The Associated Press released a story on the new rate increase proposal by Idaho Power. The proposal is supposed to make up for the $140 million in “lower-than-projected revenue”. We can’t help but wonder if this is related to the IACI proposed Business Personal Property Tax that would have primarily benefited Idaho Power Co, the price tag is nearly identical.
Idaho Power Co cited “low stream flows reduced hydropower production last year. The company also made less than expected when it sold power, because of cheaper prices on the open market.” For the full AP story click here.