IDACORP INC, 10-K filed on 2/19/2026
Annual Report
v3.25.4
Document and Entity Information Document and Entity Information
 12 Months Ended
Dec. 31, 2025
segment
Feb. 13, 2026
shares
Jun. 30, 2025
USD ($)
Document Information [Line Items]      
Number of Operating Segments | segment 1    
Number of Reportable Segments | segment 1    
Document Type 10-K    
Document Annual Report true    
Document Transition Report false    
Document Period End Date Dec. 31, 2025    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity File Number 1-14465    
Entity Registrant Name IDACORP, Inc.    
I.R.S. Employer Identification No. 82-0505802    
Entity Incorporation, State or Country Code ID    
Entity Address, Address Line One 1221 W. Idaho Street    
Entity Address, City or Town Boise,    
Entity Address, State or Province ID    
Entity Address, Postal Zip Code 83702-5627    
City Area Code (208)    
Local Phone Number 388-2200    
Entity Central Index Key 0001057877    
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Amendment Flag false    
Title of 12(b) Security Common Stock, without par value    
Trading Symbol IDA    
Security Exchange Name NYSE    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float | $     $ 6,209,260,280
Entity Common Stock, Shares Outstanding | shares   54,899,034  
Documents Incorporated by Reference
Documents Incorporated by Reference:
Part III, Items 10 - 14
Portions of IDACORP, Inc.’s definitive proxy statement to be filed pursuant to Regulation 14A for the 2026 annual meeting of shareholders.
    
Entity Interactive Data Current Yes    
ICFR Auditor Attestation Flag true    
Entity Current Reporting Status Yes    
Document Financial Statement Error Correction [Flag] false    
Idaho Power Company      
Document Information [Line Items]      
No Trading Symbol Flag true    
Document Period End Date Dec. 31, 2025    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity File Number 1-3198    
Entity Registrant Name Idaho Power Company    
I.R.S. Employer Identification No. 82-0130980    
Entity Central Index Key 0000049648    
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Amendment Flag false    
Title of 12(g) Security Preferred Stock    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding | shares   39,150,812  
Entity Interactive Data Current Yes    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Auditor [Line Items]  
Auditor Name DELOITTE & TOUCHE LLP
Auditor Firm ID 34
Auditor Location Boise, Idaho
Idaho Power Company  
Auditor [Line Items]  
Auditor Name DELOITTE & TOUCHE LLP
Auditor Firm ID 34
Auditor Location Boise, Idaho
v3.25.4
Consolidated Statements of Income Statement - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Revenues:      
Electric utility revenues $ 1,809,609 $ 1,822,965 $ 1,762,894
Other operating revenues 3,388 3,668 3,462
Revenues 1,812,997 1,826,633 1,766,356
Operating Expenses:      
Purchased power 392,462 425,082 501,531
Fuel expense 253,236 259,204 275,405
Power cost adjustment 24,997 89,757 6,885
Other operations and maintenance 470,537 460,951 399,855
Energy efficiency programs 30,480 27,580 31,948
Depreciation 251,072 223,410 195,341
Other electric utility operating expenses 31,408 8,798 38,550
Total electric utility expenses 1,454,192 1,494,782 1,449,515
Other 4,829 4,012 3,364
Operating expenses 1,459,021 1,498,794 1,452,879
Operating income 353,976 327,839 313,477
Nonoperating (Income) Expense:      
Allowance for equity funds used during construction (62,489) (53,238) (43,221)
Earnings of unconsolidated equity-method investments (4,922) (4,539) (12,426)
Interest on long-term debt 174,929 139,196 116,216
Other interest 29,473 24,454 20,253
Allowance for borrowed funds used during construction (36,211) (27,785) (20,012)
Other (income) expense, net (57,222) (55,253) (36,522)
Total nonoperating expense, net 43,558 22,835 24,288
Income before income taxes 310,418 305,004 289,189
Income Tax Expense (13,715) 15,053 27,296
Net Income 324,133 289,951 261,893
Adjustment for income attributable to noncontrolling interests (661) (777) (698)
Net Income Attributable to IDACORP, Inc. $ 323,472 $ 289,174 $ 261,195
Weighted Average Common Shares Outstanding - Basic (000’s) (in shares) 54,235 52,543 50,717
Weighted Average Common Shares Outstanding - Diluted (000’s) (in shares) 54,806 52,615 50,806
Earnings Per Share of Common Stock:      
Earnings Attributable to IDACORP, Inc. - Basic (in dollars per share) $ 5.96 $ 5.50 $ 5.15
Earnings Attributable to IDACORP, Inc. - Diluted (in dollars per share) $ 5.90 $ 5.50 $ 5.14
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net Income $ 324,133 $ 289,951 $ 261,893
Other Comprehensive Income:      
Unfunded pension liability adjustment, net of tax (1,352) 3,592 (4,262)
Total Comprehensive Income 322,781 293,543 257,631
Comprehensive income attributable to noncontrolling interests (661) (777) (698)
Comprehensive Income Attributable to IDACORP, Inc. $ 322,120 $ 292,766 $ 256,933
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 215,718 $ 368,865
Receivables:    
Customer 97,724 114,824
Other 37,764 29,627
Income taxes receivable 8,669 13,932
Accrued unbilled revenues 79,931 97,711
Materials and supplies (at average cost) 201,896 201,064
Fuel stock (at average cost) 24,455 43,656
Prepayments 30,579 29,461
Current regulatory assets 136,665 89,315
Other 3 0
Total current assets 833,404 988,455
Investments 155,002 161,340
Property, Plant and Equipment:    
Utility plant in service 8,249,106 7,957,763
Accumulated provision for depreciation (2,599,465) (2,714,706)
Utility plant in service - net 5,649,641 5,243,057
Construction work in progress 1,740,809 1,244,559
Finance lease liabilities 216,695 0
Utility plant held for future use 19,781 13,211
Other property, net of accumulated depreciation 18,103 16,491
Property, plant, and equipment - net 7,647,946 6,517,318
Other Assets:    
Company-owned life insurance 105,306 92,062
Regulatory assets 1,427,793 1,418,057
Other 55,986 62,131
Total other assets 1,589,085 1,572,250
Total assets 10,225,437 9,239,363
Current Liabilities:    
Current maturities of long-term debt 116,300 19,885
Accounts payable 344,870 307,133
Taxes accrued 7,532 6,981
Interest accrued 49,547 42,681
Accrued compensation 77,245 70,548
Current regulatory liabilities 21,089 7,523
Advances from customers 201,743 165,229
Other 79,509 80,821
Total current liabilities 897,835 700,801
Other Liabilities:    
Deferred income taxes 802,885 822,231
Regulatory liabilities 1,031,062 976,803
Pension and other postretirement benefits 137,406 165,992
Other 229,830 181,804
Total other liabilities 2,417,878 2,146,830
Long-Term Debt 3,331,038 3,053,777
Commitments and Contingencies
Equity:    
Common stock 1,301,907 1,194,998
Retained earnings 2,284,911 2,149,548
Accumulated other comprehensive loss (14,944) (13,592)
Total IDACORP, Inc. shareholders’ equity at end of year 3,571,874 3,330,954
Noncontrolling interests 6,812 7,001
Total equity 3,578,686 3,337,955
Total $ 10,225,437 $ 9,239,363
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:      
Net Income $ 324,133 $ 289,951 $ 261,893
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 258,402 228,091 199,908
Deferred income taxes and investment tax credits (31,491) (17,592) 39,613
Changes in regulatory assets and liabilities 31,229 115,026 (4,748)
Pension and postretirement benefit plan expense 45,214 45,800 27,155
Contributions to pension and postretirement benefit plans (27,613) (25,463) (55,337)
Earnings of unconsolidated equity-method investments 4,922 4,539 12,426
Distributions from unconsolidated equity-method investments 9,225 7,850 2,950
Allowance for equity funds used during construction (62,489) (53,238) (43,221)
Other non-cash adjustments to net income, net 8,547 10,443 8,414
Change in:      
Accounts receivable 9,688 31,434 (17,628)
Accounts payable and other accrued liabilities (3,666) (8,931) (3,220)
Taxes accrued/receivable 18,370 (84,261) (53,243)
Other current assets (16,168) 16,939 (81,244)
Other current liabilities 5,814 10,769 (12,551)
Other assets 37,565 32,138 10,712
Net cash provided by operating activities 601,838 594,417 267,027
Investing Activities:      
Additions to property, plant and equipment (1,179,327) (1,009,279) (611,137)
Payments received from transmission project joint funding partners 151,880 83,708 26,501
Payments to Acquire Partners Interest in Real Estate Partnership, Net of Cash Acquired (16,494) (3,814) (2,533)
Payments to Acquire Equity Securities, FV-NI (10,871) (11,642) (12,235)
Debt Securities, Held-to-Maturity, Purchase (2,896) (1,845) (1,617)
Proceeds from Sale, Debt Security, Trading, and Equity Security, FV-NI, Held-for-Investment 12,398 10,641 8,921
Other 16,406 14,570 2,153
Net cash used in investing activities (1,028,904) (917,661) (589,947)
Financing Activities:      
Issuance of long-term debt 400,000 300,000 872,000
Premium on issuance of long-term debt [Abstract] (3,072) (186) (7,006)
Retirement of long-term debt (19,885) (49,800) (225,000)
Finance Lease, Principal Payments 3,762 0 0
Dividends on common stock (188,482) (176,565) (163,545)
Proceeds from Issuance of Common Stock 97,777 298,450 0
Acquisition of treasury stock (3,336) (3,782) (3,274)
Other (5,321) (3,437) (403)
Net cash used in financing activities 273,919 364,680 472,772
Net (decrease) increase in cash and cash equivalents (153,147) 41,436 149,852
Cash and cash equivalents at beginning of the year 368,865 327,429 177,577
Cash and cash equivalents at end of the year 215,718 368,865 327,429
Cash paid during the period for:      
Interest (net of amount capitalized) 139,277 109,067 97,742
Non-cash investing activities:      
Additions to property, plant and equipment in accounts payable 222,340 168,107 185,400
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability $ 226,618 $ 0 $ 0
v3.25.4
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Common Stock
Retained Earnings
Accumulated Other Comprehensive (Loss) Income
Noncontrolling Interest [Member]
Common Stock Including Additional Paid in Capital
Beginning balance at Dec. 31, 2022   $ 882,189 $ 1,937,972 $ (12,922) $ 7,376  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Issued During Period, Value, New Issues   0        
APIC, Share-based Payment Arrangement, Increase for Cost Recognition           $ 9,578
Tax withholdings on net settlements of share-based awards   (3,274)        
Other   122        
Net income attributable to IDACORP, Inc. $ 261,195   261,195      
Common stock dividends     (163,029)      
Adjustment for income (loss) attributable to noncontrolling interests (698)       698  
Unfunded pension liability adjustment, net of tax (4,262)     (4,262)    
Distributions to noncontrolling interests         (900)  
Ending balance at Dec. 31, 2023   888,615 2,036,138 (17,184) 7,174  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Total IDACORP, Inc. shareholders’ equity at end of year 2,907,569   2,914,743      
Stock Issued During Period, Value, New Issues   298,450        
APIC, Share-based Payment Arrangement, Increase for Cost Recognition           11,708
Tax withholdings on net settlements of share-based awards   (3,782)        
Other   7        
Net income attributable to IDACORP, Inc. 289,174   289,174      
Common stock dividends     (175,764)      
Adjustment for income (loss) attributable to noncontrolling interests (777)       777  
Unfunded pension liability adjustment, net of tax 3,592     3,592    
Distributions to noncontrolling interests         (950)  
Ending balance at Dec. 31, 2024 3,337,955 1,194,998 2,149,548 (13,592) 7,001  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Total IDACORP, Inc. shareholders’ equity at end of year 3,330,954   3,337,955      
Stock Issued During Period, Value, New Issues   97,777        
APIC, Share-based Payment Arrangement, Increase for Cost Recognition           $ 12,505
Tax withholdings on net settlements of share-based awards   (3,336)        
Other   (37)        
Net income attributable to IDACORP, Inc. 323,472   323,472      
Common stock dividends     (188,109)      
Adjustment for income (loss) attributable to noncontrolling interests (661)       661  
Unfunded pension liability adjustment, net of tax (1,352)     (1,352)    
Distributions to noncontrolling interests         (850)  
Ending balance at Dec. 31, 2025 3,578,686 $ 1,301,907 2,284,911 $ (14,944) $ 6,812  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Total IDACORP, Inc. shareholders’ equity at end of year $ 3,571,874   $ 3,578,686      
v3.25.4
Consolidated Statements of Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends Declared Per Share of Common Stock (in dollars per share) $ 3.46 $ 3.35 $ 3.20
v3.25.4
Idaho Power Company Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Revenues:      
Electric utility revenues $ 1,809,609 $ 1,822,965 $ 1,762,894
Operating Expenses:      
Purchased power 392,462 425,082 501,531
Fuel expense 253,236 259,204 275,405
Power cost adjustment 24,997 89,757 6,885
Other operations and maintenance 470,537 460,951 399,855
Energy efficiency programs 30,480 27,580 31,948
Depreciation 251,072 223,410 195,341
Other electric utility operating expenses 31,408 8,798 38,550
Total electric utility expenses 1,454,192 1,494,782 1,449,515
Operating income 353,976 327,839 313,477
Nonoperating (Income) Expense:      
Allowance for equity funds used during construction (62,489) (53,238) (43,221)
Earnings of unconsolidated equity-method investments (4,922) (4,539) (12,426)
Interest on long-term debt 174,929 139,196 116,216
Other interest 29,473 24,454 20,253
Allowance for borrowed funds used during construction (36,211) (27,785) (20,012)
Other (income) expense, net (57,222) (55,253) (36,522)
Total nonoperating expense, net 43,558 22,835 24,288
Income before income taxes 310,418 305,004 289,189
Income Tax Expense (13,715) 15,053 27,296
Net Income 324,133 289,951 261,893
Idaho Power Company      
Operating Revenues:      
Electric utility revenues 1,809,609 1,822,965 1,762,894
Operating Expenses:      
Purchased power 392,462 425,082 501,531
Fuel expense 253,236 259,204 275,405
Power cost adjustment 24,997 89,757 6,885
Other operations and maintenance 470,537 460,951 399,855
Energy efficiency programs 30,480 27,580 31,948
Depreciation 251,072 223,410 195,341
Other electric utility operating expenses 31,408 8,798 38,550
Total electric utility expenses 1,454,192 1,494,782 1,449,515
Operating income 355,417 328,183 313,379
Nonoperating (Income) Expense:      
Allowance for equity funds used during construction (62,489) (53,238) (43,221)
Earnings of unconsolidated equity-method investments (2,984) (2,671) (10,540)
Interest on long-term debt 174,929 139,196 116,216
Other interest 29,035 24,105 19,913
Allowance for borrowed funds used during construction (36,211) (27,785) (20,012)
Other (income) expense, net (49,548) (49,710) (34,713)
Total nonoperating expense, net 52,732 29,897 27,643
Income before income taxes 302,685 298,286 285,736
Income Tax Expense (13,177) 17,681 28,926
Net Income $ 315,862 $ 280,605 $ 256,810
v3.25.4
Idaho Power Company Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net Income $ 324,133 $ 289,951 $ 261,893
Other Comprehensive Income:      
Unfunded pension liability adjustment, net of tax (1,352) 3,592 (4,262)
Total Comprehensive Income 322,781 293,543 257,631
Idaho Power Company      
Net Income 315,862 280,605 256,810
Other Comprehensive Income:      
Unfunded pension liability adjustment, net of tax (1,352) 3,592 (4,262)
Total Comprehensive Income $ 314,510 $ 284,197 $ 252,548
v3.25.4
Idaho Power Company Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 215,718 $ 368,865
Receivables:    
Customer 97,724 114,824
Other 37,764 29,627
Income taxes receivable 8,669 13,932
Accrued unbilled revenues 79,931 97,711
Materials and supplies (at average cost) 201,896 201,064
Fuel stock (at average cost) 24,455 43,656
Prepayments 30,579 29,461
Current regulatory assets 136,665 89,315
Other 3 0
Total current assets 833,404 988,455
Investments 155,002 161,340
Property, Plant and Equipment:    
Utility plant in service 8,249,106 7,957,763
Accumulated provision for depreciation (2,599,465) (2,714,706)
Utility plant in service - net 5,649,641 5,243,057
Construction work in progress 1,740,809 1,244,559
Finance Lease, Right-of-Use Asset, after Accumulated Amortization 219,612 0
Utility plant held for future use 19,781 13,211
Other property, net of accumulated depreciation 18,103 16,491
Property, plant, and equipment - net 7,647,946 6,517,318
Other Assets:    
Company-owned life insurance 105,306 92,062
Regulatory assets 1,427,793 1,418,057
Other 55,986 62,131
Total other assets 1,589,085 1,572,250
Total assets 10,225,437 9,239,363
Current Liabilities:    
Current maturities of long-term debt 116,300 19,885
Accounts payable 344,870 307,133
Taxes accrued 7,532 6,981
Interest accrued 49,547 42,681
Accrued compensation 77,245 70,548
Current regulatory liabilities 21,089 7,523
Advances from customers 201,743 165,229
Other 79,509 80,821
Total current liabilities 897,835 700,801
Other Liabilities:    
Deferred income taxes 802,885 822,231
Regulatory liabilities 1,031,062 976,803
Pension and other postretirement benefits 137,406 165,992
Finance lease liabilities 216,695 0
Other 229,830 181,804
Total other liabilities 2,417,878 2,146,830
Long-term Debt 3,331,038 3,053,777
Commitments and Contingencies
Equity:    
Common stock 1,301,907 1,194,998
Retained earnings 2,284,911 2,149,548
Accumulated Other Comprehensive Income (Loss), Net of Tax (14,944) (13,592)
Total IDACORP, Inc. shareholders’ equity 3,571,874 3,330,954
Total 10,225,437 9,239,363
Idaho Power Company    
Current Assets:    
Cash and cash equivalents 119,111 188,916
Receivables:    
Customer 97,724 114,824
Other 37,108 28,874
Income taxes receivable 1,294 11,811
Accrued unbilled revenues 79,931 97,711
Materials and supplies (at average cost) 201,896 201,064
Fuel stock (at average cost) 24,455 43,656
Prepayments 30,447 29,328
Current regulatory assets 136,665 89,315
Other 3 0
Total current assets 728,634 805,499
Investments 89,103 92,921
Property, Plant and Equipment:    
Utility plant in service 8,249,106 7,957,763
Accumulated provision for depreciation (2,599,465) (2,714,706)
Utility plant in service - net 5,649,641 5,243,057
Construction work in progress 1,740,809 1,244,559
Finance Lease, Right-of-Use Asset, after Accumulated Amortization 219,612 0
Utility plant held for future use 19,781 13,211
Other property, net of accumulated depreciation 6,715 4,858
Property, plant, and equipment - net 7,636,558 6,505,685
Other Assets:    
Company-owned life insurance 105,306 92,062
Regulatory assets 1,427,793 1,418,057
Other 49,502 52,744
Total other assets 1,582,601 1,562,863
Total assets 10,036,896 8,966,968
Current Liabilities:    
Current maturities of long-term debt 116,300 19,885
Accounts payable 342,501 305,248
Taxes accrued 7,532 6,981
Interest accrued 49,547 42,681
Accrued compensation 76,912 70,319
Current regulatory liabilities 21,089 7,523
Advances from customers 201,743 165,229
Other 64,209 61,309
Total current liabilities 883,388 682,578
Other Liabilities:    
Deferred income taxes 800,939 829,446
Regulatory liabilities 1,031,062 976,803
Pension and other postretirement benefits 137,406 165,992
Finance lease liabilities 216,695 0
Other 224,375 167,775
Total other liabilities 2,410,477 2,140,016
Long-term Debt 3,331,038 3,053,777
Commitments and Contingencies
Equity:    
Common stock 97,877 97,877
Premium on capital stock 1,107,258 912,258
Capital stock expense (2,097) (2,097)
Retained earnings 2,223,899 2,096,151
Accumulated Other Comprehensive Income (Loss), Net of Tax (14,944) (13,592)
Total IDACORP, Inc. shareholders’ equity 3,411,993 3,090,597
Total 10,036,896 8,966,968
Idaho Power Company | Subsidiary of Common Parent [Member]    
Current Liabilities:    
Accounts Payable, Other $ 3,555 $ 3,403
v3.25.4
Idaho Power Company Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net Income $ 324,133 $ 289,951 $ 261,893
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 258,402 228,091 199,908
Deferred income taxes and investment tax credits (31,491) (17,592) 39,613
Changes in regulatory assets and liabilities 31,229 115,026 (4,748)
Pension and postretirement benefit plan expense 45,214 45,800 27,155
Contributions to pension and postretirement benefit plans (27,613) (25,463) (55,337)
Earnings of unconsolidated equity-method investments 4,922 4,539 12,426
Distributions from unconsolidated equity-method investments 9,225 7,850 2,950
Allowance for equity funds used during construction (62,489) (53,238) (43,221)
Other non-cash adjustments to net income, net 8,547 10,443 8,414
Change in:      
Accounts receivable 9,688 31,434 (17,628)
Accounts payable and other accrued liabilities (3,666) (8,931) (3,220)
Taxes accrued/receivable 18,370 (84,261) (53,243)
Other current assets (16,168) 16,939 (81,244)
Other current liabilities 5,814 10,769 (12,551)
Other assets 37,565 32,138 10,712
Net cash provided by operating activities 601,838 594,417 267,027
Investing Activities:      
Additions to property, plant and equipment (1,179,327) (1,009,279) (611,137)
Payments received from transmission project joint funding partners 151,880 83,708 26,501
Payments to Acquire Equity Securities, FV-NI (10,871) (11,642) (12,235)
Debt Securities, Held-to-Maturity, Purchase (2,896) (1,845) (1,617)
Proceeds from Sale, Debt Security, Trading, and Equity Security, FV-NI, Held-for-Investment 12,398 10,641 8,921
Other 16,406 14,570 2,153
Net cash used in investing activities (1,028,904) (917,661) (589,947)
Financing Activities:      
Issuance of long-term debt 400,000 300,000 872,000
Premium on issuance of long-term debt [Abstract] (3,072) (186) (7,006)
Retirement of long-term debt (19,885) (49,800) (225,000)
Dividends on common stock (188,482) (176,565) (163,545)
Other 5,321 3,437 403
Net cash used in financing activities 273,919 364,680 472,772
Net (decrease) increase in cash and cash equivalents (153,147) 41,436 149,852
Cash and cash equivalents at beginning of the year 368,865 327,429 177,577
Cash and cash equivalents at end of the year 215,718 368,865 327,429
Cash paid during the period for:      
Interest (net of amount capitalized) 139,277 109,067 97,742
Non-cash investing activities:      
Additions to property, plant and equipment in accounts payable 222,340 168,107 185,400
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability 226,618 0 0
Idaho Power Company      
Net Income 315,862 280,605 256,810
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 257,794 227,480 199,307
Deferred income taxes and investment tax credits (48,505) (15,151) 35,080
Changes in regulatory assets and liabilities 31,229 115,026 (4,748)
Pension and postretirement benefit plan expense 45,190 45,763 27,138
Contributions to pension and postretirement benefit plans (27,589) (25,427) (55,319)
Earnings of unconsolidated equity-method investments 2,984 2,671 10,540
Distributions from unconsolidated equity-method investments 7,150 5,750 650
Allowance for equity funds used during construction (62,489) (53,238) (43,221)
Other non-cash adjustments to net income, net (3,941) (1,502) (1,143)
Change in:      
Accounts receivable 9,466 32,702 (17,882)
Accounts payable and other accrued liabilities (3,668) (8,927) (3,212)
Taxes accrued/receivable 18,370 (84,261) (53,243)
Other current assets (16,798) 15,781 (121,609)
Other current liabilities 11,068 (2,850) (12,085)
Other assets 37,620 32,171 10,776
Net cash provided by operating activities 567,775 561,251 206,759
Investing Activities:      
Additions to property, plant and equipment (1,178,990) (1,009,138) (610,913)
Payments received from transmission project joint funding partners 151,880 83,708 26,501
Payments to Acquire Equity Securities, FV-NI (8,452) (10,991) (11,233)
Debt Securities, Held-to-Maturity, Purchase (2,896) (1,845) (1,617)
Proceeds from Sale, Debt Security, Trading, and Equity Security, FV-NI, Held-for-Investment 12,013 10,641 8,921
Other 13,151 12,249 6,198
Net cash used in investing activities (1,013,294) (915,376) (582,143)
Financing Activities:      
Issuance of long-term debt 400,000 300,000 872,000
Premium on issuance of long-term debt [Abstract] (3,072) (186) (7,006)
Retirement of long-term debt (19,885) (49,800) (225,000)
Dividends on common stock (187,806) (175,772) (101,790)
Proceeds from Contributions from Parent 195,000 200,000 0
Other (4,761) 2,992 (38)
Net cash used in financing activities 375,714 271,250 538,242
Net (decrease) increase in cash and cash equivalents (69,805) (82,875) 162,858
Cash and cash equivalents at beginning of the year 188,916 271,791 108,933
Cash and cash equivalents at end of the year 119,111 188,916 271,791
Cash paid during the period for:      
Interest (net of amount capitalized) 138,839 108,718 97,402
Non-cash investing activities:      
Additions to property, plant and equipment in accounts payable 222,340 168,107 185,400
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability $ 226,618 $ 0 $ 0
v3.25.4
Idaho Power Company Consolidated Statements of Retained Earnings - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance $ 2,149,548    
Net Income 324,133 $ 289,951 $ 261,893
Ending balance 2,284,911 2,149,548  
Idaho Power Company      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance 2,096,151 1,991,319 1,836,547
Net Income 315,862 280,605 256,810
Dividends on Common Stock (188,114) (175,773) (102,038)
Ending balance $ 2,223,899 $ 2,096,151 $ 1,991,319
v3.25.4
Consolidated Statements of Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Other Comprehensive (loss) Income, Pension and Other Postretirement Benefit Plans, Tax $ (145) $ 1,245 $ (1,477)
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]        
Accounts Receivable, Allowance for Credit Loss, Current $ 3,788 $ 5,071    
Allowance for Doubtful Other Receivables, Current $ 637 $ 628    
Common Stock, Shares Authorized 120,000,000 120,000,000    
Common Stock, Shares, Issued 54,859,131 53,962,300 50,615,237 50,561,892
v3.25.4
Idaho Power Company Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Comprehensive (loss) Income, Pension and Other Postretirement Benefit Plans, Tax $ (145) $ 1,245 $ (1,477)
Idaho Power Company      
Other Comprehensive (loss) Income, Pension and Other Postretirement Benefit Plans, Tax $ (145) $ 1,245 $ (1,477)
v3.25.4
Idaho Power Company Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Accounts Receivable, Allowance for Credit Loss, Current $ 3,788 $ 5,071
Allowance for Doubtful Other Receivables, Current $ 637 $ 628
Common Stock, Shares Authorized 120,000,000 120,000,000
Common Stock, Shares, Issued 54,859,131 53,962,300
Idaho Power Company    
Accounts Receivable, Allowance for Credit Loss, Current $ 3,788 $ 5,071
Allowance for Doubtful Other Receivables, Current $ 637 $ 628
Common Stock, Par or Stated Value Per Share $ 2.50 $ 2.50
Common Stock, Shares Authorized 50,000,000 50,000,000
Common Stock, Shares, Issued 39,151,000 39,151,000
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
This Annual Report on Form 10-K is a combined report of IDACORP and Idaho Power. Therefore, these Notes to the Consolidated Financial Statements apply to both IDACORP and Idaho Power. However, Idaho Power makes no representation as to the information relating to IDACORP’s other operations.

Nature of Business
 
IDACORP is a holding company formed in 1998 whose principal operating subsidiary is Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity with a service area covering approximately 24,000 square miles in southern Idaho and eastern Oregon. On February 13, 2026, Idaho Power signed an asset purchase agreement with OTEC for the sale of Idaho Power's electric distribution business and certain transmission assets in the state of Oregon. Refer to Note 22 - "Sale of Oregon Assets" for additional information regarding the Oregon Sale. Idaho Power is regulated primarily by the state utility regulatory commissions of Idaho and Oregon and the FERC. Idaho Power is the parent of IERCo, a joint-owner of BCC, which mines and supplies coal to the Jim Bridger plant owned in part by Idaho Power.
 
IDACORP’s other notable subsidiaries include IFS, an investor in affordable housing and other real estate tax credit investments, and Ida-West, an operator of small PURPA-qualifying hydropower generation projects.
 
Principles of Consolidation
 
IDACORP’s and Idaho Power’s consolidated financial statements include the assets, liabilities, revenues, and expenses of each company and its subsidiaries listed above, as well as any variable interest entity (VIE) for which the respective company is the primary beneficiary. Investments in VIEs for which the companies are not the primary beneficiaries, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method of accounting. 

IDACORP also consolidates one VIE, Marysville Hydro Partners (Marysville), which is a joint venture owned 50 percent by Ida-West and 50 percent by Environmental Energy Company (EEC). At December 31, 2025, Marysville had approximately $14.2 million of primarily hydropower plant assets. EEC has borrowed amounts from Ida-West to fund a portion of its required capital contributions to Marysville. The loans are payable from EEC’s share of distributions from Marysville and are secured by the stock of EEC and EEC’s interest in Marysville. Ida-West is identified as the primary beneficiary because the combination of its ownership interest in the joint venture and the EEC note result in Ida-West's ability to control the activities of the joint venture.
 
The BCC investment is also a VIE, but because the power to direct the activities that most significantly impact the economic performance of BCC is shared with the joint-owner, Idaho Power is not the primary beneficiary. The carrying value of Idaho Power's investment in BCC was $16.8 million at December 31, 2025, and Idaho Power's maximum exposure to loss is the carrying value, any additional future contributions to BCC, and a $50.1 million guarantee for mine reclamation costs. BCC has a reclamation trust fund set aside specifically for the purpose of paying the reclamation costs. At December 31, 2025, the value of BCC's reclamation trust fund exceeded the guarantee requirement for the total reclamation obligation. The guarantee, reclamation obligation, and reclamation trust are discussed further in Note 9 - "Commitments."
 
IFS's affordable housing limited partnership and other real estate tax credit investments are also VIEs for which IDACORP is not the primary beneficiary. IFS's limited partnership interests range from 7 to 100 percent and were acquired between 2004 and 2023. As a limited partner, IFS does not control these entities and they are not consolidated. IFS’s maximum exposure to loss in these developments is limited to its net carrying value, which was $50.4 million at December 31, 2025.

Ida-West's other investments in PURPA facilities, Idaho Power's investment in BCC, and IFS's investments are accounted for under the equity method of accounting (see Note 15 - "Investments").

Except for amounts related to sales of electricity by Ida-West's PURPA projects to Idaho Power, all intercompany transactions and balances have been eliminated in consolidation. 
The accompanying consolidated financial statements include Idaho Power's proportionate share of utility plant and related operations resulting from its interests in jointly-owned plants (see Note 13 - "Property, Plant and Equipment and Jointly-Owned Projects"). 

Regulation of Utility Operations

As a regulated utility, many of Idaho Power's fundamental business decisions are subject to the approval of governmental agencies, including the prices that Idaho Power is authorized to charge for its electric service. These approvals are a critical factor in determining IDACORP's and Idaho Power's results of operations and financial condition.

Idaho Power meets the requirements under GAAP to prepare its financial statements applying the specialized rules to account for the effects of cost-based rate regulation. IDACORP’s and Idaho Power’s financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. Accounting for the economics of rate regulation impacts multiple financial statement line items and disclosures, such as property, plant, and equipment; regulatory assets and liabilities; operating revenues; O&M expense; depreciation and amortization expense; and income tax expense. The application of accounting principles related to regulated operations sometimes results in Idaho Power recording expenses and revenues in a different period than when an unregulated entity would record such expenses and revenues. In these instances, the amounts are deferred or accrued as regulatory assets or regulatory liabilities on the balance sheet. Regulatory assets represent incurred costs that have been deferred because it is probable they will be recovered from customers through future rates. Regulatory liabilities represent obligations to make refunds to customers for previous collections, or represent amounts collected in advance of incurring an expense. The effects of applying these regulatory accounting principles to Idaho Power’s operations are discussed in more detail in Note 3 - "Regulatory Matters."

Management Estimates
 
Management makes estimates and assumptions when preparing financial statements in conformity with GAAP. These estimates and assumptions include, among others, those related to rate regulation, retirement benefits, contingencies, asset impairment, income taxes, unbilled receivables, and the allowance for uncollectible accounts. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, future economic factors that are difficult to predict and are beyond management’s control. Accordingly, actual results could differ from those estimates.
 
System of Accounts

The accounting records of Idaho Power conform to the Uniform System of Accounts prescribed by the FERC and adopted by the public utility commissions of Idaho, Oregon, and Wyoming.
 
Cash and Cash Equivalents

Cash and cash equivalents include cash on-hand and highly liquid temporary investments that mature within 90 days of the date of acquisition.
 
Receivables and Allowance for Uncollectible Accounts

Customer receivables are recorded at the invoiced amounts and do not bear interest. A late payment fee of one percent and 2.4 percent in Idaho Power's Idaho and Oregon jurisdictions, respectively, may be assessed per month on account balances after 30 days. An allowance is recorded for potential uncollectible accounts. The measurement of expected credit losses on Idaho Power accounts receivable is based on historical experience, current economic conditions, and forecasted information that may affect collections on the outstanding balance. Generally, this includes adjustments based upon a combination of historical write-off experience, aging of accounts receivable, an analysis of specific customer accounts, and an evaluation of whether there are current or forecasted economic conditions that might cause variation in collection from the historical experience. Adjustments are charged to income. Customer accounts receivable balances that remain outstanding after reasonable collection efforts are written off.
The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables (in thousands of dollars):
Year Ended
December 31,
 20252024
Balance at beginning of period$5,071 $4,869 
Additions to the allowance3,004 4,523 
Write-offs, net of recoveries(4,287)(4,321)
Balance at end of period$3,788 $5,071 
Allowance for uncollectible accounts as a percentage of customer receivables3.7 %4.2 %

Other receivables, primarily notes receivable from business transactions, are also reviewed for impairment periodically, based upon transaction-specific facts. When it is probable that IDACORP or Idaho Power will be unable to collect all amounts due according to the contractual terms of the agreement, an allowance is established for the estimated uncollectible portion of the receivable and charged to income.

