Idacorp (IDA) Investor presentation summary

Financial performance and growth

• Achieved 18 consecutive years of earnings growth, with 2025 revenue at $1.81 billion and diluted EPS of $5.90.

• Annualized dividend per share reached $3.52, reflecting a 193% increase since 2011 and a near-term payout ratio target of 50–60%.

• Return on average equity was 9.4% for 2025, with a strong balance sheet and no holding company debt.

• Projected rate base CAGR of 16.7% from 2026–2030, with capital expenditures averaging $1.4 billion per year.

• Earnings support and revenue sharing mechanisms allocate earnings above 9.6% ROE, benefiting both customers and the company.

Customer and load growth

• Metered customer count grew 2.3% year-over-year, reaching approximately 670,000 customers.

• Idaho’s economic growth supports robust customer and load increases, with a 5-year forecasted annual peak growth rate of 8.3%.

• Major industrial expansions, such as Micron’s $15 billion fab, are driving further demand.

• Residential rates remain 20–30% below the national average, supporting affordability.

Energy portfolio and infrastructure investments

• Generation portfolio includes 4.2 GW of owned capacity, with hydro as the core and ongoing coal-to-gas conversions planned by 2030.

• 2025 energy mix: 36.9% hydro, 22.6% natural gas, 17.8% nuclear, 9.9% coal, 9.1% solar, 10.8% market purchases.

• Significant investments in storage: 250 MW BESS projects placed in service in 2026, with further gas and renewable additions planned.

• Boardman-to-Hemingway and Gateway West high-voltage transmission projects are underway, with B2H expected online in late 2027.