SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report July 11, 1994
(Date of earliest event reported)
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IDAHO POWER COMPANY
(Exact name of registrant as specified in charter)
Idaho 1-3198 82-0130980
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1221 W Idaho Street
Boise, Idaho 83702-5627
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, (208) 383-2200
_____________________________________________________
Former name or address, if changed since last report.
Idaho Power Company
Form 8-K
Items 1 through 4 and Items 6 and 7 are inapplicable and have
been omitted herefrom.
Item 5. Other Events
(1) On June 30, 1994, the Company filed a general
rate increase request with the Idaho Public Utilities
Commission (IPUC) applicable to retail customers in
Idaho. The application requests an increase in annual
revenues for jurisdictional sales and service of
approximately $37.05 million, or 9.09 percent. The
test year filed was calendar year 1993, adjusted to
reflect 1994 known and measurable items. The overall
rate of return requested was 9.88 percent which
incorporated a 12.50 percent rate of return on common
equity. The Company's rate base and operating
expenses were also adjusted to include a $132 million
(9.7 percent) net increase in the Company's
investment in facilities and equipment since 1984
needed to provide electricity to its Idaho customers.
Such items include power plants, power lines,
substations and buildings. Of this growth, $99.8
million is attributable to the Milner Power Plant
($47.5 million) and the Swan Falls Power Plant ($52.3
million).
The Company's last general rate filing in Idaho was
based on a 1984 adjusted test year. Changes to other
costs and data attributed to Idaho reflected in this
filing include a 17.8 percent increase in customers,
along with an annual operating expense increase of
$57 million or 19.4 percent. Annual sales have
increased over two million megawatt-hours or 22
percent. Streamflow and meteorological history used
for normalizing power supply costs includes more
recent water years. Capital expenditures for system-
wide conservation and demand side management programs
exceed $20 million. This filing changes the base
components included in the Power Cost Adjustment
mechanism (PCA) and requests that the PCA be
implemented at a 90 percent level - up from the
current 60 percent threshold.
In anticipation that the IPUC will suspend the
request for a permanent rate increase the customary
practice to allow for public hearing the Company has
asked the IPUC to grant a portion of the increase on
an interim basis. The interim request for an $11.5
million increase in annual revenues, or a 2.83
percent uniform rate increase effective August 1,
would enable the Company to begin recovery of its
investment in the expansion of the Swan Falls Power
Plant and construction of the new Milner Power Plant.
This interim request is a portion of the proposed
permanent rate increase. Both increases the
permanent and the interim request are subject to a
decision by the IPUC. The Company is unable to
predict the outcome of this proceeding.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly author
ized.
IDAHO POWER COMPANY
By: /s/ J LaMont Keen
J LaMont Keen
Vice President and Chief Financial Officer
Dated: July 8, 1994