There were no impaired receivables without related allowances at December 31, 2025 and 2024. Once a receivable is determined to be impaired, any further interest income recognized is fully reserved.

Derivative Financial Instruments

Financial instruments such as commodity futures, forwards, options, and swaps are used to manage exposure to commodity price risk in the electricity and natural gas markets. All derivative instruments are recognized as either assets or liabilities at fair value on the balance sheet unless they are designated as normal purchases and normal sales. With the exception of forward contracts for the purchase of natural gas for use at Idaho Power's natural gas generation facilities and a nominal number of power transactions, Idaho Power’s physical forward contracts are designated as normal purchases and normal sales. Because of Idaho Power’s regulatory accounting mechanisms, Idaho Power records the unrealized changes in fair value of derivative instruments related to power supply as regulatory assets or liabilities.
 
Revenues

Operating revenues are generally recorded when service is rendered or energy is delivered to customers. Idaho Power accrues estimated unbilled receivables for electric services delivered to customers but not yet billed at year-end. Idaho Power does not report any collections of franchise fees and similar taxes related to energy consumption on the income statement. In addition, regulatory mechanisms in place in Idaho and Oregon affect the reported amount of revenue. The effects of applying these regulatory mechanisms are discussed in more detail in Note 4 - "Revenues."
 
Property, Plant, and Equipment and Depreciation

The cost of utility plant in service represents the original cost of contracted services, direct labor and material, AFUDC, and indirect charges for engineering, supervision, and similar overhead items. Repair and maintenance costs associated with planned major maintenance are expensed as the costs are incurred, as are maintenance and repairs of property and replacements and renewals of items determined to be less than units of property. For utility property replaced or renewed, the original cost plus removal cost less salvage is charged to accumulated provision for depreciation, while the cost of related replacements and renewals is added to property, plant, and equipment.
 
All utility plant in service is depreciated using the straight-line method at rates approved by regulatory authorities. Annual depreciation provisions as a percent of average depreciable utility plant in service approximated 3.2 percent in 2025, 3.1 percent in 2024, and 2.9 percent in 2023.

During the period of construction, costs expected to be included in the final value of the constructed asset, and depreciated once the asset is complete and placed in service, are classified as construction work in progress on the consolidated balance sheets. If the project becomes probable of being abandoned, these costs are expensed in the period such determination is made. Idaho Power may seek recovery of these costs in customer rates, although there can be no guarantee such recovery would be granted.
 
Long-lived assets are periodically reviewed for impairment when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the undiscounted expected future cash flows from an asset is less than the carrying value of the asset, impairment is recognized in the financial statements. There were no material impairments of long-lived assets in 2025, 2024, or 2023.
 
Allowance for Funds Used During Construction

AFUDC represents the cost of financing construction projects with borrowed funds and equity funds. With one exception, for the HCC relicensing project, cash is not realized currently from such allowance; it is realized under the ratemaking process over the service life of the related property through increased revenues resulting from a higher rate base and higher depreciation expense. AFUDC is included as a reduction to total nonoperating expense, net, on the consolidated statements of income. Idaho Power’s weighted-average monthly AFUDC rate was 7.2 percent for both 2025 and 2024, and 7.4 percent for 2023.

Income Taxes

IDACORP and Idaho Power account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method (commonly referred to as normalized accounting), deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. In general, deferred income tax expense or benefit for a reporting period is recognized as the change in deferred tax assets and liabilities from the beginning to the end of the period. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date unless Idaho Power's primary regulator, the IPUC, orders direct deferral of the effect of the change in tax rates over a longer period of time.

Consistent with orders and directives of the IPUC, unless contrary to applicable income tax guidance, Idaho Power does not record deferred income tax expense or benefit for certain income tax temporary differences and instead recognizes the tax impact currently (commonly referred to as flow-through accounting) for rate making and financial reporting. Therefore, Idaho Power's effective income tax rate is impacted as these differences arise and reverse. Idaho Power recognizes such adjustments as regulatory assets or liabilities if it is probable that such amounts will be recovered from or returned to customers in future rates.

IDACORP and Idaho Power use judgment, estimation, and historical data in developing the provision for income taxes and the reporting of tax-related assets and liabilities, including development of current year tax depreciation, capitalized repair costs, capitalized overheads, and other items. Income taxes can be impacted by changes in tax laws and regulations, interpretations by taxing authorities, changes to accounting guidance, and actions by federal or state public utility regulators. Actual income taxes could vary from estimated amounts and may result in favorable or unfavorable impacts to net income, cash flows, and tax-related assets and liabilities.

In compliance with the federal income tax requirements for the use of accelerated tax depreciation, Idaho Power records deferred income taxes related to its plant assets for the difference between income tax depreciation and book depreciation used for financial statement purposes. Deferred income taxes are recorded for other temporary differences unless accounted for using flow-through.
 
Investment tax credits earned on regulated assets are deferred and amortized to income over the estimated service lives of the related properties.
 
Income taxes are discussed in more detail in Note 2 - "Income Taxes."

Other Accounting Policies

Debt discount, expense, and premium are deferred and amortized over the terms of the respective debt issuances. Losses on reacquired debt and associated costs are amortized over the life of the associated replacement debt, as allowed under regulatory accounting.
New and Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures which expands the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. This ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The amendments in this ASU are required to be applied prospectively and are allowed to be applied retrospectively. IDACORP and Idaho Power adopted this ASU on January 1, 2025, for annual periods. The amendments in this ASU have been applied retrospectively. See Note 2 - "Income Taxes" for expanded disclosure required by this ASU.

There have been no other recently adopted accounting pronouncements that have had a material impact on IDACORP's or Idaho Power's consolidated financial statements.

Recent Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement (Subtopic 220-40): Disaggregation of Income Statement Expenses which requires disclosure of certain disaggregated income statement expense categories on an annual and interim basis. This ASU is effective for annual periods beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The amendments in this ASU are required to be applied prospectively and are allowed to be applied retrospectively. IDACORP and Idaho Power are currently evaluating the impact that adoption of this ASU will have on the notes to their respective consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software which amends certain aspects of the accounting for and disclosure of software costs. This ASU is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted. The amendments in this ASU are required to be applied prospectively and may be applied either retrospectively or using a modified prospective transition method. IDACORP and Idaho Power are currently evaluating the impact that adoption of this ASU will have on their respective consolidated financial statements.

There have been no other recent accounting pronouncements not yet adopted that are expected to have a material impact on IDACORP's or Idaho Power's consolidated financial statements.
v3.25.4
INCOME TAXES:
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Reconciliations between the statutory federal income tax rate and the effective tax rate for the years ended December 31 are presented below (in thousands of dollars, except percentages):
 IDACORP
 202520242023
Income before income taxes(1)
$309,757 $304,227 $288,491 
US federal income tax expense at statutory rate65,049 21.0 %63,888 21.0 %60,583 21.0 %
State income taxes, net of federal income tax effect(2)
12,480 4.0 %14,420 4.7 %13,675 4.7 %
Flow-through accounting and other effects of rate regulation: 
AFUDC(20,727)(6.7)%(17,015)(5.6)%(13,279)(4.6)%
Capitalized interest7,721 2.5 %5,493 1.8 %3,097 1.1 %
Removal costs(5,707)(1.8)%(5,109)(1.7)%(6,312)(2.2)%
Capitalized overhead costs(2,100)(0.7)%(2,100)(0.7)%(2,100)(0.7)%
Capitalized repair costs(24,150)(7.8)%(19,320)(6.4)%(24,360)(8.4)%
Depreciation22,001 7.1 %18,705 6.1 %18,041 6.3 %
Excess deferred income tax reversal(9,723)(3.1)%(10,047)(3.3)%(10,684)(3.7)%
Income tax return adjustments(8,046)(2.6)%1,844 0.6 %(8,229)(2.9)%
State related324 0.1 %6,043 2.0 %2,127 0.7 %
Other, net(808)(0.3)%776 0.3 %1,874 0.6 %
Tax credits:
Investment tax credits - federal (7,208)(2.3)%(4,480)(1.5)%(2,344)(0.8)%
Investment tax credits - Idaho— — %(3,791)(1.2)%(3,107)(1.1)%
Accumulated deferred investment tax credits - federal (7,017)(2.3)%(8,712)(2.9)%— — %
Accumulated deferred investment tax credits - Idaho(33,319)(10.8)%(21,119)(6.9)%— — %
Real estate-related tax credits - federal(7,790)(2.5)%(7,499)(2.5)%(6,869)(2.4)%
Nontaxable or nondeductible items(229)(0.1)%(516)(0.2)%120 — %
Other Items:
Real estate-related investment distributions(670)(0.2)%(1,611)(0.5)%(507)(0.2)%
Real estate-related investment amortization6,204 2.0 %5,203 1.7 %5,570 1.9 %
Total income tax (benefit) expense and effective tax rate$(13,715)(4.4)%$15,053 4.9 %$27,296 9.5 %
(1) Net of adjustment for income attributable to noncontrolling interests.
(2) State taxes in Idaho made up the majority (greater than 50%) of the tax effect in this category.
Idaho Power
202520242023
Income before income taxes$302,685 $298,286 $285,736 
US federal income tax expense at statutory rate63,564 21.0 %62,640 21.0 %60,005 21.0 %
State income taxes, net of federal income tax effect(1)
12,195 4.0 %14,139 4.7 %13,544 4.7 %
Flow-through accounting and other effects of rate regulation:
AFUDC(20,727)(6.8)%(17,015)(5.7)%(13,279)(4.6)%
Capitalized interest7,721 2.6 %5,493 1.8 %3,097 1.1 %
Removal costs(5,707)(1.9)%(5,109)(1.7)%(6,312)(2.2)%
Capitalized overhead costs(2,100)(0.7)%(2,100)(0.7)%(2,100)(0.7)%
Capitalized repair costs(24,150)(8.0)%(19,320)(6.5)%(24,360)(8.5)%
Depreciation22,001 7.3 %18,705 6.3 %18,041 6.3 %
Excess deferred income tax reversal(9,723)(3.2)%(10,047)(3.4)%(10,684)(3.7)%
Income tax return adjustments(8,581)(2.8)%1,794 0.6 %(7,732)(2.7)%
State related684 0.2 %6,361 2.1 %2,537 0.9 %
Other, net(577)(0.2)%759 0.3 %1,499 0.5 %
Tax credits:
Investment tax credits - federal(7,208)(2.4)%(4,480)(1.5)%(2,344)(0.8)%
Investment tax credits - Idaho— — %(3,791)(1.3)%(3,107)(1.1)%
Accumulated deferred investment tax credits - federal(7,017)(2.3)%(8,712)(2.9)%— — %
Accumulated deferred investment tax credits - Idaho(33,319)(11.0)%(21,119)(7.1)%— — %
Nontaxable or nondeductible items(233)(0.1)%(517)(0.2)%121 — %
Total income tax (benefit) expense and effective tax rate$(13,177)(4.4)%$17,6815.9 %$28,92610.1 %
(1) State taxes in Idaho made up the majority (greater than 50%) of the tax effect in this category.

The items comprising income tax expense for the years ended December 31 are presented below (in thousands of dollars):
 IDACORPIdaho Power
 202520242023202520242023
Income taxes current:      
Federal$13,684 $19,252 $(13,253)$27,816 $20,447 $(4,757)
State5,754 15,750 5,634 8,128 12,674 3,627 
Total19,438 35,002 (7,619)35,944 33,121 (1,130)
Income taxes deferred:      
Federal(28,931)(73,565)(18,419)(35,697)(67,549)(19,086)
State(16,431)(15,608)(3,269)(18,826)(12,735)(1,051)
Total(45,362)(89,173)(21,688)(54,523)(80,284)(20,137)
Investment tax credits:      
Deferred52,946 102,946 55,644 52,946 102,946 55,644 
Restored(47,544)(38,102)(5,451)(47,544)(38,102)(5,451)
Total5,402 64,844 50,193 5,402 64,844 50,193 
Real estate-related investments at IFS6,807 4,380 6,410 — — — 
Total income tax (benefit) expense$(13,715)$15,053 $27,296 $(13,177)$17,681 $28,926 
The components of the net deferred tax liability as of December 31 are presented below (in thousands of dollars):
 IDACORPIdaho Power
 2025202420252024
Deferred tax assets:    
Regulatory liabilities$121,489 $127,634 $121,489 $127,634 
Deferred compensation24,483 24,782 24,483 24,782 
Deferred revenue70,326 64,592 70,326 64,592 
Tax credits70,854 66,783 67,930 53,859 
Partnership investments24,157 18,450 24,157 18,450 
Retirement benefits19,533 26,495 19,533 26,495 
Other37,884 24,869 37,831 24,826 
Total368,726 353,605 365,749 340,638 
Deferred tax liabilities:  
Property, plant and equipment235,849 243,454 235,849 243,454 
Regulatory assets821,346 811,054 821,346 811,054 
Partnership investments4,309 4,613 — — 
Retirement benefits65,214 75,716 65,214 75,716 
Wildfire mitigation plan deferral22,252 16,272 22,252 16,272 
Other22,641 24,727 22,027 23,588 
Total1,171,611 1,175,836 1,166,688 1,170,084 
Net deferred tax liabilities$802,885 $822,231 $800,939 $829,446 

IDACORP's tax allocation agreement provides that each member of its consolidated group compute its income taxes on a separate company basis. Amounts payable or refundable are settled through IDACORP and are reported as taxes accrued or income taxes receivable, respectively, on the consolidated balance sheets of Idaho Power. See Note 1 - "Summary of Significant Accounting Policies" for further discussion of accounting policies related to income taxes.

Supplemental Disclosure of Cash Flow Information

Supplemental cash flow information related to cash paid for income taxes for the years ended December 31 are presented below (in thousands of dollars):
 IDACORP
 202520242023
Federal$18,000 $14,000 $— 
Idaho5,600 10,300 5,300 
Other892 900 900 
Total cash paid for income taxes$24,492 $25,200 $6,200 
 Idaho Power
 202520242023
Federal$18,382 $30,615 $34,604 
Idaho7,522 5,598 15,765 
Other841 905 1,446 
Total cash paid to IDACORP related to income taxes$26,745 $37,118 $51,815 

Tax Credit Carryforwards

As of December 31, 2025, IDACORP had $70.9 million of Idaho investment tax credit carryforward which expires from 2034 to 2039.
Uncertain Tax Positions

IDACORP and Idaho Power believe that they have no material income tax uncertainties for 2025 and prior tax years. Both companies recognize interest accrued related to unrecognized tax benefits as interest expense and penalties as other expense. 
 
IDACORP and Idaho Power are subject to examination by their major tax jurisdictions - United States federal and the State of Idaho. The open tax years for examination are 2023 through 2025 for federal and 2022 through 2025 for Idaho. In May 2009, IDACORP formally entered the U.S. Internal Revenue Service Compliance Assurance Process (CAP) program for its 2009 tax year and has remained in the CAP program for all subsequent years.
v3.25.4
REGULATORY MATTERS:
 12 Months Ended
Dec. 31, 2025
Regulated Operations [Abstract]  
Regulatory Matters REGULATORY MATTERS
IDACORP’s and Idaho Power’s financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. Included below is a summary of Idaho Power's regulatory assets and liabilities, as well as a discussion of notable regulatory matters affecting customer rates.
 
Regulatory Assets and Liabilities
 
The application of accounting principles related to regulated operations sometimes results in Idaho Power recording some expenses and revenues in a different period than when an unregulated enterprise would record those expenses and revenues. Regulatory assets represent incurred costs that have been deferred because it is probable they will be recovered from customers through future rates. Regulatory liabilities represent obligations to make refunds to customers for previous collections, or represent amounts collected in advance of incurring an expense.
The following table presents a summary of Idaho Power’s regulatory assets and liabilities (in thousands of dollars):
As of December 31, 2025
Remaining
Amortization Period
Earning a Return(1)
Not Earning a ReturnTotal as of December 31,
Description20252024
Regulatory Assets:    
Income taxes(2)
 $— $821,346 $821,346 $811,054 
Pension expense deferrals(3)
245,508 1,832 247,340 252,197 
Mark-to-market assets(4)
— 49,520 49,520 28,118 
Unfunded postretirement benefits(5)
— — — 18,824 
Power supply costs(6)
— — — 18,507 
Fixed cost adjustment(6)
2026-20278,205 (1,350)6,855 17,761 
North Valmy plant settlements(6)
2026-203383,941 — 83,941 80,767 
Jim Bridger plant settlement(6)
2026-2030151,739 12,921 164,660 147,451 
Wildfire Mitigation Plan deferral(6)
— 91,670 91,670 63,966 
Asset retirement obligations(7)
 — 62,166 62,166 37,842 
Long-term service agreement2026-204311,313 7,326 18,639 19,796 
Other2026-20564,596 13,725 18,321 11,089 
Total $505,302 $1,059,156 $1,564,458 $1,507,372 
Regulatory Liabilities:     
Income taxes(8)
 $— $121,489 $121,489 $127,634 
Depreciation-related excess deferred income taxes(9)
128,180 — 128,180 137,903 
Removal costs(7)
 — 162,652 162,652 166,181 
Investment tax credits — 235,724 235,724 230,322 
Deferred revenue-AFUDC(10)
 224,083 56,896 280,979 250,942 
Energy efficiency program costs16,493 — 16,493 9,277 
Power supply costs(6)
2026-202742,419 — 42,419 3,949 
Unfunded postretirement benefits(5)
 — 11,785 11,785 — 
Tax reform accrual for future amortization(11)
— 44,423 44,423 42,266 
Other4,168 3,839 8,007 15,852 
Total $415,343 $636,808 $1,052,151 $984,326 
(1) Earning a return includes either interest or a return on the investment as a component of rate base at the allowed rate of return. The interest rate on deferral accounts is published annually by the IPUC and OPUC. The applicable rates for 2025 were 5.0% and 4.5%, respectively.
(2) Represents flow-through income tax accounting differences which have a corresponding deferred tax liability disclosed in Note 2 - "Income Taxes."
(3) Idaho Power records a regulatory asset for the difference between net periodic pension cost and pension cost considered for rate-making purposes relating to Idaho Power's defined benefit pension plan. In its Idaho jurisdiction, Idaho Power’s inclusion of pension costs for the establishment of retail rates is based upon contributions made to the pension plan. This regulatory asset account represents the difference between cumulative cash contributions and amounts collected in rates. Deferred costs are amortized into expense as the amounts are provided for in Idaho retail revenues.
(4) This item is discussed in more detail in Note 16 - "Derivative Financial Instruments."
(5) Represents the unfunded obligation of Idaho Power’s pension and postretirement benefit plans, which are discussed in Note 12 - "Benefit Plans."
(6) This item is discussed in more detail in this Note 3 - "Regulatory Matters."
(7) Asset retirement obligations and removal costs are discussed in Note 14 - "Asset Retirement Obligations (ARO)."
(8) Represents the tax gross-up related to the depreciation-related excess deferred income taxes and investment tax credits included in this table and has a corresponding deferred tax asset disclosed in Note 2 - "Income Taxes."
(9) For depreciation-related temporary differences under the normalized tax accounting method, the resulting excess deferred taxes will flow back to customers ratably over the remaining regulatory lives of Idaho Power's plant assets under the alternative method provided in the statute.
(10) Idaho Power is collecting revenue in the Idaho jurisdiction for AFUDC on HCC relicensing costs but is deferring revenue recognition of the amounts collected until the license is issued and the asset is placed in service under the new license.
(11) Represents amount accrued under the May 2018 Idaho tax reform settlement stipulation (described below) for the future amortization of existing or future unspecified regulatory deferrals that would otherwise be a future liability recoverable from Idaho customers.
Idaho Power’s regulatory assets and liabilities are typically amortized over the period in which they are reflected in customer rates. In the event that recovery of Idaho Power’s costs through rates becomes unlikely or uncertain, regulatory accounting would no longer apply to some or all of Idaho Power’s operations and the items above may represent stranded investments. If not allowed full recovery of these items, Idaho Power would be required to write off the applicable portion, which could have a materially adverse financial impact.

Power Cost Adjustment Mechanisms and Deferred Power Supply Costs

In both its Idaho and Oregon jurisdictions, Idaho Power's power cost adjustment mechanisms address the volatility of power supply costs and provide for annual adjustments to the rates charged to its retail customers. The power cost adjustment mechanisms compare Idaho Power's actual net power supply costs (primarily fuel and purchased power less wholesale energy sales) against net power supply costs being recovered in Idaho Power's retail rates. Under the power cost adjustment mechanisms, certain differences between actual net power supply costs incurred by Idaho Power and costs being recovered in retail rates are recorded as a deferred charge or accrued as a credit on the balance sheets for future recovery or refund. The power supply costs deferred or accrued primarily result from changes in the levels of Idaho Power's own hydroelectric generation, changes in contracted power purchase prices and volumes, changes in wholesale market prices and transaction volumes, and changes in fuel prices.

Idaho Jurisdiction Power Cost Adjustment Mechanism: In the Idaho jurisdiction, the annual PCA consists of (a) a forecast component, based on a forecast of net power supply costs in the coming year as compared with net power supply costs included in base rates; and (b) a balancing component that trues up the difference between the previous year’s actual net power supply costs and the costs collected in the previous year's forecast component. The latter component ensures that, over time, the actual collection or refund of net power supply costs matches the amounts authorized. The Idaho-jurisdiction PCA year runs from April 1 through March 31. Amounts deferred or accrued during the PCA year are primarily recovered or refunded during the subsequent June 1 through May 31 period. The PCA mechanism includes:

•a cost or benefit sharing ratio that allocates the deviations in net power supply expenses between customers (95 percent) and Idaho Power (5 percent), with the exceptions of expenses associated with PURPA power purchases, export credit mechanisms, a battery storage lease, and demand response incentive payments, which are allocated 100 percent to customers; and
•a sales-based adjustment intended to ensure that power supply expense recovery resulting solely from sales volume changes does not distort the results of the mechanism.

Beginning April 1, 2024, the difference between actual and base-level third-party transmission wheeling revenues are tracked and incorporated into the balancing component of the PCA, as authorized by the IPUC in March 2025. In May 2025, the IPUC issued an order approving a $94.8 million net decrease in PCA revenues as compared with the prior collection period, effective for the PCA collection period from June 1, 2025, to May 31, 2026. The net decrease in PCA revenues reflected a decrease in the balancing adjustment, which was due primarily to the completed recovery of the 2023 deferred PCA costs, which were recovered over a two-year period as ordered by the IPUC. The 2025 Settlement Stipulation, described in more detail below, modified PCA collection effective January 1, 2026, to account for the new system base level NPSE of $468.8 million.

The table below summarizes the three most recent Idaho-jurisdiction PCA rate adjustments from Idaho Power's annual PCA filings, which also include non-PCA-related rate adjustments as ordered by the IPUC:
Effective Date$ Change (millions)Notes
June 1, 2025$(94.8)The $94.8 million net decrease in PCA rates reflects a decrease in the balancing adjustment, which is due primarily to the completed recovery of the 2023 balancing adjustment, which was recovered over two years.
June 1, 2024$(35.7)The $35.7 million net decrease in PCA rates reflected forecasted improved hydropower generation during the April 2024 to March 2025 PCA deferral period.
June 1, 2023$105.1 The $105.1 million increase in PCA rates reflected higher market energy and natural gas prices, combined with lower than-expected low-cost hydropower generation and limited coal supply. The increased rate also reflected an expectation of continued elevated market energy prices and natural gas prices in the forecast period.
 
Oregon Jurisdiction Power Cost Adjustment Mechanism: Idaho Power’s power cost recovery mechanism in Oregon has two components: an APCU and a power cost adjustment mechanism (PCAM). The APCU allows Idaho Power to reestablish its Oregon base net power supply costs annually, separate from a general rate case, and to forecast net power supply costs for the
upcoming water year. The PCAM is a true-up filed annually in February. The PCAM filing calculates the deviation between actual net power supply expenses incurred for the preceding calendar year and the net power supply expenses recovered through the APCU for the same period. In May 2025, the OPUC approved a settlement stipulation between Idaho Power and intervening parties for its APCU in Oregon. The settlement resulted in an overall rate decrease of $1.8 million in Oregon-jurisdictional rates effective June 1, 2025. Idaho Power's 2024 and 2023 June 1 APCU rate changes were a decrease of $6.9 million, and an increase of $7.7 million, respectively.
 
Notable Idaho Base Rate Adjustments

Idaho base rates were most recently established through a general rate case in 2025, which was resolved by the 2025 Settlement Stipulation, with rate changes effective January 1, 2026. Previously, base rates were established in the 2024 Idaho Limited-Issue Rate Case and in a general rate case in 2023, which was resolved by the 2023 Settlement Stipulation.

2025 Idaho General Rate Case: In May 2025, Idaho Power filed a general rate case with the IPUC. The general rate case was resolved in December 2025, when the IPUC issued an order (the Order) approving the 2025 Settlement Stipulation, entered into by Idaho Power, the Staff of the IPUC, and several of the intervening parties.

The 2025 Settlement Stipulation contains the following significant terms, among other items:

•Idaho Power will implement revised tariff schedules designed to increase annual Idaho-jurisdictional retail revenue by approximately $110.0 million, or 7.48 percent, effective January 1, 2026. The approximate $110.0 million of additional annual revenue is inclusive of a PCA rate increase of $13.1 million;
•a 9.6 percent return on equity and a 7.41 percent authorized rate of return based on the filed cost of debt and capital structure, applied to an Idaho-jurisdictional rate base of approximately $4.9 billion (which is largely based on the average of monthly average plant balances for January through December 2025);
•a base level NPSE of approximately $468.8 million, a decrease of $16.1 million from the currently approved base level NPSE;
•updates to the FCA mechanism rates to reflect approved fixed costs and Idaho Power’s proposed rate designs;
•continued deferral of certain wildfire mitigation related costs, including incremental vegetation management and insurance costs, as measured primarily from 2024 actual costs, through the earlier of Idaho Power's next general rate case or 2027;
•modifications to Idaho Power’s ADITC and revenue sharing mechanism: (1) to include an additional amount of investment tax credits equal to the total of existing ADITCs not currently eligible for accelerated amortization under the mechanism and all investment tax credits generated through the end of calendar-year 2028; (2) to establish an annual cap of $55 million on the amount of accelerated amortization of ADITCs for calendar year 2026 and thereafter; (3) to re-affirm the existing minimum specified Idaho-jurisdiction return on year-end equity (Idaho ROE) of 9.12 percent for additional amortization of ADITCs; (4) to re-affirm the existing 9.6 percent Idaho ROE as the threshold for revenue sharing of Idaho-jurisdiction earnings between Idaho Power and Idaho customers; and (5) to continue to implement all revenue sharing through the PCA; and
•agreement that Idaho Power’s share of capital expenditures at jointly-owned coal-fired plants through year-end 2024 are included for recovery in the stipulated revenue requirement.

At the time of the 2025 Settlement Stipulation, Staff of the IPUC had completed its prudence review of capital projects included in the test year rate base through July 2025. The IPUC Staff will address the prudence of investments placed in service after July 2025 in Idaho Power’s next Idaho general rate case. Neither the Order nor the 2025 Settlement Stipulation precludes Idaho Power from filing another general rate case in Idaho at any time in the future.

Under the modified ADITC and Revenue Sharing mechanism, if Idaho Power's annual Idaho ROE in any year exceeds 9.6 percent, the amount of earnings exceeding 9.6 percent will be allocated 80.0 percent to Idaho Power's Idaho customers as a rate reduction to be effective at the time of the subsequent year's PCA, and 20.0 percent to Idaho Power. In 2025, Idaho Power recorded amortization of $40.3 million of ADITC. Accordingly, at December 31, 2025, $167.8 million of ADITC remained available for future use under the terms of the 2025 Settlement Stipulation, the 2023 Settlement Stipulation, and the 2018 Settlement Stipulation described below.

2024 Idaho Limited-Issue Rate Case: Idaho Power filed the 2024 Idaho Limited-Issue Rate Case in May 2024, focused on revenue requirements for 2024 incremental plant additions and incremental ongoing labor costs. On December 31, 2024, the IPUC issued its order in the 2024 Idaho Limited-Issue Rate Case, providing that Idaho Power implement revised tariff schedules designed to increase annual Idaho-jurisdictional retail revenue by $50.6 million, or 3.7 percent, effective January 1,
2025. The order was subsequently modified by an errata issued on January 21, 2025, which reduced the revenue increase called for under the order to $50.1 million. The order did not adjust the overall rate of return approved in the 2023 Settlement Stipulation or make changes to Idaho regulatory mechanisms such as the PCA, FCA, and energy efficiency rider.

2023 Idaho General Rate Case: In June 2023, Idaho Power filed a general rate case with the IPUC. In December 2023, the IPUC issued an order approving the 2023 Settlement Stipulation settling the general rate case. The order and the 2023 Settlement Stipulation provided for the following significant terms, among other items:

•Implementation of revised tariff schedules designed to increase annual Idaho-jurisdictional retail revenue by $54.7 million, or 4.25 percent, effective January 1, 2024. The $54.7 million of additional annual revenue was net of an Idaho-jurisdiction PCA rate decrease of $168.3 million and a reduction to annual energy efficiency rider collection of $3.5 million, each of which was transferred into base rates;
•A 9.6 percent return on equity and a 7.247 percent authorized rate of return based on a non-specified cost of debt and capital structure, applied to an Idaho-jurisdictional rate base of approximately $3.8 billion;
•Modifications to the PCA including establishment of a new level of base net power supply expense of $484.9 million, which included the transfer of $168.3 million from then-current PCA rates to base rates;
•An annual $18 million increase in collection of Idaho Power’s regulatory asset associated with its defined benefit pension plan contributions;
•Modifications to Idaho Power’s ADITC and revenue sharing mechanism beginning in 2024 to, among other items, (1) establish a minimum specified Idaho ROE of 9.12 percent for additional amortization of ADITCs; and (2) establish a 9.6 percent Idaho ROE as the threshold for revenue sharing of Idaho-jurisdiction earnings between Idaho Power and Idaho customers; and
•Agreement that Idaho Power’s capital expenditures through year-end 2022 were prudently incurred.

May 2018 Idaho Tax Reform Settlement Stipulation: In May 2018, the IPUC issued an order approving a settlement stipulation (2018 Settlement Stipulation) related to income tax reform. Beginning June 1, 2018, the 2018 Settlement Stipulation provided an annual (a) $18.7 million reduction to Idaho customer base rates and (b) $7.4 million amortization of existing regulatory deferrals for specified items or future amortization of other existing or future unspecified regulatory deferrals that would otherwise be a future regulatory asset recoverable from Idaho customers. The 2018 Settlement Stipulation also provided for the indefinite extension, with modifications, of a previous 2014 settlement stipulation beyond its termination date of December 31, 2019, with modified terms related to the ADITC and revenue sharing mechanism that became effective January 1, 2020. Idaho Power’s base rates and ADITC and revenue sharing mechanism were modified by the 2025 Settlement Stipulation and the 2023 Settlement Stipulation, as described above.

North Valmy Base Rate Adjustment Settlement Stipulations: Idaho Power has settlement stipulations in place in Idaho and Oregon related to the end of its participation in coal-fired operations of both units of its jointly-owned North Valmy plant. Idaho Power ceased participation in coal-fired operations at unit 1 in 2019, and coal-fired operations at unit 2 ceased at the end of 2025. The IPUC-approved settlement stipulation provides for (1) accelerated depreciation for the North Valmy plant to allow the coal-related plant assets to be fully depreciated and recovered by December 31, 2028, (2) Idaho Power to use prudent and commercially reasonable efforts to end its participation in coal-fired operations at the North Valmy plant as described above, (3) a balancing account to track the incremental costs, benefits, and required regulatory accounting associated with ceasing participation in coal-fired operations at the North Valmy plant, and (4) increased customer rates related to the associated incremental annual levelized revenue requirement. If actual costs incurred differ from forecasted amounts included in the settlement stipulation, collection or refund of any differences would be subject to regulatory approval. The 2025 Settlement Stipulation made modifications to the Idaho North Valmy settlement stipulation, including updated coal-related investments through 2024 and investment forecasts through 2025. On December 31, 2025, the accelerated depreciation associated with coal-related investments at the North Valmy plant was completed and the amounts removed from Oregon customer rates.

Jim Bridger Power Plant Rate Base Adjustment and Recovery: In 2022, the IPUC authorized Idaho Power to (1) accelerate depreciation for the Jim Bridger plant to allow the coal-related plant assets to be fully depreciated and recovered by December 31, 2030, (2) establish a balancing account to track the incremental costs, benefits, and required regulatory accounting associated with its plan to cease participation in coal-fired operations at the Jim Bridger plant in 2028, and (3) increase customer rates related to the associated incremental annual levelized revenue requirement (Bridger Recovery Mechanism). The 2025 Settlement Stipulation made modifications to the Bridger Recovery Mechanism, including updated coal-related investments through 2024, updated investment forecasts through 2028, and the inclusion of total other O&M expenses associated with operations of the Jim Bridger plant. The Bridger Recovery Mechanism allows Idaho Power to earn a return on and recover through 2030 the net book value of coal-related assets at the Jim Bridger plant as of December 31, 2024, as well as forecasted coal-related investments.
Idaho Power anticipates making future filings with the IPUC that may result in periodic adjustments to rates to true up variances between revenue collections and actual revenue requirement amounts.

Recovery of Incremental AFUDC Associated with HCC: In March 2025, Idaho Power filed an application with the IPUC requesting an order authorizing an increase of $29.7 million in the annual cash collection of incremental financing costs, or AFUDC, associated with relicensing of the HCC project. In September 2025, the IPUC approved Idaho Power's proposed increase in annual cash collection to recover AFUDC associated with relicensing of the HCC project, effective October 1, 2025.

