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Idaho Power Forecasts Higher Demand Growth, Completes 250 MW Battery Storage Expansion

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Idaho Power, a subsidiary of Idacorp (IDA), reported in Q2 earnings Thursday that customer growth remained strong, serving about 672,000 customers during the 12 months ended June 30, 2026, up 2.3% over the year and extending a multi-year expansion trend.

The utility forecasts retail electricity sales to grow at an annual rate of 8.3% over the next five years, compared with 5.5% projected in its 2023 Integrated Resource Plan and 2.6% in its 2021 plan

Annual peak demand is projected to grow 5.1% over the same period, up from 3.7% in the previous forecast.

To support rising demand, Idaho Power completed 250 megawatts of company-owned battery storage projects in 2026, following additions of 131 MW in 2023, 96 MW in 2024 and 80 MW in 2025.

On the earnings front, retail revenue per megawatt-hour contributed $27.5 million to quarterly earnings, while customer growth added another $4.5 million.

The US electric utility firm said revenue from large contract customers increased earnings by $6.5 million, while Idaho's fixed-cost adjustment mechanism contributed $2.7 million.

Price: $143.09, Change: $-1.31, Percent Change: -0.91%

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