Idaho Power 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2021	Apr. 23, 2021
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-14465
Entity Registrant Name	IDACORP, Inc.
Entity Tax Identification Number	82-0505802
Entity Address, Address Line One	1221 W. Idaho Street
Entity Address, City or Town	Boise,
Entity Address, State or Province	ID
Entity Address, Postal Zip Code	83702-5627
City Area Code	(208)
Local Phone Number	388-2200
Entity Current Reporting Status	Yes
Entity Incorporation, State or Country Code	ID
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	IDA
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		50,515,478
Entity Central Index Key	0001057877
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Information, Former Legal or Registered Name	None
Idaho Power Company
Document Information
Entity File Number	1-3198
Entity Registrant Name	Idaho Power Company
Entity Tax Identification Number	82-0130980
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		39,150,812
Entity Central Index Key	0000049648
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income Statement - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Revenues:
Electric utility revenues	$ 315,568	$ 290,488
Other operating revenues	486	520
Total operating revenues	316,054	291,008
Operating Expenses:
Purchased power	67,988	61,201
Fuel expense	33,306	30,015
Power cost adjustment	5,671	(3,391)
Other operations and maintenance	85,657	89,808
Energy efficiency programs	9,027	9,475
Depreciation	43,315	42,526
Taxes other than income taxes	9,327	9,141
Total electric utility expenses	254,291	238,775
Other	654	663
Total operating expenses	254,945	239,438
Operating Income	61,109	51,570
Nonoperating (Income) Expense:
Allowance for equity funds used during construction	(7,769)	(7,272)
Earnings of equity-method investments	(2,317)	(2,316)
Interest on long-term debt	21,036	19,662
Other interest	3,519	3,812
Allowance for borrowed funds used during construction	(3,005)	(2,730)
Other Income (Expense), Net	(241)	(932)
Total nonopearting expense, net	11,223	10,224
Income Before Income Taxes	49,886	41,346
Income Tax Expense	5,086	3,888
Net Income	44,800	37,458
Loss attributable to noncontrolling interests	31	32
Net Income Attributable to IDACORP, Inc.	$ 44,831	$ 37,490
Weighted-average common shares outstanding - basic	50,567	50,517
Weighted-average common shares outstanding - diluted	50,580	50,527
Earnings Per Share of Common Stock:
Earnings attributable to IDACORP, Inc. - basic (in dollars per share)	$ 0.89	$ 0.74
Earnings attributable to IDACORP, Inc. - diluted (in dollars per share)	$ 0.89	$ 0.74
Idaho Power Company
Operating Expenses:
Purchased power	$ 67,988	$ 61,201
Fuel expense	33,306	30,015
Power cost adjustment	5,671	(3,391)
Other operations and maintenance	85,657	89,808
Energy efficiency programs	9,027	9,475
Depreciation	43,315	42,526
Taxes other than income taxes	9,327	9,141
Total electric utility expenses	254,291	238,775
Operating Income	61,277	51,713
Nonoperating (Income) Expense:
Allowance for equity funds used during construction	(7,769)	(7,272)
Earnings of equity-method investments	(2,550)	(2,453)
Interest on long-term debt	21,036	19,662
Other interest	3,514	3,813
Allowance for borrowed funds used during construction	(3,005)	(2,730)
Other Income (Expense), Net	(191)	(469)
Total nonopearting expense, net	11,035	10,551
Income Before Income Taxes	50,242	41,162
Income Tax Expense	5,873	4,386
Net Income	$ 44,369	$ 36,776

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Income	$ 44,800	$ 37,458
Other Comprehensive Income:
Unfunded pension liability adjustment, net of tax	836	747
Total Comprehensive Income	45,636	38,205
Comprehensive (income) loss attributable to noncontrolling interests	31	32
Comprehensive Income Attributable to IDACORP, Inc.	45,667	38,237
Idaho Power Company
Net Income	44,369	36,776
Other Comprehensive Income:
Unfunded pension liability adjustment, net of tax	836	747
Total Comprehensive Income	$ 45,205	$ 37,523

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Unfunded pension liability adjustment, tax	$ 289	$ 259
Idaho Power Company
Unfunded pension liability adjustment, tax	$ 289	$ 259

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets Statement - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 240,007	$ 275,116
Short-term Investments	25,000	25,000
Receivables:
Customer	73,360	72,826
Other	20,708	12,661
Income taxes receivable	0	2,164
Accrued unbilled revenues	54,895	72,461
Materials and supplies (at average cost)	68,294	64,941
Fuel stock (at average cost)	29,261	31,646
Prepayments	16,580	20,184
Current regulatory assets	63,027	63,407
Other	2,760	1,995
Total current assets	593,892	642,401
Investments	122,862	126,948
Property, Plant and Equipment:
Utility plant in service	6,321,220	6,283,790
Accumulated provision for depreciation	(2,224,063)	(2,193,831)
Utility plant in service - net	4,097,157	4,089,959
Construction work in progress	617,265	597,152
Utility plant held for future use	4,109	4,109
Public Utilities, Property, Plant and Equipment, Other Property, Plant and Equipment	16,688	18,290
Property, plant and equipment - net	4,735,219	4,709,510
Other Assets:
Company-owned life insurance	63,507	62,382
Regulatory assets	1,503,256	1,495,488
Other	59,565	58,515
Total other assets	1,626,328	1,616,385
Total assets	7,078,301	7,095,244
Current Liabilities:
Accounts payable	81,602	120,576
Taxes accrued	34,501	19,508
Interest accrued	19,459	24,030
Accrued compensation	36,972	52,245
Current regulatory liabilities	27,697	11,104
Advances from customers	34,604	29,341
Other	27,037	30,767
Total current liabilities	261,872	287,571
Other Liabilities:
Deferred Income Tax Liabilities, Net	794,525	800,251
Regulatory liabilities	755,542	757,730
Pension and other postretirement benefits	641,113	634,070
Other	48,917	48,752
Total other liabilities	2,240,097	2,240,803
Long-Term Debt	2,000,471	2,000,414
Commitments and Contingencies
Equity:
Common stock	868,944	869,235
Retained earnings	1,742,994	1,734,103
Accumulated other comprehensive loss	42,522	43,358
Treasury stock	0	0
Total IDACORP, Inc. shareholders’ equity	2,569,416	2,559,980
Noncontrolling interests	6,445	6,476
Total equity	2,575,861	2,566,456
Total	7,078,301	7,095,244
Idaho Power Company
Current Assets:
Cash and cash equivalents	134,536	165,604
Receivables:
Customer	73,360	72,826
Other	21,051	12,457
Income taxes receivable	0	4,667
Accrued unbilled revenues	54,895	72,461
Materials and supplies (at average cost)	68,294	64,941
Fuel stock (at average cost)	29,261	31,646
Prepayments	16,441	20,057
Current regulatory assets	63,027	63,407
Other	2,760	1,995
Total current assets	463,625	510,061
Investments	85,442	87,848
Property, Plant and Equipment:
Utility plant in service	6,321,220	6,283,790
Accumulated provision for depreciation	(2,224,063)	(2,193,831)
Utility plant in service - net	4,097,157	4,089,959
Construction work in progress	617,265	597,152
Utility plant held for future use	4,109	4,109
Public Utilities, Property, Plant and Equipment, Other Property, Plant and Equipment	3,640	5,123
Property, plant and equipment - net	4,722,171	4,696,343
Other Assets:
Company-owned life insurance	63,507	62,382
Regulatory assets	1,503,256	1,495,488
Other	55,075	53,988
Total other assets	1,621,838	1,611,858
Total assets	6,893,076	6,906,110
Current Liabilities:
Accounts payable	81,529	120,476
Accounts payable to affiliates	118	1,720
Taxes accrued	32,369	19,554
Interest accrued	19,415	24,030
Accrued compensation	36,834	52,036
Current regulatory liabilities	27,697	11,104
Advances from customers	34,604	29,341
Other	16,907	16,717
Total current liabilities	249,473	274,978
Other Liabilities:
Deferred Income Tax Liabilities, Net	825,179	829,146
Regulatory liabilities	755,542	757,730
Pension and other postretirement benefits	641,113	634,070
Other	48,199	45,937
Total other liabilities	2,270,033	2,266,883
Long-Term Debt	2,000,471	2,000,414
Commitments and Contingencies
Equity:
Common stock	97,877	97,877
Premium on capital stock	712,258	712,258
Capital stock expense	(2,097)	(2,097)
Retained earnings	1,607,583	1,599,155
Accumulated other comprehensive loss	(42,522)	(43,358)
Total equity	2,373,099	2,363,835
Total	$ 6,893,076	$ 6,906,110

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss, Current	$ 5,088	$ 4,766
Allowance for Doubtful Other Receivables, Current	$ 561	$ 497
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	120,000,000	120,000,000
Common Stock, Shares, Issued	50,515,478	50,462,000
Treasury Stock, Shares	0	0
Idaho Power Company
Accounts Receivable, Allowance for Credit Loss, Current	$ 5,088	$ 4,766
Allowance for Doubtful Other Receivables, Current	$ 561	$ 497
Common Stock, Par or Stated Value Per Share	$ 2.50	$ 2.50
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	39,151,000	39,151,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Activities:
Net Income	$ 44,800	$ 37,458
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	44,286	43,666
Deferred income taxes and investment tax credits	(3,390)	(1,379)
Changes in regulatory assets and liabilities	2,833	(9,672)
Pension and postretirement benefit plan expense	7,367	7,260
Contributions to pension and postretirement benefit plans	(918)	(12,270)
Earnings of equity-method investments	(2,317)	(2,316)
Distributions from equity-method investments	2,550	2,000
Allowance for equity funds used during construction	(7,769)	(7,272)
Other non-cash adjustments to net income, net	3,238	3,490
Change in:
Accounts receivable	(3,451)	5,102
Accounts payable and other accrued liabilities	(42,219)	(49,389)
Taxes accrued/receivable	17,156	12,932
Other current assets	19,403	1,268
Other current liabilities	2,425	5,122
Other assets	(2,234)	(1,925)
Other liabilities	1,902	(279)
Net cash provided by operating activities	83,662	33,796
Investing Activities:
Additions to property, plant and equipment	(77,293)	(73,566)
Payments received from transmission project joint funding partners	1,096	393
Investments in affordable housing	5,335	1,936
Purchases of equity securities	171	3,230
Purchases of short-term investments	(25,000)	0
Maturities of Short-term Investments	25,000	0
Proceeds from the sale of equity securities	1,557	839
Other	797	3,826
Net cash used in investing activities	(79,349)	(73,674)
Financing Activities:
Dividends on common stock	(36,379)	(34,312)
Tax Withholding on net settlements of share-based awards	3,026	4,183
Other	17	10
Net cash (used in) provided by financing activities	(39,422)	(38,505)
Net increase (decrease) in cash and cash equivalents	(35,109)	(78,383)
Cash and cash equivalents at beginning of the period	275,116	217,254
Cash and cash equivalents at end of the period	240,007	138,871
Supplemental Disclosure of Cash Flow Information:
Interest (net of amount capitalized)	25,306	19,887
Non-cash investing activities:
Additions to property, plant and equipment in accounts payable	27,910	22,843
Idaho Power Company
Operating Activities:
Net Income	44,369	36,776
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	44,138	43,505
Deferred income taxes and investment tax credits	(2,958)	(1,207)
Changes in regulatory assets and liabilities	2,833	(9,672)
Pension and postretirement benefit plan expense	7,367	7,260
Contributions to pension and postretirement benefit plans	(918)	(12,270)
Earnings of equity-method investments	(2,550)	(2,453)
Distributions from equity-method investments	2,550	2,000
Allowance for equity funds used during construction	(7,769)	(7,272)
Other non-cash adjustments to net income, net	528	867
Change in:
Accounts receivable	(5,600)	4,161
Accounts payable and other accrued liabilities	(42,193)	(49,344)
Taxes accrued/receivable	17,482	22,446
Other current assets	19,414	1,297
Other current liabilities	2,451	5,207
Other assets	(2,245)	(1,935)
Other liabilities	2,003	(180)
Net cash provided by operating activities	78,902	39,186
Investing Activities:
Additions to property, plant and equipment	(77,293)	(73,566)
Payments received from transmission project joint funding partners	1,096	393
Purchases of equity securities	171	3,230
Proceeds from the sale of equity securities	1,557	839
Other	797	3,796
Net cash used in investing activities	(74,014)	(71,768)
Financing Activities:
Dividends on common stock	(35,941)	(33,952)
Other	(15)	(4)
Net cash (used in) provided by financing activities	(35,956)	(33,948)
Net increase (decrease) in cash and cash equivalents	(31,068)	(66,530)
Cash and cash equivalents at beginning of the period	165,604	98,950
Cash and cash equivalents at end of the period	134,536	32,420
Supplemental Disclosure of Cash Flow Information:
Income taxes	0	(9,189)
Interest (net of amount capitalized)	25,346	19,888
Non-cash investing activities:
Additions to property, plant and equipment in accounts payable	$ 27,910	$ 22,843