Other Notable Idaho Regulatory Matters Affecting Customer Rates

Fixed Cost Adjustment: The FCA mechanism, applicable to Idaho residential and small commercial customers, is designed to remove a portion of Idaho Power’s financial disincentive to invest in energy efficiency programs by separating (or decoupling) the recovery of fixed costs from the variable kWh charge and linking it instead to a set amount per customer. Under Idaho Power's current rate design, recovery of a portion of fixed costs is included in the variable kWh charge, which may result in over-collection or under-collection of fixed costs. To return over-collection to customers or to collect under-collection from customers, the FCA mechanism allows Idaho Power to accrue, or defer, the difference between the authorized fixed-cost recovery amount per customer and the actual fixed costs per customer recovered by Idaho Power during the year. The IPUC has discretion to cap the annual increase in the FCA recovery at 3 percent of base revenue, with any excess deferred for collection in a subsequent year. In May 2025, the IPUC issued an order approving a $39.8 million decrease in recovery from the FCA from $36.8 million to negative $3.1 million for the 2024 FCA deferral, reflecting a refund to residential and small commercial customers of the 2024 FCA deferral balance of $3.1 million, with new rates effective for the period from June 1, 2025 to May 31, 2026. Beginning with the 2026 FCA deferral, the 2025 Settlement Stipulation updated the authorized fixed-cost recovery amount per customer and per unit of energy within the FCA mechanism to support Idaho Power's proposed rate designs, as noted above.

The following table summarizes FCA amounts approved for (refund) or collection in the prior three FCA years:
FCA YearPeriod Rates in EffectAnnual Amount
 (in millions of dollars)
2024June 1, 2025 to May 31, 2026$(3.1)
2023June 1, 2024 to May 31, 2025$36.8
2022June 1, 2023 to May 31, 2024$25.1

Wildfire Mitigation Cost Recovery: In September 2025, the IPUC granted Idaho Power's request to defer for future recovery an estimated $22.2 million of newly identified incremental O&M costs expected to be incurred in 2025 associated with expanded wildfire mitigation efforts. The IPUC also authorized the continued deferral of incremental insurance costs above the 2022 base established in the 2023 Settlement Stipulation. The 2025 Settlement Stipulation authorized Idaho Power to defer incremental O&M and insurance costs above the 2024 base through the earlier of the next general rate case or 2027. As of December 31, 2025, Idaho Power’s deferral balance of Idaho-jurisdiction costs related to the WMP was $88.2 million, of which $73.9 million is approved to be amortized and collected in Idaho rates.

Hells Canyon Complex Relicensing Costs: In December 2025, Idaho Power filed an application with the IPUC requesting a determination that Idaho Power's expenditures from January 1, 2016 through year-end 2025 on relicensing of the HCC, including approximately $305 million incurred from January 1, 2016 through September 30, 2025, were prudently incurred, and thus eligible for inclusion in retail rates in a future regulatory proceeding. As of the date of this report, the case remains pending.

Notable Oregon Regulatory Matters Affecting Customer Rates

Oregon Base Rate Changes: Oregon base rates were most recently established in a general rate case that Idaho Power filed with the OPUC in December 2023 and a separate case approved by the OPUC in December 2025 described below. In September 2024, the OPUC issued an order approving the 2024 Oregon Settlement Stipulations, which are settlement stipulations among Idaho Power and intervening parties settling the general rate case.
The OPUC order and the 2024 Oregon Settlement Stipulations contain the following significant terms, among other items:

•Implementation of revised tariff schedules designed to increase annual Oregon-jurisdiction revenue by $6.7 million, or 12.14 percent; and
•A 9.5 percent Oregon-jurisdiction return on year-end equity and a 7.302 percent Oregon-jurisdiction authorized rate of return based on a 5.104 percent cost of debt and capital structure of 50 percent debt and 50 percent equity, applied to an Oregon-jurisdictional rate base of approximately $188.9 million. The $188.9 million of rate base excludes rate base associated with Idaho Power's jointly-owned North Valmy coal facilities, the costs of which are recovered under the separate rate mechanism noted above.

Rate changes from the 2024 Oregon Settlement Stipulations became effective on October 15, 2024. The 2024 Oregon Settlement Stipulations do not preclude Idaho Power from filing another general rate case or other limited issue proceeding in Oregon at any time in the future.

In December 2025, the OPUC issued an order approving a decrease in Oregon rates reflecting three offsetting adjustments: a decrease in rates of $1.2 million due to the removal of coal-related costs at the North Valmy plant, a decrease in rates of $0.1 million to return an outstanding regulatory liability related to the former Boardman plant, and an increase in rates of $0.7 million to recover the amortization of deferred 2023 wildfire mitigation costs. The combined result was an overall rate decrease of $0.6 million or 0.9 percent, effective January 1, 2026.

Wildfire Mitigation Cost Recovery: In December 2025, Idaho Power filed its 2026-2028 WMP with the OPUC along with an application requesting authorization to defer for future recovery an estimated $3.1 million of newly identified incremental costs expected to be incurred in 2026 associated with expanded wildfire mitigation efforts. As of the date of this report, the case remains pending. As of December 31, 2025, Idaho Power’s deferral balance of Oregon-jurisdiction costs related to the WMP was $3.5 million, of which $0.7 million is approved to be amortized and collected in Oregon rates.

Federal Regulatory Matters - Open Access Transmission Tariff Rates

Idaho Power uses a formula rate for transmission service provided under its OATT, which allows transmission rates to be updated annually based primarily on actual financial and operational data Idaho Power files with the FERC and allows Idaho Power to recover costs associated with its transmission system. Idaho Power's OATT rates submitted to the FERC in Idaho Power's four most recent annual OATT Final Informational Filings were as follows:
Period Rates in EffectOATT Rate (per kW-year)
October 1, 2025 to September 30, 2026$34.16 
October 1, 2024 to September 30, 2025$31.55 
October 1, 2023 to September 30, 2024$30.74 
October 1, 2022 to September 30, 2023$31.42 
Idaho Power's current OATT rate is based on a net annual transmission revenue requirement of $148.5 million, which represents the OATT formulaic determination of Idaho Power's net cost of providing OATT-based transmission service.
v3.25.4
REVENUES:
 12 Months Ended
Dec. 31, 2023
Revenues [Abstract]  
REVENUES REVENUES
 
The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power (in thousands of dollars):
Year Ended December 31,
 202520242023
Electric utility operating revenues:
Revenue from contracts with customers$1,746,972 $1,768,881 $1,639,612 
Alternative revenue programs and derivative revenues62,637 54,084 123,282 
Total electric utility operating revenues$1,809,609 $1,822,965 $1,762,894 
Revenues from Contracts with Customers

Revenues from contracts with customers are primarily related to Idaho Power’s regulated tariff-based sales of energy or related services. Generally, tariff-based sales do not involve a written contract, but are classified as revenues from contracts with customers. Idaho Power assesses revenues on a contract-by-contract basis to determine the nature, amount, timing, and uncertainty, if any, of revenues being recognized.

The following table presents revenues from contracts with customers disaggregated by revenue source (in thousands of dollars):

Year Ended December 31,
 202520242023
Revenues from contracts with customers:
Retail revenues:
 Residential (includes $3,972, $(2,686), and $37,233, respectively, related to the FCA(1))
$708,126 $700,586 $684,649 
 Commercial (includes $(76), $(170), and $1,338, respectively, related to the FCA(1))
394,313 397,385 378,330 
Industrial270,571 267,211 244,538 
Irrigation198,468 196,401 173,929 
Deferred revenue related to HCC relicensing AFUDC(2)
(15,120)(8,803)(8,780)
Total retail revenues1,556,358 1,552,780 1,472,666 
Less: FCA mechanism revenues(1)
(3,896)2,856 (38,571)
Wholesale energy sales55,989 73,908 63,421 
Transmission wheeling-related revenues72,231 79,173 80,357 
Energy efficiency program revenues30,480 27,581 31,948 
Other revenues from contracts with customers35,810 32,583 29,791 
Total revenues from contracts with customers$1,746,972 $1,768,881 $1,639,612 
(1) The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
(2) The IPUC allows Idaho Power to recover a portion of the AFUDC on construction work in progress related to the HCC relicensing process in its Idaho jurisdiction, even though the relicensing process is not yet complete and the costs have not been moved to utility plant in service. Effective October 1, 2025, Idaho Power began collecting $38.5 million annually. Prior to October 1, 2025, Idaho Power collected $8.8 million annually. For more information refer to Note 3 - "Regulatory Matters." Amounts collected in the Idaho jurisdiction are recognized as deferred revenue until the license is issued and the accumulated license costs approved for recovery are placed in service.

Retail Revenues: Idaho Power’s retail revenues primarily relate to the sale of electricity to customers based on regulated tariff-based prices. Idaho Power recognizes retail revenues in amounts for which it has the right to invoice the customer in the period when energy is delivered or services are provided to customers. The total energy price generally has a fixed component related to having service available and a usage-based component related to the demand, delivery, and consumption of energy. The revenues recognized reflect the consideration Idaho Power expects to be entitled to in exchange for energy and services. Retail customers are classified as residential, commercial, industrial, or irrigation. Approximately 95 percent of Idaho Power's retail revenue originates from customers located in Idaho, with the remainder originating from customers located in Oregon. Idaho Power’s retail customer rates are based on Idaho Power’s cost of service and are determined through general rate case proceedings, settlement stipulations, and other filings with the IPUC and OPUC. Changes in rates and changes in customer demand are typically the primary causes of fluctuations in retail revenue from period to period. The primary influences on changes in customer demand for electricity are weather, economic conditions (including growth in the number of Idaho Power customers), and energy efficiency. Idaho Power's utility revenues are not earned evenly during the year.

Retail revenues are billed monthly based on meter readings taken throughout the month. Payments for amounts billed are generally due from the customer within 15 days of billing. Idaho Power accrues estimated unbilled revenues for energy or related services delivered to customers but not yet billed at period-end based on actual meter readings at period-end and estimated rates.

Residential Customers: Idaho Power’s energy sales to residential customers typically peak during the summer cooling season and winter heating season. Extreme temperatures increase sales to residential customers who use electricity for cooling and
heating, compared with normal temperatures. Idaho Power's rate structure provides for higher rates during the summer when overall system loads are at their highest, and includes tiers such that rates increase as a customer's consumption level increases. These seasonal and tiered rate structures contribute to the seasonal fluctuations in revenues and earnings. Economic and demographic conditions can also affect residential customer demand; strong job growth and population growth in Idaho Power’s service area have led to higher customer growth in recent years. Residential demand is also impacted by energy efficiency initiatives. Idaho Power’s FCA mechanism mitigates some of the fluctuations caused by weather and energy efficiency initiatives.

Commercial Customers: Most businesses are included in Idaho Power's commercial customer class, as are small industrial companies, and public street and highway lighting accounts. Idaho Power’s commercial customers are less influenced by weather conditions than residential customers, although weather does still affect commercial customer energy use. Economic conditions, including manufacturing activity levels, and energy efficiency initiatives also affect energy use of commercial customers.

Industrial Customers: Industrial customers consist of large industrial companies, including special contract customers. Energy use of industrial customers is primarily driven by economic conditions, with weather having little impact on this customer class.

Irrigation Customers: Irrigation customers use electricity to operate irrigation pumps, primarily during the agricultural growing season. The amount and timing of precipitation as well as temperature levels affect the timing and amounts of sales to irrigation customers, with increased precipitation during the agricultural growing season generally resulting in decreased sales.

Wholesale Energy Sales: As a public utility under the FPA, Idaho Power has been granted the authority to charge market-based rates for wholesale energy sales under its FERC tariff. Idaho Power’s wholesale electricity sales are primarily to utilities and power marketers and are predominantly short-term and consist of a single performance obligation satisfied as energy is transferred to the counterparty. Idaho Power's wholesale energy sales depend largely on the availability of generation resources in excess of the amount necessary to serve customer loads as well as adequate market power prices and demand at the time when those resources are available. A reduction in any of those factors may lead to lower wholesale energy sales.

Transmission Wheeling-Related Revenues: As a public utility under the FPA, Idaho Power has been granted the authority to provide cost-based wholesale and retail access transmission services under its OATT. Services under the OATT are offered on a nondiscriminatory basis such that all potential customers have an equal opportunity to access the transmission system. Idaho Power’s transmission revenue is primarily related to third parties reserving capacity on Idaho Power’s transmission system to transmit electricity through Idaho Power’s service area. Reservations are predominantly short-term contracts or on-demand when available, but may be part of a long-term capacity contract. Transmission wheeling-related revenues consist of a single performance obligation satisfied as capacity on Idaho Power’s transmission system is provided to the third party. Transmission wheeling-related revenues are affected by changes in Idaho Power’s OATT rate and customer demand. Demand for transmission services can be affected by regional market factors, such as loads and generation of utilities in Idaho Power’s region.

Energy Efficiency Program Revenues: Idaho Power collects most of its energy efficiency program costs through an energy efficiency rider on customer bills. The rider collections are deferred until expenditures are incurred. Energy efficiency program expenditures funded through the rider are reported as an operating expense with an equal amount recognized in revenues, resulting in no net impact on earnings. The cumulative variance between expenditures and amounts collected through the rider is recorded as a regulatory asset or liability. A liability balance indicates that Idaho Power has collected more than it has spent, and an asset balance indicates that Idaho Power has spent more than it has collected. At December 31, 2025, Idaho Power's energy efficiency rider balances were a $13.4 million regulatory liability in the Idaho jurisdiction and a $3.1 million regulatory liability in the Oregon jurisdiction.

Alternative Revenue Programs and Other Revenues

While revenues from contracts with customers make up most of Idaho Power’s revenues, the IPUC has authorized the use of an additional regulatory mechanism, the FCA mechanism, which may increase or decrease tariff-based retail customer rates. The FCA mechanism is described in Note 3 - "Regulatory Matters." The FCA mechanism revenues include only the initial recognition of FCA revenues when they meet the regulator-specified conditions for recognition. Revenue from contracts with customers excludes the portion of the tariff price representing FCA revenues that Idaho Power initially recorded in prior periods when revenues met regulator-specified conditions. When Idaho Power includes those amounts in the price of utility service and billed to customers, Idaho Power records such amounts as recovery of the associated regulatory asset or liability and not as revenues.
Derivative revenues include gains from settled electricity swaps and sales of electricity under forward sales contracts that are bundled with RECs. Related to these forward sales, Idaho Power simultaneously enters into forward purchases of electricity for the same quantity at the same location, which are recorded in purchased power on the consolidated statements of income. For more information on settled electricity swaps, see Note 16 - "Derivative Financial Instruments."

The table below presents the FCA mechanism revenues and derivative revenues (in thousands of dollars):
Year Ended December 31,
 202520242023
Alternative revenue programs and derivative revenues:
FCA mechanism revenues$3,896 $(2,856)$38,571 
Derivative revenues58,741 56,940 84,711 
Total alternative revenue programs and derivative revenues$62,637 $54,084 $123,282 

IDACORP's Other Operating Revenues

Other operating revenues on IDACORP's consolidated statements of income are primarily comprised of revenues from IDACORP’s subsidiary, Ida-West. Ida-West operates small PURPA-qualifying hydropower generation projects.
v3.25.4
Long-Term Debt
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Long-term Debt
The following table summarizes IDACORP's and Idaho Power's long-term debt at December 31 (in thousands of dollars):
20252024
First mortgage bonds:
1.90% Series due 2030
$80,000 $80,000 
6.00% Series due 2032
100,000 100,000 
4.99% Series due 2032
23,000 23,000 
5.50% Series due 2033
70,000 70,000 
5.50% Series due 2034
50,000 50,000 
5.875% Series due 2034
55,000 55,000 
5.20% Series due 2034
300,000 300,000 
5.30% Series due 2035
60,000 60,000 
6.30% Series due 2037
140,000 140,000 
6.25% Series due 2037
100,000 100,000 
4.85% Series due 2040
100,000 100,000 
4.30% Series due 2042
75,000 75,000 
5.06% Series due 2042
25,000 25,000 
5.06% Series due 2043
60,000 60,000 
4.00% Series due 2043
75,000 75,000 
3.65% Series due 2045
250,000 250,000 
4.05% Series due 2046
120,000 120,000 
4.20% Series due 2048
450,000 450,000 
5.20% Series due 2053
62,000 62,000 
5.50% Series due 2053
400,000 400,000 
5.80% Series due 2054
350,000 350,000 
5.70% Series due 2055
400,000 — 
Total first mortgage bonds3,345,000 2,945,000 
Pollution control revenue bonds:
1.70% Series due 2026(1)
116,300 116,300 
Total pollution control revenue bonds116,300 116,300 
American Falls Variable Rate bond guarantee due 2025— 19,885 
Unamortized premium/discount and issuance costs(13,962)(7,523)
Total IDACORP and Idaho Power outstanding debt(2)
3,447,338 3,073,662 
Current maturities of long-term debt(116,300)(19,885)
Total long-term debt$3,331,038 $3,053,777 
(1) Sweetwater County Pollution Control Revenue Bonds are secured by the first mortgage bonds, bringing the total first mortgage bonds outstanding at December 31, 2025, to $3.461 billion.
(2) At December 31, 2025 and 2024, the overall effective cost rate of Idaho Power's outstanding debt was 5.13 percent and 5.03 percent, respectively.

At December 31, 2025, the maturities for the aggregate amount of IDACORP and Idaho Power long-term debt outstanding were as follows (in thousands of dollars):
20262027202820292030Thereafter
$116,300 $— $— $— $80,000 $3,265,000 
Long-Term Debt Issuances, Maturities, and Redemptions

On March 13, 2025, Idaho Power issued $400 million in aggregate principal amount of 5.70% first mortgage bonds, secured medium-term notes, Series O, maturing on March 15, 2055.

On February 3, 2025, Idaho Power repaid $19.9 million in aggregate principal amount of maturing variable rate American Falls Bonds.

On December 2, 2024, Idaho Power repaid $49.8 million in aggregate principal amount of maturing 1.45% Humboldt County Pollution Control Revenue Bonds.

On August 12, 2024, Idaho Power issued $300 million in aggregate principal amount of 5.20% first mortgage bonds, secured medium-term notes, Series M, maturing on August 15, 2034.

Idaho Power First Mortgage Bonds

Idaho Power's issuance of long-term indebtedness is subject to the approval of the IPUC, OPUC, and WPSC. In February and March 2024, Idaho Power received orders from the IPUC, OPUC, and WPSC authorizing the company to issue and sell from time to time up to $1.2 billion in aggregate principal amount of debt securities and first mortgage bonds, subject to conditions specified in the orders. Authority from the IPUC is effective through December 31, 2026, subject to extensions upon request to the IPUC. The OPUC's and WPSC's orders do not impose a time limitation for issuances, but the OPUC order does impose a number of other conditions, including a requirement that the interest rates for the debt securities or first mortgage bonds fall within either (a) designated spreads over comparable U.S. Treasury rates or (b) a maximum interest rate limit of 8 percent. At December 31, 2025, $500 million remained available for debt issuance under the regulatory orders.

In February 2025, Idaho Power filed a shelf registration statement with the SEC, which became effective upon filing, for the offer and sale of an unspecified principal amount of its first mortgage bonds. The issuance of first mortgage bonds requires that Idaho Power meet interest coverage and security provisions set forth in Idaho Power's Indenture of Mortgage and Deed of Trust, dated as of October 1, 1937, as amended and supplemented from time to time (Indenture). Future issuances of first mortgage bonds are subject to satisfaction of covenants and security provisions set forth in the Indenture, market conditions, regulatory authorizations, and covenants contained in other financing agreements.

In February 2025, Idaho Power entered into a selling agency agreement with seven banks named in the agreement in connection with the potential issuance and sale from time to time of up to $2.1 billion aggregate principal amount of first mortgage bonds, secured medium-term notes, Series O (Series O Notes), under the Indenture. Also in February 2025, Idaho Power entered into the Fifty-third Supplemental Indenture, dated effective as of February 26, 2025, to the Indenture (Fifty-third Supplemental Indenture). The Fifty-third Supplemental Indenture provides for, among other items, the issuance of up to $2.1 billion in aggregate principal amount of Series O Notes pursuant to the Indenture and increased the limit of the amount of first mortgage bonds at any one time outstanding to $5.5 billion as provided in the Indenture. The amount issuable is also restricted by property, earnings, and other provisions of the Indenture and supplemental indentures to the Indenture. The Indenture requires that Idaho Power's net earnings be at least twice the annual interest requirements on all outstanding debt of equal or prior rank, including the bonds that Idaho Power may propose to issue. Under certain circumstances, the net earnings test does not apply, including the issuance of refunding bonds to retire outstanding bonds that mature in less than two years or that are of an equal or higher interest rate, or prior lien bonds.

The mortgage of the Indenture secures all bonds issued under the Indenture equally and ratably, without preference, priority, or distinction. First mortgage bonds issued in the future will also be secured by the mortgage of the Indenture. The lien constitutes a first mortgage on all the properties of Idaho Power, subject only to certain limited exceptions including liens for taxes and assessments that are not delinquent and minor excepted encumbrances. Certain of the properties of Idaho Power are subject to easements, leases, contracts, covenants, workmen's compensation awards, and similar encumbrances and minor defects common to properties. The mortgage of the Indenture does not create a lien on revenues or profits, or notes or accounts receivable, contracts or choses in action, except as permitted by law during a completed default, securities, or cash, except when pledged, or merchandise or equipment manufactured or acquired for resale. The mortgage of the Indenture creates a lien on the interest of Idaho Power in property subsequently acquired, other than excepted property, subject to limitations in the case of consolidation, merger, or sale of all or substantially all of the assets of Idaho Power. The Indenture requires Idaho Power to spend or appropriate 15 percent of its annual gross operating revenues for maintenance, retirement, or amortization of its properties. Idaho Power may, however, anticipate or make up these expenditures or appropriations within the 5 years that immediately follow or precede a particular year.
The Indenture limits the amount of additional first mortgage bonds that Idaho Power may issue to the sum of (a) the principal amount of retired first mortgage bonds and (b) 60 percent of total unfunded property additions, as defined in the Indenture. As of December 31, 2025, the maximum amount of additional first mortgage bonds Idaho Power could issue under this test was approximately $2.3 billion. The Indenture also imposes a fixed cap of $5.5 billion on the aggregate amount of first mortgage bonds that may be outstanding under the Indenture, which cap may be amended under certain conditions. As of December 31, 2025, Idaho Power could issue approximately $2.0 billion of additional first mortgage bonds based on that aggregate cap.
v3.25.4
COMMON STOCK:
 12 Months Ended
Dec. 31, 2025
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]  
Common Stock COMMON STOCK
 
IDACORP Common Stock

The following table summarizes IDACORP common stock transactions during the last three years and shares reserved at December 31, 2025:
 Shares issuedShares reserved
 202520242023December 31, 2025
Balance at January 153,962,30050,615,23750,561,892 
Dividend reinvestment and stock purchase plan49,56963,084—2,729,049
Employee savings plan———3,567,954
At-the-market offering program(1)
801,914——
See table note (1)
Equity forward sale agreements—3,221,982—5,180,180
Long-term incentive and compensation plan(2)
45,34861,99753,3452,154,164
Continuous equity program (inactive)———3,000,000
Balance at December 3154,859,13153,962,30050,615,237 
(1) During 2024, IDACORP reserved shares of its common stock through the ATM offering program, up to an aggregate gross sales price of $300 million. At December 31, 2025, $155.5 million in shares of IDACORP’s common stock remained reserved. For more details, see "At-the-Market Offering Program" below in this Note 6.
(2) During 2025, 2024, and 2023, IDACORP granted 82,344, 103,771, and 75,295 restricted stock unit awards, respectively, to employees and 11,268, 15,616, and 12,459 shares of common stock, respectively, to directors. During 2025, 2024, and 2023, IDACORP issued 45,348, 61,997, and 53,345 shares of common stock, respectively, using original issuances of shares pursuant to the LTICP, including 9,273, 10,571, and 13,842 shares of common stock, respectively, issued to members of the board of directors.

Dividend Reinvestment and Stock Purchase Plan: Effective January 1, 2024, IDACORP instructed the plan administrator of the IDACORP, Inc. Dividend Reinvestment and Stock Purchase Plan to use original issuance of common stock from IDACORP, as opposed to market purchases of IDACORP common stock, to acquire shares of IDACORP common stock for the plan. However, IDACORP may determine at any time to resume market purchases of common stock under the plan.

Employee Savings Plan: As directed by IDACORP, the plan administrator of the Idaho Power Company Employee Savings Plan used market purchases of IDACORP common stock to acquire shares of IDACORP common stock for the plan.

At-the-Market Offering Program: On May 20, 2024, IDACORP entered into an Equity Distribution Agreement (EDA) pursuant to which it may issue, offer, and sell, from time to time, up to an aggregate gross sales price of $300 million of shares of its common stock through an ATM offering program, which includes the ability to enter into FSAs. At December 31, 2025, $155.5 million in shares of IDACORP’s common stock remained available for issuance through its ATM offering program.

IDACORP executed FSAs under its ATM offering program with various counterparties who borrowed and sold 452,256 shares in 2025 and 801,914 shares in 2024 of IDACORP’s common stock at an aggregate gross sales price of $52.2 million in 2025 and $92.4 million in 2024. This included approximately $0.7 million in 2025 and $1.2 million in 2024 in commissions and fees payable by IDACORP to the counterparties upon settlement.

At December 31, 2025, IDACORP had the following FSAs outstanding under its ATM offering program (in thousands of dollars, except for shares and forward price amounts):
Maturity DateSharesNet Proceeds AvailableForward Price
March 31, 2026198,086$22,789$115.05
March 31, 2026254,17028,970113.98
Total / Weighted Average Forward Price452,256$51,759$114.45

The FSAs will be physically settled with common shares issued by IDACORP, unless IDACORP elects to settle the agreements in net cash or net shares, subject to certain conditions. On a settlement date or dates, if IDACORP elects to physically settle the FSAs, IDACORP will issue shares of common stock to the various counterparties at the then-applicable forward sale price and receive issuance proceeds at that time.

At December 31, 2025, IDACORP could have settled all its outstanding FSAs under the ATM offering program with physical delivery of 452,256 shares of common stock to the counterparties in exchange for cash of $51.8 million. At December 31, 2025, IDACORP could have settled the FSAs with net delivery to various counterparties of approximately $7.2 million of cash or approximately 54,968 shares of common stock, if IDACORP had elected to net cash or net share settle, respectively. The FSAs have been classified as an equity transaction because they are indexed to IDACORP’s common stock and the other requirements necessary for equity classification are met. As a result of the equity classification, no gain or loss will be recognized within earnings due to subsequent changes in the fair value of the FSAs.

During 2025, IDACORP settled the following FSAs under its ATM offering program (in thousands of dollars, except for settlement shares and forward settlement price amounts):
Settlement DateSettlement Shares
Net Cash Proceeds(1)
Forward Settlement Price
November 12, 2025500,000$56,924$113.85
December 19, 2025301,91434,793115.24
Total / Weighted Average Forward Settlement Price801,914$91,717$114.37
(1) Settlement of the FSAs are reflected in IDACORP’s equity.

Equity Forward Sale Agreements (2025 Series): On May 8, 2025, IDACORP announced a registered public offering of 4,504,505 shares of its common stock at a public offering price of $111.00 per share, for an aggregate amount of $500.0 million. In conjunction with this offering, underwriters exercised an option to purchase 675,675 additional shares for an additional aggregate amount of $75.0 million. The 5,180,180 shares were sold by IDACORP to the underwriters under FSAs, which provide for settlement on a settlement date or dates to be specified at IDACORP’s discretion, but which is expected to occur on or prior to November 9, 2026. The forward sale price was initially $107.67 per share and is subject to certain adjustments in accordance with the terms of the FSAs through the date or dates of settlement.

The FSAs will be physically settled with common shares issued by IDACORP, unless IDACORP elects to settle the agreements in net cash or net shares, subject to certain conditions. On a settlement date or dates, if IDACORP elects to physically settle the FSAs, IDACORP will issue shares of common stock to the various counterparties at the then-applicable forward sale price and receive issuance proceeds at that time.

At December 31, 2025, IDACORP could have settled the FSAs with physical delivery of 5,180,180 shares of common stock to the counterparties in exchange for cash of $560.9 million. The FSAs could have also been settled at December 31, 2025, with delivery of approximately $113.8 million of cash or approximately 874,426 shares of common stock to the counterparties, if IDACORP had elected to net cash or net share settle, respectively. The FSAs have been classified as an equity transaction because they are indexed to IDACORP’s common stock and the other requirements necessary for equity classification are met. As a result of the equity classification, no gain or loss will be recognized within earnings due to subsequent changes in the fair value of the FSAs.

Equity Forward Sale Agreements (2023 Series): On November 7, 2023, IDACORP announced a registered public offering of 2,801,724 shares of its common stock at a public offering price of $92.80 per share, for an issuance amount of $260.0 million. In conjunction with this offering, IDACORP granted the underwriters an option to purchase up to 420,258 additional shares, which was subsequently exercised in full on November 8, 2023, for an additional issuance amount of $39.0 million. The
3,221,982 shares were sold by the counterparty to the underwriters under FSAs. The forward sale price was initially $90.016 per share and was subject to certain adjustments in accordance with the terms of the FSAs through the date of settlement.

On May 14, 2024, IDACORP partially settled the FSAs with physical delivery of 2,542,442 shares of common stock to the counterparty in exchange for cash of $230.0 million. On November 4, 2024, IDACORP settled the remainder of the FSAs with physical delivery of 679,540 shares of common stock to the counterparty in exchange for cash of $62.2 million. Settlement of the FSAs are reflected in IDACORP’s equity.

FSA Earnings Per Shares Dilution: Prior to settlement, the potentially issuable shares pursuant to the FSAs will be reflected in IDACORP’s diluted earnings per share calculations using the treasury stock method. Under this method, the number of shares of IDACORP’s common stock used in calculating diluted earnings per share for a reporting period would be increased by the number of shares, if any, that would be issued upon physical settlement of the FSAs less the number of shares that could be purchased by IDACORP in the market with the proceeds received from issuance (based on the average market price during that reporting period). Share dilution occurs when the average market price of IDACORP’s stock during the reporting period is higher than the then-applicable forward sale price as of the end of the reporting period. As of December 31, 2025, 2024, and 2023, approximately 490,000, 47,000, and 34,000 incremental shares, respectively, were included in the calculation of diluted earnings per share related to the securities under the FSAs. See Note 8 - "Earnings Per Share" for additional information concerning IDACORP's diluted earnings per share.

Idaho Power Common Stock

During 2025 and 2024, IDACORP contributed $195 million and $200 million, respectively, of additional capital to Idaho Power. During 2025 and 2024, no additional shares of Idaho Power common stock were issued.

Restrictions on Dividends

Idaho Power’s ability to pay dividends on its common stock held by IDACORP and IDACORP’s ability to pay dividends on its common stock are limited to the extent payment of such dividends would violate the covenants in their respective credit facilities or Idaho Power’s Statement of Policy and Code of Conduct. A covenant under IDACORP’s credit facility and Idaho Power’s credit facility requires IDACORP and Idaho Power to maintain leverage ratios of consolidated indebtedness to consolidated total capitalization, as defined therein, of no more than 65 percent at the end of each fiscal quarter. At December 31, 2025, the leverage ratios for IDACORP and Idaho Power were 52 percent. Based on these restrictions, IDACORP’s and Idaho Power’s dividends were limited to $1.5 billion and $1.3 billion, respectively, at December 31, 2025. There are additional facility covenants, subject to exceptions, that prohibit or restrict the sale or disposition of property without consent and any agreements restricting dividend payments to IDACORP and Idaho Power from any material subsidiary. At December 31, 2025, IDACORP and Idaho Power were in compliance with those covenants.

Idaho Power’s Statement of Policy and Code of Conduct relating to transactions between and among Idaho Power, IDACORP, and other affiliates, which was approved by the IPUC in April 2008, provides that Idaho Power will not pay any dividends to IDACORP that will reduce Idaho Power’s common equity capital below 35 percent of its total adjusted capital without IPUC approval. At December 31, 2025, Idaho Power's common equity capital was 48 percent of its total adjusted capital. Further, Idaho Power must obtain approval from the OPUC before it can directly or indirectly loan funds or issue notes or give credit on its books to IDACORP.

Idaho Power’s articles of incorporation contain restrictions on the payment of dividends on its common stock if preferred stock dividends are in arrears. As of the date of this report, Idaho Power has no preferred stock outstanding.
In addition to contractual restrictions on the amount and payment of dividends, the FPA prohibits the payment of dividends from "capital accounts." The term "capital account" is undefined in the FPA or its regulations, but Idaho Power does not believe the restriction would limit Idaho Power's ability to pay dividends out of current year earnings or retained earnings.
v3.25.4
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION:
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-based compensation SHARE-BASED COMPENSATION
 
IDACORP has one share-based compensation plan — the LTICP. The LTICP (for officers, key employees, and directors) permits the grant of stock options, restricted stock and restricted stock units, performance shares and performance-based units, and several other types of share-based awards. At December 31, 2025, the maximum number of shares available under the LTICP was 1,119,104.
 
Restricted Stock Unit and Performance-Based Unit Awards

Restricted stock unit awards have three-year vesting periods, entitle the recipients to dividend equivalents, and units do not have voting rights until the units are vested and settled in shares. Unvested awards are restricted as to disposition and subject to forfeiture under certain circumstances. The fair value of these awards is based on the closing market price of common stock on the grant date and is charged to compensation expense over the vesting period, reduced for any forfeitures during the vesting period.
 
Performance-based unit awards have three-year vesting periods and do not have voting rights until the units are vested and settled in shares. Unvested awards are restricted as to disposition, subject to forfeiture under certain circumstances, and subject to the attainment of specific performance conditions over the three-year vesting period. The performance conditions are two equally-weighted metrics, cumulative earnings per share (CEPS) and total shareholder return (TSR) relative to a peer group. Depending on the level of attainment of the performance conditions and the year issued, the final number of shares awarded can range from zero to 200 percent of the target award. Dividend equivalents are accrued during the vesting period and paid out based on the final number of shares awarded.
 
The grant-date fair value of the CEPS portion is based on the closing market value at the date of grant, reduced by the loss in time-value of the estimated future dividend payments. The fair value of this portion of the awards is charged to compensation expense over the requisite service period based on the estimated achievement of performance targets, reduced for any forfeitures during the vesting period. The grant-date fair value of the TSR portion is estimated using the market value at the date of grant and a statistical model that incorporates the probability of meeting performance targets based on historical returns relative to the peer group. The fair value of this portion of the awards is charged to compensation expense over the requisite service period, provided the requisite service period is rendered, regardless of the level of TSR metric attained.

