IDACORP Inc 2024年度报告

“The energy industrycontinues to evolve, andas we survey the changinglandscape, we areconfident our dedicatedteam of problem solverswill continue to innovate,adapt, and work to achievestrong financial results.” Lisa A. GrowPresident & CEO Contents Welcome Letter1Looking Back2Serving Customers4Growth and Reliability6Taking Care of Customers8Looking Forward10Board of Directors11Generation Facilities12Form 10-K13 Total Operating RevenuesNet IncomeEarnings Per Diluted Common ShareDividends Declared Per Common ShareTotal AssetsNumber of Employees (full-time)Number of Customers IDACORP enjoyed another year of growth, success,and overcoming challenges in 2024. When we reflecton everything we accomplished — building newinfrastructure to support our rapidly growing customerbase, maintaining our excellent reliability metrics andaffordable prices, and keeping our employees andcommunities safe — we are filled with gratitude forthe dedicated employees who made it all possible.Thanks to their efforts, Idaho Power continues todeliver on its mission of safely providing the reliable,affordable, increasingly clean energy our customerscount on every day. continue to add resources to our energy mix in 2025and beyond. These grid investments were the maindriver behind rate cases we concluded in both Idahoand Oregon in 2024, which will help support ouroperations as our service area grows. Safety remains at the heart of everything we do.We’re proud to report 2024 was the third-safest yearon record, in terms of lost-time injuries. Ensuring ouremployees go home to their loved ones each day willalways be our top priority. We’re also committed tokeeping our customers and communities safe. Safetyis the primary goal of our Wildfire Mitigation Plan,which helps us protect the communities we serve andharden our system. We remain in a period of unprecedented growth,with Idaho Power now serving more than 650,000customers. Maintaining our outstanding reliabilityrequires hard work and careful planning as we addresources to our system, strengthen the grid, and workto bring key transmission projects like Boardman toHemingway, Gateway West, and Southwest IntertieProject-North online. As we respond to growth andeconomic development across our service area, we areforecasting spending $1.1 billion per year on averageover the next five years. The energy industry continues to evolve, and as wesurvey the changing landscape, we are confident ourdedicated team of problem solvers will continue toinnovate, adapt, and work to achieve strong financialresults. We move forward with an eye on buildingour future, while also embracing the core values thathave been so vital to guiding our success. On behalf of our employees, as well as our leadershipteam and Board of Directors, we thank you for yourinvestment in IDACORP. We added several key resources in 2024, bringingnearly 200 megawatts of new solar and batterystorage onto our system while also converting twoof our coal-fired units to cleaner natural gas. We will LOOKING BACK IDACORP enjoyed another year of growth andsuccess in 2024. We faced many challenges, and ouremployees rose to meet them, helping us achieveour 17thconsecutive year of earnings growth whileincreasing net income by $28 million compared to2023. Our employees’ commitment to safety resultedin the third-safest year in company history, and wealso kept our customers’ lights on 99.96% of the timedespite a hot summer, a busy wildfire season, andincreasing energy demand. Customer growth remainsstrong for Idaho Power — we now serve more than650,000 customers after experiencing 2.6% growthin 2024. To help balance that growth, we addednearly 200 megawatts (MW) of solar and batteryresources to our portfolio, completed rate cases inIdaho and Oregon, and continued to strengthen ourgrid through our Wildfire Mitigation Program. Alongthe way, we remain dedicated to the safety of ouremployees and communities; we work to keep ourenergy affordable, with prices 20 to 30% below thenational average; we continue to protect our naturalresources and exercise good stewardship of the SnakeRiver, which helps power our clean energy mix; andwe stay engaged with the communities where we liveand work through corporate giving, volunteerism,and employee donations. Earnings Guidance General Rate Case IDACORP achieved its 17thconsecutiveyear of earnings growth in 2024 — anachievement we believe is unprecedentedamong investor-owned utilities. IDACORPended the year with earnings of $5.50 perdiluted share, and we initiated earningsguidance for the full year 2025 in the rangeof $5.65 to $5.85 per diluted share. IdahoPower used $29.8 million of accumulateddeferred investment tax credits (ADITC)under its Idaho regulatory mechanism. Our general rate case in Oregonreached a settlement with the OregonPublic Utility Commission (OPUC),resulting in an overall rate increaseof $6.7 million, or 12.14%, effectiveOctober 2024. This was our first generalrate case in Oregon since 2