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity $ in Thousands	USD ($)
Balance at beginning of period at Dec. 31, 2019	$ 868,307
Common Stock
Share-based compensation Expense	2,624
Withholding on net settlements of share-based awards	(4,183)
Treasury Stock Issued	(1,920)
Other common stock changes	22
Balance at end of period at Mar. 31, 2020	864,850
Balance at beginning of period at Dec. 31, 2019	1,634,525
Retained Earnings
Net Income Attributable to IDACORP, Inc.	37,490
Common stock dividends	(33,950)
Balance at end of period at Mar. 31, 2020	1,638,065
AOCI - Beginning Balance at Dec. 31, 2019	(36,284)
Accumulated Other Comprehensive (Loss) Income
Unfunded pension liability adjustment, net of tax	747
AOCI - Ending Balance at Mar. 31, 2020	(35,537)
Balance at beginning of period at Dec. 31, 2019	(1,920)
Treasury Stock
Issued	1,920
Balance at end of period at Mar. 31, 2020	0
Balance at beginning of period at Dec. 31, 2019	5,925
Noncontrolling Interests
Loss attributable to noncontrolling interests	(32)
Balance at end of period at Mar. 31, 2020	5,893
Treasury Stock
Total IDACORP, Inc. shareholders’ equity at end of period	2,467,378
Noncontrolling Interests
Total equity at end of period	2,473,271
Total IDACORP, Inc. shareholders’ equity at end of period	2,559,980
Total equity at end of period	2,566,456
Balance at beginning of period at Dec. 31, 2020	869,235
Common Stock
Share-based compensation Expense	2,710
Withholding on net settlements of share-based awards	(3,026)
Treasury Stock Issued	0
Other common stock changes	25
Balance at end of period at Mar. 31, 2021	868,944
Balance at beginning of period at Dec. 31, 2020	1,734,103
Retained Earnings
Net Income Attributable to IDACORP, Inc.	44,831
Common stock dividends	(35,940)
Balance at end of period at Mar. 31, 2021	1,742,994
AOCI - Beginning Balance at Dec. 31, 2020	(43,358)
Accumulated Other Comprehensive (Loss) Income
Unfunded pension liability adjustment, net of tax	836
AOCI - Ending Balance at Mar. 31, 2021	(42,522)
Balance at beginning of period at Dec. 31, 2020	0
Treasury Stock
Issued	0
Balance at end of period at Mar. 31, 2021	0
Balance at beginning of period at Dec. 31, 2020	6,476
Noncontrolling Interests
Loss attributable to noncontrolling interests	(31)
Balance at end of period at Mar. 31, 2021	6,445
Treasury Stock
Total IDACORP, Inc. shareholders’ equity at end of period	2,569,416
Noncontrolling Interests
Total equity at end of period	$ 2,575,861

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Dividends Declared Per Share of Common Stock	$ 0.71	$ 0.67

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This Quarterly Report on Form 10-Q is a combined report of IDACORP, Inc. (IDACORP) and Idaho Power Company (Idaho Power). Therefore, these Notes to Condensed Consolidated Financial Statements apply to both IDACORP and Idaho Power. However, Idaho Power makes no representation as to the information relating to IDACORP’s other operations. Nature of Business IDACORP is a holding company formed in 1998 whose principal operating subsidiary is Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity with a service area covering approximately 24,000 square miles in southern Idaho and eastern Oregon. Idaho Power is regulated primarily by the state utility regulatory commissions of Idaho and Oregon and the Federal Energy Regulatory Commission (FERC). Idaho Power is the parent of Idaho Energy Resources Co. (IERCo), a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger generating plant (Jim Bridger plant) owned in part by Idaho Power. IDACORP’s significant other wholly-owned subsidiaries include IDACORP Financial Services, Inc. (IFS), an investor in affordable housing and other real estate tax credit investments, and Ida-West Energy Company (Ida-West), an operator of small hydropower generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978 (PURPA). Regulation of Utility Operations As a regulated utility, many of Idaho Power's fundamental business decisions are subject to the approval of governmental agencies, including the prices that Idaho Power is authorized to charge for its electric service. These approvals are a critical factor in determining IDACORP's and Idaho Power's results of operations and financial condition. IDACORP's and Idaho Power's financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. The application of accounting principles related to regulated operations sometimes results in Idaho Power recording expenses and revenues in a different period than when an unregulated enterprise would record such expenses and revenues. In these instances, the amounts are deferred or accrued as regulatory assets or regulatory liabilities on the balance sheet. Regulatory assets represent incurred costs that have been deferred because it is probable they will be recovered from customers through future rates. Regulatory liabilities represent obligations to make refunds to customers for previous collections, or represent amounts collected in advance of incurring an expense. The effects of applying these regulatory accounting principles to Idaho Power's operations are discussed in more detail in Note 3 - "Regulatory Matters." Financial Statements In the opinion of management of IDACORP and Idaho Power, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly each company's consolidated financial position as of March 31, 2021, consolidated results of operations for the three months ended March 31, 2021 and 2020, and consolidated cash flows for the three months ended March 31, 2021 and 2020. These adjustments are of a normal and recurring nature. These financial statements do not contain the complete detail or note disclosures concerning accounting policies and other matters that would be included in full-year financial statements and should be read in conjunction with the audited consolidated financial statements included in IDACORP’s and Idaho Power’s Annual Report on Form 10-K for the year ended December 31, 2020 (2020 Annual Report). The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. A change in management's estimates or assumptions could have a material impact on IDACORP's or Idaho Power's respective financial condition and results of operations during the period in which such change occurred. Management Estimates Management makes estimates and assumptions when preparing financial statements in conformity with generally accepted accounting principles. These estimates and assumptions include those related to rate regulation, retirement benefits, contingencies, asset impairment, income taxes, unbilled revenues, and bad debt. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, future economic factors that are difficult to predict and are beyond management's control. Accordingly, actual results could differ from those estimates. Reclassifications Idaho Power changed the presentation of its consolidated statements of income from a utility format to a traditional format. The changes revised the order of certain line items and did not result in any material changes in classification of amounts between line items. In the condensed consolidated statements of income, certain amounts in prior periods' consolidated statements of income have been reclassified to conform with current period presentation. On IDACORP's and Idaho Power's condensed consolidated statements of income for the three months ended March 31, 2020, $0.5 million that had previously been reported as "Other" within "Operating Expenses" and "Other expense, net" within "Other Income (Expense)" respectively, were reclassified to "Other electric utility operating expenses" and "Other operating expenses" within "Operating Expenses," respectively. New and Recently Adopted Accounting Pronouncements There have been no recently issued accounting pronouncements that have had or are expected to have a material impact on IDACORP's or Idaho Power's consolidated financial statements.
Reclassifications	Idaho Power changed the presentation of its consolidated statements of income from a utility format to a traditional format. The changes revised the order of certain line items and did not result in any material changes in classification of amounts between line items.In the condensed consolidated statements of income, certain amounts in prior periods' consolidated statements of income have been reclassified to conform with current period presentation. On IDACORP's and Idaho Power's condensed consolidated statements of income for the three months ended March 31, 2020, $0.5 million that had previously been reported as "Other" within "Operating Expenses" and "Other expense, net" within "Other Income (Expense)" respectively, were reclassified to "Other electric utility operating expenses" and "Other operating expenses" within "Operating Expenses," respectively.
New Accounting Pronouncements	There have been no recently issued accounting pronouncements that have had or are expected to have a material impact on IDACORP's or Idaho Power's consolidated financial statements.

INCOME TAXES_

INCOME TAXES:	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In accordance with interim reporting requirements, IDACORP and Idaho Power use an estimated annual effective tax rate for computing their provisions for income taxes. An estimate of annual income tax expense (or benefit) is made each interim period using estimates for annual pre-tax income, income tax adjustments, and tax credits. The estimated annual effective tax rates do not include discrete events such as tax law changes, examination settlements, accounting method changes, or adjustments to tax expense or benefits attributable to prior years. Discrete events are recorded in the interim period in which they occur or become known. The estimated annual effective tax rate is applied to year-to-date pre-tax income to determine income tax expense (or benefit) for the interim period consistent with the annual estimate. In subsequent interim periods, income tax expense (or benefit) for the period is computed as the difference between the year-to-date amount reported for the previous interim period and the current period's year-to-date amount. Income Tax Expense The following table provides a summary of income tax expense for the three months ended March 31, 2021 and 2020 (in thousands): IDACORP Idaho Power 2021 2020 2021 2020 Income tax at statutory rates (federal and state) $ 12,849 $ 10,651 $ 12,932 $ 10,595 Excess deferred income tax reversal (1,606) (1,481) (1,606) (1,481) Other (1) (6,157) (5,282) (5,453) (4,728) Income tax expense $ 5,086 $ 3,888 $ 5,873 $ 4,386 Effective tax rate 10.2 % 9.4 % 11.7 % 10.7 % (1) "Other" is primarily comprised of the net tax effect of Idaho Power's regulatory flow-through tax adjustments. The increase in income tax expense for the three months ended March 31, 2021, compared with the same period in 2020, was primarily due to higher pre-tax earnings. On a net basis, Idaho Power’s estimate of its annual 2021 regulatory flow-through tax adjustments is comparable to 2020.