A summary of restricted stock units and performance-based units award activity is presented below. Idaho Power unit amounts represent the portion of IDACORP amounts related to Idaho Power employees:
 IDACORPIdaho Power
Number of
Units		Weighted-Average
Grant Date
Fair Value		Number of
Units		Weighted-Average
Grant Date
Fair Value
Nonvested units at January 1, 2025234,809 $94.73 233,577 $94.73 
Units granted82,344 107.76 81,973 107.76 
Units forfeited(3,504)94.87 (2,962)94.28 
Units vested(65,727)102.52 (65,116)102.53 
Nonvested units at December 31, 2025247,922 $96.99 247,472 $97.00 
 
The total fair value of shares vested was $7.4 million in 2025, $8.5 million in 2024, and $7.5 million in 2023. At December 31, 2025, IDACORP had $11.5 million of total unrecognized compensation cost related to nonvested share-based compensation, all of which was Idaho Power's share. These costs are expected to be recognized over a weighted-average period of 1.7 years. IDACORP uses original issue shares for these awards.
 
In 2025, a total of 11,268 shares were awarded to directors at an average grant date fair value of $117.98 per share. Directors elected to defer receipt of 5,532 of these shares, which are being held as deferred stock units with dividend equivalents reinvested in additional stock units.

Compensation Expense: The following table shows the compensation cost recognized in income and the tax benefits resulting from the LTICP, as well as the amounts allocated to Idaho Power for those costs associated with Idaho Power’s employees (in thousands of dollars): 
 IDACORPIdaho Power
 202520242023202520242023
Compensation cost$12,505 $11,708 $9,578 $12,419 $11,608 $9,508 
Income tax benefit3,130 3,014 2,465 3,108 2,988 2,447 
No equity compensation costs have been capitalized. These costs are primarily reported within "Other operations and maintenance" expense on the consolidated statements of income.
v3.25.4
EARNINGS PER SHARE:
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
 
The following table presents the computation of IDACORP’s basic and diluted earnings per share for the years ended December 31 (in thousands of dollars and shares, except for per share amounts):
 202520242023
Numerator:   
Net income attributable to IDACORP, Inc.$323,472 $289,174 $261,195 
Denominator:  
Weighted-average common shares outstanding - basic54,235 52,543 50,717 
Effect of dilutive securities(1)
571 72 89 
Weighted-average common shares outstanding - diluted54,806 52,615 50,806 
Basic earnings per share$5.96 $5.50 $5.15 
Diluted earnings per share$5.90 $5.50 $5.14 
(1) Includes the effect of dilutive securities related to FSAs. See Note 6 - "Common Stock" for additional information concerning IDACORP's FSAs.
v3.25.4
COMMITMENTS:
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments COMMITMENTS
 
Purchase Obligations

At December 31, 2025, Idaho Power had the following long-term commitments relating to purchases of energy, capacity, transmission rights, and fuel (in thousands of dollars):
 20262027202820292030Thereafter
Cogeneration, power production, battery storage, and transmission rights$350,046 $383,878 $427,829 $428,270 $425,584 $3,710,029 
Fuel191,035 159,806 96,773 45,314 46,063 498,929 

As of December 31, 2025, Idaho Power had power purchase obligations with respect to 1,724 MW nameplate capacity of online PURPA and non-PURPA projects, with an additional 625 MW nameplate capacity of projects that are scheduled to be online in 2026 and 2027. The agreements for these projects have original contract terms ranging from one to 35 years. Idaho Power's purchased power expense associated with long-term agreements (including PURPA) was approximately $306 million in 2025, $294 million in 2024, and $258 million in 2023.

Subsequent to December 31, 2025, through the date of this report, Idaho Power entered into an energy and capacity market purchase agreement with an energy marketer that provides Idaho Power the right to acquire 100 MW on a daily basis during the winter months, subject to regulatory approval, which increased Idaho Power's contractual obligations by approximately $14.4 million over an approximate 3-year term commencing in November 2028.

Idaho Power also has the following long-term commitments (in thousands of dollars):
 20262027202820292030Thereafter
Joint-operating agreement payments(1)
$2,983 $2,983 $2,983 $2,983 $2,983 $14,914 
Easements and other payments(1)
2,322 2,371 2,421 2,472 2,523 13,435 
Maintenance, service, and materials agreements(1)(2)
479,388 110,347 312,155 36,558 8,327 41,237 
FERC and other industry-related fees(1)
17,898 17,106 16,962 16,908 17,391 85,255 
(1) Approximately $30 million, $1 million, $16 million, and $170 million of the commitments included in joint-operating agreement payments, easements and other payments, maintenance, service, and materials agreements, and FERC and other industry-related fees, respectively, have contracts that do not specify terms related to expiration. As these contracts are presumed to continue indefinitely, ten years of information, estimated based on current contract terms, has been included in the table for presentation purposes.
(2) As of December 31, 2025, Idaho Power had a remaining $481 million commitment related to contracts to acquire and own transmission and generation resources with in-service dates in 2028 and 2030.
At IDACORP, long-term purchase commitments of $21.4 million are mostly comprised of other long-term liabilities at Ida-West and IFS. At December 31, 2025, IDACORP had a commitment to invest an additional $2.8 million into a private market investment fund, which is expected to occur over the next few years.

Guarantees
 
Idaho Power guarantees its portion of reclamation activities and obligations at BCC, of which IERCo owns a one-third interest. This guarantee, which is renewed annually with the Wyoming Department of Environmental Quality (WDEQ), was $50.1 million at December 31, 2025, representing IERCo's one-third share of BCC's total reclamation obligation of $150.2 million. BCC has a reclamation trust fund set aside specifically for the purpose of paying these reclamation costs. At December 31, 2025, the value of BCC's reclamation trust fund exceeded WDEQ's guarantee requirement for the total reclamation obligation. BCC periodically assesses the adequacy of the reclamation trust fund and its estimate of future reclamation costs. To ensure that the reclamation trust fund maintains adequate reserves, BCC has the ability to, and does, add a per-ton surcharge to coal sales to the Jim Bridger plant. Because of the existence of the fund and the ability to apply a per-ton surcharge, the estimated fair value of this guarantee is minimal.
 
IDACORP and Idaho Power enter into financial agreements and power purchase and sale agreements that include indemnification provisions relating to various forms of claims or liabilities that may arise from the transactions contemplated by these agreements. Generally, a maximum obligation is not explicitly stated in the indemnification provisions and, therefore, the overall maximum amount of the obligation under such indemnification provisions cannot be reasonably estimated. IDACORP and Idaho Power periodically evaluate the likelihood of incurring costs under such indemnities based on their historical experience and the evaluation of the specific indemnities. As of December 31, 2025, management believes the likelihood is remote that IDACORP or Idaho Power would be required to perform under such indemnification provisions or otherwise incur any significant losses with respect to such indemnification obligations. Neither IDACORP nor Idaho Power has recorded any liability on their respective consolidated balance sheets with respect to these indemnification obligations.
v3.25.4
LEASES:
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lessee, Finance Leases LEASES
Recognition of Lease Assets and Liabilities

A lease exists when an arrangement allows the lessee to control the use of an identified asset for a stated period in exchange for payments. Idaho Power determines if an arrangement is a lease and its classification at the lease commencement date. All leases must be recognized as a lease right-of-use (ROU) asset and a lease liability on the balance sheet of the lessee. The ROU asset represents the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments. Idaho Power has elected the practical expedient to not separate non-lease components from lease components and instead account for both as a single lease component.

Lease ROU assets and lease liabilities are estimated and recognized at the lease commencement date based on the net present value of fixed lease payments over the lease term. Variable lease payments are expensed as incurred. If the lease does not provide an implicit rate, Idaho Power uses its collateralized incremental borrowing rate based on the information available at the commencement date to determine the present value of fixed lease payments. The implicit rate is used when it is readily determinable. Idaho Power recovers 100 percent of the Idaho-jurisdiction portion of lease payments on all existing arrangements classified as finance leases through the PCA, and recovers the Oregon-jurisdiction portion of lease payments through the APCU. Idaho Power recognizes lease expenses consistent with regulatory cost recovery, so lease expenses in excess of amounts recovered through the PCA and APCU are deferred as a regulatory asset.

IDACORP does not record leases with a term of 12 months or less in the consolidated balance sheets. Total short-term lease expense was not material for the years ended 2025, 2024, and 2023.

Finance Leases

Finance leases are included in finance lease ROU assets, other current liabilities, and finance lease liabilities recognized on the consolidated balance sheets upon the lease commencement date. Amortization of the lease ROU asset is included in depreciation and amortization, and the interest expense associated with the finance lease liabilities is included in interest on long-term debt and finance leases on the consolidated statements of income. Variable lease payments are not recognized on the consolidated balance sheets and are recorded as incurred in other O&M expense on the consolidated statements of income and
in operating activities in the consolidated statements of cash flows. Idaho Power’s finance lease ROU assets and liabilities relate to the lease discussed below.

Kuna BESS: On April 26, 2023, Idaho Power executed an Energy Storage Agreement with Kuna BESS LLC to utilize the storage capacity of a 150 MW battery storage facility over a 20-year term. The term began May 19, 2025, and has been classified as a finance lease.

The following table provides a summary of the components of total lease cost included in the consolidated statements of income for the year ended December 31 (in thousands of dollars):
2025
Finance lease cost:
Amortization of ROU asset (Depreciation and amortization)$3,762 
Interest on lease liabilities (Interest on long-term debt and finance leases)(1)
8,586 
Total finance lease cost12,348 
Variable lease cost (Other O&M)973 
Total lease cost$13,321 
(1) Included in operating activities in the consolidated statements of cash flows as cash paid for amounts included in the measurement of lease liabilities.

The following table presents the classification of certain lease amounts included in the consolidated balance sheets as of December 31 (in thousands of dollars):
2025
Finance leases:
Other current liabilities$6,161 

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of December 31:
2025
Finance leases:
Weighted average remaining lease term19.38 years
Weighted average discount rate6.17 %







The following table presents the maturities of future fixed lease payments and a reconciliation of undiscounted cash flows to lease liabilities recognized on the consolidated balance sheets as of December 31, 2025 (in thousands of dollars):
Finance Leases
2026$19,751 
202719,751 
202819,751 
202919,751 
203019,751 
Thereafter283,907 
Total future fixed lease payments382,662 
Less: amounts representing interest(159,806)
Total present value of lease liabilities222,856
v3.25.4
CONTINGENCIES:
 12 Months Ended
Dec. 31, 2025
Loss Contingency [Abstract]  
Contingencies CONTINGENCIES
 
IDACORP and Idaho Power have in the past and expect in the future to become involved in various claims, controversies, disputes, and other contingent matters, some of which involve litigation and regulatory or other contested proceedings. The ultimate resolution and outcome of litigation and regulatory proceedings is inherently difficult to determine, particularly where (a) the remedies or penalties sought are indeterminate, (b) the proceedings are in the early stages or the substantive issues have not been well developed, or (c) the matters involve complex or novel legal theories or a large number of parties. In accordance with applicable accounting guidance, IDACORP and Idaho Power, as applicable, establish an accrual for legal proceedings when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. If the loss contingency at issue is not both probable and reasonably estimable, IDACORP and Idaho Power do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. As of the date of this report, IDACORP's and Idaho Power's accruals for loss contingencies are not material to their financial statements as a whole; however, future accruals could be material in a given period. IDACORP's and Idaho Power's determination is based on currently available information, and estimates presented in financial statements and other financial disclosures involve significant judgment and may be subject to significant uncertainty. For matters that affect Idaho Power's operations, Idaho Power intends to seek, to the extent permissible and appropriate, recovery through the ratemaking process of costs incurred, although there is no assurance that such recovery would be granted.

IDACORP and Idaho Power are parties to legal claims and legal, tax, and regulatory actions and proceedings in the ordinary course of business and, as noted above, record an accrual for associated loss contingencies when they are probable and reasonably estimable. In connection with its utility operations, Idaho Power is subject to claims by individuals, entities, and governmental agencies for damages for alleged personal injury, property damage, and economic losses, relating to the company’s provision of electric service and the operation of its power supply, transmission, and distribution facilities. Some of those claims relate to electrical contacts, service quality, property damage, and wildfires. In recent years, utilities in the western United States have been subject to significant liability for personal injury, loss of life, property damage, trespass, and economic losses, and in some cases, punitive damages and criminal charges, associated with wildfires that originated from utility property, most commonly transmission and distribution lines. Idaho Power has also regularly received claims by governmental agencies and private landowners for damages for fires allegedly originating from Idaho Power’s transmission and distribution system. As of the date of this report, the companies believe that resolution of existing claims will not have a material adverse effect on their respective consolidated financial statements.

Idaho Power is also actively monitoring various pending environmental regulations and executive orders related to environmental matters that may have a significant impact on its future operations. Given uncertainties regarding the outcome, timing, and compliance plans for these environmental matters, Idaho Power is unable to estimate the financial impact of these regulations.
v3.25.4
BENEFIT PLANS:
 12 Months Ended
Dec. 31, 2025
Retirement Benefits, Description [Abstract]  
Benefit Plans BENEFIT PLANS
 
Idaho Power sponsors defined benefit and other postretirement benefit plans that cover the majority of its employees. Idaho Power also sponsors a defined contribution 401(k) employee savings plan and provides certain post-employment benefits.
Pension Plans

Idaho Power has a noncontributory defined benefit pension plan (pension plan) and two nonqualified defined benefit plans for certain senior management employees, the SMSP. Idaho Power also has a nonqualified defined benefit pension plan for directors that was frozen in 2002. Remaining vested benefits from that plan are included with the SMSP in the disclosures below. The benefits under these plans are based on years of service and the employee's final average earnings.
 
The following table summarizes the changes in benefit obligations and plan assets of these plans (in thousands of dollars): 
 Pension PlanSMSP
 2025202420252024
 
Change in projected benefit obligation:    
Benefit obligation at January 1$998,166 $1,028,016 $102,318 $105,809 
Service cost31,774 33,992 1,172 1,051 
Interest cost56,151 52,181 5,640 5,332 
Actuarial loss (gain)5,237 (65,972)2,401 (3,321)
Plan amendment— — 7 15 
Benefits paid(52,309)(50,051)(6,900)(6,568)
Projected benefit obligation at December 311,039,019 998,166 104,638 102,318 
Change in plan assets:  
Fair value at January 1951,142 917,513 — — 
Actual return on plan assets104,542 63,680 — — 
Employer contributions20,000 20,000 — — 
Benefits paid(52,309)(50,051)— — 
Fair value at December 311,023,375 951,142 — — 
Funded status at end of year$(15,644)$(47,024)$(104,638)$(102,318)
Amounts recognized in the balance sheet consist of:    
Other current liabilities$— $— $(6,855)$(6,827)
Noncurrent liabilities(15,644)(47,024)(97,783)(95,491)
Net amount recognized
$(15,644)$(47,024)$(104,638)$(102,318)
Amounts recognized in AOCI consist of:    
Net loss$13,142 $43,516 $18,154 $16,442 
Prior service cost18 24 1,780 1,995 
Subtotal13,160 43,540 19,934 18,437 
Less amount recorded as regulatory asset(1)
(13,160)(43,540)— — 
Net amount recognized in AOCI$— $— $19,934 $18,437 
Accumulated benefit obligation$895,190 $863,705 $99,105 $96,487 
(1) Changes in the funded status of the pension plan that would be recorded in AOCI for an unregulated entity are recorded as a regulatory asset for Idaho Power as Idaho Power believes it is probable that an amount equal to the regulatory asset will be collected through the setting of future rates.
 
The actuarial losses reflected in the benefit obligations for the pension and SMSP plans in 2025 are due primarily to actual demographic experience varying from assumed for both plans, and a decrease in the assumed discount rate of the SMSP plan and partially offset by an increase in the assumed discount rates of the pension plan from December 31, 2024 to December 31, 2025. The actuarial gains reflected in the benefit obligations for the pension and SMSP plans in 2024 are due primarily to increases in the assumed discount rates of both plans from December 31, 2023 to December 31, 2024. For more information on discount rates, see “Plan Assumptions” below in this Note 12.

As a non-qualified plan, the SMSP has no plan assets. However, Idaho Power has a rabbi trust designated to provide funding for SMSP obligations. The rabbi trust holds investments in marketable securities and corporate-owned life insurance. The recorded
value of these investments was approximately $172.1 million and $159.1 million at December 31, 2025 and 2024, respectively, and is reflected in Investments and in Company-owned life insurance on the consolidated balance sheets.

The following table shows the components of net periodic pension cost for these plans (in thousands of dollars). For purposes of calculating the expected return on plan assets, the market-related value of assets is equal to the fair value of the assets.
 Pension PlanSMSP
 202520242023202520242023
Service cost$31,774 $33,992 $29,843 $1,172 $1,051 $612 
Interest cost56,151 52,181 51,277 5,640 5,332 5,322 
Expected return on assets(68,931)(66,533)(61,728)— — — 
Amortization of net loss— 1,700 — 690 1,312 570 
Amortization of prior service cost6 6 6 221 220 219 
Net periodic pension cost19,000 21,346 19,398 7,723 7,915 6,723 
Regulatory deferral of net periodic pension cost(1)
(18,159)(20,425)(18,553)— — — 
Previously deferred pension cost recognized(1)
35,182 35,182 17,154 — — — 
Net periodic pension cost recognized for financial reporting(1)(2)
$36,023 $36,103 $17,999 $7,723 $7,915 $6,723 
(1) Net periodic pension costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under an IPUC order, the Idaho portion of net periodic pension cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
(2)  Of total net periodic pension cost recognized for financial reporting $37.8 million, $35.9 million, and $18.2 million respectively, was recognized in "Other operations and maintenance" and $6.0 million, $8.1 million, and $6.5 million respectively, was recognized in "Other income, net" on the consolidated statements of income of the companies for the twelve months ended December 31, 2025, 2024, and 2023.

The following table shows the components of other comprehensive income (loss) for the plans (in thousands of dollars):
 Pension PlanSMSP
 202520242023202520242023
Actuarial gain (loss) during the year$30,374 $63,119 $(25,071)$(2,401)$3,320 $(6,517)
Plan amendment service cost— — — (7)(15)(11)
Reclassification adjustments for:
Amortization of net loss— 1,700 — 690 1,312 570 
Amortization of prior service cost6 6 6 221 220 219 
Adjustment for deferred tax effects(7,604)(16,686)6,452 145 (1,245)1,477 
Adjustment due to the effects of regulation
(22,776)(48,139)18,613 — — — 
Other comprehensive income (loss) recognized related to pension benefit plans$— $— $— $(1,352)$3,592 $(4,262)

The following table summarizes the expected future benefit payments of these plans (in thousands of dollars):
 202620272028202920302031-2035
Pension Plan$53,000 $54,713 $56,371 $58,110 $59,898 $331,936 
SMSP6,855 6,883 7,079 7,360 7,438 37,939 
 
Idaho Power’s funding policy for the pension plan is to contribute at least the minimum required under the Employee Retirement Income Security Act of 1974 (ERISA) but not more than the maximum amount deductible for income tax purposes. In 2025, 2024, and 2023, Idaho Power elected to contribute more than the minimum required amounts in order to bring the pension plan to a more funded position, to reduce future required contributions, and to reduce Pension Benefit Guaranty Corporation premiums. As of the date of this report, IDACORP and Idaho Power have no estimated minimum required contributions to the pension plan for 2026. Depending on market conditions and cash flow considerations in 2025, Idaho Power expects that it may contribute up to $30 million to the pension plan during 2026 in order to help balance the regulatory collection of these expenditures with the amount and timing of contributions and to mitigate the cost of being in an underfunded position.
Postretirement Benefits

Idaho Power maintains a defined benefit postretirement benefit plan (consisting of health care and death benefits) that covers all employees who were enrolled in the active-employee group plan at the time of retirement as well as their spouses and qualifying dependents. Retirees hired on or after January 1, 1999, have access to the standard medical option at full cost, with no contribution by Idaho Power. Benefits for employees who retire after December 31, 2002, are limited to a fixed amount, which has limited the growth of Idaho Power’s future obligations under this plan.
 
The following table summarizes the changes in benefit obligation and plan assets (in thousands of dollars):
 20252024
Change in accumulated benefit obligation:  
Benefit obligation at January 1$54,604 $56,064 
Service cost672 698 
Interest cost2,973 2,824 
Actuarial loss (gain)1,976 (778)
Benefits paid(1)
(4,714)(4,204)
Benefit obligation at December 3155,511 54,604 
Change in plan assets:  
Fair value of plan assets at January 131,128 31,804 
Actual return on plan assets4,381 4,669 
Employer contributions(1)
736 (1,141)
Benefits paid(1)
(4,714)(4,204)
Fair value of plan assets at December 3131,531 31,128 
Funded status at end of year (included in noncurrent liabilities)$(23,980)$(23,476)
(1) Contributions and benefits paid are each net of $2.3 million and $2.3 million of plan participant contributions for 2025 and 2024, respectively.

Amounts recognized in AOCI consist of the following (in thousands of dollars):
 20252024
Net gain$(28,207)$(29,353)
Prior service cost3,262 4,636 
Subtotal(24,945)(24,717)
Less amount recognized in regulatory assets24,945 24,717 
Net amount recognized in AOCI$— $— 

The net periodic postretirement benefit cost was as follows (in thousands of dollars):

 202520242023
Service cost$672 $698 $658 
Interest cost2,973 2,824 2,980 
Expected return on plan assets(1,786)(1,831)(1,650)
Amortization of net loss(1,765)(1,494)(1,237)
Amortization of prior service cost1,374 1,548 1,665 
Net periodic postretirement benefit cost$1,468 $1,745 $2,416 
The following table shows the components of other comprehensive income for the plan (in thousands of dollars):
 202520242023
Actuarial gain during the year$619 $3,616 $7,572 
Reclassification adjustments for:
Amortization of net loss(1,765)(1,494)(1,237)
Amortization of prior service cost1,375 1,548 1,665 
Adjustment for deferred tax effects(57)(945)(2,059)
Adjustment due to the effects of regulation
(172)(2,725)(5,941)
Other comprehensive income related to postretirement benefit plans
$— $— $— 

The following table summarizes the expected future benefit payments of the postretirement benefit plan (in thousands of dollars):
 202620272028202920302031-2035
Expected benefit payments$4,855 $4,715 $4,620 $4,580 $4,511 $21,157 
 
Plan Assumptions
 
The following table sets forth the weighted-average assumptions used at the end of each year to determine benefit obligations for all Idaho Power-sponsored pension and postretirement benefits plans:
Pension PlanSMSPPostretirement
Benefits
 202520242025202420252024
Discount rate5.75 %5.70 %5.65 %5.70 %5.60 %5.70 %
Rate of compensation increase(1)
4.42 %4.43 %4.75 %4.75 %— — 
Medical trend rate— — — — 7.0 %6.3 %
Dental trend rate— — — — 4.0 %3.5 %
Measurement date12/31/202512/31/202412/31/202512/31/202412/31/202512/31/2024
(1) The 2025 rate of compensation increase assumption for the pension plan includes an inflation component of 2.40% plus a 2.02% composite merit increase component that is based on employees' years of service. Merit salary increases are assumed to be 10.6% for employees in their first year of service and scale down to 3.4% for employees in their fortieth year of service and beyond.

The following table sets forth the weighted-average assumptions used to determine net periodic benefit cost for all Idaho Power-sponsored pension and postretirement benefit plans: 
Pension PlanSMSPPostretirement
Benefits
 202520242023202520242023202520242023
Discount rate5.70 %5.10 %5.45 %5.70 %5.20 %5.50 %5.70 %5.15 %5.45 %
Expected long-term rate of return on assets
7.40 %7.40 %7.40 %— — — 6.00 %6.00 %6.00 %
Rate of compensation increase4.42 %4.43 %4.49 %4.75 %4.75 %4.75 %— — %— %
Medical trend rate— — — — — — 6.2 %7.1 %6.7 %
Dental trend rate— — — — — — 4.0 %3.5 %3.5 %
  
The assumed health care cost trend rate used to measure the expected cost of health benefits covered by the postretirement plan was 6.2 percent in 2025 and is assumed to increase to 7.0 percent in 2026, decrease to 6.2 percent in 2027, decrease to 5.5 percent in 2028, and to gradually decrease to 3.8 percent by 2074. For 2025 and beyond, the assumed dental cost trend rate used to measure the expected cost of dental benefits covered by the plan was 4.0 percent, or equal to the medical trend rate if lower.
Plan Assets

Pension Asset Allocation Policy: The target allocation and actual allocations at December 31, 2025, for the pension asset portfolio by asset class is set forth below:
Asset ClassTarget
Allocation		Actual
Allocation
December 31, 2025
Debt securities25 %25 %
Equity securities56 %59 %
Real estate8 %8 %
Other plan assets11 %8 %
Total100 %100 %
 
Assets are rebalanced as necessary to keep the portfolio close to target allocations. The plan’s principal investment objective is to maximize total return (defined as the sum of realized interest and dividend income and realized and unrealized gain or loss in market price) consistent with prudent parameters of risk and the liability profile of the portfolio. Emphasis is placed on preservation and growth of capital along with adequacy of cash flow sufficient to fund current and future payments to plan participants.
 
The three major goals in Idaho Power’s asset allocation process are to:

•determine if the investments have the potential to earn the rate of return assumed in the actuarial liability calculations;
•match the cash flow needs of the plan. Idaho Power sets debt security allocations sufficient to cover approximately five years of benefit payments. Idaho Power then utilizes growth instruments (equities, real estate, venture capital) to fund the longer-term liabilities of the plan; and
•maintain a prudent risk profile consistent with ERISA fiduciary standards.
 
Allowable plan investments include stocks and stock funds, investment-grade bonds and bond funds, private real estate funds, private infrastructure funds, private direct lending funds, private equity funds, and cash and cash equivalents. With the exception of private real estate holdings, private infrastructure holdings, private direct lending loans, and private equity, investments must be readily marketable so that an entire holding can be disposed of quickly with only a minor effect upon market price.

Rate-of-return projections for plan assets are based on historical risk/return relationships among asset classes. The primary measure is the historical risk premium each asset class has delivered versus the yield on the Moody's AA Corporate Bond Index. This historical risk premium is then added to the current yield on the Moody's AA Corporate Bond Index. Additional analysis is performed to measure the expected range of returns, as well as worst-case and best-case scenarios. Based on the current interest rate environment, current rate-of-return expectations are lower than the nominal returns generated over the past 30 years when interest rates were generally higher.

Idaho Power’s asset modeling process also utilizes historical market returns to measure the portfolio’s exposure to a “worst-case” market scenario, to determine how much performance could vary from the expected “average” performance over various time periods. This “worst-case” modeling, in addition to cash flow matching and diversification by asset class and investment style, provides the basis for managing the risk associated with investing portfolio assets.
Fair Value of Plan Assets: Idaho Power classifies its pension plan and postretirement benefit plan investments using the three-level fair value hierarchy described in Note 17 - "Fair Value Measurements." The following table presents the fair value of the plans' investments by asset category (in thousands of dollars).
 Level 1Level 2Level 3Total
Assets at December 31, 2025    
Cash and cash equivalents$11,625 $— $— $11,625 
Intermediate bonds42,326 204,129 — 246,455 
Equity Securities: Large-Cap54,168 — — 54,168 
Equity Securities: Mid-Cap106,437 — — 106,437 
Equity Securities: Small-Cap85,047 — — 85,047 
Equity Securities: Micro-Cap43,752 — — 43,752 
Equity Securities: Global and International63,998 — — 63,998 
Equity Securities: Emerging Markets3,433 — — 3,433 
Plan assets measured at NAV (not subject to hierarchy disclosure)
Commingled Fund: Equity Securities: Large-Cap52,830 
Commingled Fund: Equity Securities: Global and International146,047 
Commingled Fund: Equity Securities: Emerging Markets52,305 
Direct Lending Fund: Fixed Income8,377 
Real estate77,141 
Other Private market investments71,760 
Total$410,786 $204,129 $— $1,023,375 
Postretirement plan assets(1)
$1,224 $30,307 $— $31,531 
 Level 1Level 2Level 3Total
Assets at December 31, 2024
    
Cash and cash equivalents$24,946 $— $— $24,946 
Intermediate bonds40,177 184,528 — 224,705 
Equity Securities: Large-Cap49,848 — — 49,848 
Equity Securities: Mid-Cap103,117 — — 103,117 
Equity Securities: Small-Cap82,932 — — 82,932 
Equity Securities: Micro-Cap38,871 — — 38,871 
Equity Securities: Global and International58,767 — — 58,767 
Equity Securities: Emerging Markets6,093 — — 6,093 
Plan assets measured at NAV (not subject to hierarchy disclosure)
Commingled Fund: Equity Securities: Large-Cap54,346 
Commingled Fund: Equity Securities: Global and International124,559 
Commingled Fund: Equity Securities: Emerging Markets41,590 
Direct Lending Fund: Fixed Income5,479 
Real estate72,913 
Other Private market investments62,976 
Total$404,751 $184,528 $— $951,142 
Postretirement plan assets(1)
$3,054 $28,074 $— $31,128 
(1) The postretirement benefits assets are primarily life insurance contracts.

For the years ended December 31, 2025 and 2024, there were no material transfers into or out of Levels 1, 2, or 3.
Fair Value Measurement of Level 2 Plan assets and Plan assets measured at NAV:

Level 2 Bonds: These investments represent United States government, agency bonds, and corporate bonds. The United States government and agency bonds, as well as the corporate bonds, are not traded on an exchange and are valued utilizing market prices for similar assets or liabilities in active markets.

Level 2 Postretirement Asset: This asset represents an investment in a life insurance contract and is recorded at fair value, which is the cash surrender value, less any unpaid expenses. The cash surrender value of this insurance contract is contractually equal to the insurance contract's proportionate share of the market value of an associated investment account held by the insurer. The investments held by the insurer's investment account are all instruments traded on exchanges with readily determinable market prices.

Commingled Funds: These funds, made up of global, international and emerging markets equity securities are measured at NAV, are not publicly traded, and therefore no publicly quoted market price is readily available. The values of the commingled funds are presented at estimated fair value, which is determined based on the unit value of the fund. The values of these investments are calculated by the custodian for the fund company on a monthly or more frequent basis, and are based on market prices of the assets held by each of the commingled funds divided by the number of fund shares outstanding for the respective fund. The investments in commingled funds have redemption limitations that permit monthly redemption following notice requirements of 1 to 15 days.

Direct Lending Funds: Direct lending strategies are closed-end funds that provide senior secured loans primarily to private, non-investment-grade companies. Direct lending fund investments are valued by the fund companies, or an independent external advisor, based on the estimated fair value of the underlying loans divided by the fund shares outstanding. These direct lending funds also furnish annual audited financial statements that are used to further validate the information provided. These closed-end funds are formed with a stated life of 6 to 10 years, which can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer.

Real Estate: Real estate holdings represent investments in open-end and closed-end commingled real estate funds. As the property interests held in these real estate funds are not frequently traded, establishing the market value of the property interests held by the fund, and the resulting unit value of fund shareholders, is based on unobservable inputs including property appraisals by the fund companies, property appraisals by independent appraisal firms, analysis of the replacement cost of the property, discounted cash flows generated by property rents and changes in property values, and comparisons with sale prices of similar properties in similar markets. These real estate funds also furnish annual audited financial statements that are also used to further validate the information provided. Redemptions on the open-end funds are generally available on a quarterly basis, with 10 to 35 days written notice, depending on the individual fund. If the fund has sufficient liquidity, the redemption will be processed at the fund NAV or the fund’s estimate of fair value at the end of the quarter. If the fund does not have sufficient liquidity to honor the full redemption, the remainder will be set for redemption the following quarter on a pro-rata basis with other redemption requests. This same process will repeat until the redemption request has been completed. To protect other fund holders, real estate funds have no duty to liquidate or encumber funds to meet redemption requests. The closed-end funds are formed for a stated life of 7 to 10 years. The fund can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer.

Other Private Market Investments: Private market investments represent three categories: venture capital funds, private infrastructure funds, and fund of hedge funds. These funds are valued by the fund companies based on the estimated fair values of the underlying fund holdings divided by the fund shares outstanding or multiplied by the ownership percentages of the holder. Venture capital fund investments are valued by the fund companies based on estimated fair value of the underlying fund holdings divided by the fund shares outstanding. Some venture capital investments have progressed to the point that they have readily available exchange-based market valuations. Early stage venture investments are valued based on unobservable inputs including cost, operating results, discounted cash flows, the price of recent funding events, or pending offers from other viable entities. These private market investments furnish annual audited financial statements that are also used to further validate the information provided. These funds are formed for a stated life of 10 to 15 years. The general partner can extend the fund life for 2 or 3 one-year periods. The fund can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer. The private infrastructure fund investment is valued by the fund manager through a process involving an independent third-party external valuator on a quarterly basis, with each investment undergoing a full independent valuation at least once per year. Redemption on the infrastructure fund are available on a quarterly basis beginning in April of 2027 with 90
days written notice. If the fund has sufficient liquidity, the redemption will be processed at the fund NAV at the end of the quarter. If the fund does not have sufficient liquidity to honor the full redemption, the remainder will be set for redemption the following quarter on a pro-rata basis with other redemption requests. This same process will repeat until the redemption request has been completed. The value of the fund of hedge funds investment is the residual value of an immaterial non-liquid position in a single fund of hedge funds.

Employee Savings Plan

Idaho Power has a defined contribution plan designed to comply with Section 401(k) of the Internal Revenue Code and that covers substantially all employees. Idaho Power matches specified percentages of employee contributions to the plan. Matching annual contributions were approximately $10.9 million, $10.4 million, and $9.8 million in 2025, 2024, and 2023, respectively.
 
Post-employment Benefits

Idaho Power provides certain benefits to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement, in addition to the health care benefits required under the Consolidated Omnibus Budget Reconciliation Act. These benefits include salary continuation, health care and life insurance for those employees found to be disabled under Idaho Power’s disability plans, and health care for surviving spouses and dependents. Idaho Power accrues a liability for such benefits. The post-employment benefits included in other liabilities on both IDACORP’s and Idaho Power’s consolidated balance sheets at December 31, 2025 and 2024, were approximately $1 million and $3 million.
v3.25.4
PROPERTY, PLANT AND EQUIPMENT AND JOINTLY-OWNED PROJECTS:
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure PROPERTY, PLANT AND EQUIPMENT AND JOINTLY-OWNED PROJECTS
 
The following table presents the major classifications of Idaho Power’s utility plant in service, annual depreciation provisions as a percent of average depreciable balance, and accumulated provision for depreciation for the years ended December 31 (in thousands of dollars):
 20252024
 BalanceAvg RateBalanceAvg Rate
Production$2,675,671 4.02 %$2,858,678 3.90 %
Transmission1,653,490 1.91 %1,534,474 1.89 %
Energy Storage(1)
509,740 5.06 %393,012 3.61 %
Distribution(1)
2,658,849 2.17 %2,465,423 2.16 %
General and Other751,356 5.27 %706,176 5.18 %
Total in service8,249,106 3.18 %7,957,763 3.06 %
Accumulated provision for depreciation(2,599,465) (2,714,706) 
In service - net$5,649,641  $5,243,057  
(1) The presentation of the major classifications of Idaho Power's utility plant in service in the table above has been modified to separately report the energy storage balance for the years ended December 31, 2025 and 2024. The prior year energy storage balance, which had previously been classified in the distribution balance, has been reclassified to conform with the current year presentation. This change reflects a shift from one acceptable presentation to another to enhance transparency.

