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 March 24, 1995
(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) 388-2200
_____________________________________________________
Former name or address, if changed since last report.
(This document consists of 3 pages)
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
On March 21, 1995, the Idaho Public Utilities Commission
(IPUC) issued an Order denying the Company's request for
reconsideration of the Return on Common Equity (ROE) of
11.0% which was recently granted in the Company's
general rate increase request. The Company is extremely
frustrated with the Petition denial. The IPUC's refusal
to reconsider this Petition places the Company in a very
difficult position to increase shareholder value. The
Company targeted 1995 to begin recovery from the
financial conditions brought on by the drought
experienced in Southern Idaho in six of the last eight
years. Under present operations, the ROE assigned by
the IPUC does not allow the Company the opportunity to
begin that recovery.
The Company is concerned about the possible long-term
risks its ability to remain financially strong and
independent in an environment where low energy rates are
obtained at the expense of the utility's investors.
The Company will evaluate every option available
including substantial reductions in expenditures
beyond our 1995 targets, a review of customer programs
and service levels, as well as all possible regulatory
options to move toward financial recovery.
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: March 24, 1995