REGULATORY MATTERS_

REGULATORY MATTERS:	3 Months Ended
	Mar. 31, 2021
Public Utilities, Rate Matters [Abstract]
Regulatory Matters	REGULATORY MATTERS Included below is a summary of Idaho Power's most recent general rate cases and base rate changes, as well as other recent or pending notable regulatory matters and proceedings. Idaho and Oregon General Rate Cases Idaho Power's current base rates result from orders from the Idaho Public Utilities Commission (IPUC) and Public Utility Commission of Oregon (OPUC), as described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2020 Annual Report. Idaho Settlement Stipulations A May 2018 Idaho settlement stipulation related to tax reform (May 2018 Idaho Tax Reform Settlement Stipulation) is described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2020 Annual Report and includes provisions for the accelerated amortization of accumulated deferred investment tax credits (ADITC) to help achieve a minimum 9.4 percent return on year-end equity in the Idaho jurisdiction (Idaho ROE). In addition, under the May 2018 Idaho Tax Reform Settlement Stipulation, minimum Idaho ROE would revert back to 95 percent of the authorized return on equity in the next general rate case. The settlement stipulation also provides for the potential sharing between Idaho Power and Idaho customers of Idaho-jurisdictional earnings in excess of 10.0 percent of Idaho ROE. Based on its estimate of full-year 2021 Idaho ROE, in the first quarter of 2021, Idaho Power recorded no additional ADITC amortization or provision against current revenues for sharing of earnings with customers for 2021 under the May 2018 Idaho Tax Reform Settlement Stipulation. Accordingly, at March 31, 2021, the full $45 million of additional ADITC remains available for future use. Idaho Power recorded no additional ADITC amortization or provision against revenues for sharing of earnings with customers during the first quarter of 2020, based on its then-current estimate of full-year 2020 Idaho ROE. Idaho Power Cost Adjustment Mechanisms In both its Idaho and Oregon jurisdictions, Idaho Power's power cost adjustment mechanisms address the volatility of power supply costs and provide for annual adjustments to the rates charged to its retail customers. The power cost adjustment mechanisms compare Idaho Power's actual net power supply costs (primarily fuel and purchased power less wholesale energy sales) against net power supply costs being recovered in Idaho Power's retail rates. Under the power cost adjustment mechanisms, certain differences between actual net power supply costs incurred by Idaho Power and costs being recovered in retail rates are recorded as a deferred charge or credit on the balance sheet for future recovery or refund. The power supply costs deferred primarily result from changes in contracted power purchase prices and volumes, changes in wholesale market prices and transaction volumes, fuel prices, and the levels of Idaho Power's own generation. On April 15, 2021, Idaho Power filed an application with the IPUC requesting a $39.1 million net increase in Idaho-jurisdiction power cost adjustment (PCA) revenues, effective for the 2021-2022 PCA collection period from June 1, 2021 to May 31, 2022. The net increase in PCA revenues reflec ts a forecasted reduction in low-cost hydroelectric generation as well as higher costs associated with higher forecasted PURPA power purchases. The net increase in PCA revenues also reflects a smaller credit to customers through the true-up component. As o f the date of this report, the IPUC has not yet issued an order on the application. Idaho Fixed Cost Adjustment Mechanism The Idaho jurisdiction fixed cost adjustment (FCA) mechanism, applicable to Idaho residential and small general service customers, is designed to remove a portion of Idaho Power’s financial disincentive to invest in energy efficiency programs by separating (or decoupling) the recovery of fixed costs from the variable kilowatt-hour charge and linking it instead to a set amount per customer. Under Idaho Power's current rate design, Idaho Power recovers a portion of fixed costs through the variable kilowatt-hour charge, which may result in over-collection or under-collection of fixed costs. To return over-collection to customers or to collect under-collection from customers, the FCA mechanism allows Idaho Power to accrue, or defer, the difference between the authorized fixed-cost recovery amount per customer and the actual fixed costs per customer recovered by Idaho Power during the year. The IPUC has discretion to cap the annual increase in the FCA recovery at 3 percent of base revenue, with any excess deferred for collection in a subsequent year. In March 2021, Idaho Power filed its annual FCA update with the IPUC requesting an increase of $2.8 million in recovery from the FCA from $35.5 million to $38.3 million,

REVENUES_ (Notes)

REVENUES: (Notes)	3 Months Ended
	Mar. 31, 2021
Revenues [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUES The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power for the three months ended March 31, 2021 and 2020 (in thousands): Three months ended 2021 2020 Electric utility operating revenues: Revenue from contracts with customers $ 291,327 $ 270,184 Alternative revenue programs and other revenues 24,241 20,304 Total electric utility operating revenues $ 315,568 $ 290,488 Revenues from Contracts with Customers The following table presents revenues from contracts with customers disaggregated by revenue source for the three months ended March 31, 2021 and 2020 (in thousands): Three months ended 2021 2020 Revenues from contracts with customers: Retail revenues: Residential (includes $15,822 and $15,710, respectively, related to the FCA) (1) $ 154,785 $ 144,887 Commercial (includes $482 and $484, respectively, related to the FCA) (1) 72,269 69,513 Industrial 45,430 42,760 Irrigation 1,086 1,375 Deferred revenue related to HCC relicensing AFUDC (2) (2,119) (2,119) Total retail revenues 271,451 256,416 Less: FCA mechanism revenues (1) (16,304) (16,194) Wholesale energy sales 6,259 3,908 Transmission wheeling-related revenues 14,467 10,363 Energy efficiency program revenues 9,027 9,475 Other revenues from contracts with customers 6,427 6,216 Total revenues from contracts with customers $ 291,327 $ 270,184 (1) The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers. (2) The IPUC allows Idaho Power to recover a portion of the allowance for funds used during construction (AFUDC) on construction work in progress related to the Hells Canyon Complex (HCC) relicensing process, even though the relicensing process is not yet complete and the costs have not been moved to electric plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service. Alternative Revenue Programs and Other Revenues While revenues from contracts with customers make up most of Idaho Power’s revenues, the IPUC has authorized the use of an additional regulatory mechanism, the Idaho FCA mechanism, which may increase or decrease tariff-based customer rates. The Idaho FCA mechanism is described in Note 3 - "Regulatory Matters." The FCA mechanism revenues include only the initial recognition of FCA revenues when they meet the regulator-specified conditions for recognition. Revenue from contracts with customers excludes the portion of the tariff price representing FCA revenues that Idaho Power initially recorded in prior periods when revenues met regulator-specified conditions. When Idaho Power includes those amounts in the price of utility service billed to customers, Idaho Power records such amounts as recovery of the associated regulatory asset or liability and not as revenues. Derivative revenues include gains from settled electricity swaps and sales of electricity under forward sales contracts that are bundled with renewable energy credits. Related to these forward sales, Idaho Power simultaneously enters into forward purchases of electricity for the same quantity at the same location, which are recorded in purchased power on the condensed consolidated statements of income. For more information on settled electricity swaps, see Note 10 - "Derivative Financial Instruments." The table below presents the FCA mechanism revenues and other revenues for the three months ended March 31, 2021 and 2020 (in thousands): Three months ended 2021 2020 Alternative revenue programs and other revenues: FCA mechanism revenues $ 16,304 16,194 Derivative revenues 7,937 4,110 Total alternative revenue programs and other revenues $ 24,241 $ 20,304 Receivables and Allowance for Uncollectible Accounts In response to the COVID-19 pandemic, Idaho Power provided certain relief to customers, including temporarily suspending disconnections for customers and temporarily waiving late fees. This relief as well as the economic conditions created by the response to COVID-19 have resulted in higher aged accounts receivable and an increase in the number of late payments. Idaho Power expects higher uncollectible account write-offs as a result of the COVID-19 pandemic and, accordingly, increased its allowance for uncollectible accounts related to customer receivables at March 31, 2021. The allowance for uncollectible accounts increased to 6.5 percent of the total customer receivables balance at March 31, 2021, compared with 6.1 percent at December 31, 2020, and 3.1 percent at March 31, 2020. The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables for the three months ended March 31, 2021 and 2020 (in thousands): Three months ended 2021 2020 Balance at beginning of period $ 4,766 $ 1,401 Additions to the allowance 488 983 Write-offs, net of recoveries (166) (216) Balance at end of period $ 5,088 $ 2,168 Allowance for uncollectible accounts as a percentage of customer receivables 6.5 % 3.1 %

COMMON STOCK_

COMMON STOCK:	3 Months Ended
	Mar. 31, 2021
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Common Stock	COMMON STOCK IDACORP Common Stock During the three months ended March 31, 2021, IDACORP granted 76,147 restricted stock unit awards to employees and issued 53,593 shares of common stock using original issuances of shares pursuant to the IDACORP, Inc. 2000 Long-Term Incentive and Compensation Plan, including 11,878 shares of common stock issued to members of the board of directors. As directed by IDACORP, plan administrators of the IDACORP, Inc. Dividend Reinvestment and Stock Purchase Plan and Idaho Power Company Employee Savings Plan used market purchases of IDACORP common stock to acquire shares of IDACORP common stock for the plans. Restrictions on Dividends Idaho Power’s ability to pay dividends on its common stock held by IDACORP and IDACORP’s ability to pay dividends on its common stock are limited to the extent payment of such dividends would violate the covenants in their respective credit facilities or Idaho Power’s Revised Code of Conduct. A covenant under IDACORP’s credit facility and Idaho Power’s credit facility requires IDACORP and Idaho Power to maintain leverage ratios of consolidated indebtedness to consolidated total capitalization, as defined therein, of no more than 65 percent at the end of each fiscal quarter. At March 31, 2021, the leverage ratios for IDACORP and Idaho Power were 44 percent and 46 percent, respectively. Based on these restrictions, IDACORP’s and Idaho Power’s dividends were limited to $1.5 billion and $1.3 billion, respectively, at March 31, 2021. There are additional facility covenants, subject to exceptions, that prohibit or restrict the sale or disposition of property without consent and any agreements restricting dividend payments to IDACORP and Idaho Power from any material subsidiary. At March 31, 2021, IDACORP and Idaho Power were in compliance with those financial covenants. Idaho Power’s Revised Code of Conduct relating to transactions between and among Idaho Power, IDACORP, and other affiliates, which was approved by the IPUC in April 2008, provides that Idaho Power will not pay any dividends to IDACORP that will reduce Idaho Power’s common equity capital below 35 percent of its total adjusted capital without IPUC approval. At March 31, 2021, Idaho Power's common equity capital was 54 percent of its total adjusted capital. Further, Idaho Power must obtain approval from the OPUC before it can directly or indirectly loan funds or issue notes or give credit on its books to IDACORP. Idaho Power’s articles of incorporation contain restrictions on the payment of dividends on its common stock if preferred stock dividends are in arrears. As of the date of this report, Idaho Power has no preferred stock outstanding. In addition to contractual restrictions on the amount and payment of dividends, the Federal Power Act (FPA) prohibits the payment of dividends from "capital accounts." The term "capital account" is undefined in the FPA or its regulations, but Idaho Power does not believe the restriction would limit Idaho Power's ability to pay dividends out of current year earnings or retained earnings.

EARNINGS PER SHARE_

EARNINGS PER SHARE:	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The table below presents the computation of IDACORP’s basic and diluted earnings per share for the three months ended March 31, 2021 and 2020 (in thousands, except for per share amounts). Three months ended 2021 2020 Numerator: Net income attributable to IDACORP, Inc. $ 44,831 $ 37,490 Denominator: Weighted-average common shares outstanding - basic 50,567 50,517 Effect of dilutive securities 13 10 Weighted-average common shares outstanding - diluted 50,580 50,527 Basic earnings per share $ 0.89 $ 0.74 Diluted earnings per share $ 0.89 $ 0.74

COMMITMENTS_

COMMITMENTS:	3 Months Ended
	Mar. 31, 2021
Disclosure Text Block Supplement [Abstract]
Commitments	COMMITMENTS Purchase Obligations During the three months ended March 31, 2021, IDACORP's and Idaho Power's contractual obligations, outside the ordinary course of business, did not change materially from the amounts disclosed in the notes to the consolidated financial statements in the 2020 Annual Report, except that Idaho Power entered into two new long-term transmission purchase agreements, which increased Idaho Power's contractual purchase obligations by approximately $16 million over the 5-year terms of the contracts, and one new replacement contract for an expiring power purchase agreement with a PURPA-qualifying hydropower facility, which increased Idaho Power's contractual purchase obligations by approximately $15 million over the 20-year term of the contract. Guarantees Idaho Power guarantees its portion of reclamation activities and obligations at BCC, of which IERCo owns a one-third interest. This guarantee, which is renewed annually with the Wyoming Department of Environmental Quality, was $51.7 million at March 31, 2021, representing IERCo's one-third share of BCC's total reclamation obligation of $155.2 million. BCC has a reclamation trust fund set aside specifically for the purpose of paying these reclamation costs. At March 31, 2021, the value of BCC's reclamation trust fund was $199.5 million. During the three months ended March 31, 2021, the reclamation trust fund made no distributions for reclamation activity costs associated with the BCC surface mine. BCC periodically assesses the adequacy of the reclamation trust fund and its estimate of future reclamation costs. To ensure that the reclamation trust fund maintains adequate reserves, BCC has the ability to, and does, add a per-ton surcharge to coal sales, all of which are made to the Jim Bridger plant. Because of the existence of the fund and the ability to apply a per-ton surcharge, the estimated fair value of this guarantee is minimal. IDACORP and Idaho Power enter into financial agreements and power purchase and sale agreements that include indemnification provisions relating to various forms of claims or liabilities that may arise from the transactions contemplated by these agreements. Generally, a maximum obligation is not explicitly stated in the indemnification provisions and, therefore, the overall maximum amount of the obligation under such indemnification provisions cannot be reasonably estimated. IDACORP and Idaho Power periodically evaluate the likelihood of incurring costs under such indemnities based on their historical experience and the evaluation of the specific indemnities. As of March 31, 2021, the companies believe the likelihood is remote that IDACORP or Idaho Power would be required to perform under such indemnification provisions or otherwise incur any significant losses with respect to such indemnification obligations. Neither IDACORP nor Idaho Power has recorded any liability on their respective condensed consolidated balance sheets with respect to these indemnification obligations.