At December 31, 2025, Idaho Power's construction work in progress balance of $1.7 billion included relicensing costs of $536.1 million for the HCC, Idaho Power's largest hydropower complex. The IPUC allows Idaho Power to collect a portion of AFUDC relating to the HCC relicensing project in its Idaho jurisdiction rates. For more information, refer to Note 3 - "Regulatory Matters." Collecting these amounts will reduce the amount collected in the future once the HCC relicensing costs are approved for recovery in base rates. At December 31, 2025, Idaho Power's regulatory liability for collection of AFUDC relating to the HCC was $281.0 million.

Idaho Power's ownership interest in two jointly-owned generating facilities is included in the table above. Under the joint operating agreements for these facilities, each participating utility is responsible for financing its share of construction, operating, and leasing costs. Idaho Power's proportionate share of operating expenses for each facility is included in the
Consolidated Statements of Income. These jointly-owned facilities, including balance sheet amounts and the extent of Idaho Power’s participation, were as follows at December 31, 2025 (in thousands of dollars): 
Name of PlantLocationUtility Plant in ServiceConstruction
Work in Progress		Accumulated
Provision for Depreciation		Ownership %
MW(1)(2)
Jim Bridger units 1-4Rock Springs, WY$777,096 $780 $575,151 33775
North Valmy units 1 & 2(2)
Winnemucca, NV42,113 21,118 (128)50284
(1) Idaho Power’s share of nameplate capacity.
(2) Pursuant to an agreement with NV Energy, Idaho Power ceased participation in coal-fired operations of North Valmy in December 2019 at unit 1 and December 2025 at unit 2. Idaho Power's 2025 IRP identified a preferred resource portfolio and action plan that includes the conversion of the two generating units at the North Valmy plant from coal to natural gas by mid-2026. The conversion of Unit 1 has been completed and the unit was placed in-service in December 2025, and conversion of Unit 2 is expected to be completed by mid-2026.

IERCo, Idaho Power’s wholly-owned subsidiary, is a joint-owner of BCC. Idaho Power’s coal purchases from BCC were $54.4 million in 2025, $51.6 million in 2024, and $67.9 million in 2023.
v3.25.4
ASSET RETIREMENT OBLIGATIONS
 12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligation Disclosure ASSET RETIREMENT OBLIGATIONS (ARO)
 
The guidance relating to accounting for AROs requires that legal obligations associated with the retirement of property, plant, and equipment be recognized as a liability at fair value when incurred and when a reasonable estimate of the fair value of the liability can be made. Under the guidance, when a liability is initially recorded, the entity increases the carrying amount of the related long-lived asset to reflect the future retirement cost. Over time, the liability is accreted to its estimated settlement value and paid, and the capitalized cost is depreciated over the useful life of the related asset. If, at the end of the asset’s life, the recorded liability differs from the actual obligations paid, a gain or loss would be recognized. As a rate-regulated entity, Idaho Power defers accretion, depreciation, and gains or losses as regulatory assets, as approved by the IPUC, until such ARO costs are included in customer rates for collection. The regulatory assets recorded under this order do not earn a return on investment.
 
Idaho Power’s recorded AROs relate to the reclamation and removal costs at its jointly-owned thermal generation facilities. In 2025, changes in estimates at the jointly-owned thermal generation facilities resulted in a net increase of $21.6 million in the recorded AROs. The increase is primarily related to updated post-closure cost estimates for a flue gas desulfurization pond at the Jim Bridger plant which was retired in December 2025.

Idaho Power also has additional AROs associated with its transmission system and generation facilities; however, due to the indeterminate removal date, the fair value of the associated liabilities currently cannot be estimated and no amounts are recognized in the consolidated financial statements.
 
Idaho Power also collects removal costs in rates for certain assets that do not have associated AROs. Idaho Power is required to classify these removal costs as regulatory liabilities, see Note 3 - "Regulatory Matters" for the removal costs recorded as regulatory liabilities on IDACORP’s and Idaho Power’s consolidated balance sheets as of December 31, 2025 and 2024.
 
The following table presents the changes in the carrying amount of AROs (in thousands of dollars): 
 20252024
Balance at January 1$51,126 $48,997 
Accretion expense2,457 1,895 
Revisions in estimated cash flows21,642 842 
Liability settled(1,249)(608)
Balance at December 31$73,976 $51,126 
v3.25.4
INVESTMENTS:
 12 Months Ended
Dec. 31, 2025
Investments [Abstract]  
Investments in Debt and Equity Securities INVESTMENTS
 
The table below summarizes IDACORP’s and Idaho Power’s investments as of December 31 (in thousands of dollars): 
 20252024
Idaho Power investments:  
BCC (equity method investment)$16,833 $20,998 
Exchange traded short-term bond funds and cash equivalents37,232 38,873 
Held-to-maturity securities33,822 32,151 
Executive deferred compensation plan investments1,216 899 
Total Idaho Power investments89,103 92,921 
IFS investments in real estate tax credit projects, such as affordable housing developments50,422 54,654 
Ida-West joint ventures (equity method investments)9,529 9,666 
Other investments5,948 4,099 
Total IDACORP investments$155,002 $161,340 
 
Equity Method Investments

Idaho Power, through its subsidiary IERCo, is a 33 percent owner of BCC. Ida-West, through separate subsidiaries, owns 50 percent of three electric generation projects that are accounted for using the equity method: South Forks Joint Venture, Hazelton/Wilson Joint Venture, and Snow Mountain Hydro LLC. All projects are reviewed periodically for impairment. The table below presents IDACORP’s and Idaho Power’s earnings of unconsolidated equity-method investments (in thousands of dollars):
 202520242023
BCC (Idaho Power)$2,984 $2,671 $10,540 
Ida-West joint ventures1,938 1,868 1,886 
Total$4,922 $4,539 $12,426 
 
Investments in Equity Securities

Investments in equity securities are reported at fair value. Any unrealized gains or losses on equity securities are included in income. Unrealized gains and losses on equity securities were immaterial at December 31, 2025 and 2024. There were no gross realized gains or losses from the sale of equity securities in 2025, 2024, and 2023.

Held-to-Maturity Securities

Idaho Power has a rabbi trust designated to provide funding for obligations related to the SMSP. During 2025 and 2024, the rabbi trust purchased $2.9 million and $1.8 million, respectively of held-to-maturity investments in corporate fixed-income and asset-backed debt securities. Substantially all of these debt securities mature between 2027 and 2037. Held-to-maturity investments are carried at amortized cost, reflecting Idaho Power’s ability and intent to hold the securities to maturity. Held-to-maturity investments are adjusted for the amortization or accretion of premiums or discounts, which are amortized or accreted over the life of the related held-to-maturity security. Such amortization and accretion are included in the “Other income, net” line in the consolidated statements of income. Due to increases in market interest rates in 2025 and 2024, all held-to-maturity securities were in a gross unrealized holding loss position totaling $1.4 million and $2.7 million at December 31, 2025 and 2024, respectively. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect material payment defaults or delinquencies and has not recorded an allowance for credit losses for these securities as of December 31, 2025 and 2024.

IDACORP Financial Services Investments

IFS invests primarily in real estate tax credit projects, such as affordable housing developments, which provide a return principally by reducing federal and state income taxes through tax credits and accelerated tax depreciation benefits. IFS has focused on a diversified approach to its investment strategy in order to limit both geographic and operational risk, with most of IFS’s investments having been made through syndicated funds. IDACORP accounts for its equity-method investments in
qualified real estate projects using the proportional amortization method and recognizes the net investment performance in the consolidated statements of income as a component of income tax expense.
v3.25.4
DERIVATIVE FINANCIAL INSTRUMENTS:
 12 Months Ended
Dec. 31, 2025
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Derivative Financial Instruments DERIVATIVE FINANCIAL INSTRUMENTS
 
Commodity Price Risk
 
Idaho Power is exposed to market risk relating to electricity, natural gas, and other fuel commodity prices, all of which are heavily influenced by supply and demand. Market risk may be influenced by market participants’ nonperformance of their contractual obligations and commitments, which affects the supply of or demand for the commodity. Idaho Power uses derivative instruments, such as physical and financial forward contracts, for both electricity and fuel to manage the risks relating to these commodity price exposures. The primary objectives of Idaho Power’s energy purchase and sale activity are to meet the demand of retail electric customers, maintain appropriate physical reserves to ensure reliability, and make economic use of temporary surpluses that may develop.
 
All of Idaho Power's derivative instruments have been entered into for the purpose of securing energy resources for future periods or economically hedging forecasted purchases and sales, though none of these instruments have been designated as cash flow hedges. Idaho Power offsets fair value amounts recognized on its balance sheet and applies collateral related to derivative instruments executed with the same counterparty under the same master netting agreement. Idaho Power does not offset a counterparty's current derivative contracts with the counterparty's long-term derivative contracts, although Idaho Power's master netting arrangements would allow current and long-term positions to be offset in the event of default. Also, in the event of default, Idaho Power's master netting arrangements would allow for the offsetting of all transactions executed under the master netting arrangement. These types of transactions may include non-derivative instruments, derivatives qualifying for scope exceptions, receivables and payables arising from settled positions, and other forms of non-cash collateral (such as letters of credit). These types of transactions are excluded from the offsetting presented in the derivative fair value and offsetting table that follows.

The table below presents the gains and losses on derivatives not designated as hedging instruments for the years ended December 31 (in thousands of dollars):
Location of Realized Gain/(Loss) on Derivatives Recognized in Income
Gain/(Loss) on Derivatives Recognized in Income(1)
202520242023
Financial swapsOperating revenues$559 $5,189 $4,216 
Financial swapsPurchased power(3,967)(7,101)(8,542)
Financial swapsFuel expense(37,659)(63,380)(16,209)
Forward contractsOperating revenues917 1,885 2,280 
Forward contractsPurchased power(1,017)(3,742)(4,035)
Forward contractsFuel expense(1,457)(2,510)(866)
(1) Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.
 
Settlement gains and losses on electricity swap contracts are recorded on the income statement in operating revenues or purchased power depending on the forecasted position being economically hedged by the derivative contract. Settlement gains and losses on contracts for natural gas are reflected in fuel expense. Settlement gains and losses on diesel derivatives are recorded in other O&M expense. See Note 17 - "Fair Value Measurements" for additional information concerning the determination of fair value for Idaho Power’s assets and liabilities from price risk management activities.

Credit Risk
 
At December 31, 2025, Idaho Power did not have material credit risk exposure from financial instruments, including derivatives. Idaho Power monitors credit risk exposure through reviews of counterparty credit quality, corporate-wide counterparty credit exposure, and corporate-wide counterparty concentration levels. Idaho Power manages these risks by establishing credit and concentration limits on transactions with counterparties and requiring contractual guarantees, cash deposits, bonds, or letters of credit from counterparties or their affiliates, as deemed necessary. Idaho Power’s physical power contracts are commonly under WSPP, Inc. agreements, physical gas contracts are usually under North American Energy Standards Board contracts, and financial transactions are usually under International Swaps and Derivatives Association, Inc.
contracts. These contracts typically contain adequate assurance clauses requiring collateralization if a counterparty has debt that is downgraded below investment grade by at least one rating agency.
 
Credit-Contingent Features
 
Certain of Idaho Power's derivative instruments contain provisions that require Idaho Power's unsecured debt to maintain an investment grade credit rating from Moody's and Standard & Poor's Ratings Services. If Idaho Power's unsecured debt were to fall below investment grade, it would be in violation of these provisions, and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position at December 31, 2025, was $55.8 million. As of December 31, 2025, Idaho Power posted $45.1 million of cash collateral related to this amount. If the credit-risk-related contingent features underlying these agreements were triggered on December 31, 2025, Idaho Power would have been required to pay or post collateral to its counterparties up to an additional $34.0 million to cover open liability positions as well as completed transactions that have not yet been paid.

Derivative Instrument Summary

The table below presents the fair values and locations of derivative instruments not designated as hedging instruments recorded on the balance sheets and reconciles the gross amounts of derivatives recognized as assets and as liabilities to the net amounts presented in the balance sheets (in thousands of dollars):
Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
December 31, 2025
Current:   
Financial swapsOther current liabilities2,535 (2,535)— 34,486 (29,394)(1)5,092 
Forward contractsOther current assets3 — 3 — — — 
Forward contractsOther current liabilities— — — 1,009 — 1,009 
Long-term:  
Financial swapsOther liabilities1,444 (1,444)— 7,479 (4,385)(2)3,094 
Forward contractsOther liabilities— — — 10,524 — 10,524 
Total $3,982 $(3,979)$3 $53,498 $(33,779)$19,719 
December 31, 2024
Current:   
Financial swapsOther current liabilities3,072 (3,072)— 18,092 (14,931)(3)3,161 
Forward contractsOther current liabilities— — — 1,291 — 1,291 
Long-term:   
Financial swapsOther assets1,939 (1,939)(4)— 409 (409)— 
Financial swapsOther liabilities177 (177)— 1,019 (177)842 
Forward contractsOther liabilities— — — 10,965 — 10,965 
Total $5,188 $(5,188)$— $31,776 $(15,517)$16,259 
(1) Current liability derivative amounts offset include $26.9 million of collateral receivable at December 31, 2025.
(2) Long-term liability derivative amounts offset include $2.9 million of collateral receivable at December 31, 2025.
(3) Current liability derivative amounts offset include $11.9 million of collateral receivable at December 31, 2024.
(4) Long-term asset derivative amounts offset include $1.5 million of collateral payable at December 31, 2024.
The table below presents the volumes of derivative commodity forward contracts and swaps outstanding at December 31 (in thousands of units):
CommodityUnits20252024
Electricity purchasesMWh200 161 
Electricity salesMWh33 16 
Natural gas purchasesMMBtu131,863 88,330 
v3.25.4
FAIR VALUE MEASUREMENTS:
 12 Months Ended
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
 
IDACORP and Idaho Power have categorized their financial instruments into a three-level fair value hierarchy, based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.
 
Financial assets and liabilities recorded on the consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
 
•      Level 1: Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that IDACORP and Idaho Power have the ability to access.
 
•      Level 2: Financial assets and liabilities whose values are based on the following:
a) quoted prices for similar assets or liabilities in active markets;
b) quoted prices for identical or similar assets or liabilities in non-active markets;
c) pricing models whose inputs are observable for substantially the full term of the asset or liability; and
d) pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability.
 
IDACORP and Idaho Power Level 2 inputs for derivative instruments are based on quoted market prices adjusted for location using corroborated, observable market data or using quoted price which may be in non-active markets.
 
•      Level 3: Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.
 
IDACORP’s and Idaho Power’s assessment of a particular input's significance to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy. There were no transfers between levels or material changes in valuation techniques or inputs during the years ended December 31, 2025 and 2024.

Certain instruments have been valued using NAV as a practical expedient. The NAV is generally not published and publicly available, nor are these instruments traded on an exchange. Instruments valued using NAV as a practical expedient are included in the fair value disclosures below; however, in accordance with GAAP are not classified within the fair value hierarchy levels.
The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of December 31 (in thousands of dollars): 
20252024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$62,012 $— $— $62,012 $146,308 $— $— $146,308 
Idaho Power110,602 — — 110,602 158,999 — — 158,999 
Derivatives— 3 — 3 — — — — 
Equity securities38,448 — — 38,448 39,772 — — 39,772 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 5,948 — — — 4,099 
Liabilities:
Derivatives$8,186 $11,533 $— $19,719 $4,003 $12,256 $— $16,259 
(1) Holding company only. Does not include amounts held by Idaho Power.

Idaho Power’s derivatives are contracts entered into as part of its management of loads and resources. Electricity swap derivatives are valued on the Intercontinental Exchange (ICE) with quoted prices in an active market. Electricity forward contract derivatives are valued using a blend of two electricity exchanges, adjusted for location basis, as specified in the forward contract. Natural gas and diesel derivatives are valued using New York Mercantile Exchange (NYMEX) and ICE pricing, adjusted for location basis, which are also quoted under NYMEX and ICE pricing. Equity securities at Idaho Power consist of employee-directed investments related to an executive deferred compensation plan and actively traded money market and exchange traded funds related to the SMSP. The investments are measured using quoted prices in active markets and are held in a rabbi trust.

The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of December 31, using available market information and appropriate valuation methodologies (in thousands of dollars).
 20252024
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
IDACORP    
Assets:    
Notes receivable(1)
$1,507 $1,507 $2,155 $2,155 
Held-to-maturity securities(1)
33,822 32,468 32,151 29,428 
Liabilities:    
Long-term debt (including current portion)(1)
3,447,338 3,270,200 3,073,662 2,807,803 
Idaho Power    
Assets:
Held-to-maturity securities(1)
$33,822 $32,468 $32,151 $29,428 
Liabilities:    
Long-term debt (including current portion)(1)
3,447,338 3,270,200 3,073,662 2,807,803 
(1) Notes receivable are categorized as Level 3 and held-to-maturity securities and long-term debt are categorized as Level 2 of the fair value hierarchy, as defined earlier in this Note 17 - "Fair Value Measurements."

Notes receivable are related to Ida-West and are valued based on unobservable inputs, including forecasted cash flows, which are partially based on expected hydropower conditions. Held-to-maturity securities are held in a rabbi trust and are generally valued using quoted prices, which may be in non-active markets. Long-term debt is not traded on an exchange and is valued using quoted rates for similar debt in active markets. Carrying values for cash and cash equivalents, deposits, customer and other receivables, notes payable, accounts payable, interest accrued, and taxes accrued approximate fair value.
v3.25.4
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
 
IDACORP’s only reportable segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power’s regulated operations include the generation, transmission, distribution, purchase, and sale of electricity. This segment also includes income from IERCo, a wholly-owned subsidiary of Idaho Power that is also subject to regulation and is a one-third owner of BCC, an unconsolidated investment.
 
IDACORP’s other operating segments are below the quantitative and qualitative thresholds for reportable segments and are included in the “All Other” category in the table below. This category is comprised of IFS’s investments in affordable housing and other real estate tax credits, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses.

The President and Chief Executive Officer of IDACORP and Idaho Power is the companies' chief operating decision maker (CODM). The CODM uses net income, compared with historical results and forecasted expectations, to monitor the utility segment's results, monitor and plan utility-specific regulatory strategy, allocate capital investments, and inform financing decisions.

The CODM is regularly provided with segment expense information for utility operations at the same level of detail as presented in Idaho Power's consolidated statements of income.

The table below summarizes the segment information for IDACORP’s utility operations and the total of all other segments, and reconciles this information to total enterprise amounts (in thousands of dollars):
Utility
Operations		All
Other		EliminationsConsolidated
Total
2025    
Revenues$1,809,609 $3,388 $— $1,812,997 
Depreciation and amortization251,072 — — 251,072 
Operating income355,417 (1,441)— 353,976 
Other income, net76,700 (184)— 76,516 
Interest income, including carrying charges on regulatory assets35,337 10,829 (2,971)43,195 
Equity-method income2,984 1,938 — 4,922 
Interest expense167,753 3,409 (2,971)168,191 
Income before income taxes302,685 7,733 — 310,418 
Income tax benefit(13,177)(538)— (13,715)
Net Income attributable to IDACORP, Inc.315,862 7,610 — 323,472 
Total assets10,036,896 261,518 (72,977)10,225,437 
Expenditures for long-lived assets1,178,990 337 — 1,179,327 
2024    
Revenues$1,822,965 $3,668 $— $1,826,633 
Depreciation and amortization223,410 — — 223,410 
Operating income328,183 (344)— 327,839 
Other income, net64,309 (303)— 64,006 
Interest income, including carrying charges on regulatory assets38,639 9,090 (3,244)44,485 
Equity-method income2,671 1,868 — 4,539 
Interest expense135,516 3,593 (3,244)135,865 
Income before income taxes298,286 6,718 — 305,004 
Income tax expense (benefit)17,681 (2,628)— 15,053 
Net Income attributable to IDACORP, Inc.280,605 8,569 — 289,174 
Total assets8,966,968 350,287 (77,892)9,239,363 
Expenditures for long-lived assets1,009,138 141 — 1,009,279 
2023    
Revenues$1,762,894 $3,462 $— $1,766,356 
Depreciation and amortization195,341 — — 195,341 
Operating income313,379 98 — 313,477 
Other income, net51,424 (46)— 51,378 
Interest income, including carrying charges on regulatory assets26,509 4,688 (2,832)28,365 
Equity-method income10,540 1,886 — 12,426 
Interest expense116,117 3,172 (2,832)116,457 
Income before income taxes285,736 3,453 — 289,189 
Income tax expense (benefit)28,926 (1,630)— 27,296 
Net Income attributable to IDACORP, Inc.256,810 4,385 — 261,195 
Total assets8,323,531 228,681 (76,294)8,475,918 
Expenditures for long-lived assets610,913 224 — 611,137 
v3.25.4
OTHER INCOME AND EXPENSE
 12 Months Ended
Dec. 31, 2025
OTHER INCOME AND EXPENSE [Abstract]  
Other Income and Other Expense Disclosure OTHER INCOME AND EXPENSE
 
The following table presents the components of IDACORP’s other income, net and Idaho Power's other income, net (in thousands of dollars):
IDACORP202520242023
Interest and dividend income, net$23,872 $22,577 $15,266 
Carrying charges on regulatory assets19,323 21,908 13,099 
Pension and postretirement non-service costs(5,986)(8,077)(6,513)
Income from life insurance investments13,244 10,186 8,384 
Other income6,769 8,659 6,286 
Total other income, net$57,222 $55,253 $36,522 
Idaho Power
Interest and dividend income, net$16,014 $16,731 $13,410 
Carrying charges on regulatory assets19,323 21,908 13,099 
Pension and postretirement non-service costs(5,986)(8,077)(6,513)
Income from life insurance investments13,244 10,186 8,384 
Other income6,953 8,962 6,333 
Total other income, net$49,548 $49,710 $34,713 
v3.25.4
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)
 12 Months Ended
Dec. 31, 2025
Statement of Comprehensive Income [Abstract]  
Changes in Accumulated Other Comprehensive Income [Text Block] CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME
Comprehensive income includes net income and amounts related to the SMSP. The table below presents changes in components of AOCI, net of tax, during the years ended December 31 (in thousands of dollars). Items in parentheses indicate reductions to AOCI.
202520242023
Defined benefit pension items
Balance at beginning of period$(13,592)$(17,184)$(12,922)
Other comprehensive income before reclassifications, net of tax of $(374), $851, and $(1,680)
(2,034)2,454 (4,848)
Amounts reclassified out of AOCI to net income, net of tax of $229, $394, and $203
682 1,138 586 
Net current-period other comprehensive income(1,352)3,592 (4,262)
Balance at end of period$(14,944)$(13,592)$(17,184)

The table below presents the effects on net income of amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the years ended December 31 (in thousands of dollars). Items in parentheses indicate increases to net income.
Amount Reclassified from AOCI
202520242023
Amortization of defined benefit pension items(1)
Prior service cost$221 $220 $219 
Net loss690 1,312 570 
Total before tax911 1,532 789 
Tax benefit(2)
(229)(394)(203)
Net of tax682 1,138 586 
Total reclassification for the period$682 $1,138 $586 
(1) Amortization of these items is included in "Other (income) expense, net" in the consolidated income statements of both IDACORP and Idaho Power.
(2) The tax benefit is included in "Income tax expense" in the consolidated income statements of both IDACORP and Idaho Power.
v3.25.4
RELATED PARTY TRANSACTIONS:
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions RELATED PARTY TRANSACTIONS
 
IDACORP: Idaho Power performs corporate functions such as financial, legal, and management services for IDACORP and its subsidiaries. Idaho Power charges IDACORP for the costs of these services based on service agreements and other specifically identified costs. For these services, Idaho Power billed IDACORP $1.5 million in 2025, $1.1 million in 2024, and $1.1 million in 2023.

At December 31, 2025 and 2024, Idaho Power had a $3.3 million and $3.2 million payable to IDACORP, respectively, which was included in its accounts payable to affiliates balance on its consolidated balance sheets. At IDACORP, the receivable from Idaho Power is eliminated in consolidation.
 
Ida-West: Idaho Power purchases all of the power generated by four of Ida-West’s 50 percent owned PURPA-qualifying hydropower projects located in Idaho. Idaho Power purchased $9.5 million in 2025, $9.6 million in 2024, and $9.1 million in 2023 of power from Ida-West.
v3.25.4
SALE OF OREGON ASSETS
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment Impairment or Disposal [Abstract]  
Subsequent Events SALE OF OREGON ASSETS
On February 13, 2026, Idaho Power executed a definitive agreement to sell its Oregon electric distribution business as well as certain Oregon transmission assets to OTEC. The base purchase price to be paid by OTEC for the Oregon Sale is $154 million, and is subject to certain adjustments at the closing of the transaction. Idaho Power has agreed to operate its Oregon electric distribution business and applicable transmission assets in the ordinary course of business and subject to certain operating covenants during the period between the date of the asset purchase agreement and the completion of the proposed transaction. The Oregon Sale is subject to various closing conditions, including approvals of the OPUC, IPUC, and FERC, as well as certain
price adjustment and termination provisions. Any gain or loss resulting from the Oregon Sale is expected to be immaterial to the consolidated financial statements of both IDACORP and Idaho Power.
v3.25.4
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
 Year Ended December 31,
 202520242023
 (thousands of dollars)
Income:  
Equity in income of subsidiaries$321,927 $289,689 $262,081 
Investment income7,539 3,976 1,932 
Total income329,466 293,665 264,013 
Expenses:   
Operating expenses930 621 553 
Interest expense3,307 3,593 3,171 
Other expenses2,000 1,300 200 
Total expenses6,237 5,514 3,924 
Income Before Income Taxes323,229 288,151 260,089 
Income Tax Benefit(243)(1,023)(1,106)
Net Income Attributable to IDACORP, Inc.323,472 289,174 261,195 
Other comprehensive (loss) income(1,352)3,592 (4,262)
Comprehensive Income Attributable to IDACORP, Inc.$322,120 $292,766 $256,933 
The accompanying note is an integral part of these statements.
IDACORP, INC.
CONDENSED STATEMENTS OF CASH FLOWS
 Year Ended December 31,
 202520242023
 (thousands of dollars)
Operating Activities:   
Net cash provided by operating activities$215,505 $194,597 $154,190 
Investing Activities:   
Contributions to subsidiaries(195,000)(200,000)— 
Purchase of investments(2,419)(651)(1,002)
Maturities of investments385 — — 
Net cash used in investing activities(197,034)(200,651)(1,002)
Financing Activities:   
Issuance of common stock97,777 298,450 — 
Dividends on common stock(187,633)(175,615)(162,646)
Change in intercompany notes payable(7,952)11,430 (282)
Other(3,625)(4,015)(3,533)
Net cash (used in) provided by financing activities(101,433)130,250 (166,461)
Net (decrease) increase in cash and cash equivalents(82,962)124,196 (13,273)
Cash and cash equivalents at beginning of year178,094 53,898 67,171 
Cash and cash equivalents at end of year$95,132 $178,094 $53,898 
The accompanying note is an integral part of these statements.
IDACORP, INC.
CONDENSED BALANCE SHEETS
 December 31,
 20252024
Assets(thousands of dollars)
Current Assets:  
Cash and cash equivalents$95,132 $178,094 
Receivables1,923 2,646 
Income taxes receivable7,091 2,350 
Other103 107 
Total current assets104,249 183,197 
Investments3,534,519 3,210,209 
Other Assets: 
Deferred income taxes2,363 11,829 
Other381 397 
Total other assets2,744 12,226 
Total assets$3,641,512 $3,405,632 
Liabilities and Shareholders’ Equity 
Noncurrent Liabilities:
Intercompany notes payable$69,291 $74,272 
Other347 406 
Total noncurrent liabilities69,638 74,678 
IDACORP, Inc. Shareholders’ Equity3,571,874 3,330,954 
Total Liabilities and Shareholders' Equity$3,641,512 $3,405,632 
The accompanying note is an integral part of these statements.
BASIS OF PRESENTATION
 
Pursuant to rules and regulations of the SEC, the unconsolidated condensed financial statements of IDACORP do not reflect all of the information and notes normally included with financial statements prepared in accordance with GAAP. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and related notes included in the 2025 Form 10-K, Part II, Item 8.

Accounting for Subsidiaries: IDACORP has accounted for the earnings of its subsidiaries under the equity method of accounting in these unconsolidated condensed financial statements. Included in net cash provided by operating activities in the condensed statements of cash flows are dividends that IDACORP subsidiaries paid to IDACORP of $193 million, $177 million, and $105 million in 2025, 2024, and 2023, respectively.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Assessing, identifying, managing, and mitigating risks from cybersecurity threats that may affect Idaho Power's systems and service are essential to its business. IDACORP's and Idaho Power's board of directors oversees risks from cybersecurity threats through the audit committee and the executive committee. The audit committee assists the board in the oversight of Idaho Power's major cybersecurity risk exposures, including oversight of management’s information security activities. Those activities include briefing the audit committee and the board on information security matters several times a year in their regular meetings and on an ad hoc basis, conducting an annual security training program, and arranging for external security assessments. Together with the audit committee, the board's executive committee assists the board in monitoring management’s risk management framework for cybersecurity.

IDACORP and Idaho Power include risks from cybersecurity threats, including from use of third-party service providers, as part of the companies' enterprise risk assessment process. The companies have utilized and continue to utilize recognized third-party cybersecurity standards such as those published by the Center for Internet Security and the U.S. National Institute of Standards and Technology in developing their risk management framework for cybersecurity, their cybersecurity processes, controls, and procedures, and risk identification. The companies engage with consultants and other third parties, as necessary, to design, enhance, and implement appropriate cybersecurity measures in seeking to mitigate risks from cybersecurity threats. As part of the companies' strategy to manage risks from cybersecurity threats with third-party service providers, the companies seek to include appropriate security clauses in their contracts with those providers, including incident reporting requirements.

A dedicated cybersecurity team lead by a cybersecurity manager and director of security oversee the assessment and management of risks from cybersecurity threats on a day-to-day basis at IDACORP and Idaho Power. The cybersecurity manager reports to Idaho Power's director of security. The cybersecurity team has a range of expertise including architecture, forensics, cloud, incident response, auditing/logging, and software administration, with several industry-recognized certifications among the team, including Certified Information Systems Security Professional and Certified Information Security Manager.

The cybersecurity team monitors and reviews threat intelligence feeds from various sources, including security vendors and U.S. federal and state agencies, to determine potential risks to the companies' information and control systems. Additionally, the team utilizes a defense-in-depth approach to cybersecurity that provides layers of defenses and monitoring/alerting to which the
team responds. The team also monitors the companies' third-party service providers for risks related to the confidentiality, availability, and integrity of the companies' data and services hosted through those third parties.

The companies have an established cybersecurity incident response plan to provide structure and guidance when responding to cybersecurity incidents. Under the plan, in appropriate cases, an incident response team is activated to lead the companies' response. The team is composed of individuals from the cybersecurity team and other departments within the companies with relevant expertise, as well as third-party contractors and vendors.

Utilities are the operators of critical infrastructure and maintain sensitive information, and as such the industry has been subject to, and will likely continue to be subject to, attempts to gain unauthorized access to systems and confidential information to disrupt operations or for monetary gain. Idaho Power, like other entities in the utility industry, is experiencing an increase in the frequency and sophistication of these attempts. For the year ended December 31, 2025, and the subsequent period to the date of this report, IDACORP and Idaho Power believe that no risks from known cybersecurity incidents have materially affected or are reasonably likely to materially affect IDACORP or Idaho Power, including their business strategy, results of operations, and financial condition. However, the companies can provide no assurance that there will not be cybersecurity threats or incidents in the future or that any such threat or incident will not materially affect the companies, including their business strategy, results of operations, or financial condition. For more information regarding the risks the companies face from cybersecurity threats, see Item 1A. “Risk Factors” included in this report.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Assessing, identifying, managing, and mitigating risks from cybersecurity threats that may affect Idaho Power's systems and service are essential to its business. IDACORP's and Idaho Power's board of directors oversees risks from cybersecurity threats through the audit committee and the executive committee. The audit committee assists the board in the oversight of Idaho Power's major cybersecurity risk exposures, including oversight of management’s information security activities. Those activities include briefing the audit committee and the board on information security matters several times a year in their regular meetings and on an ad hoc basis, conducting an annual security training program, and arranging for external security assessments. Together with the audit committee, the board's executive committee assists the board in monitoring management’s risk management framework for cybersecurity.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] The audit committee assists the board in the oversight of Idaho Power's major cybersecurity risk exposures, including oversight of management’s information security activities. Those activities include briefing the audit committee and the board on information security matters several times a year in their regular meetings and on an ad hoc basis, conducting an annual security training program, and arranging for external security assessments. Together with the audit committee, the board's executive committee assists the board in monitoring management’s risk management framework for cybersecurity.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The audit committee assists the board in the oversight of Idaho Power's major cybersecurity risk exposures, including oversight of management’s information security activities.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] A dedicated cybersecurity team lead by a cybersecurity manager and director of security oversee the assessment and management of risks from cybersecurity threats on a day-to-day basis at IDACORP and Idaho Power. The cybersecurity manager reports to Idaho Power's director of security.
Cybersecurity Risk Role of Management [Text Block]
A dedicated cybersecurity team lead by a cybersecurity manager and director of security oversee the assessment and management of risks from cybersecurity threats on a day-to-day basis at IDACORP and Idaho Power. The cybersecurity manager reports to Idaho Power's director of security. The cybersecurity team has a range of expertise including architecture, forensics, cloud, incident response, auditing/logging, and software administration, with several industry-recognized certifications among the team, including Certified Information Systems Security Professional and Certified Information Security Manager.

