \u003cstrong\u003e650,000\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eResidential, business, and agricultural customers\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEstimated Annual Revenue\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$1.8B\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of October 2025 estimate\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e2025 Earnings Guidance (EPS)\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e$5.80 to $5.90\u003c\/strong\u003e per diluted share\u003c\/td\u003e\n\u003ctd\u003eFull-year expectation\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003eThe key takeaway is that this monopoly isn't just a historical artifact; it’s actively managed and quantified in their 2025 planning. What this estimate hides, though, is the regulatory risk - if the Idaho or Oregon commissions change the allowed ROE or cost recovery rules, the value proposition shifts quickly. Still, the physical footprint remains a massive barrier.\u003c\/p\u003e\n\n\u003cp\u003eFinance: draft the sensitivity analysis on ROE changes for the next board meeting by October 31st.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: Low-Cost Hydropower Generation Portfolio\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eLow-Cost Hydropower Generation Portfolio\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eValue: The 17 low-cost hydropower projects provide a stable, low-variable-cost energy source, underpinning customer affordability. Residential prices remain more than 20% lower than the national average.\u003c\/p\u003e\n\u003cp\u003eRarity: Moderately rare; while other utilities have hydro, this specific, established base is unique to their geography.\u003c\/p\u003e\n\u003cp\u003eImitability: Difficult; acquiring comparable, established, low-cost hydro assets is nearly impossible today.\u003c\/p\u003e\n\u003cp\u003eOrganization: Yes, this resource is central to their Integrated Resource Plan and cost management.\u003c\/p\u003e\n\u003cp\u003eCompetitive Advantage: Sustained.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eHydropower Portfolio Metrics and Energy Mix Data\u003c\/strong\u003e\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003e2024 Data\u003c\/td\u003e\n\u003ctd\u003e2023 Data\u003c\/td\u003e\n\u003ctd\u003e2022 Data\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eHydropower % of Total Energy Mix\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e38.2%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e36.8%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHydropower Generation (Million MWh)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e7.2\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e6.5\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHydropower % of Owned Generation\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e55%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e48%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eResidential Price vs. National Average\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003ctd\u003eMore than \u003cstrong\u003e20%\u003c\/strong\u003e lower\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003e\u003cstrong\u003eEnergy Mix Components (2024)\u003c\/strong\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eHydropower: \u003cstrong\u003e38.2%\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003cli\u003eLong-term Purchases (Wind, Solar, Other Renewables): \u003cstrong\u003e17.9%\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003cli\u003eNatural Gas: \u003cstrong\u003e19.2%\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003cli\u003eMarket Purchases: \u003cstrong\u003e12.4%\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003cli\u003eCoal: \u003cstrong\u003e12.3%\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cstrong\u003eHydropower Generation Guidance (Million MWh)\u003c\/strong\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003e2025 Estimate Range: \u003cstrong\u003e6.5 – 8.5\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003cli\u003e2024 Actual (Accrual Basis): \u003cstrong\u003e7.2\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003cli\u003e2023 Actual (Accrual Basis): \u003cstrong\u003e6.5\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: Favorable Regulatory Cost Recovery Mechanism\n\u003c\/h2\u003e\n\u003cp\u003eThe regulatory structure of Idaho Power, a subsidiary of IDACORP, Inc., provides a framework for cost recovery and earnings stability.\u003c\/p\u003e\n\u003ch\u003eValue\u003c\/h\u003e\n\u003cp\u003eThe regulatory framework supports an expected industry-leading rate base Compound Annual Growth Rate (CAGR) of 16.1% projected from 2025 through 2029. Management has boosted full-year 2025 diluted Earnings Per Share (EPS) guidance to the range of $5.80 to $5.90 per share. This guidance incorporates the expected utilization of investment tax credits.