CONTINGENCIES_

CONTINGENCIES:	3 Months Ended
	Mar. 31, 2021
Loss Contingency [Abstract]
Contingencies	CONTINGENCIES IDACORP and Idaho Power have in the past and expect in the future to become involved in various claims, controversies, disputes, and other contingent matters, some of which involve litigation and regulatory or other contested proceedings. The ultimate resolution and outcome of litigation and regulatory proceedings is inherently difficult to determine, particularly where (a) the remedies or penalties sought are indeterminate, (b) the proceedings are in the early stages or the substantive issues have not been well developed, or (c) the matters involve complex or novel legal theories or a large number of parties. In accordance with applicable accounting guidance, IDACORP and Idaho Power, as applicable, establish an accrual for legal proceedings when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. If the loss contingency at issue is not both probable and reasonably estimable, IDACORP and Idaho Power do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. As of the date of this report, IDACORP's and Idaho Power's accruals for loss contingencies are not material to their financial statements as a whole; however, future accruals could be material in a given period. IDACORP's and Idaho Power's determination is based on currently available information, and estimates presented in financial statements and other financial disclosures involve significant judgment and may be subject to significant uncertainty. In connection with its utility operations, Idaho Power is subject to claims by individuals, entities, and governmental agencies for damages for alleged personal injury, property damage, and economic losses relating to Idaho Power’s provision of electric service and the operation of its generation, transmission, and distribution facilities. Some of those claims relate to personal injury, service quality and business interruption, property damage, and wildfires. In recent years, utilities in the western United States have been subject to significant liability for personal injury, loss of life, property damage, trespass, and economic losses, and in some cases, punitive damages and criminal charges and fines and penalties, associated with wildfires that originated from utility property, most commonly transmission and distribution lines. In recent years, Idaho Power has regularly received claims by both governmental agencies and private landowners for damages for fires allegedly originating from Idaho Power’s transmission and distribution system. As of the date of this report, the companies believe that resolution of existing claims will not have a material adverse effect on their respective consolidated financial statements. Idaho Power is also actively monitoring various pending environmental regulations and executive orders related to environmental matters that may have a significant impact on its future operations and compliance costs. Given uncertainties regarding the outcome, timing, and compliance plans for these environmental matters, Idaho Power is unable to estimate the financial impact of these regulations.

BENEFIT PLANS_

BENEFIT PLANS:	3 Months Ended
	Mar. 31, 2021
Retirement Benefits, Description [Abstract]
Benefit Plans	BENEFIT PLANSIdaho Power has a noncontributory defined benefit pension plan (pension plan) and two nonqualified defined benefit plans for certain senior management employees called the Security Plan for Senior Management Employees I and Security Plan for Senior Management Employees II (together, SMSP). Idaho Power also has a nonqualified defined benefit pension plan for directors that was frozen in 2002. Remaining vested benefits from that plan are included with the SMSP in the disclosures below. The benefits under the pension plan are based on years of service and the employee’s final average earnings. Idaho Power also maintains a defined benefit postretirement benefit plan (consisting of health care and death benefits) that covers all employees who were enrolled in the active-employee group plan at the time of retirement as well as their spouses and qualifying dependents. The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the three months ended March 31, 2021 and 2020 (in thousands). Pension Plan SMSP Postretirement Total 2021 2020 2021 2020 2021 2020 2021 2020 Service cost $ 13,408 $ 10,915 $ 203 $ 53 $ 353 $ 274 $ 13,964 $ 11,242 Interest cost 9,203 10,018 889 1,088 528 614 10,620 11,720 Expected return on plan assets (16,021) (14,030) — — (601) (605) (16,622) (14,635) Amortization of prior service cost 2 2 74 72 12 12 88 86 Amortization of net loss 5,673 4,367 1,051 934 — — 6,724 5,301 Net periodic benefit cost 12,265 11,272 2,217 2,147 292 295 14,774 13,714 Regulatory deferral of net periodic benefit cost (1) (11,695) (10,742) — — — — (11,695) (10,742) Previously deferred pension costs recognized (1) 4,288 4,288 — — — — 4,288 4,288 Net periodic benefit cost recognized for financial reporting (1)(2) $ 4,858 $ 4,818 $ 2,217 $ 2,147 $ 292 $ 295 $ 7,367 $ 7,260 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates. (2) Of total net periodic benefit cost recognized for financial reporting, $4.8 million and $4.3 million, respectively, were recognized in "Other operations and maintenance" and $2.6 million and $3.0 million, respectively, were recognized in "Other expense, net" on the condensed consolidated statements of income of the companies for the three months ended March 31, 2021 and 2020. Idaho Power's minimum required contribution to be made to its defined benefit pension plan during 2021 is estimated to be $4 million and during the three months ended March 31, 2021, Idaho Power made no contributions. In April 2021, Idaho Power made a $10 million contribution. Idaho Power is considering contributing up to an additional $30 million to its defined benefit pension plan during 2021 in a continued effort to balance the regulatory collection of these expenditures with the amount and timing of contributions and to mitigate the cost of being in an underfunded position. The primary impact of pension contributions is on the timing of cash flows, as the timing of cost recovery lags behind contributions. In March 2021, the American Rescue Plan Act of 2021 (American Rescue Plan) was signed into law, which included changes to the funding rules for single employer pension plans. The American Rescue Plan lowered the minimum funding requirements by revising liability discount rates and by lengthening the period over which unfunded liabilities must be amortized. Idaho Power is evaluating the potential impacts of the American Rescue Plan, but as of the date of this report does not believe it will materially affect Idaho Power's near-term pension contribution plans. Idaho Power also has an Employee Savings Plan that complies with Section 401(k) of the Internal Revenue Code and covers substantially all employees. Idaho Power matches specified percentages of employee contributions to the Employee Savings Plan.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS:	3 Months Ended
	Mar. 31, 2021
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Derivative Financial Instruments	DERIVATIVE FINANCIAL INSTRUMENTS Commodity Price Risk Idaho Power is exposed to market risk relating to electricity, natural gas, and other fuel commodity prices, all of which are heavily influenced by supply and demand. Market risk may be influenced by market participants’ nonperformance of their contractual obligations and commitments, which affects the supply of or demand for the commodity. Idaho Power uses derivative instruments, such as physical and financial forward contracts, for both electricity and fuel to manage the risks relating to these commodity price exposures. The primary objectives of Idaho Power’s energy purchase and sale activity are to meet the demand of retail electric customers, maintain appropriate physical reserves to ensure reliability, and make economic use of temporary surpluses that may develop. All of Idaho Power's derivative instruments have been entered into for the purpose of economically hedging forecasted purchases and sales, though none of these instruments have been designated as cash flow hedges. Idaho Power offsets fair value amounts recognized on its balance sheet and applies collateral related to derivative instruments executed with the same counterparty under the same master netting agreement. Idaho Power does not offset a counterparty's current derivative contracts with the counterparty's long-term derivative contracts, although Idaho Power's master netting arrangements would allow current and long-term positions to be offset in the event of default. Also, in the event of default, Idaho Power's master netting arrangements would allow for the offsetting of all transactions executed under the master netting arrangement. These types of transactions may include non-derivative instruments, derivatives qualifying for scope exceptions, receivables and payables arising from settled positions, and other forms of non-cash collateral (such as letters of credit). These types of transactions are excluded from the offsetting presented in the derivative fair value and offsetting table that follows. The table below presents the gains and losses on derivatives not designated as hedging instruments for the three months ended March 31, 2021 and 2020 (in thousands). Gain/(Loss) on Derivatives Recognized in Income (1) Location of Realized Gain/(Loss) on Derivatives Recognized in Income Three months ended 2021 2020 Financial swaps Operating revenues $ — $ 826 Financial swaps Purchased power 249 (190) Financial swaps Fuel expense 733 (2,848) Forward contracts Operating revenues 47 79 Forward contracts Purchased power (47) (76) Forward contracts Fuel expense (1) (19) (1) Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities. Settlement gains and losses on electricity swap contracts are recorded on the income statement in operating revenues or purchased power depending on the forecasted position being economically hedged by the derivative contract. Settlement gains and losses on contracts for natural gas are reflected in fuel expense. Settlement gains and losses on diesel derivatives are recorded in other operations and maintenance expense. See Note 11 - "Fair Value Measurements" for additional information concerning the determination of fair value for Idaho Power’s assets and liabilities from price risk management activities. Credit Risk At March 31, 2021, Idaho Power did not have material credit risk exposure from financial instruments, including derivatives. Idaho Power monitors credit risk exposure through reviews of counterparty credit quality, corporate-wide counterparty credit exposure, and corporate-wide counterparty concentration levels. Idaho Power manages these risks by establishing credit and concentration limits on transactions with counterparties and requiring contractual guarantees, cash deposits, or letters of credit from counterparties or their affiliates, as deemed necessary. Idaho Power’s physical power, physical gas, and financial transactions are generally under standardized industry contracts. These contracts contain adequate assurance clauses requiring collateralization if a counterparty has debt that is downgraded below investment grade by at least one rating agency. Credit-Contingent Features Certain Idaho Power derivative instruments contain provisions that require Idaho Power's unsecured debt to maintain an investment grade credit rating from Moody's Investors Service and Standard & Poor's Ratings Services. If Idaho Power's unsecured debt were to fall below investment grade, it would be in violation of these provisions, and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position at March 31, 2021, was $0.4 million. Idaho Power posted $0.8 million of cash collateral related to this amount. If the credit-risk-related contingent features underlying these agreements were triggered on March 31, 2021, Idaho Power would have been required to pay or post collateral to its counterparties up to an additional $4.8 million to cover the open liability positions as well as completed transactions that have not yet been paid. Derivative Instrument Summary The table below presents the fair values and locations of derivative instruments not designated as hedging instruments recorded on the balance sheets and reconciles the gross amounts of derivatives recognized as assets and as liabilities to the net amounts presented in the balance sheets at March 31, 2021 and December 31, 2020 (in thousands). Asset Derivatives Liability Derivatives Balance Sheet Location Gross Fair Value Amounts Offset Net Assets Gross Fair Value Amounts Offset Net Liabilities March 31, 2021 Current: Financial swaps Other current assets $ 2,958 $ (198) $ 2,760 $ 198 $ (198) $ — Forward contracts Other current liabilities — — — 50 — 50 Long-term: Financial swaps Other assets 164 (95) 69 95 (95) — Financial swaps Other liabilities 2 (2) — 46 (2) 44 Total $ 3,124 $ (295) $ 2,829 $ 389 $ (295) $ 94 December 31, 2020 Current: Financial swaps Other current assets $ 2,028 $ (36) $ 1,992 $ 36 $ (36) $ — Financial swaps Other current liabilities 187 (187) — 786 (652) (1) 134 Forward contracts Other current assets 5 (2) 3 2 (2) — Forward contracts Other current liabilities 3 (3) — 13 (3) 10 Long-term: Financial swaps Other liabilities 40 (40) — 56 (56) (1) — Total $ 2,263 $ (268) $ 1,995 $ 893 $ (749) $ 144 (1) Current and long-term liability derivative amounts offset include $0.5 million and $16 thousand of collateral receivable at December 31, 2020, respectively. The table below presents the volume of derivative commodity forward contracts and swaps outstanding at March 31, 2021 and 2020 (in thousands of units). March 31, Commodity Units 2021 2020 Electricity purchases MWh 155 136 Electricity sales MWh — 125 Natural gas purchases MMBtu 10,106 12,220 Natural gas sales MMBtu 78 375

