IDACORP Rides on Strategic Investments & Customer Growth

Core Viewpoint - IDACORP, Inc. is focusing on long-term investments to enhance infrastructure and increase clean energy generation assets, which is expected to drive financial performance through consistent customer growth [1] Group 1: Positive Factors - IDACORP's regulated electric operations in Idaho provide a stable and growing income stream, with capital expenditures projected at $1-$1.1 billion for 2025, $1.25-$1.35 billion for 2026, and $3.1-$3.6 billion from 2027 to 2029 [2] - The customer base of Idaho Power improved by 2.6% year-over-year in 2024, with expectations for continued growth due to better economic conditions in service territories [3] - A focus on cost control has allowed IDACORP to maintain lower rates than competitors, making the region attractive for new businesses and increasing electricity demand [4] Group 2: Challenges - IDACORP faces significant capital expenditure obligations related to hydropower license renewals, with relicensing costs for the Hells Canyon Hydroelectric Project estimated at $497 million [5] - Adverse weather conditions during summer months may reduce electricity demand, particularly from irrigation customers, impacting overall operations [6] Group 3: Stock Performance - Over the past three months, IDACORP's shares have increased by 3%, outperforming the industry growth of 1.7% [7]