Article and photo courtesy of Idaho Association of Commerce & Industry
The recently enacted federal Tax Cuts and Jobs Act, as well as recent Idaho tax law changes, continue to provide opportunities for businesses to prosper. IACI Board member Idaho Power Company will experience $33.9 million in reduced tax expenses and has filed a proposal with the Idaho Public Utilities Commission (IPUC) that would result in reduced 2018 rates for the Company’s customers in its Idaho service area.
Three rate decreases have been submitted related to the following areas: tax reform benefits, annual Power Cost Adjustment (PCA) and the annual Fixed Cost Adjustment (FCA). If the IPUC approves the three proposals as filed, the Company’s residential customers will see a total price decrease of 7.04 percent effective June 1, 2018. The Company’s small and large general service and irrigation customers will also benefit from rate reductions between 4.25 and 5.52 percent.
With its diverse generation portfolio already providing some of the nation’s lowest electricity rates, Idaho Power’s new rate reduction proposals will benefit its over 2,000 employees, its over 540,000 customers, and the many communities in its service areas. IACI commends Idaho Power for its continuing commitment to being a great corporate neighbor all across Idaho and eastern Oregon!