The cybersecurity team monitors and reviews threat intelligence feeds from various sources, including security vendors and U.S. federal and state agencies, to determine potential risks to the companies' information and control systems. Additionally, the team utilizes a defense-in-depth approach to cybersecurity that provides layers of defenses and monitoring/alerting to which the
team responds. The team also monitors the companies' third-party service providers for risks related to the confidentiality, availability, and integrity of the companies' data and services hosted through those third parties.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The audit committee assists the board in the oversight of Idaho Power's major cybersecurity risk exposures, including oversight of management’s information security activities. Those activities include briefing the audit committee and the board on information security matters several times a year in their regular meetings and on an ad hoc basis, conducting an annual security training program, and arranging for external security assessments. Together with the audit committee, the board's executive committee assists the board in monitoring management’s risk management framework for cybersecurity.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The cybersecurity team has a range of expertise including architecture, forensics, cloud, incident response, auditing/logging, and software administration, with several industry-recognized certifications among the team, including Certified Information Systems Security Professional and Certified Information Security Manager.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Those activities include briefing the audit committee and the board on information security matters several times a year in their regular meetings and on an ad hoc basis, conducting an annual security training program, and arranging for external security assessments
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Organization, Consolidation, Presentation, and Significant Accounting Policies Level 2 (Policies)
 12 Months Ended
Dec. 31, 2025
Significant Accounting Policies  
Nature of Business
Nature of Business
 
IDACORP is a holding company formed in 1998 whose principal operating subsidiary is Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity with a service area covering approximately 24,000 square miles in southern Idaho and eastern Oregon. On February 13, 2026, Idaho Power signed an asset purchase agreement with OTEC for the sale of Idaho Power's electric distribution business and certain transmission assets in the state of Oregon. Refer to Note 22 - "Sale of Oregon Assets" for additional information regarding the Oregon Sale. Idaho Power is regulated primarily by the state utility regulatory commissions of Idaho and Oregon and the FERC. Idaho Power is the parent of IERCo, a joint-owner of BCC, which mines and supplies coal to the Jim Bridger plant owned in part by Idaho Power.
 
IDACORP’s other notable subsidiaries include IFS, an investor in affordable housing and other real estate tax credit investments, and Ida-West, an operator of small PURPA-qualifying hydropower generation projects.
Principles of Consolidation
Principles of Consolidation
 
IDACORP’s and Idaho Power’s consolidated financial statements include the assets, liabilities, revenues, and expenses of each company and its subsidiaries listed above, as well as any variable interest entity (VIE) for which the respective company is the primary beneficiary. Investments in VIEs for which the companies are not the primary beneficiaries, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method of accounting. 

IDACORP also consolidates one VIE, Marysville Hydro Partners (Marysville), which is a joint venture owned 50 percent by Ida-West and 50 percent by Environmental Energy Company (EEC). At December 31, 2025, Marysville had approximately $14.2 million of primarily hydropower plant assets. EEC has borrowed amounts from Ida-West to fund a portion of its required capital contributions to Marysville. The loans are payable from EEC’s share of distributions from Marysville and are secured by the stock of EEC and EEC’s interest in Marysville. Ida-West is identified as the primary beneficiary because the combination of its ownership interest in the joint venture and the EEC note result in Ida-West's ability to control the activities of the joint venture.
 
The BCC investment is also a VIE, but because the power to direct the activities that most significantly impact the economic performance of BCC is shared with the joint-owner, Idaho Power is not the primary beneficiary. The carrying value of Idaho Power's investment in BCC was $16.8 million at December 31, 2025, and Idaho Power's maximum exposure to loss is the carrying value, any additional future contributions to BCC, and a $50.1 million guarantee for mine reclamation costs. BCC has a reclamation trust fund set aside specifically for the purpose of paying the reclamation costs. At December 31, 2025, the value of BCC's reclamation trust fund exceeded the guarantee requirement for the total reclamation obligation. The guarantee, reclamation obligation, and reclamation trust are discussed further in Note 9 - "Commitments."
 
IFS's affordable housing limited partnership and other real estate tax credit investments are also VIEs for which IDACORP is not the primary beneficiary. IFS's limited partnership interests range from 7 to 100 percent and were acquired between 2004 and 2023. As a limited partner, IFS does not control these entities and they are not consolidated. IFS’s maximum exposure to loss in these developments is limited to its net carrying value, which was $50.4 million at December 31, 2025.

Ida-West's other investments in PURPA facilities, Idaho Power's investment in BCC, and IFS's investments are accounted for under the equity method of accounting (see Note 15 - "Investments").

Except for amounts related to sales of electricity by Ida-West's PURPA projects to Idaho Power, all intercompany transactions and balances have been eliminated in consolidation. 
The accompanying consolidated financial statements include Idaho Power's proportionate share of utility plant and related operations resulting from its interests in jointly-owned plants (see Note 13 - "Property, Plant and Equipment and Jointly-Owned Projects").
Regulation of Utility Operations
Regulation of Utility Operations

As a regulated utility, many of Idaho Power's fundamental business decisions are subject to the approval of governmental agencies, including the prices that Idaho Power is authorized to charge for its electric service. These approvals are a critical factor in determining IDACORP's and Idaho Power's results of operations and financial condition.
Idaho Power meets the requirements under GAAP to prepare its financial statements applying the specialized rules to account for the effects of cost-based rate regulation. IDACORP’s and Idaho Power’s financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. Accounting for the economics of rate regulation impacts multiple financial statement line items and disclosures, such as property, plant, and equipment; regulatory assets and liabilities; operating revenues; O&M expense; depreciation and amortization expense; and income tax expense. The application of accounting principles related to regulated operations sometimes results in Idaho Power recording expenses and revenues in a different period than when an unregulated entity would record such expenses and revenues. In these instances, the amounts are deferred or accrued as regulatory assets or regulatory liabilities on the balance sheet. Regulatory assets represent incurred costs that have been deferred because it is probable they will be recovered from customers through future rates. Regulatory liabilities represent obligations to make refunds to customers for previous collections, or represent amounts collected in advance of incurring an expense.
Management Estimates
Management Estimates
 
Management makes estimates and assumptions when preparing financial statements in conformity with GAAP. These estimates and assumptions include, among others, those related to rate regulation, retirement benefits, contingencies, asset impairment, income taxes, unbilled receivables, and the allowance for uncollectible accounts. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, future economic factors that are difficult to predict and are beyond management’s control. Accordingly, actual results could differ from those estimates.
System of Accounts
System of Accounts

The accounting records of Idaho Power conform to the Uniform System of Accounts prescribed by the FERC and adopted by the public utility commissions of Idaho, Oregon, and Wyoming.
Cash and Cash Equivalents
Cash and Cash Equivalents

Cash and cash equivalents include cash on-hand and highly liquid temporary investments that mature within 90 days of the date of acquisition.
Credit Loss, Financial Instrument
Receivables and Allowance for Uncollectible Accounts

Customer receivables are recorded at the invoiced amounts and do not bear interest. A late payment fee of one percent and 2.4 percent in Idaho Power's Idaho and Oregon jurisdictions, respectively, may be assessed per month on account balances after 30 days. An allowance is recorded for potential uncollectible accounts. The measurement of expected credit losses on Idaho Power accounts receivable is based on historical experience, current economic conditions, and forecasted information that may affect collections on the outstanding balance. Generally, this includes adjustments based upon a combination of historical write-off experience, aging of accounts receivable, an analysis of specific customer accounts, and an evaluation of whether there are current or forecasted economic conditions that might cause variation in collection from the historical experience. Adjustments are charged to income. Customer accounts receivable balances that remain outstanding after reasonable collection efforts are written off.
The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables (in thousands of dollars):
Year Ended
December 31,
 20252024
Balance at beginning of period$5,071 $4,869 
Additions to the allowance3,004 4,523 
Write-offs, net of recoveries(4,287)(4,321)
Balance at end of period$3,788 $5,071 
Allowance for uncollectible accounts as a percentage of customer receivables3.7 %4.2 %

Other receivables, primarily notes receivable from business transactions, are also reviewed for impairment periodically, based upon transaction-specific facts. When it is probable that IDACORP or Idaho Power will be unable to collect all amounts due according to the contractual terms of the agreement, an allowance is established for the estimated uncollectible portion of the receivable and charged to income.

There were no impaired receivables without related allowances at December 31, 2025 and 2024. Once a receivable is determined to be impaired, any further interest income recognized is fully reserved.
Derivative Financial Instruments
Derivative Financial Instruments

Financial instruments such as commodity futures, forwards, options, and swaps are used to manage exposure to commodity price risk in the electricity and natural gas markets. All derivative instruments are recognized as either assets or liabilities at fair value on the balance sheet unless they are designated as normal purchases and normal sales. With the exception of forward contracts for the purchase of natural gas for use at Idaho Power's natural gas generation facilities and a nominal number of power transactions, Idaho Power’s physical forward contracts are designated as normal purchases and normal sales. Because of Idaho Power’s regulatory accounting mechanisms, Idaho Power records the unrealized changes in fair value of derivative instruments related to power supply as regulatory assets or liabilities.
Revenues
Revenues
Operating revenues are generally recorded when service is rendered or energy is delivered to customers. Idaho Power accrues estimated unbilled receivables for electric services delivered to customers but not yet billed at year-end. Idaho Power does not report any collections of franchise fees and similar taxes related to energy consumption on the income statement. In addition, regulatory mechanisms in place in Idaho and Oregon affect the reported amount of revenue.
Property, Plant and Equipment and Depreciation
Property, Plant, and Equipment and Depreciation

The cost of utility plant in service represents the original cost of contracted services, direct labor and material, AFUDC, and indirect charges for engineering, supervision, and similar overhead items. Repair and maintenance costs associated with planned major maintenance are expensed as the costs are incurred, as are maintenance and repairs of property and replacements and renewals of items determined to be less than units of property. For utility property replaced or renewed, the original cost plus removal cost less salvage is charged to accumulated provision for depreciation, while the cost of related replacements and renewals is added to property, plant, and equipment.
 
All utility plant in service is depreciated using the straight-line method at rates approved by regulatory authorities. Annual depreciation provisions as a percent of average depreciable utility plant in service approximated 3.2 percent in 2025, 3.1 percent in 2024, and 2.9 percent in 2023.

During the period of construction, costs expected to be included in the final value of the constructed asset, and depreciated once the asset is complete and placed in service, are classified as construction work in progress on the consolidated balance sheets. If the project becomes probable of being abandoned, these costs are expensed in the period such determination is made. Idaho Power may seek recovery of these costs in customer rates, although there can be no guarantee such recovery would be granted.
 
Long-lived assets are periodically reviewed for impairment when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the undiscounted expected future cash flows from an asset is less than the carrying value of the asset, impairment is recognized in the financial statements. There were no material impairments of long-lived assets in 2025, 2024, or 2023.
Allowance for Funds Used During Construction
Allowance for Funds Used During Construction

AFUDC represents the cost of financing construction projects with borrowed funds and equity funds. With one exception, for the HCC relicensing project, cash is not realized currently from such allowance; it is realized under the ratemaking process over the service life of the related property through increased revenues resulting from a higher rate base and higher depreciation expense. AFUDC is included as a reduction to total nonoperating expense, net, on the consolidated statements of income. Idaho Power’s weighted-average monthly AFUDC rate was 7.2 percent for both 2025 and 2024, and 7.4 percent for 2023.
Income Taxes
Income Taxes

IDACORP and Idaho Power account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method (commonly referred to as normalized accounting), deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. In general, deferred income tax expense or benefit for a reporting period is recognized as the change in deferred tax assets and liabilities from the beginning to the end of the period. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date unless Idaho Power's primary regulator, the IPUC, orders direct deferral of the effect of the change in tax rates over a longer period of time.

Consistent with orders and directives of the IPUC, unless contrary to applicable income tax guidance, Idaho Power does not record deferred income tax expense or benefit for certain income tax temporary differences and instead recognizes the tax impact currently (commonly referred to as flow-through accounting) for rate making and financial reporting. Therefore, Idaho Power's effective income tax rate is impacted as these differences arise and reverse. Idaho Power recognizes such adjustments as regulatory assets or liabilities if it is probable that such amounts will be recovered from or returned to customers in future rates.

IDACORP and Idaho Power use judgment, estimation, and historical data in developing the provision for income taxes and the reporting of tax-related assets and liabilities, including development of current year tax depreciation, capitalized repair costs, capitalized overheads, and other items. Income taxes can be impacted by changes in tax laws and regulations, interpretations by taxing authorities, changes to accounting guidance, and actions by federal or state public utility regulators. Actual income taxes could vary from estimated amounts and may result in favorable or unfavorable impacts to net income, cash flows, and tax-related assets and liabilities.

In compliance with the federal income tax requirements for the use of accelerated tax depreciation, Idaho Power records deferred income taxes related to its plant assets for the difference between income tax depreciation and book depreciation used for financial statement purposes. Deferred income taxes are recorded for other temporary differences unless accounted for using flow-through.
 
Investment tax credits earned on regulated assets are deferred and amortized to income over the estimated service lives of the related properties.
Other Accounting Policies
Other Accounting Policies

Debt discount, expense, and premium are deferred and amortized over the terms of the respective debt issuances. Losses on reacquired debt and associated costs are amortized over the life of the associated replacement debt, as allowed under regulatory accounting.
New and Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures which expands the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. This ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The amendments in this ASU are required to be applied prospectively and are allowed to be applied retrospectively. IDACORP and Idaho Power adopted this ASU on January 1, 2025, for annual periods. The amendments in this ASU have been applied retrospectively. See Note 2 - "Income Taxes" for expanded disclosure required by this ASU.

There have been no other recently adopted accounting pronouncements that have had a material impact on IDACORP's or Idaho Power's consolidated financial statements.

Recent Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement (Subtopic 220-40): Disaggregation of Income Statement Expenses which requires disclosure of certain disaggregated income statement expense categories on an annual and interim basis. This ASU is effective for annual periods beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The amendments in this ASU are required to be applied prospectively and are allowed to be applied retrospectively. IDACORP and Idaho Power are currently evaluating the impact that adoption of this ASU will have on the notes to their respective consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software which amends certain aspects of the accounting for and disclosure of software costs. This ASU is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted. The amendments in this ASU are required to be applied prospectively and may be applied either retrospectively or using a modified prospective transition method. IDACORP and Idaho Power are currently evaluating the impact that adoption of this ASU will have on their respective consolidated financial statements.

There have been no other recent accounting pronouncements not yet adopted that are expected to have a material impact on IDACORP's or Idaho Power's consolidated financial statements.
Uncertain Tax Positions
Uncertain Tax Positions

IDACORP and Idaho Power believe that they have no material income tax uncertainties for 2025 and prior tax years. Both companies recognize interest accrued related to unrecognized tax benefits as interest expense and penalties as other expense. 
 
IDACORP and Idaho Power are subject to examination by their major tax jurisdictions - United States federal and the State of Idaho. The open tax years for examination are 2023 through 2025 for federal and 2022 through 2025 for Idaho. In May 2009, IDACORP formally entered the U.S. Internal Revenue Service Compliance Assurance Process (CAP) program for its 2009 tax year and has remained in the CAP program for all subsequent years.
Forward Sale Agreement, Policy The FSAs have been classified as an equity transaction because they are indexed to IDACORP’s common stock and the other requirements necessary for equity classification are met. As a result of the equity classification, no gain or loss will be recognized within earnings due to subsequent changes in the fair value of the FSAs.
Earnings Per Share, Policy Prior to settlement, the potentially issuable shares pursuant to the FSAs will be reflected in IDACORP’s diluted earnings per share calculations using the treasury stock method. Under this method, the number of shares of IDACORP’s common stock used in calculating diluted earnings per share for a reporting period would be increased by the number of shares, if any, that would be issued upon physical settlement of the FSAs less the number of shares that could be purchased by IDACORP in the market with the proceeds received from issuance (based on the average market price during that reporting period). Share dilution occurs when the average market price of IDACORP’s stock during the reporting period is higher than the then-applicable forward sale price as of the end of the reporting period. As of December 31, 2025, 2024, and 2023, approximately 490,000, 47,000, and 34,000 incremental shares, respectively, were included in the calculation of diluted earnings per share related to the securities under the FSAs.
Share-based compensation, stock awards policy
Restricted stock unit awards have three-year vesting periods, entitle the recipients to dividend equivalents, and units do not have voting rights until the units are vested and settled in shares. Unvested awards are restricted as to disposition and subject to forfeiture under certain circumstances. The fair value of these awards is based on the closing market price of common stock on the grant date and is charged to compensation expense over the vesting period, reduced for any forfeitures during the vesting period.
 
Performance-based unit awards have three-year vesting periods and do not have voting rights until the units are vested and settled in shares. Unvested awards are restricted as to disposition, subject to forfeiture under certain circumstances, and subject to the attainment of specific performance conditions over the three-year vesting period. The performance conditions are two equally-weighted metrics, cumulative earnings per share (CEPS) and total shareholder return (TSR) relative to a peer group. Depending on the level of attainment of the performance conditions and the year issued, the final number of shares awarded can range from zero to 200 percent of the target award. Dividend equivalents are accrued during the vesting period and paid out based on the final number of shares awarded.
 
The grant-date fair value of the CEPS portion is based on the closing market value at the date of grant, reduced by the loss in time-value of the estimated future dividend payments. The fair value of this portion of the awards is charged to compensation expense over the requisite service period based on the estimated achievement of performance targets, reduced for any forfeitures during the vesting period. The grant-date fair value of the TSR portion is estimated using the market value at the date of grant and a statistical model that incorporates the probability of meeting performance targets based on historical returns relative to the peer group. The fair value of this portion of the awards is charged to compensation expense over the requisite service period, provided the requisite service period is rendered, regardless of the level of TSR metric attained.
Guarantees
IDACORP and Idaho Power enter into financial agreements and power purchase and sale agreements that include indemnification provisions relating to various forms of claims or liabilities that may arise from the transactions contemplated by these agreements. Generally, a maximum obligation is not explicitly stated in the indemnification provisions and, therefore, the overall maximum amount of the obligation under such indemnification provisions cannot be reasonably estimated. IDACORP and Idaho Power periodically evaluate the likelihood of incurring costs under such indemnities based on their historical experience and the evaluation of the specific indemnities. As of December 31, 2025, management believes the likelihood is remote that IDACORP or Idaho Power would be required to perform under such indemnification provisions or otherwise incur any significant losses with respect to such indemnification obligations. Neither IDACORP nor Idaho Power has recorded any liability on their respective consolidated balance sheets with respect to these indemnification obligations.
Lessee, Leases
A lease exists when an arrangement allows the lessee to control the use of an identified asset for a stated period in exchange for payments. Idaho Power determines if an arrangement is a lease and its classification at the lease commencement date. All leases must be recognized as a lease right-of-use (ROU) asset and a lease liability on the balance sheet of the lessee. The ROU asset represents the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments. Idaho Power has elected the practical expedient to not separate non-lease components from lease components and instead account for both as a single lease component.

Lease ROU assets and lease liabilities are estimated and recognized at the lease commencement date based on the net present value of fixed lease payments over the lease term. Variable lease payments are expensed as incurred. If the lease does not provide an implicit rate, Idaho Power uses its collateralized incremental borrowing rate based on the information available at the commencement date to determine the present value of fixed lease payments. The implicit rate is used when it is readily determinable. Idaho Power recovers 100 percent of the Idaho-jurisdiction portion of lease payments on all existing arrangements classified as finance leases through the PCA, and recovers the Oregon-jurisdiction portion of lease payments through the APCU. Idaho Power recognizes lease expenses consistent with regulatory cost recovery, so lease expenses in excess of amounts recovered through the PCA and APCU are deferred as a regulatory asset.
IDACORP does not record leases with a term of 12 months or less in the consolidated balance sheets.
Contingencies
IDACORP and Idaho Power have in the past and expect in the future to become involved in various claims, controversies, disputes, and other contingent matters, some of which involve litigation and regulatory or other contested proceedings. The ultimate resolution and outcome of litigation and regulatory proceedings is inherently difficult to determine, particularly where (a) the remedies or penalties sought are indeterminate, (b) the proceedings are in the early stages or the substantive issues have not been well developed, or (c) the matters involve complex or novel legal theories or a large number of parties. In accordance with applicable accounting guidance, IDACORP and Idaho Power, as applicable, establish an accrual for legal proceedings when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. If the loss contingency at issue is not both probable and reasonably estimable, IDACORP and Idaho Power do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. As of the date of this report, IDACORP's and Idaho Power's accruals for loss contingencies are not material to their financial statements as a whole; however, future accruals could be material in a given period. IDACORP's and Idaho Power's determination is based on currently available information, and estimates presented in financial statements and other financial disclosures involve significant judgment and may be subject to significant uncertainty. For matters that affect Idaho Power's operations, Idaho Power intends to seek, to the extent permissible and appropriate, recovery through the ratemaking process of costs incurred, although there is no assurance that such recovery would be granted.
IDACORP and Idaho Power are parties to legal claims and legal, tax, and regulatory actions and proceedings in the ordinary course of business and, as noted above, record an accrual for associated loss contingencies when they are probable and reasonably estimable.
Asset Retirement Obligations
The guidance relating to accounting for AROs requires that legal obligations associated with the retirement of property, plant, and equipment be recognized as a liability at fair value when incurred and when a reasonable estimate of the fair value of the liability can be made. Under the guidance, when a liability is initially recorded, the entity increases the carrying amount of the related long-lived asset to reflect the future retirement cost. Over time, the liability is accreted to its estimated settlement value and paid, and the capitalized cost is depreciated over the useful life of the related asset. If, at the end of the asset’s life, the recorded liability differs from the actual obligations paid, a gain or loss would be recognized. As a rate-regulated entity, Idaho Power defers accretion, depreciation, and gains or losses as regulatory assets, as approved by the IPUC, until such ARO costs are included in customer rates for collection. The regulatory assets recorded under this order do not earn a return on investment.
 
Idaho Power’s recorded AROs relate to the reclamation and removal costs at its jointly-owned thermal generation facilities. In 2025, changes in estimates at the jointly-owned thermal generation facilities resulted in a net increase of $21.6 million in the recorded AROs. The increase is primarily related to updated post-closure cost estimates for a flue gas desulfurization pond at the Jim Bridger plant which was retired in December 2025.

Idaho Power also has additional AROs associated with its transmission system and generation facilities; however, due to the indeterminate removal date, the fair value of the associated liabilities currently cannot be estimated and no amounts are recognized in the consolidated financial statements.
 
Idaho Power also collects removal costs in rates for certain assets that do not have associated AROs. Idaho Power is required to classify these removal costs as regulatory liabilities
Equity Method Investments
Equity Method Investments
Idaho Power, through its subsidiary IERCo, is a 33 percent owner of BCC. Ida-West, through separate subsidiaries, owns 50 percent of three electric generation projects that are accounted for using the equity method: South Forks Joint Venture, Hazelton/Wilson Joint Venture, and Snow Mountain Hydro LLC. All projects are reviewed periodically for impairment.
Available-for-sale Securities
Investments in Equity Securities
Investments in equity securities are reported at fair value. Any unrealized gains or losses on equity securities are included in income.
Debt Securities, Held-to-Maturity Held-to-maturity investments are carried at amortized cost, reflecting Idaho Power’s ability and intent to hold the securities to maturity. Held-to-maturity investments are adjusted for the amortization or accretion of premiums or discounts, which are amortized or accreted over the life of the related held-to-maturity security.
Investments in Affordable Housing
IFS invests primarily in real estate tax credit projects, such as affordable housing developments, which provide a return principally by reducing federal and state income taxes through tax credits and accelerated tax depreciation benefits. IFS has focused on a diversified approach to its investment strategy in order to limit both geographic and operational risk, with most of IFS’s investments having been made through syndicated funds. IDACORP accounts for its equity-method investments in
qualified real estate projects using the proportional amortization method and recognizes the net investment performance in the consolidated statements of income as a component of income tax expense.
Derivatives not designated as hedges
Idaho Power is exposed to market risk relating to electricity, natural gas, and other fuel commodity prices, all of which are heavily influenced by supply and demand. Market risk may be influenced by market participants’ nonperformance of their contractual obligations and commitments, which affects the supply of or demand for the commodity. Idaho Power uses derivative instruments, such as physical and financial forward contracts, for both electricity and fuel to manage the risks relating to these commodity price exposures. The primary objectives of Idaho Power’s energy purchase and sale activity are to meet the demand of retail electric customers, maintain appropriate physical reserves to ensure reliability, and make economic use of temporary surpluses that may develop.
 
All of Idaho Power's derivative instruments have been entered into for the purpose of securing energy resources for future periods or economically hedging forecasted purchases and sales, though none of these instruments have been designated as cash flow hedges. Idaho Power offsets fair value amounts recognized on its balance sheet and applies collateral related to derivative instruments executed with the same counterparty under the same master netting agreement. Idaho Power does not offset a counterparty's current derivative contracts with the counterparty's long-term derivative contracts, although Idaho Power's master netting arrangements would allow current and long-term positions to be offset in the event of default. Also, in the event of default, Idaho Power's master netting arrangements would allow for the offsetting of all transactions executed under the master netting arrangement. These types of transactions may include non-derivative instruments, derivatives qualifying for scope exceptions, receivables and payables arising from settled positions, and other forms of non-cash collateral (such as letters of credit).
Reporting of derivative activity Settlement gains and losses on electricity swap contracts are recorded on the income statement in operating revenues or purchased power depending on the forecasted position being economically hedged by the derivative contract. Settlement gains and losses on contracts for natural gas are reflected in fuel expense. Settlement gains and losses on diesel derivatives are recorded in other O&M expense.
Fair value of financial instruments
IDACORP and Idaho Power have categorized their financial instruments into a three-level fair value hierarchy, based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.
 
Financial assets and liabilities recorded on the consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
 
•      Level 1: Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that IDACORP and Idaho Power have the ability to access.
 
•      Level 2: Financial assets and liabilities whose values are based on the following:
a) quoted prices for similar assets or liabilities in active markets;
b) quoted prices for identical or similar assets or liabilities in non-active markets;
c) pricing models whose inputs are observable for substantially the full term of the asset or liability; and
d) pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability.
 
IDACORP and Idaho Power Level 2 inputs for derivative instruments are based on quoted market prices adjusted for location using corroborated, observable market data or using quoted price which may be in non-active markets.
 
•      Level 3: Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.
 
IDACORP’s and Idaho Power’s assessment of a particular input's significance to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy. There were no transfers between levels or material changes in valuation techniques or inputs during the years ended December 31, 2025 and 2024.
Certain instruments have been valued using NAV as a practical expedient. The NAV is generally not published and publicly available, nor are these instruments traded on an exchange.
Segment reporting
IDACORP’s only reportable segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power’s regulated operations include the generation, transmission, distribution, purchase, and sale of electricity. This segment also includes income from IERCo, a wholly-owned subsidiary of Idaho Power that is also subject to regulation and is a one-third owner of BCC, an unconsolidated investment.
 
IDACORP’s other operating segments are below the quantitative and qualitative thresholds for reportable segments and are included in the “All Other” category in the table below. This category is comprised of IFS’s investments in affordable housing and other real estate tax credits, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses.

The President and Chief Executive Officer of IDACORP and Idaho Power is the companies' chief operating decision maker (CODM). The CODM uses net income, compared with historical results and forecasted expectations, to monitor the utility segment's results, monitor and plan utility-specific regulatory strategy, allocate capital investments, and inform financing decisions.

The CODM is regularly provided with segment expense information for utility operations at the same level of detail as presented in Idaho Power's consolidated statements of income.
Pension Plan  
Significant Accounting Policies  
Fair value of financial instruments
Fair Value Measurement of Level 2 Plan assets and Plan assets measured at NAV:

Level 2 Bonds: These investments represent United States government, agency bonds, and corporate bonds. The United States government and agency bonds, as well as the corporate bonds, are not traded on an exchange and are valued utilizing market prices for similar assets or liabilities in active markets.

Level 2 Postretirement Asset: This asset represents an investment in a life insurance contract and is recorded at fair value, which is the cash surrender value, less any unpaid expenses. The cash surrender value of this insurance contract is contractually equal to the insurance contract's proportionate share of the market value of an associated investment account held by the insurer. The investments held by the insurer's investment account are all instruments traded on exchanges with readily determinable market prices.

Commingled Funds: These funds, made up of global, international and emerging markets equity securities are measured at NAV, are not publicly traded, and therefore no publicly quoted market price is readily available. The values of the commingled funds are presented at estimated fair value, which is determined based on the unit value of the fund. The values of these investments are calculated by the custodian for the fund company on a monthly or more frequent basis, and are based on market prices of the assets held by each of the commingled funds divided by the number of fund shares outstanding for the respective fund. The investments in commingled funds have redemption limitations that permit monthly redemption following notice requirements of 1 to 15 days.

Direct Lending Funds: Direct lending strategies are closed-end funds that provide senior secured loans primarily to private, non-investment-grade companies. Direct lending fund investments are valued by the fund companies, or an independent external advisor, based on the estimated fair value of the underlying loans divided by the fund shares outstanding. These direct lending funds also furnish annual audited financial statements that are used to further validate the information provided. These closed-end funds are formed with a stated life of 6 to 10 years, which can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer.

Real Estate: Real estate holdings represent investments in open-end and closed-end commingled real estate funds. As the property interests held in these real estate funds are not frequently traded, establishing the market value of the property interests held by the fund, and the resulting unit value of fund shareholders, is based on unobservable inputs including property appraisals by the fund companies, property appraisals by independent appraisal firms, analysis of the replacement cost of the property, discounted cash flows generated by property rents and changes in property values, and comparisons with sale prices of similar properties in similar markets. These real estate funds also furnish annual audited financial statements that are also used to further validate the information provided. Redemptions on the open-end funds are generally available on a quarterly basis, with 10 to 35 days written notice, depending on the individual fund. If the fund has sufficient liquidity, the redemption will be processed at the fund NAV or the fund’s estimate of fair value at the end of the quarter. If the fund does not have sufficient liquidity to honor the full redemption, the remainder will be set for redemption the following quarter on a pro-rata basis with other redemption requests. This same process will repeat until the redemption request has been completed. To protect other fund holders, real estate funds have no duty to liquidate or encumber funds to meet redemption requests. The closed-end funds are formed for a stated life of 7 to 10 years. The fund can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer.

