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PUC GRANTS IDAHO POWER 3.9 PERCENT TEMPORARY RATE INCREASE

 PUC GRANTS IDAHO POWER 3.9 PERCENT TEMPORARY RATE INCREASE
 BOISE, Idaho, May 1 /PRNewswire/ -- The Idaho Public Utilities Commission today granted Idaho Power (NYSE: IDA) an approximately 3.9 percent temporary rate increase, enabling the company to recover some of the abnormally high power production cost it is incurring due to southern Idaho's drought.
 The 12-month increase, to go into effect the week of May 4, will provide the company an estimated $15 million in revenues to help offset extraordinary power supply costs the company expects to incur this year due to diminished hydroelectric generating conditions. Normally, the company generates approximately two-thirds of its customers' electricity at hydroelectric facilities, but generating capacity at those facilities has been sharply reduced by low streamflows and the company has been forced to rely more heavily than normal on costlier coal-fired generation and power purchased from other utilities to meet customer needs.
 The company had sought a 4.65 percent increase which would have generated $17.9 million.
 "While today's ruling does not provide all we had asked for, it will provide substantial relief," said Idaho Power Vice President and Chief Financial Officer J. LaMont Keen. "Combined with our ambitious budget cutting efforts, the increased rate revenues will provide considerable help in dealing with the adverse impact of the drought."
 -0- 5/1/92
 /CONTACT: J. LaMont Keen, 208-383-2460, or Jeff Beaman, 208-383-2461, both of Idaho Power Co./
 (IDA) CO: Idaho Power Co. ST: Idaho IN: UTI SU:


MM -- SE015 -- 5718 05/01/92 19:32 EDT
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Publication:PR Newswire
Date:May 1, 1992
Words:254
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