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003eValue\u003c\/td\u003e\n\u003ctd\u003ePeriod\/Context\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eProjected Rate Base CAGR\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e16.1%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e2025 - 2029\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e2025 EPS Guidance Range\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$5.80 to $5.90\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFull Year 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eExpected Additional ADITC Amortization\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$50 million to $60 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eADITC Amortization (YTD)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$39.0 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFirst Nine Months 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomer Base Size\u003c\/td\u003e\n\u003ctd\u003eOver \u003cstrong\u003e650,000\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eAs of March 31, 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomer Growth (Y\/Y)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e2.3%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of Q3 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003ch\u003eRarity\u003c\/h\u003e\n\u003cp\u003eSpecific mechanisms within the regulatory environment are moderately rare:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eThe ability to utilize a defined quantum of additional tax credits, with an expected $50 million to $60 million amortization for 2025.\u003c\/li\u003e\n\u003cli\u003eThe terms of the recent constructive settlement in the Idaho General Rate Case, pending Idaho Public Utilities Commission (IPUC) approval, which proposes a $110 million retail revenue increase effective January 1, 2026.\u003c\/li\u003e\n\u003cli\u003eThe settlement proposes a Return on Equity (ROE) of 9.6% and a rate of return of 7.410%.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch\u003eImitability\u003c\/h\u003e\n\u003cp\u003eThe mechanism is difficult to imitate as it is contingent upon successful negotiation and final approval from the Idaho Public Utilities Commission (IPUC). The process requires navigating the specific regulatory requirements for cost recovery and rate base expansion, such as the 2025 Integrated Resource Plan review.\u003c\/p\u003e\n\u003ch\u003eOrganization\u003c\/h\u003e\n\u003cp\u003eManagement demonstrates active organization through regulatory engagement:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eManagement actively manages filings to maximize recovery, evidenced by raising the 2025 EPS guidance range to $5.80 to $5.90.\u003c\/li\u003e\n\u003cli\u003eThe company has a capital expenditure plan of approximately $5.6 billion projected from 2025 through 2029 to support growth, which is subject to regulatory approval.\u003c\/li\u003e\n\u003cli\u003eHistorical regulatory agreements include provisions for sharing earnings with customers if the ROE exceeds 10.0%.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch\u003eCompetitive Advantage\u003c\/h\u003e\n\u003cp\u003eThe advantage is considered Temporary. While the current regulatory terms are beneficial, they are subject to change through future rate case filings and IPUC decisions. The process itself acts as a barrier to entry for new competitors, but the specific terms are not permanently locked in.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: Sustained Customer and Load Growth Trajectory\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Customer count grew by \u003cstrong\u003e2.3%\u003c\/strong\u003e in the twelve months ending September 30, 2025, adding approximately \u003cstrong\u003e15,000\u003c\/strong\u003e customers, bringing the total to approximately \u003cstrong\u003e655,000\u003c\/strong\u003e customers.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e Customer base grew \u003cstrong\u003e2.6%\u003c\/strong\u003e in 2024.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Not applicable; this is an external market factor the company capitalizes on.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Yes, the capital plan of \u003cstrong\u003e~$5.6 billion\u003c\/strong\u003e (2025-2029) is explicitly designed to meet this visible growth.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Temporary. (Dependent on regional economic health).\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003eValue\u003c\/td\u003e\n\u003ctd\u003ePeriod\/Context\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomer Count Growth (YoY)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e2.3%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eTwelve months ending September 30, 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNew Customers Added\u003c\/td\u003e\n\u003ctd\u003eApproximately \u003cstrong\u003e15,000\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eTwelve months ending September 30, 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Customers Served\u003c\/td\u003e\n\u003ctd\u003eApproximately \u003cstrong\u003e655,000\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eAs of September 30, 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e5-Year Retail Sales Growth Forecast\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e8.3%\u003c\/strong\u003e annually\u003c\/td\u003e\n\u003ctd\u003eIRP Forecast\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e5-Year Peak Demand Growth Forecast\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e5.1%\u003c\/strong\u003e annually\u003c\/td\u003e\n\u003ctd\u003eIRP Forecast\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapital Expenditure Forecast (2025-2029)\u003c\/td\u003e\n\u003ctd\u003eIncreased by approximately \u003cstrong\u003e20%\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eUpdated forecast\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIdaho Jurisdictional Revenue Increase (Settlement)\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e$110 million\u003c\/strong\u003e (\u003cstrong\u003e7.48%\u003c\/strong\u003e)\u003c\/td\u003e\n\u003ctd\u003eEffective January 1, 2026\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eIDACORP's capital program supports growth and reliability-driven infrastructure.