FAIR VALUE MEASUREMENTS_

FAIR VALUE MEASUREMENTS:	3 Months Ended
	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS IDACORP and Idaho Power have categorized their financial instruments into a three-level fair value hierarchy, based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded on the condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: • Level 1: Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that IDACORP and Idaho Power have the ability to access. • Level 2: Financial assets and liabilities whose values are based on the following: a) quoted prices for similar assets or liabilities in active markets; b) quoted prices for identical or similar assets or liabilities in non-active markets; c) pricing models whose inputs are observable for substantially the full term of the asset or liability; and d) pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability. IDACORP and Idaho Power Level 2 inputs are based on quoted market prices adjusted for location using corroborated, observable market data. • Level 3: Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability. IDACORP’s and Idaho Power’s assessment of a particular input's significance to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy. There were no transfers between levels or material changes in valuation techniques or inputs during the three months ended March 31, 2021. The table below presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2021, and December 31, 2020 (in thousands). March 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Money market funds IDACORP (1) $ 43,026 $ — $ — $ 43,026 $ 56,048 $ — $ — $ 56,048 Idaho Power 20,262 — — 20,262 40,038 — — 40,038 Derivatives 2,829 — — 2,829 1,995 — — 1,995 Equity securities 49,077 — — 49,077 50,733 — — 50,733 Liabilities: Derivatives 44 50 — 94 134 10 — 144 (1) Holding company only. Does not include amounts held by Idaho Power. Idaho Power’s derivatives are contracts entered into as part of its management of loads and resources. Electricity derivatives are valued on the Intercontinental Exchange (ICE) with quoted prices in an active market. Natural gas and diesel derivatives are valued using New York Mercantile Exchange (NYMEX) and ICE pricing, adjusted for location basis, which are also quoted under NYMEX and ICE pricing. Equity securities consist of employee-directed investments related to an executive deferred compensation plan and actively traded money market and exchange traded funds related to the SMSP. The investments are measured using quoted prices in active markets and are held in a Rabbi trust. The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of March 31, 2021, and December 31, 2020, using available market information and appropriate valuation methodologies (in thousands). March 31, 2021 December 31, 2020 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value IDACORP Assets: Notes receivable (1) $ 3,804 $ 3,804 $ 3,804 $ 3,804 Liabilities: Long-term debt, including current portion (1) 2,000,471 2,270,074 2,000,414 2,466,967 Idaho Power Liabilities: Long-term debt, including current portion (1) 2,000,471 2,270,074 2,000,414 2,466,967 (1) Notes receivable and long-term debt are categorized as Level 3 and Level 2, respectively, of the fair value hierarchy, as defined earlier in this Note 11 - "Fair Value Measurements." Notes receivable are related to Ida-West and are valued based on unobservable inputs, including forecasted cash flows, which are partially based on expected hydropower conditions. Long-term debt is not traded on an exchange and is valued using quoted rates for similar debt in active markets. Carrying values for cash and cash equivalents, deposits, customer and other receivables, notes payable, accounts payable, interest accrued, and taxes accrued approximate fair value.

SEGMENT INFORMATION_

SEGMENT INFORMATION:	3 Months Ended
	Mar. 31, 2021
Segment Reporting, Measurement Disclosures [Abstract]
Segment Information	SEGMENT INFORMATION IDACORP’s only reportable segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power’s regulated operations include the generation, transmission, distribution, purchase, and sale of electricity. This segment also includes income from IERCo, a wholly-owned subsidiary of Idaho Power that is also subject to regulation and is a one-third owner of BCC, an unconsolidated joint venture. IDACORP’s other operating segments are below the quantitative and qualitative thresholds for reportable segments and are included in the "All Other" category in the table below. This category is comprised of IFS’s investments in affordable housing and other real estate tax credit projects, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses. The table below summarizes the segment information for IDACORP’s utility operations and the total of all other segments, and reconciles this information to total enterprise amounts (in thousands). Utility All Eliminations Consolidated Three months ended March 31, 2021: Revenues $ 315,568 486 $ — $ 316,054 Net income attributable to IDACORP, Inc. 44,369 462 — 44,831 Total assets as of March 31, 2021 6,893,076 244,710 (59,485) 7,078,301 Three months ended March 31, 2020: Revenues $ 290,488 $ 520 $ — $ 291,008 Net income attributable to IDACORP, Inc. 36,776 714 — 37,490

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)	3 Months Ended
	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Changes in Accumulated Other Comprehensive Income [Text Block]	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME The table below presents changes in components of accumulated other comprehensive income (AOCI), net of tax, during the three months ended March 31, 2021 and 2020 (in thousands). Items in parentheses indicate charges to AOCI. Defined Benefit Pension Items Three months ended 2021 2020 Balance at beginning of period $ (43,358) $ (36,284) Amounts reclassified out of AOCI 836 747 Balance at end of period $ (42,522) $ (35,537) The table below presents amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the three months ended March 31, 2021 and 2020 (in thousands). Items in parentheses indicate increases to net income. Amount Reclassified from AOCI Details About AOCI Three months ended 2021 2020 Amortization of defined benefit pension items (1) Prior service cost $ 74 $ 72 Net loss 1,051 934 Total before tax 1,125 1,006 Tax benefit (2) (289) (259) Total reclassification for the period, net of tax $ 836 $ 747 (1) Amortization of these items is included in IDACORP's condensed consolidated income statements in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net. (2) The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.

CHANGES IN IDAHO POWER RETAINED

CHANGES IN IDAHO POWER RETAINED EARNINGS (Notes)	3 Months Ended
	Mar. 31, 2021
Changes in Retained Earnings [Line Items]
Changes in Idaho Power Retained Earnings	CHANGES IN IDAHO POWER RETAINED EARNINGS The table below presents changes in Idaho Power retained earnings during the three months ended March 31, 2021 and 2020 (in thousands). Three months ended 2021 2020 Balance at beginning of period $ 1,599,155 $ 1,503,805 Net income 44,369 36,776 Dividends to parent (35,941) (33,952) Balance at end of period $ 1,607,583 $ 1,506,629

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Organization, Consolidation, Presentation, and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Revenue Recognition, Policy	The FCA mechanism revenues include only the initial recognition of FCA revenues when they meet the regulator-specified conditions for recognition. Revenue from contracts with customers excludes the portion of the tariff price representing FCA revenues that Idaho Power initially recorded in prior periods when revenues met regulator-specified conditions. When Idaho Power includes those amounts in the price of utility service billed to customers, Idaho Power records such amounts as recovery of the associated regulatory asset or liability and not as revenues. Derivative revenues include gains from settled electricity swaps and sales of electricity under forward sales contracts that are bundled with renewable energy credits. Related to these forward sales, Idaho Power simultaneously enters into forward purchases of electricity for the same quantity at the same location, which are recorded in purchased power on the condensed consolidated statements of income.
Nature of Business	IDACORP is a holding company formed in 1998 whose principal operating subsidiary is Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity with a service area covering approximately 24,000 square miles in southern Idaho and eastern Oregon. Idaho Power is regulated primarily by the state utility regulatory commissions of Idaho and Oregon and the Federal Energy Regulatory Commission (FERC). Idaho Power is the parent of Idaho Energy Resources Co. (IERCo), a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger generating plant (Jim Bridger plant) owned in part by Idaho Power.
Regulation of Utility Operations	As a regulated utility, many of Idaho Power's fundamental business decisions are subject to the approval of governmental agencies, including the prices that Idaho Power is authorized to charge for its electric service. These approvals are a critical factor in determining IDACORP's and Idaho Power's results of operations and financial condition.IDACORP's and Idaho Power's financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. The application of accounting principles related to regulated operations sometimes results in Idaho Power recording expenses and revenues in a different period than when an unregulated enterprise would record such expenses and revenues. In these instances, the amounts are deferred or accrued as regulatory assets or regulatory liabilities on the balance sheet. Regulatory assets represent incurred costs that have been deferred because it is probable they will be recovered from customers through future rates. Regulatory liabilities represent obligations to make refunds to customers for previous collections, or represent amounts collected in advance of incurring an expense.
Financial Statements	In the opinion of management of IDACORP and Idaho Power, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly each company's consolidated financial position as of March 31, 2021, consolidated results of operations for the three months ended March 31, 2021 and 2020, and consolidated cash flows for the three months ended March 31, 2021 and 2020. These adjustments are of a normal and recurring nature. These financial statements do not contain the complete detail or note disclosures concerning accounting policies and other matters that would be included in full-year financial statements and should be read in conjunction with the audited consolidated financial statements included in IDACORP’s and Idaho Power’s Annual Report on Form 10-K for the year ended December 31, 2020 (2020 Annual Report). The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. A change in management's estimates or assumptions could have a material impact on IDACORP's or Idaho Power's respective financial condition and results of operations during the period in which such change occurred.
Management Estimates	Management makes estimates and assumptions when preparing financial statements in conformity with generally accepted accounting principles. These estimates and assumptions include those related to rate regulation, retirement benefits, contingencies, asset impairment, income taxes, unbilled revenues, and bad debt. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, future economic factors that are difficult to predict and are beyond management's control. Accordingly, actual results could differ from those estimates.
Income Tax	In accordance with interim reporting requirements, IDACORP and Idaho Power use an estimated annual effective tax rate for computing their provisions for income taxes. An estimate of annual income tax expense (or benefit) is made each interim period using estimates for annual pre-tax income, income tax adjustments, and tax credits. The estimated annual effective tax rates do not include discrete events such as tax law changes, examination settlements, accounting method changes, or adjustments to tax expense or benefits attributable to prior years. Discrete events are recorded in the interim period in which they occur or become known. The estimated annual effective tax rate is applied to year-to-date pre-tax income to determine income tax expense (or benefit) for the interim period consistent with the annual estimate. In subsequent interim periods, income tax expense (or benefit) for the period is computed as the difference between the year-to-date amount reported for the previous interim period and the current period's year-to-date amount.
Fair Value of Financial Instruments	IDACORP and Idaho Power have categorized their financial instruments into a three-level fair value hierarchy, based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded on the condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: • Level 1: Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that IDACORP and Idaho Power have the ability to access. • Level 2: Financial assets and liabilities whose values are based on the following: a) quoted prices for similar assets or liabilities in active markets; b) quoted prices for identical or similar assets or liabilities in non-active markets; c) pricing models whose inputs are observable for substantially the full term of the asset or liability; and d) pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability. IDACORP and Idaho Power Level 2 inputs are based on quoted market prices adjusted for location using corroborated, observable market data. • Level 3: Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.
New Accounting Pronouncements	There have been no recently issued accounting pronouncements that have had or are expected to have a material impact on IDACORP's or Idaho Power's consolidated financial statements.
Derivatives, Methods of Accounting, Derivatives Not Designated or Qualifying as Hedges [Policy Text Block]	Idaho Power is exposed to market risk relating to electricity, natural gas, and other fuel commodity prices, all of which are heavily influenced by supply and demand. Market risk may be influenced by market participants’ nonperformance of their contractual obligations and commitments, which affects the supply of or demand for the commodity. Idaho Power uses derivative instruments, such as physical and financial forward contracts, for both electricity and fuel to manage the risks relating to these commodity price exposures. The primary objectives of Idaho Power’s energy purchase and sale activity are to meet the demand of retail electric customers, maintain appropriate physical reserves to ensure reliability, and make economic use of temporary surpluses that may develop. All of Idaho Power's derivative instruments have been entered into for the purpose of economically hedging forecasted purchases and sales, though none of these instruments have been designated as cash flow hedges. Idaho Power offsets fair value amounts recognized on its balance sheet and applies collateral related to derivative instruments executed with the same counterparty under the same master netting agreement. Idaho Power does not offset a counterparty's current derivative contracts with the counterparty's long-term derivative contracts, although Idaho Power's master netting arrangements would allow current and long-term positions to be offset in the event of default. Also, in the event of default, Idaho Power's master netting arrangements would allow for the offsetting of all transactions executed under the master netting arrangement. These types of
Derivatives, Reporting of Derivative Activity	Settlement gains and losses on electricity swap contracts are recorded on the income statement in operating revenues or purchased power depending on the forecasted position being economically hedged by the derivative contract. Settlement gains and losses on contracts for natural gas are reflected in fuel expense. Settlement gains and losses on diesel derivatives are recorded in other operations and maintenance expense.
Segment Reporting	IDACORP’s only reportable segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power’s regulated operations include the generation, transmission, distribution, purchase, and sale of electricity. This segment also includes income from IERCo, a wholly-owned subsidiary of Idaho Power that is also subject to regulation and is a one-third owner of BCC, an unconsolidated joint venture. IDACORP’s other operating segments are below the quantitative and qualitative thresholds for reportable segments and are included in the "All Other" category in the table below. This category is comprised of IFS’s investments in affordable housing and other real estate tax credit projects, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses.