Other Private Market Investments: Private market investments represent three categories: venture capital funds, private infrastructure funds, and fund of hedge funds. These funds are valued by the fund companies based on the estimated fair values of the underlying fund holdings divided by the fund shares outstanding or multiplied by the ownership percentages of the holder. Venture capital fund investments are valued by the fund companies based on estimated fair value of the underlying fund holdings divided by the fund shares outstanding. Some venture capital investments have progressed to the point that they have readily available exchange-based market valuations. Early stage venture investments are valued based on unobservable inputs including cost, operating results, discounted cash flows, the price of recent funding events, or pending offers from other viable entities. These private market investments furnish annual audited financial statements that are also used to further validate the information provided. These funds are formed for a stated life of 10 to 15 years. The general partner can extend the fund life for 2 or 3 one-year periods. The fund can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer. The private infrastructure fund investment is valued by the fund manager through a process involving an independent third-party external valuator on a quarterly basis, with each investment undergoing a full independent valuation at least once per year. Redemption on the infrastructure fund are available on a quarterly basis beginning in April of 2027 with 90
days written notice. If the fund has sufficient liquidity, the redemption will be processed at the fund NAV at the end of the quarter. If the fund does not have sufficient liquidity to honor the full redemption, the remainder will be set for redemption the following quarter on a pro-rata basis with other redemption requests. This same process will repeat until the redemption request has been completed. The value of the fund of hedge funds investment is the residual value of an immaterial non-liquid position in a single fund of hedge funds.
IDACORP  
Significant Accounting Policies  
Principles of Consolidation Accounting for Subsidiaries: IDACORP has accounted for the earnings of its subsidiaries under the equity method of accounting in these unconsolidated condensed financial statements.
v3.25.4
INCOME TAXES: Income Taxes Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
 IDACORP
 202520242023
Income before income taxes(1)
$309,757 $304,227 $288,491 
US federal income tax expense at statutory rate65,049 21.0 %63,888 21.0 %60,583 21.0 %
State income taxes, net of federal income tax effect(2)
12,480 4.0 %14,420 4.7 %13,675 4.7 %
Flow-through accounting and other effects of rate regulation: 
AFUDC(20,727)(6.7)%(17,015)(5.6)%(13,279)(4.6)%
Capitalized interest7,721 2.5 %5,493 1.8 %3,097 1.1 %
Removal costs(5,707)(1.8)%(5,109)(1.7)%(6,312)(2.2)%
Capitalized overhead costs(2,100)(0.7)%(2,100)(0.7)%(2,100)(0.7)%
Capitalized repair costs(24,150)(7.8)%(19,320)(6.4)%(24,360)(8.4)%
Depreciation22,001 7.1 %18,705 6.1 %18,041 6.3 %
Excess deferred income tax reversal(9,723)(3.1)%(10,047)(3.3)%(10,684)(3.7)%
Income tax return adjustments(8,046)(2.6)%1,844 0.6 %(8,229)(2.9)%
State related324 0.1 %6,043 2.0 %2,127 0.7 %
Other, net(808)(0.3)%776 0.3 %1,874 0.6 %
Tax credits:
Investment tax credits - federal (7,208)(2.3)%(4,480)(1.5)%(2,344)(0.8)%
Investment tax credits - Idaho— — %(3,791)(1.2)%(3,107)(1.1)%
Accumulated deferred investment tax credits - federal (7,017)(2.3)%(8,712)(2.9)%— — %
Accumulated deferred investment tax credits - Idaho(33,319)(10.8)%(21,119)(6.9)%— — %
Real estate-related tax credits - federal(7,790)(2.5)%(7,499)(2.5)%(6,869)(2.4)%
Nontaxable or nondeductible items(229)(0.1)%(516)(0.2)%120 — %
Other Items:
Real estate-related investment distributions(670)(0.2)%(1,611)(0.5)%(507)(0.2)%
Real estate-related investment amortization6,204 2.0 %5,203 1.7 %5,570 1.9 %
Total income tax (benefit) expense and effective tax rate$(13,715)(4.4)%$15,053 4.9 %$27,296 9.5 %
(1) Net of adjustment for income attributable to noncontrolling interests.
(2) State taxes in Idaho made up the majority (greater than 50%) of the tax effect in this category.
Idaho Power
202520242023
Income before income taxes$302,685 $298,286 $285,736 
US federal income tax expense at statutory rate63,564 21.0 %62,640 21.0 %60,005 21.0 %
State income taxes, net of federal income tax effect(1)
12,195 4.0 %14,139 4.7 %13,544 4.7 %
Flow-through accounting and other effects of rate regulation:
AFUDC(20,727)(6.8)%(17,015)(5.7)%(13,279)(4.6)%
Capitalized interest7,721 2.6 %5,493 1.8 %3,097 1.1 %
Removal costs(5,707)(1.9)%(5,109)(1.7)%(6,312)(2.2)%
Capitalized overhead costs(2,100)(0.7)%(2,100)(0.7)%(2,100)(0.7)%
Capitalized repair costs(24,150)(8.0)%(19,320)(6.5)%(24,360)(8.5)%
Depreciation22,001 7.3 %18,705 6.3 %18,041 6.3 %
Excess deferred income tax reversal(9,723)(3.2)%(10,047)(3.4)%(10,684)(3.7)%
Income tax return adjustments(8,581)(2.8)%1,794 0.6 %(7,732)(2.7)%
State related684 0.2 %6,361 2.1 %2,537 0.9 %
Other, net(577)(0.2)%759 0.3 %1,499 0.5 %
Tax credits:
Investment tax credits - federal(7,208)(2.4)%(4,480)(1.5)%(2,344)(0.8)%
Investment tax credits - Idaho— — %(3,791)(1.3)%(3,107)(1.1)%
Accumulated deferred investment tax credits - federal(7,017)(2.3)%(8,712)(2.9)%— — %
Accumulated deferred investment tax credits - Idaho(33,319)(11.0)%(21,119)(7.1)%— — %
Nontaxable or nondeductible items(233)(0.1)%(517)(0.2)%121 — %
Total income tax (benefit) expense and effective tax rate$(13,177)(4.4)%$17,6815.9 %$28,92610.1 %
(1) State taxes in Idaho made up the majority (greater than 50%) of the tax effect in this category.
Schedule of Components of Income Tax Expense
The items comprising income tax expense for the years ended December 31 are presented below (in thousands of dollars):
 IDACORPIdaho Power
 202520242023202520242023
Income taxes current:      
Federal$13,684 $19,252 $(13,253)$27,816 $20,447 $(4,757)
State5,754 15,750 5,634 8,128 12,674 3,627 
Total19,438 35,002 (7,619)35,944 33,121 (1,130)
Income taxes deferred:      
Federal(28,931)(73,565)(18,419)(35,697)(67,549)(19,086)
State(16,431)(15,608)(3,269)(18,826)(12,735)(1,051)
Total(45,362)(89,173)(21,688)(54,523)(80,284)(20,137)
Investment tax credits:      
Deferred52,946 102,946 55,644 52,946 102,946 55,644 
Restored(47,544)(38,102)(5,451)(47,544)(38,102)(5,451)
Total5,402 64,844 50,193 5,402 64,844 50,193 
Real estate-related investments at IFS6,807 4,380 6,410 — — — 
Total income tax (benefit) expense$(13,715)$15,053 $27,296 $(13,177)$17,681 $28,926 
Schedule of Deferred Tax Assets and Liabilities
The components of the net deferred tax liability as of December 31 are presented below (in thousands of dollars):
 IDACORPIdaho Power
 2025202420252024
Deferred tax assets:    
Regulatory liabilities$121,489 $127,634 $121,489 $127,634 
Deferred compensation24,483 24,782 24,483 24,782 
Deferred revenue70,326 64,592 70,326 64,592 
Tax credits70,854 66,783 67,930 53,859 
Partnership investments24,157 18,450 24,157 18,450 
Retirement benefits19,533 26,495 19,533 26,495 
Other37,884 24,869 37,831 24,826 
Total368,726 353,605 365,749 340,638 
Deferred tax liabilities:  
Property, plant and equipment235,849 243,454 235,849 243,454 
Regulatory assets821,346 811,054 821,346 811,054 
Partnership investments4,309 4,613 — — 
Retirement benefits65,214 75,716 65,214 75,716 
Wildfire mitigation plan deferral22,252 16,272 22,252 16,272 
Other22,641 24,727 22,027 23,588 
Total1,171,611 1,175,836 1,166,688 1,170,084 
Net deferred tax liabilities$802,885 $822,231 $800,939 $829,446 
Schedule of Cash Flow, Supplemental Disclosures
Supplemental cash flow information related to cash paid for income taxes for the years ended December 31 are presented below (in thousands of dollars):
 IDACORP
 202520242023
Federal$18,000 $14,000 $— 
Idaho5,600 10,300 5,300 
Other892 900 900 
Total cash paid for income taxes$24,492 $25,200 $6,200 
 Idaho Power
 202520242023
Federal$18,382 $30,615 $34,604 
Idaho7,522 5,598 15,765 
Other841 905 1,446 
Total cash paid to IDACORP related to income taxes$26,745 $37,118 $51,815 
v3.25.4
REGULATORY MATTERS: Regulatory Matters Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Regulatory Assets and Liabilities, Other Disclosure [Abstract]  
Schedule of Regulatory Assets and Liabilities
The following table presents a summary of Idaho Power’s regulatory assets and liabilities (in thousands of dollars):
As of December 31, 2025
Remaining
Amortization Period
Earning a Return(1)
Not Earning a ReturnTotal as of December 31,
Description20252024
Regulatory Assets:    
Income taxes(2)
 $— $821,346 $821,346 $811,054 
Pension expense deferrals(3)
245,508 1,832 247,340 252,197 
Mark-to-market assets(4)
— 49,520 49,520 28,118 
Unfunded postretirement benefits(5)
— — — 18,824 
Power supply costs(6)
— — — 18,507 
Fixed cost adjustment(6)
2026-20278,205 (1,350)6,855 17,761 
North Valmy plant settlements(6)
2026-203383,941 — 83,941 80,767 
Jim Bridger plant settlement(6)
2026-2030151,739 12,921 164,660 147,451 
Wildfire Mitigation Plan deferral(6)
— 91,670 91,670 63,966 
Asset retirement obligations(7)
 — 62,166 62,166 37,842 
Long-term service agreement2026-204311,313 7,326 18,639 19,796 
Other2026-20564,596 13,725 18,321 11,089 
Total $505,302 $1,059,156 $1,564,458 $1,507,372 
Regulatory Liabilities:     
Income taxes(8)
 $— $121,489 $121,489 $127,634 
Depreciation-related excess deferred income taxes(9)
128,180 — 128,180 137,903 
Removal costs(7)
 — 162,652 162,652 166,181 
Investment tax credits — 235,724 235,724 230,322 
Deferred revenue-AFUDC(10)
 224,083 56,896 280,979 250,942 
Energy efficiency program costs16,493 — 16,493 9,277 
Power supply costs(6)
2026-202742,419 — 42,419 3,949 
Unfunded postretirement benefits(5)
 — 11,785 11,785 — 
Tax reform accrual for future amortization(11)
— 44,423 44,423 42,266 
Other4,168 3,839 8,007 15,852 
Total $415,343 $636,808 $1,052,151 $984,326 
(1) Earning a return includes either interest or a return on the investment as a component of rate base at the allowed rate of return. The interest rate on deferral accounts is published annually by the IPUC and OPUC. The applicable rates for 2025 were 5.0% and 4.5%, respectively.
(2) Represents flow-through income tax accounting differences which have a corresponding deferred tax liability disclosed in Note 2 - "Income Taxes."
(3) Idaho Power records a regulatory asset for the difference between net periodic pension cost and pension cost considered for rate-making purposes relating to Idaho Power's defined benefit pension plan. In its Idaho jurisdiction, Idaho Power’s inclusion of pension costs for the establishment of retail rates is based upon contributions made to the pension plan. This regulatory asset account represents the difference between cumulative cash contributions and amounts collected in rates. Deferred costs are amortized into expense as the amounts are provided for in Idaho retail revenues.
(4) This item is discussed in more detail in Note 16 - "Derivative Financial Instruments."
(5) Represents the unfunded obligation of Idaho Power’s pension and postretirement benefit plans, which are discussed in Note 12 - "Benefit Plans."
(6) This item is discussed in more detail in this Note 3 - "Regulatory Matters."
(7) Asset retirement obligations and removal costs are discussed in Note 14 - "Asset Retirement Obligations (ARO)."
(8) Represents the tax gross-up related to the depreciation-related excess deferred income taxes and investment tax credits included in this table and has a corresponding deferred tax asset disclosed in Note 2 - "Income Taxes."
(9) For depreciation-related temporary differences under the normalized tax accounting method, the resulting excess deferred taxes will flow back to customers ratably over the remaining regulatory lives of Idaho Power's plant assets under the alternative method provided in the statute.
(10) Idaho Power is collecting revenue in the Idaho jurisdiction for AFUDC on HCC relicensing costs but is deferring revenue recognition of the amounts collected until the license is issued and the asset is placed in service under the new license.
(11) Represents amount accrued under the May 2018 Idaho tax reform settlement stipulation (described below) for the future amortization of existing or future unspecified regulatory deferrals that would otherwise be a future liability recoverable from Idaho customers.
Schedule of Power Cost Adjustment Changes
The table below summarizes the three most recent Idaho-jurisdiction PCA rate adjustments from Idaho Power's annual PCA filings, which also include non-PCA-related rate adjustments as ordered by the IPUC:
Effective Date$ Change (millions)Notes
June 1, 2025$(94.8)The $94.8 million net decrease in PCA rates reflects a decrease in the balancing adjustment, which is due primarily to the completed recovery of the 2023 balancing adjustment, which was recovered over two years.
June 1, 2024$(35.7)The $35.7 million net decrease in PCA rates reflected forecasted improved hydropower generation during the April 2024 to March 2025 PCA deferral period.
June 1, 2023$105.1 The $105.1 million increase in PCA rates reflected higher market energy and natural gas prices, combined with lower than-expected low-cost hydropower generation and limited coal supply. The increased rate also reflected an expectation of continued elevated market energy prices and natural gas prices in the forecast period.
Schedule of Fixed Cost Rate Adjustments
The following table summarizes FCA amounts approved for (refund) or collection in the prior three FCA years:
FCA YearPeriod Rates in EffectAnnual Amount
 (in millions of dollars)
2024June 1, 2025 to May 31, 2026$(3.1)
2023June 1, 2024 to May 31, 2025$36.8
2022June 1, 2023 to May 31, 2024$25.1
Schedule of Open Access Transmission Rates Idaho Power's OATT rates submitted to the FERC in Idaho Power's four most recent annual OATT Final Informational Filings were as follows:
Period Rates in EffectOATT Rate (per kW-year)
October 1, 2025 to September 30, 2026$34.16 
October 1, 2024 to September 30, 2025$31.55 
October 1, 2023 to September 30, 2024$30.74 
October 1, 2022 to September 30, 2023$31.42 
v3.25.4
REVENUES: Electric utility operating revenues (Tables)
 12 Months Ended
Dec. 31, 2025
Electric utility operating revenues [Line Items]  
Electric utility operating revenues
The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power (in thousands of dollars):
Year Ended December 31,
 202520242023
Electric utility operating revenues:
Revenue from contracts with customers$1,746,972 $1,768,881 $1,639,612 
Alternative revenue programs and derivative revenues62,637 54,084 123,282 
Total electric utility operating revenues$1,809,609 $1,822,965 $1,762,894 
Disaggregation of Revenue
Revenues from contracts with customers are primarily related to Idaho Power’s regulated tariff-based sales of energy or related services. Generally, tariff-based sales do not involve a written contract, but are classified as revenues from contracts with customers. Idaho Power assesses revenues on a contract-by-contract basis to determine the nature, amount, timing, and uncertainty, if any, of revenues being recognized.

The following table presents revenues from contracts with customers disaggregated by revenue source (in thousands of dollars):

Year Ended December 31,
 202520242023
Revenues from contracts with customers:
Retail revenues:
 Residential (includes $3,972, $(2,686), and $37,233, respectively, related to the FCA(1))
$708,126 $700,586 $684,649 
 Commercial (includes $(76), $(170), and $1,338, respectively, related to the FCA(1))
394,313 397,385 378,330 
Industrial270,571 267,211 244,538 
Irrigation198,468 196,401 173,929 
Deferred revenue related to HCC relicensing AFUDC(2)
(15,120)(8,803)(8,780)
Total retail revenues1,556,358 1,552,780 1,472,666 
Less: FCA mechanism revenues(1)
(3,896)2,856 (38,571)
Wholesale energy sales55,989 73,908 63,421 
Transmission wheeling-related revenues72,231 79,173 80,357 
Energy efficiency program revenues30,480 27,581 31,948 
Other revenues from contracts with customers35,810 32,583 29,791 
Total revenues from contracts with customers$1,746,972 $1,768,881 $1,639,612 
(1) The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
(2) The IPUC allows Idaho Power to recover a portion of the AFUDC on construction work in progress related to the HCC relicensing process in its Idaho jurisdiction, even though the relicensing process is not yet complete and the costs have not been moved to utility plant in service. Effective October 1, 2025, Idaho Power began collecting $38.5 million annually. Prior to October 1, 2025, Idaho Power collected $8.8 million annually. For more information refer to Note 3 - "Regulatory Matters." Amounts collected in the Idaho jurisdiction are recognized as deferred revenue until the license is issued and the accumulated license costs approved for recovery are placed in service.
Alternative revenue programs and other revenues
The table below presents the FCA mechanism revenues and derivative revenues (in thousands of dollars):
Year Ended December 31,
 202520242023
Alternative revenue programs and derivative revenues:
FCA mechanism revenues$3,896 $(2,856)$38,571 
Derivative revenues58,741 56,940 84,711 
Total alternative revenue programs and derivative revenues$62,637 $54,084 $123,282 
v3.25.4
LONG-TERM DEBT: Long-term Debt Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Instrument [Line Items]  
Schedule of Long-term Debt Instruments
The following table summarizes IDACORP's and Idaho Power's long-term debt at December 31 (in thousands of dollars):
20252024
First mortgage bonds:
1.90% Series due 2030
$80,000 $80,000 
6.00% Series due 2032
100,000 100,000 
4.99% Series due 2032
23,000 23,000 
5.50% Series due 2033
70,000 70,000 
5.50% Series due 2034
50,000 50,000 
5.875% Series due 2034
55,000 55,000 
5.20% Series due 2034
300,000 300,000 
5.30% Series due 2035
60,000 60,000 
6.30% Series due 2037
140,000 140,000 
6.25% Series due 2037
100,000 100,000 
4.85% Series due 2040
100,000 100,000 
4.30% Series due 2042
75,000 75,000 
5.06% Series due 2042
25,000 25,000 
5.06% Series due 2043
60,000 60,000 
4.00% Series due 2043
75,000 75,000 
3.65% Series due 2045
250,000 250,000 
4.05% Series due 2046
120,000 120,000 
4.20% Series due 2048
450,000 450,000 
5.20% Series due 2053
62,000 62,000 
5.50% Series due 2053
400,000 400,000 
5.80% Series due 2054
350,000 350,000 
5.70% Series due 2055
400,000 — 
Total first mortgage bonds3,345,000 2,945,000 
Pollution control revenue bonds:
1.70% Series due 2026(1)
116,300 116,300 
Total pollution control revenue bonds116,300 116,300 
American Falls Variable Rate bond guarantee due 2025— 19,885 
Unamortized premium/discount and issuance costs(13,962)(7,523)
Total IDACORP and Idaho Power outstanding debt(2)
3,447,338 3,073,662 
Current maturities of long-term debt(116,300)(19,885)
Total long-term debt$3,331,038 $3,053,777 
(1) Sweetwater County Pollution Control Revenue Bonds are secured by the first mortgage bonds, bringing the total first mortgage bonds outstanding at December 31, 2025, to $3.461 billion.
(2) At December 31, 2025 and 2024, the overall effective cost rate of Idaho Power's outstanding debt was 5.13 percent and 5.03 percent, respectively.
Schedule of Maturities of Long-term Debt
At December 31, 2025, the maturities for the aggregate amount of IDACORP and Idaho Power long-term debt outstanding were as follows (in thousands of dollars):
20262027202820292030Thereafter
$116,300 $— $— $— $80,000 $3,265,000 
v3.25.4
COMMON STOCK: Common Stock Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Class of Stock Disclosures [Abstract]  
Schedule of Stock by Class
The following table summarizes IDACORP common stock transactions during the last three years and shares reserved at December 31, 2025:
 Shares issuedShares reserved
 202520242023December 31, 2025
Balance at January 153,962,30050,615,23750,561,892 
Dividend reinvestment and stock purchase plan49,56963,084—2,729,049
Employee savings plan———3,567,954
At-the-market offering program(1)
801,914——
See table note (1)
Equity forward sale agreements—3,221,982—5,180,180
Long-term incentive and compensation plan(2)
45,34861,99753,3452,154,164
Continuous equity program (inactive)———3,000,000
Balance at December 3154,859,13153,962,30050,615,237 
(1) During 2024, IDACORP reserved shares of its common stock through the ATM offering program, up to an aggregate gross sales price of $300 million. At December 31, 2025, $155.5 million in shares of IDACORP’s common stock remained reserved. For more details, see "At-the-Market Offering Program" below in this Note 6.
(2) During 2025, 2024, and 2023, IDACORP granted 82,344, 103,771, and 75,295 restricted stock unit awards, respectively, to employees and 11,268, 15,616, and 12,459 shares of common stock, respectively, to directors. During 2025, 2024, and 2023, IDACORP issued 45,348, 61,997, and 53,345 shares of common stock, respectively, using original issuances of shares pursuant to the LTICP, including 9,273, 10,571, and 13,842 shares of common stock, respectively, issued to members of the board of directors.
Schedule of Forward Contracts Indexed to Issuer's Equity
At December 31, 2025, IDACORP had the following FSAs outstanding under its ATM offering program (in thousands of dollars, except for shares and forward price amounts):
Maturity DateSharesNet Proceeds AvailableForward Price
March 31, 2026198,086$22,789$115.05
March 31, 2026254,17028,970113.98
Total / Weighted Average Forward Price452,256$51,759$114.45
Schedule of Forward Contracts Indexed to Issuer's Equity
During 2025, IDACORP settled the following FSAs under its ATM offering program (in thousands of dollars, except for settlement shares and forward settlement price amounts):
Settlement DateSettlement Shares
Net Cash Proceeds(1)
Forward Settlement Price
November 12, 2025500,000$56,924$113.85
December 19, 2025301,91434,793115.24
Total / Weighted Average Forward Settlement Price801,914$91,717$114.37
(1) Settlement of the FSAs are reflected in IDACORP’s equity.
v3.25.4
SHARE-BASED COMPENSATION Share-based Compensation Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of restricted stock and performance-based shares award activity
A summary of restricted stock units and performance-based units award activity is presented below. Idaho Power unit amounts represent the portion of IDACORP amounts related to Idaho Power employees:
 IDACORPIdaho Power
Number of
Units		Weighted-Average
Grant Date
Fair Value		Number of
Units		Weighted-Average
Grant Date
Fair Value
Nonvested units at January 1, 2025234,809 $94.73 233,577 $94.73 
Units granted82,344 107.76 81,973 107.76 
Units forfeited(3,504)94.87 (2,962)94.28 
Units vested(65,727)102.52 (65,116)102.53 
Nonvested units at December 31, 2025247,922 $96.99 247,472 $97.00 
Compensation cost recognized in income
Compensation Expense: The following table shows the compensation cost recognized in income and the tax benefits resulting from the LTICP, as well as the amounts allocated to Idaho Power for those costs associated with Idaho Power’s employees (in thousands of dollars): 
 IDACORPIdaho Power
 202520242023202520242023
Compensation cost$12,505 $11,708 $9,578 $12,419 $11,608 $9,508 
Income tax benefit3,130 3,014 2,465 3,108 2,988 2,447 
v3.25.4
EARNINGS PER SHARE: Earnings Per Share Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Diluted
The following table presents the computation of IDACORP’s basic and diluted earnings per share for the years ended December 31 (in thousands of dollars and shares, except for per share amounts):
 202520242023
Numerator:   
Net income attributable to IDACORP, Inc.$323,472 $289,174 $261,195 
Denominator:  
Weighted-average common shares outstanding - basic54,235 52,543 50,717 
Effect of dilutive securities(1)
571 72 89 
Weighted-average common shares outstanding - diluted54,806 52,615 50,806 
Basic earnings per share$5.96 $5.50 $5.15 
Diluted earnings per share$5.90 $5.50 $5.14 
(1) Includes the effect of dilutive securities related to FSAs. See Note 6 - "Common Stock" for additional information concerning IDACORP's FSAs.
v3.25.4
COMMITMENTS: Commitments Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Long-term Contracts for Purchase of Electric Power
 20262027202820292030Thereafter
Cogeneration, power production, battery storage, and transmission rights$350,046 $383,878 $427,829 $428,270 $425,584 $3,710,029 
Fuel191,035 159,806 96,773 45,314 46,063 498,929 
Long-term Purchase Commitment
Idaho Power also has the following long-term commitments (in thousands of dollars):
 20262027202820292030Thereafter
Joint-operating agreement payments(1)
$2,983 $2,983 $2,983 $2,983 $2,983 $14,914 
Easements and other payments(1)
2,322 2,371 2,421 2,472 2,523 13,435 
Maintenance, service, and materials agreements(1)(2)
479,388 110,347 312,155 36,558 8,327 41,237 
FERC and other industry-related fees(1)
17,898 17,106 16,962 16,908 17,391 85,255 
(1) Approximately $30 million, $1 million, $16 million, and $170 million of the commitments included in joint-operating agreement payments, easements and other payments, maintenance, service, and materials agreements, and FERC and other industry-related fees, respectively, have contracts that do not specify terms related to expiration. As these contracts are presumed to continue indefinitely, ten years of information, estimated based on current contract terms, has been included in the table for presentation purposes.
(2) As of December 31, 2025, Idaho Power had a remaining $481 million commitment related to contracts to acquire and own transmission and generation resources with in-service dates in 2028 and 2030.
v3.25.4
LEASES: Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease, Cost [Table Text Block]
The following table provides a summary of the components of total lease cost included in the consolidated statements of income for the year ended December 31 (in thousands of dollars):
2025
Finance lease cost:
Amortization of ROU asset (Depreciation and amortization)$3,762 
Interest on lease liabilities (Interest on long-term debt and finance leases)(1)
8,586 
Total finance lease cost12,348 
Variable lease cost (Other O&M)973 
Total lease cost$13,321 
(1) Included in operating activities in the consolidated statements of cash flows as cash paid for amounts included in the measurement of lease liabilities.
Lessee, Finance Lease, Disclosure
The following table presents the classification of certain lease amounts included in the consolidated balance sheets as of December 31 (in thousands of dollars):
2025
Finance leases:
Other current liabilities$6,161 

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of December 31:
2025
Finance leases:
Weighted average remaining lease term19.38 years
Weighted average discount rate6.17 %
Finance Lease, Liability, to be Paid, Rolling Maturity [Abstract]
The following table presents the maturities of future fixed lease payments and a reconciliation of undiscounted cash flows to lease liabilities recognized on the consolidated balance sheets as of December 31, 2025 (in thousands of dollars):
Finance Leases
2026$19,751 
202719,751 
202819,751 
202919,751 
203019,751 
Thereafter283,907 
Total future fixed lease payments382,662 
Less: amounts representing interest(159,806)
Total present value of lease liabilities222,856
v3.25.4
BENEFIT PLANS: Benefit Plans Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plan Disclosure  
Schedule of Accumulated Other Comprehensive Income (Loss) The table below presents changes in components of AOCI, net of tax, during the years ended December 31 (in thousands of dollars). Items in parentheses indicate reductions to AOCI.
202520242023
Defined benefit pension items
Balance at beginning of period$(13,592)$(17,184)$(12,922)
Other comprehensive income before reclassifications, net of tax of $(374), $851, and $(1,680)
(2,034)2,454 (4,848)
Amounts reclassified out of AOCI to net income, net of tax of $229, $394, and $203
682 1,138 586 
Net current-period other comprehensive income(1,352)3,592 (4,262)
Balance at end of period$(14,944)$(13,592)$(17,184)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of December 31 (in thousands of dollars): 
20252024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$62,012 $— $— $62,012 $146,308 $— $— $146,308 
Idaho Power110,602 — — 110,602 158,999 — — 158,999 
Derivatives— 3 — 3 — — — — 
Equity securities38,448 — — 38,448 39,772 — — 39,772 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 5,948 — — — 4,099 
Liabilities:
Derivatives$8,186 $11,533 $— $19,719 $4,003 $12,256 $— $16,259 
(1) Holding company only. Does not include amounts held by Idaho Power.
Benefit Obligations [Member]  
Defined Benefit Plan Disclosure  
Schedule of Assumptions Used
The following table sets forth the weighted-average assumptions used at the end of each year to determine benefit obligations for all Idaho Power-sponsored pension and postretirement benefits plans:
Pension PlanSMSPPostretirement
Benefits
 202520242025202420252024
Discount rate5.75 %5.70 %5.65 %5.70 %5.60 %5.70 %
Rate of compensation increase(1)
4.42 %4.43 %4.75 %4.75 %— — 
Medical trend rate— — — — 7.0 %6.3 %
Dental trend rate— — — — 4.0 %3.5 %
Measurement date12/31/202512/31/202412/31/202512/31/202412/31/202512/31/2024
(1) The 2025 rate of compensation increase assumption for the pension plan includes an inflation component of 2.40% plus a 2.02% composite merit increase component that is based on employees' years of service. Merit salary increases are assumed to be 10.6% for employees in their first year of service and scale down to 3.4% for employees in their fortieth year of service and beyond.
Net Periodic Benefit Cost [Member]  
Defined Benefit Plan Disclosure  
Schedule of Assumptions Used
The following table sets forth the weighted-average assumptions used to determine net periodic benefit cost for all Idaho Power-sponsored pension and postretirement benefit plans: 
Pension PlanSMSPPostretirement
Benefits
 202520242023202520242023202520242023
Discount rate5.70 %5.10 %5.45 %5.70 %5.20 %5.50 %5.70 %5.15 %5.45 %
Expected long-term rate of return on assets
7.40 %7.40 %7.40 %— — — 6.00 %6.00 %6.00 %
Rate of compensation increase4.42 %4.43 %4.49 %4.75 %4.75 %4.75 %— — %— %
Medical trend rate— — — — — — 6.2 %7.1 %6.7 %
Dental trend rate— — — — — — 4.0 %3.5 %3.5 %
Pension Plan  
Defined Benefit Plan Disclosure  
Schedule of Defined Benefit Plans Disclosures
The following table summarizes the changes in benefit obligations and plan assets of these plans (in thousands of dollars): 
 Pension PlanSMSP
 2025202420252024
 
Change in projected benefit obligation:    
Benefit obligation at January 1$998,166 $1,028,016 $102,318 $105,809 
Service cost31,774 33,992 1,172 1,051 
Interest cost56,151 52,181 5,640 5,332 
Actuarial loss (gain)5,237 (65,972)2,401 (3,321)
Plan amendment— — 7 15 
Benefits paid(52,309)(50,051)(6,900)(6,568)
Projected benefit obligation at December 311,039,019 998,166 104,638 102,318 
Change in plan assets:  
Fair value at January 1951,142 917,513 — — 
Actual return on plan assets104,542 63,680 — — 
Employer contributions20,000 20,000 — — 
Benefits paid(52,309)(50,051)— — 
Fair value at December 311,023,375 951,142 — — 
Funded status at end of year$(15,644)$(47,024)$(104,638)$(102,318)
Amounts recognized in the balance sheet consist of:    
Other current liabilities$— $— $(6,855)$(6,827)
Noncurrent liabilities(15,644)(47,024)(97,783)(95,491)
Net amount recognized
$(15,644)$(47,024)$(104,638)$(102,318)
Amounts recognized in AOCI consist of:    
Net loss$13,142 $43,516 $18,154 $16,442 
Prior service cost18 24 1,780 1,995 
Subtotal13,160 43,540 19,934 18,437 
Less amount recorded as regulatory asset(1)
(13,160)(43,540)— — 
Net amount recognized in AOCI$— $— $19,934 $18,437 
Accumulated benefit obligation$895,190 $863,705 $99,105 $96,487 
(1) Changes in the funded status of the pension plan that would be recorded in AOCI for an unregulated entity are recorded as a regulatory asset for Idaho Power as Idaho Power believes it is probable that an amount equal to the regulatory asset will be collected through the setting of future rates.
Schedule of Costs of Retirement Plans
The following table shows the components of net periodic pension cost for these plans (in thousands of dollars). For purposes of calculating the expected return on plan assets, the market-related value of assets is equal to the fair value of the assets.
 Pension PlanSMSP
 202520242023202520242023
Service cost$31,774 $33,992 $29,843 $1,172 $1,051 $612 
Interest cost56,151 52,181 51,277 5,640 5,332 5,322 
Expected return on assets(68,931)(66,533)(61,728)— — — 
Amortization of net loss— 1,700 — 690 1,312 570 
Amortization of prior service cost6 6 6 221 220 219 
Net periodic pension cost19,000 21,346 19,398 7,723 7,915 6,723 
Regulatory deferral of net periodic pension cost(1)
(18,159)(20,425)(18,553)— — — 
Previously deferred pension cost recognized(1)
35,182 35,182 17,154 — — — 
Net periodic pension cost recognized for financial reporting(1)(2)
$36,023 $36,103 $17,999 $7,723 $7,915 $6,723 
(1) Net periodic pension costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under an IPUC order, the Idaho portion of net periodic pension cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
(2)  Of total net periodic pension cost recognized for financial reporting $37.8 million, $35.9 million, and $18.2 million respectively, was recognized in "Other operations and maintenance" and $6.0 million, $8.1 million, and $6.5 million respectively, was recognized in "Other income, net" on the consolidated statements of income of the companies for the twelve months ended December 31, 2025, 2024, and 2023.
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table shows the components of other comprehensive income (loss) for the plans (in thousands of dollars):
 Pension PlanSMSP
 202520242023202520242023
Actuarial gain (loss) during the year$30,374 $63,119 $(25,071)$(2,401)$3,320 $(6,517)
Plan amendment service cost— — — (7)(15)(11)
Reclassification adjustments for:
Amortization of net loss— 1,700 — 690 1,312 570 
Amortization of prior service cost6 6 6 221 220 219 
Adjustment for deferred tax effects(7,604)(16,686)6,452 145 (1,245)1,477 
Adjustment due to the effects of regulation
(22,776)(48,139)18,613 — — — 
Other comprehensive income (loss) recognized related to pension benefit plans$— $— $— $(1,352)$3,592 $(4,262)
Schedule of Expected Benefit Payments
The following table summarizes the expected future benefit payments of these plans (in thousands of dollars):
 202620272028202920302031-2035
Pension Plan$53,000 $54,713 $56,371 $58,110 $59,898 $331,936 
SMSP6,855 6,883 7,079 7,360 7,438 37,939 
Schedule of Allocation of Plan Assets
Pension Asset Allocation Policy: The target allocation and actual allocations at December 31, 2025, for the pension asset portfolio by asset class is set forth below:
Asset ClassTarget
Allocation		Actual
Allocation
December 31, 2025
Debt securities25 %25 %
Equity securities56 %59 %
Real estate8 %8 %
Other plan assets11 %8 %
Total100 %100 %
Postretirement Benefits  
Defined Benefit Plan Disclosure  
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table shows the components of other comprehensive income for the plan (in thousands of dollars):
 202520242023
Actuarial gain during the year$619 $3,616 $7,572 
Reclassification adjustments for:
Amortization of net loss(1,765)(1,494)(1,237)
Amortization of prior service cost1,375 1,548 1,665 
Adjustment for deferred tax effects(57)(945)(2,059)
Adjustment due to the effects of regulation
(172)(2,725)(5,941)
Other comprehensive income related to postretirement benefit plans
$— $— $— 
Schedule of Changes in Projected Benefit Obligations
The following table summarizes the changes in benefit obligation and plan assets (in thousands of dollars):
 20252024
Change in accumulated benefit obligation:  
Benefit obligation at January 1$54,604 $56,064 
Service cost672 698 
Interest cost2,973 2,824 
Actuarial loss (gain)1,976 (778)
Benefits paid(1)
(4,714)(4,204)
Benefit obligation at December 3155,511 54,604 
Change in plan assets:  
Fair value of plan assets at January 131,128 31,804 
Actual return on plan assets4,381 4,669 
Employer contributions(1)
736 (1,141)
Benefits paid(1)
(4,714)(4,204)
Fair value of plan assets at December 3131,531 31,128 
Funded status at end of year (included in noncurrent liabilities)$(23,980)$(23,476)
(1) Contributions and benefits paid are each net of $2.3 million and $2.3 million of plan participant contributions for 2025 and 2024, respectively.
Schedule of Accumulated Other Comprehensive Income (Loss)
Amounts recognized in AOCI consist of the following (in thousands of dollars):
 20252024
Net gain$(28,207)$(29,353)
Prior service cost3,262 4,636 
Subtotal(24,945)(24,717)
Less amount recognized in regulatory assets24,945 24,717 
Net amount recognized in AOCI$— $— 
Schedule of Net Benefit Costs
The net periodic postretirement benefit cost was as follows (in thousands of dollars):