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cp\u003eThe 2025 Integrated Resource Plan (IRP) projects:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cp\u003eRetail sales growth of \u003cstrong\u003e8.3%\u003c\/strong\u003e per year.\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003ePeak demand growth of \u003cstrong\u003e5.1%\u003c\/strong\u003e over the next five years.\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003eResidential rates are \u003cstrong\u003e30%\u003c\/strong\u003e below the national average.\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003eInfrastructure investments include a planned \u003cstrong\u003e167-megawatt\u003c\/strong\u003e addition to the Bennett Mountain gas-fired plant.\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: Robust Capital Expenditure Program \u0026amp; Infrastructure Pipeline\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e The projected capital plan is \u003cstrong\u003e~$5.6 billion\u003c\/strong\u003e from \u003cstrong\u003e2025 - 2029\u003c\/strong\u003e, supporting necessary system hardening, transmission upgrades (including Boardman to Hemingway), and resource procurement to meet demand. This capital plan supports a projected rate base CAGR of \u003cstrong\u003e~16.1%\u003c\/strong\u003e from \u003cstrong\u003e2025 - 2029\u003c\/strong\u003e.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e The scale of this multi-year, growth-driven capital expenditure is high for a regulated utility, with customer rates remaining \u003cstrong\u003e20% - 30%\u003c\/strong\u003e below the national average despite these investments. The company serves over \u003cstrong\u003e650,000 customers\u003c\/strong\u003e as of 2024, experiencing \u003cstrong\u003e2.6%\u003c\/strong\u003e customer growth in 2024.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Imitability is difficult, requiring securing financing and regulatory approval for large, specific, multi-jurisdictional projects like the B2H transmission line.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e The company is actively executing on this plan, with management stating they are 'preparing to start construction on its three major transmission projects' in 2025. The company achieved its \u003cstrong\u003e17th\u003c\/strong\u003e consecutive year of earnings growth in 2024.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Sustained, contingent upon the regulatory framework allowing for rate base recovery.\u003c\/p\u003e\n\u003cp\u003eKey Financial and Project Statistics:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003eValue\/Range\u003c\/td\u003e\n\u003ctd\u003eContext\/Notes\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Capital Plan (2025-2029)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e~$5.6 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eSupports industry-leading growth\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eProjected Rate Base CAGR (2025-2029)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e~16.1%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of February 20, 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBoardman to Hemingway (B2H) Total Cost\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$1 billion to $1.2 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eTotal capital expenditure for the project\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIdaho Power B2H Ownership Share\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e45%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003ePacifiCorp holds the remaining 55%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEstimated Idaho Power B2H Cost Share\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$250-450 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eIdaho Power's estimated portion of the cost\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eB2H Capacity\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e1000+ MW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eBi-directional power capacity\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eB2H Line Length\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e290-mile\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e500 kilovolt (kV) transmission line\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCoal Unit Conversion Target\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eBy 2030\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003ePlan to convert all remaining coal units to natural gas\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eInfrastructure and Energy Mix Details:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eThe company's goal is to provide \u003cstrong\u003e100%\u003c\/strong\u003e clean energy by \u003cstrong\u003e2045\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eIn 2024, the energy mix included \u003cstrong\u003e38.2%\u003c\/strong\u003e hydropower, \u003cstrong\u003e19.2%\u003c\/strong\u003e natural gas, \u003cstrong\u003e12.4%\u003c\/strong\u003e market purchases, and \u003cstrong\u003e12.3%\u003c\/strong\u003e coal.