SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 27, 2001
IDAHO POWER COMPANY
(Exact name of registrant as specified in its charter)
Idaho 1-3198 82-0130980
(State or other (Commission (I.R.S. Employer
jurisdiction of incorporation File Number) Identification No.)
1221 West Idaho Street
Boise, Idaho 83702-5627
(Address of principal executive
offices) (Zip Code) Registrant's telephone
number, including area code (208) 388-2200
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Former name or address, if changed since last report.
Idaho Power Company
Form 8-K
Items 1 through 4, 6, 8 and 9 are inapplicable and have been omitted herefrom.
Item 5. Other Events and Regulation FD Disclosure
On September 27, 2001, the Idaho Public Utilities Commission (IPUC)
authorized Idaho Power Company to collect $47.7 million in deferred access
purchased power costs. The Company also was authorized to collect nearly $1.2
million in accrued interest.
In its 2000-2001 Power Cost Adjustment (PCA) filing, the Company in
April this year had requested a total of $227.4 million out of $253 million the
Company spent to serve its Idaho customers. The money was primarily spent to
purchase power from the wholesale energy market and pay for higher fuel costs to
generate electricity from its coal-fired power plants. In May, the IPUC
authorized recovery of $168.3 million but deferred recovery of $59.1 million
pending a review of Idaho Power's trading practices.
The IPUC order directed Idaho Power to begin recovering the deferred
PCA balance on October 1 through a one-year rate increase to all customer
classes of 0.386 cents per kilowatt-hour.
If the IPUC order becomes final in its current form, the Company may
be required to expense the $11.4 million that was denied. If required, the
Company would anticipate expensing this amount in the third or fourth quarter of
2001.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits
1. - Selling Agency Agreement dated October 1, 2001
4. - Thirty-sixth Supplemental Indenture to Mortgage and
Deed of Trust, dated as of October 1, 2001
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 hereunto duly authorized.
IDAHO POWER COMPANY
By: /s/ Darrel T. Anderson
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Darrel T. Anderson
Vice President - Finance and Treasurer
Dated: October 1, 2001