REVENUES_ (Policies)

REVENUES: (Policies)	3 Months Ended
	Mar. 31, 2021
Revenues [Abstract]
Revenue Recognition, Policy	The FCA mechanism revenues include only the initial recognition of FCA revenues when they meet the regulator-specified conditions for recognition. Revenue from contracts with customers excludes the portion of the tariff price representing FCA revenues that Idaho Power initially recorded in prior periods when revenues met regulator-specified conditions. When Idaho Power includes those amounts in the price of utility service billed to customers, Idaho Power records such amounts as recovery of the associated regulatory asset or liability and not as revenues. Derivative revenues include gains from settled electricity swaps and sales of electricity under forward sales contracts that are bundled with renewable energy credits. Related to these forward sales, Idaho Power simultaneously enters into forward purchases of electricity for the same quantity at the same location, which are recorded in purchased power on the condensed consolidated statements of income.
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy	Receivables and Allowance for Uncollectible Accounts In response to the COVID-19 pandemic, Idaho Power provided certain relief to customers, including temporarily suspending disconnections for customers and temporarily waiving late fees. This relief as well as the economic conditions created by the response to COVID-19 have resulted in higher aged accounts receivable and an increase in the number of late payments. Idaho Power expects higher uncollectible account write-offs as a result of the COVID-19 pandemic and, accordingly, increased its allowance for uncollectible accounts related to customer receivables at March 31, 2021. The allowance for uncollectible accounts increased to 6.5 percent of the total customer receivables balance at March 31, 2021, compared with 6.1 percent at December 31, 2020, and 3.1 percent at March 31, 2020. The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables for the three months ended March 31, 2021 and 2020 (in thousands): Three months ended 2021 2020 Balance at beginning of period $ 4,766 $ 1,401 Additions to the allowance 488 983 Write-offs, net of recoveries (166) (216) Balance at end of period $ 5,088 $ 2,168 Allowance for uncollectible accounts as a percentage of customer receivables 6.5 % 3.1 %

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities (Policies)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives, Reporting of Derivative Activity	Settlement gains and losses on electricity swap contracts are recorded on the income statement in operating revenues or purchased power depending on the forecasted position being economically hedged by the derivative contract. Settlement gains and losses on contracts for natural gas are reflected in fuel expense. Settlement gains and losses on diesel derivatives are recorded in other operations and maintenance expense.
Derivatives, Methods of Accounting, Derivatives Not Designated or Qualifying as Hedges [Policy Text Block]	Idaho Power is exposed to market risk relating to electricity, natural gas, and other fuel commodity prices, all of which are heavily influenced by supply and demand. Market risk may be influenced by market participants’ nonperformance of their contractual obligations and commitments, which affects the supply of or demand for the commodity. Idaho Power uses derivative instruments, such as physical and financial forward contracts, for both electricity and fuel to manage the risks relating to these commodity price exposures. The primary objectives of Idaho Power’s energy purchase and sale activity are to meet the demand of retail electric customers, maintain appropriate physical reserves to ensure reliability, and make economic use of temporary surpluses that may develop. All of Idaho Power's derivative instruments have been entered into for the purpose of economically hedging forecasted purchases and sales, though none of these instruments have been designated as cash flow hedges. Idaho Power offsets fair value amounts recognized on its balance sheet and applies collateral related to derivative instruments executed with the same counterparty under the same master netting agreement. Idaho Power does not offset a counterparty's current derivative contracts with the counterparty's long-term derivative contracts, although Idaho Power's master netting arrangements would allow current and long-term positions to be offset in the event of default. Also, in the event of default, Idaho Power's master netting arrangements would allow for the offsetting of all transactions executed under the master netting arrangement. These types of

INCOME TAXES_ Level 3 (Tables)

INCOME TAXES: Level 3 (Tables)	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The following table provides a summary of income tax expense for the three months ended March 31, 2021 and 2020 (in thousands): IDACORP Idaho Power 2021 2020 2021 2020 Income tax at statutory rates (federal and state) $ 12,849 $ 10,651 $ 12,932 $ 10,595 Excess deferred income tax reversal (1,606) (1,481) (1,606) (1,481) Other (1) (6,157) (5,282) (5,453) (4,728) Income tax expense $ 5,086 $ 3,888 $ 5,873 $ 4,386 Effective tax rate 10.2 % 9.4 % 11.7 % 10.7 %

REVENUES_ Electric utility oper

REVENUES: Electric utility operating revenues (Tables)	3 Months Ended
	Mar. 31, 2021
Electric utility operating revenues [Line Items]
Electric utility operating revenues [Table Text Block]	The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power for the three months ended March 31, 2021 and 2020 (in thousands): Three months ended 2021 2020 Electric utility operating revenues: Revenue from contracts with customers $ 291,327 $ 270,184 Alternative revenue programs and other revenues 24,241 20,304 Total electric utility operating revenues $ 315,568 $ 290,488
Disaggregation of Revenue [Table Text Block]	The following table presents revenues from contracts with customers disaggregated by revenue source for the three months ended March 31, 2021 and 2020 (in thousands): Three months ended 2021 2020 Revenues from contracts with customers: Retail revenues: Residential (includes $15,822 and $15,710, respectively, related to the FCA) (1) $ 154,785 $ 144,887 Commercial (includes $482 and $484, respectively, related to the FCA) (1) 72,269 69,513 Industrial 45,430 42,760 Irrigation 1,086 1,375 Deferred revenue related to HCC relicensing AFUDC (2) (2,119) (2,119) Total retail revenues 271,451 256,416 Less: FCA mechanism revenues (1) (16,304) (16,194) Wholesale energy sales 6,259 3,908 Transmission wheeling-related revenues 14,467 10,363 Energy efficiency program revenues 9,027 9,475 Other revenues from contracts with customers 6,427 6,216 Total revenues from contracts with customers $ 291,327 $ 270,184 (1) The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers. (2) The IPUC allows Idaho Power to recover a portion of the allowance for funds used during construction (AFUDC) on construction work in progress related to the Hells Canyon Complex (HCC) relicensing process, even though the relicensing process is not yet complete and the costs have not been moved to electric plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service.
Alternative revenue programs and other revenues [Table Text Block]	The table below presents the FCA mechanism revenues and other revenues for the three months ended March 31, 2021 and 2020 (in thousands): Three months ended 2021 2020 Alternative revenue programs and other revenues: FCA mechanism revenues $ 16,304 16,194 Derivative revenues 7,937 4,110 Total alternative revenue programs and other revenues $ 24,241 $ 20,304

EARNINGS PER SHARE_ Level 3 (Ta

EARNINGS PER SHARE: Level 3 (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share, Basic and Diluted [Abstract]
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method	The table below presents the computation of IDACORP’s basic and diluted earnings per share for the three months ended March 31, 2021 and 2020 (in thousands, except for per share amounts). Three months ended 2021 2020 Numerator: Net income attributable to IDACORP, Inc. $ 44,831 $ 37,490 Denominator: Weighted-average common shares outstanding - basic 50,567 50,517 Effect of dilutive securities 13 10 Weighted-average common shares outstanding - diluted 50,580 50,527 Basic earnings per share $ 0.89 $ 0.74 Diluted earnings per share $ 0.89 $ 0.74

BENEFIT PLANS_ Level 3 (Tables)

BENEFIT PLANS: Level 3 (Tables)	3 Months Ended
	Mar. 31, 2021
Defined Benefit Plan Disclosure
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the three months ended March 31, 2021 and 2020 (in thousands). Pension Plan SMSP Postretirement Total 2021 2020 2021 2020 2021 2020 2021 2020 Service cost $ 13,408 $ 10,915 $ 203 $ 53 $ 353 $ 274 $ 13,964 $ 11,242 Interest cost 9,203 10,018 889 1,088 528 614 10,620 11,720 Expected return on plan assets (16,021) (14,030) — — (601) (605) (16,622) (14,635) Amortization of prior service cost 2 2 74 72 12 12 88 86 Amortization of net loss 5,673 4,367 1,051 934 — — 6,724 5,301 Net periodic benefit cost 12,265 11,272 2,217 2,147 292 295 14,774 13,714 Regulatory deferral of net periodic benefit cost (1) (11,695) (10,742) — — — — (11,695) (10,742) Previously deferred pension costs recognized (1) 4,288 4,288 — — — — 4,288 4,288 Net periodic benefit cost recognized for financial reporting (1)(2) $ 4,858 $ 4,818 $ 2,217 $ 2,147 $ 292 $ 295 $ 7,367 $ 7,260 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates. (2) Of total net periodic benefit cost recognized for financial reporting, $4.8 million and $4.3 million, respectively, were recognized in "Other operations and maintenance" and $2.6 million and $3.0 million, respectively, were recognized in "Other expense, net" on the condensed consolidated statements of income of the companies for the three months ended March 31, 2021 and 2020.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS: Level 3 (Tables)	3 Months Ended
	Mar. 31, 2021
Summary of Derivative Instruments [Abstract]
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The table below presents the gains and losses on derivatives not designated as hedging instruments for the three months ended March 31, 2021 and 2020 (in thousands). Gain/(Loss) on Derivatives Recognized in Income (1) Location of Realized Gain/(Loss) on Derivatives Recognized in Income Three months ended 2021 2020 Financial swaps Operating revenues $ — $ 826 Financial swaps Purchased power 249 (190) Financial swaps Fuel expense 733 (2,848) Forward contracts Operating revenues 47 79 Forward contracts Purchased power (47) (76) Forward contracts Fuel expense (1) (19) (1) Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below presents the fair values and locations of derivative instruments not designated as hedging instruments recorded on the balance sheets and reconciles the gross amounts of derivatives recognized as assets and as liabilities to the net amounts presented in the balance sheets at March 31, 2021 and December 31, 2020 (in thousands). Asset Derivatives Liability Derivatives Balance Sheet Location Gross Fair Value Amounts Offset Net Assets Gross Fair Value Amounts Offset Net Liabilities March 31, 2021 Current: Financial swaps Other current assets $ 2,958 $ (198) $ 2,760 $ 198 $ (198) $ — Forward contracts Other current liabilities — — — 50 — 50 Long-term: Financial swaps Other assets 164 (95) 69 95 (95) — Financial swaps Other liabilities 2 (2) — 46 (2) 44 Total $ 3,124 $ (295) $ 2,829 $ 389 $ (295) $ 94 December 31, 2020 Current: Financial swaps Other current assets $ 2,028 $ (36) $ 1,992 $ 36 $ (36) $ — Financial swaps Other current liabilities 187 (187) — 786 (652) (1) 134 Forward contracts Other current assets 5 (2) 3 2 (2) — Forward contracts Other current liabilities 3 (3) — 13 (3) 10 Long-term: Financial swaps Other liabilities 40 (40) — 56 (56) (1) — Total $ 2,263 $ (268) $ 1,995 $ 893 $ (749) $ 144 (1) Current and long-term liability derivative amounts offset include $0.5 million and $16 thousand of collateral receivable at December 31, 2020, respectively.
Schedule of Derivative Instruments	The table below presents the volume of derivative commodity forward contracts and swaps outstanding at March 31, 2021 and 2020 (in thousands of units). March 31, Commodity Units 2021 2020 Electricity purchases MWh 155 136 Electricity sales MWh — 125 Natural gas purchases MMBtu 10,106 12,220 Natural gas sales MMBtu 78 375