\u003c\/li\u003e\n\u003cli\u003eThe company added nearly \u003cstrong\u003e200 MW\u003c\/strong\u003e of new solar and battery storage in 2024.\u003c\/li\u003e\n\u003cli\u003eAs of 2024, \u003cstrong\u003e84 miles\u003c\/strong\u003e of powerlines were hardened under the Wildfire Mitigation Program.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: Commitment to Clean Energy Transition (100% by 2045)\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eCommitment to Clean Energy Transition (100% by 2045)\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eValue: Aligns with evolving investor\/societal expectations and provides a clear path for asset replacement, including exiting all coal by \u003cstrong\u003e2030\u003c\/strong\u003e.\u003c\/p\u003e\n\u003cp\u003eRarity: Moderately rare; while many aim for clean energy, a firm \u003cstrong\u003e2045\u003c\/strong\u003e goal with near-term coal exit is a strong differentiator.\u003c\/p\u003e\n\u003cp\u003eImitability: Difficult; requires massive, long-term capital reallocation and resource procurement strategies.\u003c\/p\u003e\n\u003cp\u003eOrganization: Yes, the \u003cstrong\u003e2025 Integrated Resource Plan\u003c\/strong\u003e directly maps out this transition with new solar and battery storage additions.\u003c\/p\u003e\n\u003cp\u003eCompetitive Advantage: Temporary. (As the industry moves toward cleaner sources, this becomes table stakes).\u003c\/p\u003e\n\u003cp\u003eThe transition is supported by significant projected capital deployment and resource planning:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eProjected peak demand growth over the next 20 years is nearly \u003cstrong\u003e45%\u003c\/strong\u003e, equating to approximately \u003cstrong\u003e1,700 MW\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eThe \u003cstrong\u003e2025–2029 IRP\u003c\/strong\u003e allocates \u003cstrong\u003e$5.6 billion\u003c\/strong\u003e in capital expenditures.\u003c\/li\u003e\n\u003cli\u003eThe 2023 context indicated an expected investment of around \u003cstrong\u003e$4 billion\u003c\/strong\u003e in capital expenditures over the five years following 2023.\u003c\/li\u003e\n\u003cli\u003eThe 2024 carbon emissions intensity from all sources was \u003cstrong\u003e571 pounds per MWh\u003c\/strong\u003e, a \u003cstrong\u003e52%\u003c\/strong\u003e reduction from the 2005 baseline.\u003c\/li\u003e\n\u003cli\u003eThe company is working to reduce emissions intensity by \u003cstrong\u003e35%\u003c\/strong\u003e for the 2021-2025 period from 2005 levels.\u003c\/li\u003e\n\u003cli\u003eNet rate base on coal-related assets related to North Valmy and Jim Bridger plants is approximately \u003cstrong\u003e$0.2 billion\u003c\/strong\u003e in the Idaho jurisdiction.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eThe 2025 Integrated Resource Plan details resource additions necessary to meet growth and clean energy targets:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eResource Type\u003c\/td\u003e\n\u003ctd\u003eSpecific Project\/Capacity Mentioned\u003c\/td\u003e\n\u003ctd\u003eNameplate Capacity (MW)\u003c\/td\u003e\n\u003ctd\u003eStatus\/Context\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSolar\u003c\/td\u003e\n\u003ctd\u003ePleasant Valley Solar\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e200 MW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eOnline by 2025 (ELCC 31.2%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSolar\u003c\/td\u003e\n\u003ctd\u003eBlacks Creek Solar\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e320 MW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eOnline by 2028 (ELCC 18.4%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSolar + Storage\u003c\/td\u003e\n\u003ctd\u003eCrimson Orchard Solar + BESS\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e100 MW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eOnline by 2027 (ELCC 66.0%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWind\u003c\/td\u003e\n\u003ctd\u003eJackalope Wind Project\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e600 MW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eOnline by 2027 (ELCC 16.5%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBattery Storage (4-Hour BESS)\u003c\/td\u003e\n\u003ctd\u003eHappy Valley and Kuna BESS\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e230 MW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eOnline by 2025 (ELCC 70.4%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBattery Storage (4-Hour BESS)\u003c\/td\u003e\n\u003ctd\u003eBoise Bench\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e150 MW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eOnline by 2026 (ELCC 44.0%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eThe 2023 energy mix relied heavily on hydropower, which accounted for \u003cstrong\u003e36.8%\u003c\/strong\u003e of energy in 2023, while coal accounted for \u003cstrong\u003e13%\u003c\/strong\u003e.