Idaho Power Company Fixed Cost Adjustment Rate Increase Application

Office of the Secretary Service Date April 8, 2026

BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION

IN THE MATTER OF IDAHO POWER ) CASE NO. IPC-E-26-06 COMPANY'S APPLICATION FOR ) AUTHORITY TO IMPLEMENT FIXED ) COST ADJUSTMENT ("FCA") RATES FOR ) ELECTRIC SERVICE FROM JUNE 1, 2026 ) NOTICE OF MODIFIED THROUGH MAY 31, 2027 ) PROCEDURE ) ) ORDER NO. 36995

On March 13, 2026, Idaho Power Company ("Company") applied to the Idaho Public Utilities Commission ("Commission") requesting: (1) authorization to implement Fixed Cost Adjustment ("FCA") rates for the Residential classes and Small General Service classes, for electric service from June 1, 2026, through May 31, 2027; and (2) approval of the Company's corresponding Schedule 54, Fixed Cost Adjustment. The Company requested its Application be processed through modified procedure with an effective date of June 1, 2026. With this Order we issue notice of the Company's Application and set public comment and Company reply deadlines.

BACKGROUND

The FCA is a rate adjustment mechanism designed to break the link between the energy a utility sells and the revenue it collects to recover fixed costs of providing service, thus decoupling 1 the utility's revenues from its customers' energy usage. This decoupling removes a utility's incentive to increase sales to increase revenue and profits and encourages energy conservation. It applies to Residential and Small General Service customers.

YOU ARE HEREBY NOTIFIED that the Company represents that in 2024-2025 it under collected on the fixed costs it is authorized to recover in the amount of $2,025,793.18 ("2025 FCA Deferral Balance"). Id. at 5-7.

"Fixed costs" are a utility's cost to provide service, such as infrastructure and customer service, which do not vary 1 with energy use, output, or production, and remain relatively stable between rate cases.

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YOU ARE FURTHER NOTIFIED that the Company represents it intends to collect the 2025 FCA Deferral Balance by increasing the FCA rates for the Residential and Small General Service classes in 2026 and 2027. Id. at 7. YOU ARE FURTHER NOTIFIED that the Company represents that the proposed 2026- 2027 FCA rates will increase annual billed revenue by $5,117,270, or 0.65 percent, for the Residential and Small General Service classes. Id. YOU ARE FURTHER NOTIFIED that the Company represents that the 2026-2027 FCA rates will be a charge of 0.0330 cents per kWh for the Residential classes, and 0.0402 cents per kWh for the Small General Service classes. Id. The Company represents if the 2026-2027 FCA rates are approved, a residential customer who uses 900 kWh per month will see an increase of $0.75 on their monthly bill. Id. at 1-2. YOU ARE FURTHER NOTIFIED that the Company represents that notice to customers will be provided through the Company's current billing cycles and plans on the last notice being sent out on or about April 25, 2026. Id. at 8. YOU ARE FURTHER NOTIFIED that the Application is available for public inspection during regular business hours at the Commission's office. The Application is also available on the Commission's website at www.puc.idaho.gov. Click on the "ELECTRIC" icon, select "Open Cases," and click on the case number as shown on the front of this document. YOU ARE FURTHER NOTIFIED that all proceedings in this case will be held pursuant to the Commission's jurisdiction under Title 61 of the Idaho Code, and that all proceedings in this matter will be conducted pursuant to the Commission's Rules of Procedure, IDAPA 31.01.01.000

et seq.

YOU ARE FURTHER NOTIFIED that the Commission has determined that the public interest may not require a formal hearing in this matter, and that it will proceed under Modified Procedure pursuant to the Commission's Rules of Procedure 201-204, IDAPA 31.01.01.201-.204. The Commission notes that Modified Procedure and written comments have proven to be an effective means for obtaining public input and participation. YOU ARE FURTHER NOTIFIED that persons desiring to state a position on this Application may file a written comment explaining why the person supports or opposes the Application. Persons who would like a hearing must specifically request a hearing in their written

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comments and explain why written comments alone are insufficient. Persons interested in filing

written comments, must do so by May 12, 2026. Comments must be filed through the

Commission's website or by e-mail unless computer access is unavailable. To comment electronically, please access the Commission's website at http://www.puc.idaho.gov/. Click the "Case Comment Form" and complete the form using the case number as it appears on the front of this document. To file by e-mail, persons must e-mail the comments to the Commission Secretary and all parties at the e-mail addresses listed below. Persons submitting a comment by e-mail must provide their name, address, and the Case Number under which they are commenting. Persons submitting a comment by e-mail also acknowledge that submitting a comment in an open case constitutes a public record under Idaho Code § 74-101(13), and all information provided by such person is available for public and media inspection. If computer access is unavailable, then comments may be mailed to the Commission and the Parties at the addresses below. Persons submitting a comment by mail must provide their name, address, and the Case Number under which they are commenting. Persons submitting a comment by mail also acknowledge that submitting a comment in an open case constitutes a public record under Idaho Code § 74-101(13), and all information provided by such person is available for public and media inspection.

For the Idaho Public Utilities For the Company:

Commission:

Commission Secretary Lisa C. Lance Idaho Public Utilities Commission Megan Goicoechea Allen P.O. Box 83720 Timothy E. Tatum Boise, ID 83702-0074 Grant T. Anderson secretary@puc.idaho.gov Connor L. Allen Idaho Power Company 1221 West Idaho Street (83702) P.O. Box 70 Boise, ID 83707 llance@idahopower.com mgoicoecheaallen@idahopower.com dockets@idahopower.com ttatum@idahopower.com ganderson@idahopower.com callen idahopower.com

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YOU ARE FURTHER NOTIFIED that the Company must file any reply comments by

May 19, 2026.

YOU ARE FURTHER NOTIFIED that if no written comments or protests are received within the time limit set, the Commission will consider this matter on its merits and enter its final order without a formal hearing. If written comments are received within the time limit set, the Commission will consider them and, in its discretion, may set the same for formal hearing.

ORDER

IT IS HEREBY ORDERED that this Application be processed under Modified Procedure. Persons interested in submitting written comments must do so by May 12, 2026. The Company must file any reply comments by May 19, 2026. IT IS FURTHER ORDERED that parties comply with Order No. 35375, issued April 21,

1. Generally, all pleadings should be filed with the Commission electronically and will be deemed timely filed when received by the Commission Secretary. See Rule 14.02. Service between parties should continue to be accomplished electronically when possible. However, voluminous discovery-related documents may be filed and served on CD-ROM or a USB flash drive.

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DONE by Order of the Idaho Public Utilities Commission at Boise, Idaho this 8 day of th April, 2026. __________________________________________ EDWARD LODGE, PRESIDENT __________________________________________ JOHN R. HAMMOND JR., COMMISSIONER __________________________________________ DAYN HARDIE, COMMISSIONER ATTEST: Monica Barrios-Sanchez Commission Secretary

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