FAIR VALUE MEASUREMENTS_ Level

FAIR VALUE MEASUREMENTS: Level 3 (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The table below presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2021, and December 31, 2020 (in thousands). March 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Money market funds IDACORP (1) $ 43,026 $ — $ — $ 43,026 $ 56,048 $ — $ — $ 56,048 Idaho Power 20,262 — — 20,262 40,038 — — 40,038 Derivatives 2,829 — — 2,829 1,995 — — 1,995 Equity securities 49,077 — — 49,077 50,733 — — 50,733 Liabilities: Derivatives 44 50 — 94 134 10 — 144 (1) Holding company only. Does not include amounts held by Idaho Power.
Fair Value, by Balance Sheet Grouping [Table Text Block]	The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of March 31, 2021, and December 31, 2020, using available market information and appropriate valuation methodologies (in thousands). March 31, 2021 December 31, 2020 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value IDACORP Assets: Notes receivable (1) $ 3,804 $ 3,804 $ 3,804 $ 3,804 Liabilities: Long-term debt, including current portion (1) 2,000,471 2,270,074 2,000,414 2,466,967 Idaho Power Liabilities: Long-term debt, including current portion (1) 2,000,471 2,270,074 2,000,414 2,466,967 (1) Notes receivable and long-term debt are categorized as Level 3 and Level 2, respectively, of the fair value hierarchy, as defined earlier in this Note 11 - "Fair Value Measurements."

SEGMENT INFORMATION_ Level 3 (T

SEGMENT INFORMATION: Level 3 (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Information [Abstract]
Schedule of Segment Reporting Information, by Segment	The table below summarizes the segment information for IDACORP’s utility operations and the total of all other segments, and reconciles this information to total enterprise amounts (in thousands). Utility All Eliminations Consolidated Three months ended March 31, 2021: Revenues $ 315,568 486 $ — $ 316,054 Net income attributable to IDACORP, Inc. 44,369 462 — 44,831 Total assets as of March 31, 2021 6,893,076 244,710 (59,485) 7,078,301 Three months ended March 31, 2020: Revenues $ 290,488 $ 520 $ — $ 291,008 Net income attributable to IDACORP, Inc. 36,776 714 — 37,490

CHANGES IN ACCUMULATED OTHER _2

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The table below presents changes in components of accumulated other comprehensive income (AOCI), net of tax, during the three months ended March 31, 2021 and 2020 (in thousands). Items in parentheses indicate charges to AOCI. Defined Benefit Pension Items Three months ended 2021 2020 Balance at beginning of period $ (43,358) $ (36,284) Amounts reclassified out of AOCI 836 747 Balance at end of period $ (42,522) $ (35,537)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The table below presents amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the three months ended March 31, 2021 and 2020 (in thousands). Items in parentheses indicate increases to net income. Amount Reclassified from AOCI Details About AOCI Three months ended 2021 2020 Amortization of defined benefit pension items (1) Prior service cost $ 74 $ 72 Net loss 1,051 934 Total before tax 1,125 1,006 Tax benefit (2) (289) (259) Total reclassification for the period, net of tax $ 836 $ 747 (1) Amortization of these items is included in IDACORP's condensed consolidated income statements in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net. (2) The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.

CHANGES IN IDAHO POWER RETAIN_2

CHANGES IN IDAHO POWER RETAINED EARNINGS (Tables)	3 Months Ended
	Mar. 31, 2021
Changes in Idaho Power Retained Earnings [Abstract]
Changes in Idaho Power Retained Earnings Table	Three months ended 2021 2020 Balance at beginning of period $ 1,599,155 $ 1,503,805 Net income 44,369 36,776 Dividends to parent (35,941) (33,952) Balance at end of period $ 1,607,583 $ 1,506,629

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Accounting Adoption Pronouncement (Details) - Other Operating Income (Expense) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Reclassification [Line Items]
Utilities Operating Expense, Other	$ 500
Idaho Power Company
Reclassification [Line Items]
Utilities Operating Expense, Other	$ 500

INCOME TAXES_ Level 4 (Details)

INCOME TAXES: Level 4 (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Income Tax Expense [Line Items]
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount		$ 12,849	$ 10,651
Excess deferred income tax reversal		(1,606)	(1,481)
Other	[1]	(6,157)	(5,282)
Income Tax Expense		$ 5,086	$ 3,888
Effective tax rate		10.20%	9.40%
Idaho Power Company
Income Tax Expense [Line Items]
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount		$ 12,932	$ 10,595
Excess deferred income tax reversal		(1,606)	(1,481)
Other	[1]	(5,453)	(4,728)
Income Tax Expense		$ 5,873	$ 4,386
Effective tax rate		11.70%	10.70%
[1]	"Other" is primarily comprised of the net tax effect of Idaho Power's regulatory flow-through tax adjustments.

REGULATORY MATTERS_ Level 4 (De

REGULATORY MATTERS: Level 4 (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	May 31, 2022	Jun. 01, 2021	Jun. 01, 2020	Apr. 30, 2018	Oct. 31, 2014
Power cost adjustment mechanism | IDAHO | Subsequent Event
Regulatory Matters
Public Utilities, Requested Rate Increase (Decrease), Amount			$ 39,100
Idaho fixed cost adjustment mechanism
Regulatory Matters
Percentage cap on the FCA adjustment					3.00%
Idaho fixed cost adjustment mechanism | IDAHO
Regulatory Matters
Annual fixed cost adjustment mechanism deferral					$ 35,500
Idaho fixed cost adjustment mechanism | IDAHO | Subsequent Event
Regulatory Matters
Annual fixed cost adjustment mechanism deferral				$ 38,300
Public Utilities, Requested Rate Increase (Decrease), Amount			$ 2,800
October 2014 Idaho Settlement Stipulation | IDAHO
Regulatory Matters
Investment Tax Credits, Maximum, in Rate Case							$ 45,000
May 2018 Tax Reform Settlement Stipulation | IDAHO
Regulatory Matters
Minimum authorized return on equity						9.40%
Target authorized return on equity						10.00%
Settlement Stipulation - Investment Tax Credits and Idaho Sharing Mechanism [Member]
Regulatory Matters
Additional accumulated deferred investment tax credits (ADITC) amortization	$ 0	$ 0

REVENUES_ Electric utility op_2

REVENUES: Electric utility operating revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue from contracts with customers	$ 291,327	$ 270,184
Alternative revenue programs and other revenues	24,241	20,304
Electric utility revenues	$ 315,568	$ 290,488

REVENUES_ (Details)

REVENUES: (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		$ 291,327	$ 270,184
Alternative revenue programs and other revenues		24,241	20,304
Retail revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		271,451	256,416
Derivative revenues
Disaggregation of Revenue [Line Items]
Alternative revenue programs and other revenues		7,937	4,110
Idaho fixed cost adjustment mechanism
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	[1]	(16,304)	(16,194)
Alternative revenue programs and other revenues		16,304	16,194
Wholesale energy sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		6,259	3,908
Transmission Service Agreement
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		14,467	10,363
Energy efficiency program revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		9,027	9,475
Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		6,427	6,216
Residential Retail Revenue | Retail revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	[1]	154,785	144,887
Residential Retail Revenue | Idaho fixed cost adjustment mechanism
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		15,822	15,710
Commercial Retail Revenue | Retail revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	[1]	72,269	69,513
Commercial Retail Revenue | Idaho fixed cost adjustment mechanism
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		482	484
Industrial Retail Revenue | Retail revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		45,430	42,760
Irrigation Retail Revenue | Retail revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		1,086	1,375
Deferred revenue-AFUDC | Retail revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	[2]	(2,119)	$ (2,119)
IPUC authorized AFUDC Collection HCC Relicensing - Gross | Idaho Power Company | Hells Canyon Complex
Disaggregation of Revenue [Line Items]
Regulatory liabilities		$ (8,800)
[1]	The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
[2]	The IPUC allows Idaho Power to recover a portion of the allowance for funds used during construction (AFUDC) on construction work in progress related to the Hells Canyon Complex (HCC) relicensing process, even though the relicensing process is not yet complete and the costs have not been moved to electric plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service.

REVENUES_ Receivables and Allow

REVENUES: Receivables and Allowance for Uncollectible Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Receivables and Allowance for Uncollectible Accounts [Line Items]
Accounts Receivable, Allowance for Credit Loss	$ 5,088	$ 2,168	$ 4,766	$ 1,401
Additions to the allowance	488	983
Write-offs, net of recoveries	$ (166)	$ (216)
Allowance for uncollectible accounts as a percentage of customer receivables	6.50%	3.10%	6.10%

COMMON STOCK_ Level 4 (Details)

COMMON STOCK: Level 4 (Details) $ in Billions	3 Months Ended
	Mar. 31, 2021USD ($)shares
Shareholders' equity
Restricted Stock Unit Awards to Employees	76,147
Restricted stock awards to directors	11,878
IDACORP
Shareholders' equity
Stock Issued During Period, Shares, New Issues	53,593
Maximum leverage ratio requirement	0.65
Ratio of Indebtedness to Net Capital	0.44
Dividend Distribution Restriction Amount | $	$ 1.5
Idaho Power Company
Shareholders' equity
Maximum leverage ratio requirement	0.65
Ratio of Indebtedness to Net Capital	0.46
Dividend Distribution Restriction Amount | $	$ 1.3
Dividend Distribution Restriction Threshold	0.35
Ratio of total Capital to total capital and long-term debt	0.54
Preferred Stock, Shares Outstanding	0

EARNINGS PER SHARE_ Level 4 (De

EARNINGS PER SHARE: Level 4 (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net Income Attributable to IDACORP, Inc.	$ 44,831	$ 37,490
Denominator:
Weighted-average common shares outstanding - basic	50,567	50,517
Effect of dilutive securities	13	10
Weighted-average common shares outstanding - diluted	50,580	50,527
Earnings attributable to IDACORP, Inc. - basic (in dollars per share)	$ 0.89	$ 0.74
Earnings attributable to IDACORP, Inc. - diluted (in dollars per share)	$ 0.89	$ 0.74

COMMITMENTS_ Level 4 (Details)

COMMITMENTS: Level 4 (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Idaho Power Company
Guarantor Obligations
IERCo ownership interest in BCC	33.00%
IERCo guarantee of BCC reclamation obligation	$ 51.7
Idaho Power Company | Cogeneration And Power Production Purchase Commitment Member
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]
Life of Contract	20 years
Increase of Long-term Purchase Obligations, PURPA	$ 15
Idaho Power Company | Transmission Service Agreement
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]
Life of Contract	5 years
Increase of Long-term Purchase Obligations, PURPA	$ 16
Bridger Coal Company
Guarantor Obligations
IERCo guarantee of BCC reclamation obligation	155.2
Guarantor Obligations Total Reclamation Trust Fund	199.5
Distribution from Reclamation Trust Fund	$ 0