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: High Operational Reliability and Customer Satisfaction\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eHigh Operational Reliability and Customer Satisfaction\u003c\/strong\u003e\u003c\/p\u003e\n\u003ch\u003e\u003ch\u003eValue\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eAchieving 99.97% reliability and top customer satisfaction scores reduces regulatory friction and customer attrition risk. The 99.96% reliability achieved in 2024 further supports this value proposition.\u003c\/p\u003e\n\u003ch\u003e\u003ch\u003eRarity\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eRare; top-tier reliability is hard to maintain while executing massive infrastructure builds. Capital Expenditures (Excluding AFUDC) for 2024 were forecasted between $925 – $975 million, with an average annual forecast of $1.1 billion over the next five years (as of early 2025).\u003c\/p\u003e\n\u003ch\u003e\u003ch\u003eImitability\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eDifficult; it stems from decades of operational excellence and culture, not just spending. The culture emphasizes safety, resulting in 2024 being the third-safest year in company history based on lost-time injuries.\u003c\/p\u003e\n\u003ch\u003e\u003ch\u003eOrganization\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eYes, the culture emphasizes safety and reliability, which translates directly to these metrics. Employee incentive compensation is tied to metrics including power system reliability and customer satisfaction.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Sustained.\u003c\/p\u003e\n\u003cp\u003eReliability and Customer Metrics:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003e2023 Value\u003c\/td\u003e\n\u003ctd\u003e2024 Value\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSystem Reliability (Lights On)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e99.97%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e99.96%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomers Served\u003c\/td\u003e\n\u003ctd\u003eMore than \u003cstrong\u003e630,000\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eMore than \u003cstrong\u003e650,000\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomer Growth (Annual)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e2.4%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e2.6%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eContextual Financial and Operational Data:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eCustomer electricity prices are maintained 20 to 30% below the national average.\u003c\/li\u003e\n\u003cli\u003eDemonstrated culture of controlling costs with a 1% CAGR over the past 12 years.\u003c\/li\u003e\n\u003cli\u003eTotal System Rate Base is forecasted to reach approximately $7.0 billion by the end of 2028, supported by ongoing capital investments.\u003c\/li\u003e\n\u003cli\u003eIdaho Power’s residential, business, and agricultural customers pay among the nation’s lowest prices for electricity.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: Strong Balance Sheet with No Holding Company Debt\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e The lack of holding company debt provides financial flexibility and a strong credit profile, reducing overall financing costs.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e Rare; many holding companies carry debt at the parent level.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Difficult; requires a long-term, disciplined financial strategy to keep debt solely at the operating subsidiary level.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Yes, this structure is a deliberate, long-standing feature of IDACORP’s financial management.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Sustained.\u003c\/p\u003e\n\u003cp\u003eIDACORP operates as a holding company with its principal operating subsidiary being Idaho Power Company. The structure dictates that debt securities issued by IDACORP are effectively subordinated to all existing and future claims of creditors of Idaho Power Company and other subsidiaries.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eFinancial Metric\u003c\/th\u003e\n\u003cth\u003eAmount\/Ratio\u003c\/th\u003e\n\u003cth\u003ePeriod\/Context\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Debt\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$3.07B\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of December 2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Debt\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$3.4B\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eGeneral Figure\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDebt-to-Equity Ratio\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e0.95\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eRecent\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Current Debt\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$0M\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eTwelve months ending September 30, 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Assets\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$10.08B\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eRecent Figure\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInterest Coverage Ratio\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e2x\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eRecent Figure\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eThe financial structure is supported by the following operational and debt characteristics:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eIDACORP's subsidiaries include Idaho Power Company, IDACORP Financial Services, Inc., and Ida-West Energy Company.\u003c\/li\u003e\n\u003cli\u003eIdaho Power may issue first mortgage bonds or other debt securities.\u003c\/li\u003e\n\u003cli\u003eIDACORP's common stock is listed on the NYSE under the symbol “IDA”.\u003c\/li\u003e\n\u003cli\u003eThe company achieved its \u003cstrong\u003e16th\u003c\/strong\u003e consecutive year of earnings growth in 2023.\u003c\/li\u003e\n\u003cli\u003eIDACORP expects to invest around \u003cstrong\u003e$4 billion\u003c\/strong\u003e in capital expenditures over the next five years.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eIDACORP, Inc. (IDA) - VRIO Analysis: Established Brand Reputation for Affordability and Stewardship\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Residential and business rates are stated to be much lower than the national average. A 2024 rate case resulted in a bill impact of less than $4 per month for an average residential customer. A proposed 2025 general rate case settlement, if approved, would result in an overall rate increase of $110 million, or 7.48%, for Idaho customers, translating to an estimated monthly bill increase of about $12.13 for an average residential customer using 900 kilowatt-hours per month.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e The foundation of low-cost energy is its 17 low-cost hydropower projects. The company is balancing this legacy with significant future investment, projecting capital expenditures between $1,000 – $1,100 million in 2025 (excluding AFUDC), up from $943 million in 2024.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e The operational history dates back to Idaho Power's local operation since 1916, with the holding company formed in 1998. This long-standing infrastructure and regulatory relationship are difficult to replicate.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e The company actively promotes its dual message, targeting 100% clean energy by 2045 and having added nearly 200 megawatts (MW) of solar and battery resources in 2024 to support this goal.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Sustained.\u003c\/p\u003e\n\u003cp\u003eFinancial Metrics Informing Cash View Potential:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003ePeriod\/Estimate\u003c\/td\u003e\n\u003ctd\u003eAmount (Millions USD unless noted)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eOperating Cash Flow (TTM)\u003c\/td\u003e\n\u003ctd\u003eLatest TTM\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$594.42\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapital Expenditures (Excluding AFUDC)\u003c\/td\u003e\n\u003ctd\u003e2025 Estimate\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$1,000 – $1,100\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapital Expenditures (Excluding AFUDC)\u003c\/td\u003e\n\u003ctd\u003e2024 Actual\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$943\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Income Attributable to IDACORP\u003c\/td\u003e\n\u003ctd\u003eFull Year 2024\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$289.2\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEarnings Per Diluted Share (EPS)\u003c\/td\u003e\n\u003ctd\u003eFull Year 2024 Actual\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$5.50\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEPS Guidance\u003c\/td\u003e\n\u003ctd\u003e2025 Estimate\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$5.65 – $5.85\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eOperational Statistics Supporting Brand Reputation:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eCustomer base growth in 2024 was 2.6% year over year, serving more than 650,000 customers.\u003c\/li\u003e\n\u003cli\u003eIdaho Power's hydropower generation estimate for 2025 is in the range of 6.5 – 8.5 (in MWh, likely in millions or a similar unit based on context).\u003c\/li\u003e\n\u003cli\u003eAdditional ADITC amortization expected for Idaho Power in 2025 is estimated between $60 – $77 million.\u003c\/li\u003e\n\u003cli\u003eTotal current liabilities were $634,076 million in 2023, increasing from $548,565 million in 2019.\u003c\/li\u003e\n\u003cli\u003eLong-term debt (including current portion) was $2,825,590 million in 2023.\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"dcf.fm","offers":[{"title":"Default Title","offer_id":45516184780949,"sku":"ida-vrio-analysis","price":7.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0630\/5189\/0837\/files\/ida-vrio-analysis.png?v=1740183414","url":"https:\/\/dcf-model.com\/products\/ida-vrio-analysis","provider":"AI-Powered Discounted Cash Flow Model Templates","version":"1.0","type":"link"}