BENEFIT PLANS_ Level 4 (Details

BENEFIT PLANS: Level 4 (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
		Jul. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2021	Apr. 15, 2021
Pension Plan
Defined Benefit Plan Disclosure
Service cost			$ 13,408	$ 10,915
Interest cost			9,203	10,018
Expected return on plan assets			(16,021)	(14,030)
Amortization of prior service cost			2	2
Amortization of net loss			5,673	4,367
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)			12,265	11,272
Regulatory deferral of net periodic benefit cost	[1]		(11,695)	(10,742)
IPUC Authorized recovered pension cost	[1]		4,288	4,288
Net periodic benefit cost recognized for financial reporting	[1],[2]		4,858	4,818
Defined Benefit Plan, Contributions by Employer			0
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year, Description		4 million
Pension Plan | Forecast [Member]
Defined Benefit Plan Disclosure
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year					$ 30,000
Pension Plan | Subsequent Event
Defined Benefit Plan Disclosure
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year						$ 10,000
Senior Management Security Plan
Defined Benefit Plan Disclosure
Service cost			203	53
Interest cost			889	1,088
Expected return on plan assets			0	0
Amortization of prior service cost			74	72
Amortization of net loss			1,051	934
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)			2,217	2,147
Net periodic benefit cost recognized for financial reporting	[2]		2,217	2,147
Postretirement Benefits Plan
Defined Benefit Plan Disclosure
Service cost			353	274
Interest cost			528	614
Expected return on plan assets			(601)	(605)
Amortization of prior service cost			12	12
Amortization of net loss			0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)			292	295
Net periodic benefit cost recognized for financial reporting			292	295
Retirement Plan Total
Defined Benefit Plan Disclosure
Service cost			13,964	11,242
Interest cost			10,620	11,720
Expected return on plan assets			(16,622)	(14,635)
Amortization of prior service cost			88	86
Amortization of net loss			6,724	5,301
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)			14,774	13,714
Regulatory deferral of net periodic benefit cost	[1]		(11,695)	(10,742)
IPUC Authorized recovered pension cost	[1]		4,288	4,288
Net periodic benefit cost recognized for financial reporting	[1],[2]		7,367	7,260
Net Periodic Benefit cost recognize in Other operations and maintenance			4,800	4,300
Net Periodic Benefit cost recognized in other expense, net			$ 2,600	$ 3,000
[1]	Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
[2]	Of total net periodic benefit cost recognized for financial reporting, $4.8 million and $4.3 million, respectively, were recognized in "Other operations and maintenance" and $2.6 million and $3.0 million, respectively, were recognized in "Other expense, net" on the condensed consolidated statements of income of the companies for the three months ended March 31, 2021 and 2020.

Derivative Instruments Fair Val

Derivative Instruments Fair Value and Offsets Table (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		$ 3,124	$ 2,263
Derivative Asset, Fair Value, Gross Liability		(295)	(268)
Derivative Asset, Fair Value, Amount Offset Against Collateral		2,829	1,995
Derivative Liability, Fair Value, Gross Liability		389	893
Derivative Liability, Fair Value, Gross Asset		(295)	(749)
Derivative Liability, Fair Value, Amount Offset Against Collateral		94	144
Financial Swaps | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		2,958	2,028
Derivative Asset, Fair Value, Gross Liability		(198)	(36)
Derivative Asset, Fair Value, Amount Offset Against Collateral		2,760	1,992
Derivative Liability, Fair Value, Gross Liability		198	36
Derivative Liability, Fair Value, Gross Asset		(198)	(36)
Derivative Liability, Fair Value, Amount Offset Against Collateral		0	0
Financial Swaps | Other Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset			187
Derivative Asset, Fair Value, Gross Liability			(187)
Derivative Asset, Fair Value, Amount Offset Against Collateral			0
Derivative Liability, Fair Value, Gross Liability			786
Derivative Liability, Fair Value, Gross Asset	[1]		(652)
Derivative Liability, Fair Value, Amount Offset Against Collateral			134
Financial Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		164
Derivative Asset, Fair Value, Gross Liability		(95)
Derivative Asset, Fair Value, Amount Offset Against Collateral		69
Derivative Liability, Fair Value, Gross Liability		95
Derivative Liability, Fair Value, Gross Asset		(95)
Derivative Liability, Fair Value, Amount Offset Against Collateral		0
Financial Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		2	40
Derivative Asset, Fair Value, Gross Liability		(2)	(40)
Derivative Asset, Fair Value, Amount Offset Against Collateral		0	0
Derivative Liability, Fair Value, Gross Liability		46	56
Derivative Liability, Fair Value, Gross Asset		(2)	(56)	[1]
Derivative Liability, Fair Value, Amount Offset Against Collateral		44	0
Forward contracts | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset			5
Derivative Asset, Fair Value, Gross Liability			(2)
Derivative Asset, Fair Value, Amount Offset Against Collateral			3
Derivative Liability, Fair Value, Gross Liability			2
Derivative Liability, Fair Value, Gross Asset			(2)
Derivative Liability, Fair Value, Amount Offset Against Collateral			0
Forward contracts | Other Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		0	3
Derivative Asset, Fair Value, Gross Liability		0	(3)
Derivative Asset, Fair Value, Amount Offset Against Collateral		0	0
Derivative Liability, Fair Value, Gross Liability		50	13
Derivative Liability, Fair Value, Gross Asset		0	(3)
Derivative Liability, Fair Value, Amount Offset Against Collateral		$ 50	$ 10
[1]	Current and long-term liability derivative amounts offset include $0.5 million and $16 thousand of collateral receivable at December 31, 2020, respectively.

Derivative Instruments Gains (L

Derivative Instruments Gains (Loss) on Derivatives Recognized in Income (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Financial Swaps | Operating revenues
Derivative Instruments, Gain (Loss)
Derivative, Gain on Derivative	[1]	$ 0	$ 826
Financial Swaps | Purchased power
Derivative Instruments, Gain (Loss)
Derivative, Loss on Derivative	[1]		(190)
Derivative, Gain on Derivative	[1]	249
Financial Swaps | Operating Expense
Derivative Instruments, Gain (Loss)
Derivative, Loss on Derivative	[1]		(2,848)
Derivative, Gain on Derivative	[1]	733
Forward contracts | Operating revenues
Derivative Instruments, Gain (Loss)
Derivative, Gain on Derivative	[1]	47	79
Forward contracts | Purchased power
Derivative Instruments, Gain (Loss)
Derivative, Loss on Derivative	[1]	(47)	(76)
Forward contracts | Operating Expense
Derivative Instruments, Gain (Loss)
Derivative, Loss on Derivative	[1]	$ (1)	$ (19)
[1]	Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.

Derivative Commodities and Disc

Derivative Commodities and Disclosures (Details) MWh in Thousands, MMBTU in Thousands, $ in Millions	Mar. 31, 2021USD ($)MWhMMBTU	Mar. 31, 2020MMBTUMWh
Derivative
Derivatives in a net liability position	$ 0.4
Collateral Already Posted, Aggregate Fair Value	0.8
Additional Collateral, Aggregate Fair Value	$ 4.8
Electricity (MWh) | Long
Derivative
Derivative, Number of Instruments Held | MWh	155	136
Electricity (MWh) | Short
Derivative
Derivative, Number of Instruments Held | MWh	0	125
Natural Gas (MMBTU) | Long
Derivative
Derivative, Number of Instruments Held | MMBTU	10,106	12,220
Natural Gas (MMBTU) | Short
Derivative
Derivative, Number of Instruments Held | MMBTU	78	375

FAIR VALUE MEASUREMENTS_ Leve_2

FAIR VALUE MEASUREMENTS: Level 4 (Details) - USD ($)		Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	[1]	$ 43,026,000	$ 56,048,000
Derivative Assets		2,829,000	1,995,000
Equity Securities, FV-NI		49,077,000	50,733,000
Derivative Liabilities		94,000	144,000
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount		0	0
Idaho Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds		20,262,000	40,038,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	[1]	43,026,000	56,048,000
Derivative Assets		2,829,000	1,995,000
Equity Securities, FV-NI		49,077,000	50,733,000
Derivative Liabilities		44,000	134,000
Fair Value, Inputs, Level 1 [Member] | Idaho Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds		20,262,000	40,038,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	[1]	0	0
Derivative Assets		0	0
Equity Securities, FV-NI		0	0
Derivative Liabilities		50,000	10,000
Fair Value, Inputs, Level 2 [Member] | Idaho Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds		0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	[1]	0	0
Derivative Assets		0	0
Equity Securities, FV-NI		0	0
Derivative Liabilities		0	0
Fair Value, Inputs, Level 3 [Member] | Idaho Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds		$ 0	$ 0
[1]	Holding company only. Does not include amounts held by Idaho Power.

FAIR VALUE MEASUREMENTS_ Fair V

FAIR VALUE MEASUREMENTS: Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	[1]	$ 3,804	$ 3,804
Long-term debt	[1]	2,000,471	2,000,414
Carrying Amount | Idaho Power Company
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1]	2,000,471	2,000,414
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	[1]	3,804	3,804
Long-term debt	[1]	2,270,074	2,466,967
Estimated Fair Value | Idaho Power Company
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1]	$ 2,270,074	$ 2,466,967
[1]	Notes receivable and long-term debt are categorized as Level 3 and Level 2, respectively, of the fair value hierarchy, as defined earlier in this Note 11 - "Fair Value Measurements."

SEGMENT INFORMATION_ Level 4 (D

SEGMENT INFORMATION: Level 4 (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information
Total operating revenues	$ 316,054	$ 291,008
Net Income Attributable to IDACORP, Inc.	44,831	37,490
Total assets	7,078,301		$ 7,095,244
Idaho Power Company
Segment Reporting Information
Total operating revenues	315,568	290,488
Net Income Attributable to IDACORP, Inc.	44,369	36,776
Total assets	6,893,076
All Other
Segment Reporting Information
Total operating revenues	486	520
Net Income Attributable to IDACORP, Inc.	462	714
Total assets	244,710
Eliminations
Segment Reporting Information
Total operating revenues	0	0
Net Income Attributable to IDACORP, Inc.	0	$ 0
Total assets	$ (59,485)

CHANGES IN ACCUMULATED OTHER _3

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Reclassification out of Accumulated Other Comprehensive Income
Amortization of prior service cost	[1]	$ 74	$ 72
Amortization of net loss	[1]	1,051	934
Total reclassification, before tax - pension and postretirement benefits		1,125	1,006
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	[2]	(289)	(259)
Reclassifications		836	747
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
AOCI - Beginning Balance		(43,358)	(36,284)
Reclassifications		836	747
AOCI - Ending Balance		(42,522)	(35,537)
Accumulated Defined Benefit Pension Items
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications		836	747
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
AOCI - Beginning Balance		(43,358)	(36,284)
Reclassifications		836	747
AOCI - Ending Balance		$ (42,522)	$ (35,537)
[1]	Amortization of these items is included in IDACORP's condensed consolidated income statements in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net.
[2]	The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.

CHANGES IN IDAHO POWER RETAIN_3

CHANGES IN IDAHO POWER RETAINED EARNINGS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Changes in Retained Earnings [Line Items]
Balance at beginning of period	$ 1,734,103	$ 1,634,525
Net Income	44,800	37,458
Dividends to parent	(36,379)	(34,312)
Common stock dividends	(35,940)	(33,950)
Balance at end of period	1,742,994	1,638,065
Idaho Power Company
Changes in Retained Earnings [Line Items]
Balance at beginning of period	1,599,155	1,503,805
Net Income	44,369	36,776
Dividends to parent	(35,941)	(33,952)
Balance at end of period	$ 1,607,583	$ 1,506,629