 202520242023
Service cost$672 $698 $658 
Interest cost2,973 2,824 2,980 
Expected return on plan assets(1,786)(1,831)(1,650)
Amortization of net loss(1,765)(1,494)(1,237)
Amortization of prior service cost1,374 1,548 1,665 
Net periodic postretirement benefit cost$1,468 $1,745 $2,416 
Schedule of Expected Benefit Payments
The following table summarizes the expected future benefit payments of the postretirement benefit plan (in thousands of dollars):
 202620272028202920302031-2035
Expected benefit payments$4,855 $4,715 $4,620 $4,580 $4,511 $21,157 
Other Pension Plan [Member]  
Defined Benefit Plan Disclosure  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The following table presents the fair value of the plans' investments by asset category (in thousands of dollars).
 Level 1Level 2Level 3Total
Assets at December 31, 2025    
Cash and cash equivalents$11,625 $— $— $11,625 
Intermediate bonds42,326 204,129 — 246,455 
Equity Securities: Large-Cap54,168 — — 54,168 
Equity Securities: Mid-Cap106,437 — — 106,437 
Equity Securities: Small-Cap85,047 — — 85,047 
Equity Securities: Micro-Cap43,752 — — 43,752 
Equity Securities: Global and International63,998 — — 63,998 
Equity Securities: Emerging Markets3,433 — — 3,433 
Plan assets measured at NAV (not subject to hierarchy disclosure)
Commingled Fund: Equity Securities: Large-Cap52,830 
Commingled Fund: Equity Securities: Global and International146,047 
Commingled Fund: Equity Securities: Emerging Markets52,305 
Direct Lending Fund: Fixed Income8,377 
Real estate77,141 
Other Private market investments71,760 
Total$410,786 $204,129 $— $1,023,375 
Postretirement plan assets(1)
$1,224 $30,307 $— $31,531 
 Level 1Level 2Level 3Total
Assets at December 31, 2024
    
Cash and cash equivalents$24,946 $— $— $24,946 
Intermediate bonds40,177 184,528 — 224,705 
Equity Securities: Large-Cap49,848 — — 49,848 
Equity Securities: Mid-Cap103,117 — — 103,117 
Equity Securities: Small-Cap82,932 — — 82,932 
Equity Securities: Micro-Cap38,871 — — 38,871 
Equity Securities: Global and International58,767 — — 58,767 
Equity Securities: Emerging Markets6,093 — — 6,093 
Plan assets measured at NAV (not subject to hierarchy disclosure)
Commingled Fund: Equity Securities: Large-Cap54,346 
Commingled Fund: Equity Securities: Global and International124,559 
Commingled Fund: Equity Securities: Emerging Markets41,590 
Direct Lending Fund: Fixed Income5,479 
Real estate72,913 
Other Private market investments62,976 
Total$404,751 $184,528 $— $951,142 
Postretirement plan assets(1)
$3,054 $28,074 $— $31,128 
(1) The postretirement benefits assets are primarily life insurance contracts.
v3.25.4
PROPERTY, PLANT AND EQUIPMENT AND JOINTLY-OWNED PROJECTS: Property, Plant and Equipment Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Public Utility, Property, Plant and Equipment  
Schedule of Public Utility Property, Plant, and Equipment
The following table presents the major classifications of Idaho Power’s utility plant in service, annual depreciation provisions as a percent of average depreciable balance, and accumulated provision for depreciation for the years ended December 31 (in thousands of dollars):
 20252024
 BalanceAvg RateBalanceAvg Rate
Production$2,675,671 4.02 %$2,858,678 3.90 %
Transmission1,653,490 1.91 %1,534,474 1.89 %
Energy Storage(1)
509,740 5.06 %393,012 3.61 %
Distribution(1)
2,658,849 2.17 %2,465,423 2.16 %
General and Other751,356 5.27 %706,176 5.18 %
Total in service8,249,106 3.18 %7,957,763 3.06 %
Accumulated provision for depreciation(2,599,465) (2,714,706) 
In service - net$5,649,641  $5,243,057  
(1) The presentation of the major classifications of Idaho Power's utility plant in service in the table above has been modified to separately report the energy storage balance for the years ended December 31, 2025 and 2024. The prior year energy storage balance, which had previously been classified in the distribution balance, has been reclassified to conform with the current year presentation. This change reflects a shift from one acceptable presentation to another to enhance transparency.
Schedule of Jointly Owned Utility Plants
Idaho Power's ownership interest in two jointly-owned generating facilities is included in the table above. Under the joint operating agreements for these facilities, each participating utility is responsible for financing its share of construction, operating, and leasing costs. Idaho Power's proportionate share of operating expenses for each facility is included in the
Consolidated Statements of Income. These jointly-owned facilities, including balance sheet amounts and the extent of Idaho Power’s participation, were as follows at December 31, 2025 (in thousands of dollars): 
Name of PlantLocationUtility Plant in ServiceConstruction
Work in Progress		Accumulated
Provision for Depreciation		Ownership %
MW(1)(2)
Jim Bridger units 1-4Rock Springs, WY$777,096 $780 $575,151 33775
North Valmy units 1 & 2(2)
Winnemucca, NV42,113 21,118 (128)50284
(1) Idaho Power’s share of nameplate capacity.
(2) Pursuant to an agreement with NV Energy, Idaho Power ceased participation in coal-fired operations of North Valmy in December 2019 at unit 1 and December 2025 at unit 2. Idaho Power's 2025 IRP identified a preferred resource portfolio and action plan that includes the conversion of the two generating units at the North Valmy plant from coal to natural gas by mid-2026. The conversion of Unit 1 has been completed and the unit was placed in-service in December 2025, and conversion of Unit 2 is expected to be completed by mid-2026.
v3.25.4
ASSET RETIREMENT OBLIGATIONS Asset Retirement Obligations Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation [Abstract]  
Schedule of Change in Asset Retirement Obligation
The following table presents the changes in the carrying amount of AROs (in thousands of dollars): 
 20252024
Balance at January 1$51,126 $48,997 
Accretion expense2,457 1,895 
Revisions in estimated cash flows21,642 842 
Liability settled(1,249)(608)
Balance at December 31$73,976 $51,126 
v3.25.4
INVESTMENTS: Investments Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investments
The table below summarizes IDACORP’s and Idaho Power’s investments as of December 31 (in thousands of dollars): 
 20252024
Idaho Power investments:  
BCC (equity method investment)$16,833 $20,998 
Exchange traded short-term bond funds and cash equivalents37,232 38,873 
Held-to-maturity securities33,822 32,151 
Executive deferred compensation plan investments1,216 899 
Total Idaho Power investments89,103 92,921 
IFS investments in real estate tax credit projects, such as affordable housing developments50,422 54,654 
Ida-West joint ventures (equity method investments)9,529 9,666 
Other investments5,948 4,099 
Total IDACORP investments$155,002 $161,340 
Schedule of Equity in Earnings (Losses) of Equity Method Investments The table below presents IDACORP’s and Idaho Power’s earnings of unconsolidated equity-method investments (in thousands of dollars):
 202520242023
BCC (Idaho Power)$2,984 $2,671 $10,540 
Ida-West joint ventures1,938 1,868 1,886 
Total$4,922 $4,539 $12,426 
Schedule of Realized Gain (Loss) There were no gross realized gains or losses from the sale of equity securities in 2025, 2024, and 2023.
v3.25.4
DERIVATIVE FINANCIAL INSTRUMENTS: Derivative Financial Instruments Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The table below presents the gains and losses on derivatives not designated as hedging instruments for the years ended December 31 (in thousands of dollars):
Location of Realized Gain/(Loss) on Derivatives Recognized in Income
Gain/(Loss) on Derivatives Recognized in Income(1)
202520242023
Financial swapsOperating revenues$559 $5,189 $4,216 
Financial swapsPurchased power(3,967)(7,101)(8,542)
Financial swapsFuel expense(37,659)(63,380)(16,209)
Forward contractsOperating revenues917 1,885 2,280 
Forward contractsPurchased power(1,017)(3,742)(4,035)
Forward contractsFuel expense(1,457)(2,510)(866)
(1) Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below presents the fair values and locations of derivative instruments not designated as hedging instruments recorded on the balance sheets and reconciles the gross amounts of derivatives recognized as assets and as liabilities to the net amounts presented in the balance sheets (in thousands of dollars):
Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
December 31, 2025
Current:   
Financial swapsOther current liabilities2,535 (2,535)— 34,486 (29,394)(1)5,092 
Forward contractsOther current assets3 — 3 — — — 
Forward contractsOther current liabilities— — — 1,009 — 1,009 
Long-term:  
Financial swapsOther liabilities1,444 (1,444)— 7,479 (4,385)(2)3,094 
Forward contractsOther liabilities— — — 10,524 — 10,524 
Total $3,982 $(3,979)$3 $53,498 $(33,779)$19,719 
December 31, 2024
Current:   
Financial swapsOther current liabilities3,072 (3,072)— 18,092 (14,931)(3)3,161 
Forward contractsOther current liabilities— — — 1,291 — 1,291 
Long-term:   
Financial swapsOther assets1,939 (1,939)(4)— 409 (409)— 
Financial swapsOther liabilities177 (177)— 1,019 (177)842 
Forward contractsOther liabilities— — — 10,965 — 10,965 
Total $5,188 $(5,188)$— $31,776 $(15,517)$16,259 
(1) Current liability derivative amounts offset include $26.9 million of collateral receivable at December 31, 2025.
(2) Long-term liability derivative amounts offset include $2.9 million of collateral receivable at December 31, 2025.
(3) Current liability derivative amounts offset include $11.9 million of collateral receivable at December 31, 2024.
(4) Long-term asset derivative amounts offset include $1.5 million of collateral payable at December 31, 2024.
Schedule of Derivative Instruments
The table below presents the volumes of derivative commodity forward contracts and swaps outstanding at December 31 (in thousands of units):
CommodityUnits20252024
Electricity purchasesMWh200 161 
Electricity salesMWh33 16 
Natural gas purchasesMMBtu131,863 88,330 
v3.25.4
FAIR VALUE MEASUREMENTS: Fair Value Measurements Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Fair value measurements [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of December 31 (in thousands of dollars): 
20252024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$62,012 $— $— $62,012 $146,308 $— $— $146,308 
Idaho Power110,602 — — 110,602 158,999 — — 158,999 
Derivatives— 3 — 3 — — — — 
Equity securities38,448 — — 38,448 39,772 — — 39,772 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 5,948 — — — 4,099 
Liabilities:
Derivatives$8,186 $11,533 $— $19,719 $4,003 $12,256 $— $16,259 
(1) Holding company only. Does not include amounts held by Idaho Power.
Fair Value, by Balance Sheet Grouping
The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of December 31, using available market information and appropriate valuation methodologies (in thousands of dollars).
 20252024
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
IDACORP    
Assets:    
Notes receivable(1)
$1,507 $1,507 $2,155 $2,155 
Held-to-maturity securities(1)
33,822 32,468 32,151 29,428 
Liabilities:    
Long-term debt (including current portion)(1)
3,447,338 3,270,200 3,073,662 2,807,803 
Idaho Power    
Assets:
Held-to-maturity securities(1)
$33,822 $32,468 $32,151 $29,428 
Liabilities:    
Long-term debt (including current portion)(1)
3,447,338 3,270,200 3,073,662 2,807,803 
(1) Notes receivable are categorized as Level 3 and held-to-maturity securities and long-term debt are categorized as Level 2 of the fair value hierarchy, as defined earlier in this Note 17 - "Fair Value Measurements."
v3.25.4
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The table below summarizes the segment information for IDACORP’s utility operations and the total of all other segments, and reconciles this information to total enterprise amounts (in thousands of dollars):
Utility
Operations		All
Other		EliminationsConsolidated
Total
2025    
Revenues$1,809,609 $3,388 $— $1,812,997 
Depreciation and amortization251,072 — — 251,072 
Operating income355,417 (1,441)— 353,976 
Other income, net76,700 (184)— 76,516 
Interest income, including carrying charges on regulatory assets35,337 10,829 (2,971)43,195 
Equity-method income2,984 1,938 — 4,922 
Interest expense167,753 3,409 (2,971)168,191 
Income before income taxes302,685 7,733 — 310,418 
Income tax benefit(13,177)(538)— (13,715)
Net Income attributable to IDACORP, Inc.315,862 7,610 — 323,472 
Total assets10,036,896 261,518 (72,977)10,225,437 
Expenditures for long-lived assets1,178,990 337 — 1,179,327 
2024    
Revenues$1,822,965 $3,668 $— $1,826,633 
Depreciation and amortization223,410 — — 223,410 
Operating income328,183 (344)— 327,839 
Other income, net64,309 (303)— 64,006 
Interest income, including carrying charges on regulatory assets38,639 9,090 (3,244)44,485 
Equity-method income2,671 1,868 — 4,539 
Interest expense135,516 3,593 (3,244)135,865 
Income before income taxes298,286 6,718 — 305,004 
Income tax expense (benefit)17,681 (2,628)— 15,053 
Net Income attributable to IDACORP, Inc.280,605 8,569 — 289,174 
Total assets8,966,968 350,287 (77,892)9,239,363 
Expenditures for long-lived assets1,009,138 141 — 1,009,279 
2023    
Revenues$1,762,894 $3,462 $— $1,766,356 
Depreciation and amortization195,341 — — 195,341 
Operating income313,379 98 — 313,477 
Other income, net51,424 (46)— 51,378 
Interest income, including carrying charges on regulatory assets26,509 4,688 (2,832)28,365 
Equity-method income10,540 1,886 — 12,426 
Interest expense116,117 3,172 (2,832)116,457 
Income before income taxes285,736 3,453 — 289,189 
Income tax expense (benefit)28,926 (1,630)— 27,296 
Net Income attributable to IDACORP, Inc.256,810 4,385 — 261,195 
Total assets8,323,531 228,681 (76,294)8,475,918 
Expenditures for long-lived assets610,913 224 — 611,137 
v3.25.4
OTHER INCOME AND EXPENSE Other Income and Expense Level 3 (Tables)
 12 Months Ended
Dec. 31, 2025
Schedule of other nonoperating income (expense) [Line Items]  
Schedule of Other Nonoperating Income, by Component [Table Text Block]
The following table presents the components of IDACORP’s other income, net and Idaho Power's other income, net (in thousands of dollars):
IDACORP202520242023
Interest and dividend income, net$23,872 $22,577 $15,266 
Carrying charges on regulatory assets19,323 21,908 13,099 
Pension and postretirement non-service costs(5,986)(8,077)(6,513)
Income from life insurance investments13,244 10,186 8,384 
Other income6,769 8,659 6,286 
Total other income, net$57,222 $55,253 $36,522 
Idaho Power
Interest and dividend income, net$16,014 $16,731 $13,410 
Carrying charges on regulatory assets19,323 21,908 13,099 
Pension and postretirement non-service costs(5,986)(8,077)(6,513)
Income from life insurance investments13,244 10,186 8,384 
Other income6,953 8,962 6,333 
Total other income, net$49,548 $49,710 $34,713 
v3.25.4
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
 12 Months Ended
Dec. 31, 2025
Statement of Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) The table below presents changes in components of AOCI, net of tax, during the years ended December 31 (in thousands of dollars). Items in parentheses indicate reductions to AOCI.
202520242023
Defined benefit pension items
Balance at beginning of period$(13,592)$(17,184)$(12,922)
Other comprehensive income before reclassifications, net of tax of $(374), $851, and $(1,680)
(2,034)2,454 (4,848)
Amounts reclassified out of AOCI to net income, net of tax of $229, $394, and $203
682 1,138 586 
Net current-period other comprehensive income(1,352)3,592 (4,262)
Balance at end of period$(14,944)$(13,592)$(17,184)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
The table below presents the effects on net income of amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the years ended December 31 (in thousands of dollars). Items in parentheses indicate increases to net income.
Amount Reclassified from AOCI
202520242023
Amortization of defined benefit pension items(1)
Prior service cost$221 $220 $219 
Net loss690 1,312 570 
Total before tax911 1,532 789 
Tax benefit(2)
(229)(394)(203)
Net of tax682 1,138 586 
Total reclassification for the period$682 $1,138 $586 
(1) Amortization of these items is included in "Other (income) expense, net" in the consolidated income statements of both IDACORP and Idaho Power.
(2) The tax benefit is included in "Income tax expense" in the consolidated income statements of both IDACORP and Idaho Power.
v3.25.4
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Income Statement
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
 Year Ended December 31,
 202520242023
 (thousands of dollars)
Income:  
Equity in income of subsidiaries$321,927 $289,689 $262,081 
Investment income7,539 3,976 1,932 
Total income329,466 293,665 264,013 
Expenses:   
Operating expenses930 621 553 
Interest expense3,307 3,593 3,171 
Other expenses2,000 1,300 200 
Total expenses6,237 5,514 3,924 
Income Before Income Taxes323,229 288,151 260,089 
Income Tax Benefit(243)(1,023)(1,106)
Net Income Attributable to IDACORP, Inc.323,472 289,174 261,195 
Other comprehensive (loss) income(1,352)3,592 (4,262)
Comprehensive Income Attributable to IDACORP, Inc.$322,120 $292,766 $256,933 
The accompanying note is an integral part of these statements.
Condensed Cash Flow Statement
IDACORP, INC.
CONDENSED STATEMENTS OF CASH FLOWS
 Year Ended December 31,
 202520242023
 (thousands of dollars)
Operating Activities:   
Net cash provided by operating activities$215,505 $194,597 $154,190 
Investing Activities:   
Contributions to subsidiaries(195,000)(200,000)— 
Purchase of investments(2,419)(651)(1,002)
Maturities of investments385 — — 
Net cash used in investing activities(197,034)(200,651)(1,002)
Financing Activities:   
Issuance of common stock97,777 298,450 — 
Dividends on common stock(187,633)(175,615)(162,646)
Change in intercompany notes payable(7,952)11,430 (282)
Other(3,625)(4,015)(3,533)
Net cash (used in) provided by financing activities(101,433)130,250 (166,461)
Net (decrease) increase in cash and cash equivalents(82,962)124,196 (13,273)
Cash and cash equivalents at beginning of year178,094 53,898 67,171 
Cash and cash equivalents at end of year$95,132 $178,094 $53,898 
The accompanying note is an integral part of these statements.
Condensed Balance Sheet
IDACORP, INC.
CONDENSED BALANCE SHEETS
 December 31,
 20252024
Assets(thousands of dollars)
Current Assets:  
Cash and cash equivalents$95,132 $178,094 
Receivables1,923 2,646 
Income taxes receivable7,091 2,350 
Other103 107 
Total current assets104,249 183,197 
Investments3,534,519 3,210,209 
Other Assets: 
Deferred income taxes2,363 11,829 
Other381 397 
Total other assets2,744 12,226 
Total assets$3,641,512 $3,405,632 
Liabilities and Shareholders’ Equity 
Noncurrent Liabilities:
Intercompany notes payable$69,291 $74,272 
Other347 406 
Total noncurrent liabilities69,638 74,678 
IDACORP, Inc. Shareholders’ Equity3,571,874 3,330,954 
Total Liabilities and Shareholders' Equity$3,641,512 $3,405,632 
The accompanying note is an integral part of these statements.
v3.25.4
Schedule II - Consolidated Valuation and Qualifying Accounts (Tables)
 12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure
IDACORP, INC. AND IDAHO POWER COMPANY
SCHEDULE II - CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS
Years Ended December 31, 2025, 2024, and 2023
 
  Additions  
   Charged  
 Balance atCharged(Credited) Balance at
 Beginningtoto OtherEnd
Classificationof YearIncomeAccounts
Deductions(1)
of Year
 (thousands of dollars)
2025:
Reserve for uncollectible accounts$5,699 $3,009 $471 $4,754 $4,425 
Injuries and damages3,627 799 — 1,473 2,953 
2024:     
Reserve for uncollectible accounts$5,585 $4,523 $1,302 $5,711 $5,699 
Injuries and damages3,275 992 — 640 3,627 
2023:     
Reserve for uncollectible accounts$5,546 $3,527 $975 $4,463 $5,585 
Injuries and damages2,802 974 — 501 3,275 
(1) Represents deductions from the reserves for purposes for which the reserves were created. In the case of uncollectible accounts, and notes reserves, includes reversals of amounts previously reserved.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Summary of Significant Accounting Policies Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Significant Accounting Policies      
Maturity period of short-term investments 90 days    
Impairment of Receivables $ 0 $ 0  
Public Utilities, Property, Plant and Equipment, Disclosure of Composite Depreciation Rate for Plants in Service 3.20% 3.10% 2.90%
Impairment of Long-Lived Assets Held-for-use $ 0 $ 0 $ 0
Public Utilities, Allowance for Funds Used During Construction, Rate 7.20% 7.20% 7.40%
Period of Time After Which Unpaid Accounts Are Deemed Late 30 days    
Utility plant in service - net $ 5,649,641 $ 5,243,057  
Investments $ 155,002 $ 161,340  
IDAHO      
Significant Accounting Policies      
Late Payment Fee Customer Billings 1.00%    
OREGON      
Significant Accounting Policies      
Late Payment Fee Customer Billings 2.40%    
Marysville Hydro Partners      
Significant Accounting Policies      
Variable Interest Entity Ownership Percentage of Partner 50.00%    
Utility plant in service - net $ 14,200    
Ida-West Energy      
Significant Accounting Policies      
Jointly Owned Utility Plant, Proportionate Ownership Share 50.00%    
Bridger Coal Company      
Significant Accounting Policies      
IERCo guarantee of BCC reclamation obligation $ 150,200    
Investments 16,800    
Idaho Power Company      
Significant Accounting Policies      
IERCo guarantee of BCC reclamation obligation $ 50,100    
Public Utilities, Property, Plant and Equipment, Disclosure of Composite Depreciation Rate for Plants in Service 3.18% 3.06%  
Utility plant in service - net $ 5,649,641 $ 5,243,057  
Investments $ 89,103 $ 92,921  
IDACORP Financial Services Limited Partnership Interests      
Significant Accounting Policies      
Variable interest entities ownership percentage minimum 7.00%    
Variable interest entities ownership percentage maximum 100.00%    
IDACORP Financial Services Limited Partnership Interests | Variable Interest Entity, Primary Beneficiary [Member]      
Significant Accounting Policies      
Net Assets $ 50,400    
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Rollforward of the allowance for uncollectible accounts related to customer receivables (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Balance at beginning of period $ 5,071 $ 4,869
Additions to the allowance 3,004 4,523
Write-offs, net of recoveries (4,287) (4,321)
Balance at end of period $ 3,788 $ 5,071
Allowance for uncollectible accounts as a percentage of customer receivables 3.70% 4.20%
v3.25.4
INCOME TAXES: Income Tax Expense Benefit Continuing Operations Income Tax Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Income, net of adjustment for income attributable to noncontrolling interests [1] $ 309,757 $ 304,227 $ 288,491
Tax Jurisdiction of Domicile [Extensible Enumeration] UNITED STATES    
Federal income tax expense at statutory rate $ 65,049 $ 63,888 $ 60,583
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 21.00% 21.00% 21.00%
State income taxes, net of federal benefit [2] $ 12,480 $ 14,420 $ 13,675
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent [2] 4.00% 4.70% 4.70%
AFUDC $ (20,727) $ (17,015) $ (13,279)
Income Tax Reconciliation, AFUDC Percent (6.70%) (5.60%) (4.60%)
Capitalized interest $ 7,721 $ 5,493 $ 3,097
Income Tax Reconciliation, Capitalized interest percentage 2.50% 1.80% 1.10%
Removal costs $ (5,707) $ (5,109) $ (6,312)
Income Tax Reconciliation Flow-through, Removal Costs percentage (1.80%) (1.70%) (2.20%)
Capitalized overhead costs $ (2,100) $ (2,100) $ (2,100)
Income Tax Reconciliation Flow-through, Capitalized overhead costs percentage (0.70%) (0.70%) (0.70%)
Capitalized repair costs $ (24,150) $ (19,320) $ (24,360)
Income Tax Reconciliation, Capitalized overhead costs percentage (7.80%) (6.40%) (8.40%)
Income Tax Reconciliation, Depreciation $ 22,001 $ 18,705 $ 18,041
Income Tax Reconciliation Flow-through, Depreciation percentage 7.10% 6.10% 6.30%
Income Tax Reconciliation, Excess deferred income tax reversal $ (9,723) $ (10,047) $ (10,684)
Income Tax Reconciliation Flow-through, Excess deferred income tax reversal percentage (3.10%) (3.30%) (3.70%)
Income Tax Reconciliation, Income tax return adjustment $ (8,046) $ 1,844 $ (8,229)
Income Tax Reconciliation Flow-through, income tax return adj. percentage (2.60%) 0.60% (2.90%)
Income tax adjustment, Flow-through State related $ 324 $ 6,043 $ 2,127
Income tax adjustment, Flow-through State related Percentage 0.10% 2.00% 0.70%
Income Tax Reconciliation Flow-through, Other, net $ (808) $ 776 $ 1,874
Income Tax Reconciliation Flow-through, Other,net percentage (0.30%) 0.30% 0.60%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent $ (229) $ (516) $ 120
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent (0.10%) (0.20%) 0.00%
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent   1.70% 1.90%
Total income tax expense $ (13,715) $ 15,053 $ 27,296
Effective tax rate (4.40%) 4.90% 9.50%
Real estate-related investment distributions      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ (670) $ (1,611) $ (507)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent (0.20%) (0.50%) (0.20%)
Real estate-related investment amortization      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ 6,204 $ 5,203 $ 5,570
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent 2.00%    
Investment tax credits= federal      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ (7,208) $ (4,480) $ (2,344)
Effective Income Tax Rate Reconciliation, Tax Credit, Percent (2.30%) (1.50%) (0.80%)
Investment tax credits= Idaho      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ 0 $ (3,791) $ (3,107)
Effective Income Tax Rate Reconciliation, Tax Credit, Percent 0.00% (1.20%) (1.10%)
Accumulated deferred investment tax credits-federal      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ (7,017) $ (8,712) $ 0
Effective Income Tax Rate Reconciliation, Tax Credit, Percent (2.30%) (2.90%) 0.00%
Accumulated deferred investment tax credits-Idaho      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ (33,319) $ (21,119) $ 0
Effective Income Tax Rate Reconciliation, Tax Credit, Percent (10.80%) (6.90%) 0.00%
Real estate-related tax credits-federal      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ (7,790) $ (7,499) $ (6,869)
Effective Income Tax Rate Reconciliation, Tax Credit, Percent (2.50%) (2.50%) (2.40%)
Idaho Power Company      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Income, net of adjustment for income attributable to noncontrolling interests [1] $ 302,685 $ 298,286 $ 285,736
Federal income tax expense at statutory rate $ 63,564 $ 62,640 $ 60,005
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 21.00% 21.00% 21.00%
State income taxes, net of federal benefit [3] $ 12,195 $ 14,139 $ 13,544
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent [3] 4.00% 4.70% 4.70%
AFUDC $ (20,727) $ (17,015) $ (13,279)
Income Tax Reconciliation, AFUDC Percent (6.80%) (5.70%) (4.60%)
Capitalized interest $ 7,721 $ 5,493 $ 3,097
Income Tax Reconciliation, Capitalized interest percentage 2.60% 1.80% 1.10%
Removal costs $ (5,707) $ (5,109) $ (6,312)
Income Tax Reconciliation Flow-through, Removal Costs percentage (1.90%) (1.70%) (2.20%)
Capitalized overhead costs $ (2,100) $ (2,100) $ (2,100)
Income Tax Reconciliation Flow-through, Capitalized overhead costs percentage (0.70%) (0.70%) (0.70%)
Capitalized repair costs $ (24,150) $ (19,320) $ (24,360)
Income Tax Reconciliation, Capitalized overhead costs percentage (8.00%) (6.50%) (8.50%)
Income Tax Reconciliation, Depreciation $ 22,001 $ 18,705 $ 18,041
Income Tax Reconciliation Flow-through, Depreciation percentage 7.30% 6.30% 6.30%
Income Tax Reconciliation, Excess deferred income tax reversal $ (9,723) $ (10,047) $ (10,684)
Income Tax Reconciliation Flow-through, Excess deferred income tax reversal percentage (3.20%) (3.40%) (3.70%)
Income Tax Reconciliation, Income tax return adjustment $ (8,581) $ 1,794 $ (7,732)
Income Tax Reconciliation Flow-through, income tax return adj. percentage (2.80%) 0.60% (2.70%)
Income tax adjustment, Flow-through State related $ 684 $ 6,361 $ 2,537
Income tax adjustment, Flow-through State related Percentage 0.20% 2.10% 0.90%
Income Tax Reconciliation Flow-through, Other, net $ (577) $ 759 $ 1,499
Income Tax Reconciliation Flow-through, Other,net percentage (0.20%) 0.30% 0.50%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent $ (233) $ (517) $ 121
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent (0.10%) (0.20%) 0.00%
Total income tax expense $ (13,177) $ 17,681 $ 28,926
Effective tax rate (4.40%) 5.90% 10.10%
Idaho Power Company | Investment tax credits= federal      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ (7,208) $ (4,480) $ (2,344)
Effective Income Tax Rate Reconciliation, Tax Credit, Percent (2.40%) (1.50%) (0.80%)
Idaho Power Company | Investment tax credits= Idaho      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ 0 $ (3,791) $ (3,107)
Effective Income Tax Rate Reconciliation, Tax Credit, Percent 0.00% (1.30%) (1.10%)
Idaho Power Company | Accumulated deferred investment tax credits-federal      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ (7,017) $ (8,712) $ 0
Effective Income Tax Rate Reconciliation, Tax Credit, Percent (2.30%) (2.90%) 0.00%
Idaho Power Company | Accumulated deferred investment tax credits-Idaho      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount $ (33,319) $ (21,119) $ 0
Effective Income Tax Rate Reconciliation, Tax Credit, Percent (11.00%) (7.10%) 0.00%
[1] Net of adjustment for income attributable to noncontrolling interests.
[2] State taxes in Idaho made up the majority (greater than 50%) of the tax effect in this category.
[3] State taxes in Idaho made up the majority (greater than 50%) of the tax effect in this category.
v3.25.4
INCOME TAXES: Components of Income Tax Expense (Benefit), Continuing Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income taxes current:      
Federal $ 13,684 $ 19,252 $ (13,253)
State 5,754 15,750 5,634
Total 19,438 35,002 (7,619)
Income taxes deferred:      
Federal (28,931) (73,565) (18,419)
State (16,431) (15,608) (3,269)
Total (45,362) (89,173) (21,688)
Investment tax credits:      
Deferred 52,946 102,946 55,644
Restored (47,544) (38,102) (5,451)
Total 5,402 64,844 50,193
Affordable housing investments 6,807 4,380 6,410
Total income tax expense (13,715) 15,053 27,296
Idaho Power Company      
Income taxes current:      
Federal 27,816 20,447 (4,757)
State 8,128 12,674 3,627
Total 35,944 33,121 (1,130)
Income taxes deferred:      
Federal (35,697) (67,549) (19,086)
State (18,826) (12,735) (1,051)
Total (54,523) (80,284) (20,137)
Investment tax credits:      
Deferred 52,946 102,946 55,644
Restored (47,544) (38,102) (5,451)
Total 5,402 64,844 50,193
Affordable housing investments 0 0 0
Total income tax expense $ (13,177) $ 17,681 $ 28,926
v3.25.4
INCOME TAXES: Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Regulatory liabilities $ 121,489 $ 127,634
Deferred compensation 24,483 24,782
Deferred revenue 70,326 64,592
Tax credits 70,854 66,783
Partnership investments 24,157 18,450
Retirement benefits 19,533 26,495
Other 37,884 24,869
Total 368,726 353,605
Deferred tax liabilities:    
Property, plant and equipment 235,849 243,454
Regulatory assets 821,346 811,054
Partnership investments 4,309 4,613
Retirement benefits 65,214 75,716
Deferred Tax Liabilities, Regulatory Assets 22,252 16,272
Other 22,641 24,727
Total 1,171,611 1,175,836
Net deferred tax liabilities 802,885 822,231
Idaho Power Company    
Deferred tax assets:    
Regulatory liabilities 121,489 127,634
Deferred compensation 24,483 24,782
Deferred revenue 70,326 64,592
Tax credits 67,930 53,859
Partnership investments 24,157 18,450
Retirement benefits 19,533 26,495
Other 37,831 24,826
Total 365,749 340,638
Deferred tax liabilities:    
Property, plant and equipment 235,849 243,454
Regulatory assets 821,346 811,054
Partnership investments 0 0
Retirement benefits 65,214 75,716
Deferred Tax Liabilities, Regulatory Assets 22,252 16,272
Other 22,027 23,588
Total 1,166,688 1,170,084
Net deferred tax liabilities $ 800,939 $ 829,446
v3.25.4
INCOME TAXES: Supplemental Cash Flow Disclosures (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Federal, after Refund Received $ 18,000 $ 14,000 $ 0
Income Tax Paid, State and Local, after Refund Received 5,600 10,300 5,300
Income Tax Paid, Foreign, after Refund Received 892 900 900
Income taxes 24,492 25,200 6,200
Idaho Power Company      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Federal, after Refund Received 18,382 30,615 34,604
Income Tax Paid, State and Local, after Refund Received 7,522 5,598 15,765
Income Tax Paid, Foreign, after Refund Received 841 905 1,446
Income taxes $ 26,745 $ 37,118 $ 51,815
v3.25.4
INCOME TAXES: Income Taxes Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosures      
Unrecognized Tax Benefits $ 0.0 $ 0.0 $ 0.0
IDACORP | Investment Tax Credit Carryforward      
Income Tax Disclosures      
Additional ADITC amortization available for use $ 70.9    
v3.25.4
REGULATORY MATTERS: Regulatory Assets and Liabilities Table (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets $ 1,564,458 $ 1,507,372
Regulatory Liabilities 1,052,151 984,326
Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1] 505,302  
Regulatory Liabilities [1] 415,343  
Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 1,059,156  
Regulatory Liabilities 636,808  
Income taxes    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [2] 121,489 127,634
Income taxes | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[2] 0  
Income taxes | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [2] 121,489  
Depreciation-related excess deferred income taxes    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [3] 128,180 137,903
Depreciation-related excess deferred income taxes | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[3] 128,180  
Depreciation-related excess deferred income taxes | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [3] 0  
Removal costs    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [4] 162,652 166,181
Removal costs | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[4] 0  
Removal costs | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [4] 162,652  
Investment tax credits    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 235,724 230,322
Investment tax credits | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1] 0  
Investment tax credits | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 235,724  
Deferred revenue-AFUDC    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [5] 280,979 250,942
Deferred revenue-AFUDC | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[5] 224,083  
Deferred revenue-AFUDC | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [5] 56,896  
Energy efficiency regulatory liability    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 16,493 9,277
Energy efficiency regulatory liability | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1] 16,493  
Energy efficiency regulatory liability | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 0  
Power supply costs    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [6] 42,419 3,949
Power supply costs | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[6] 42,419  
Power supply costs | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [6] 0  
Tax reform accrual for future amortization    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [7] 44,423 42,266
Tax reform accrual for future amortization | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[7] 0  
Tax reform accrual for future amortization | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [7] 44,423  
Other regulatory assets (liabilities)    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 8,007 15,852
Other regulatory assets (liabilities) | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1] 4,168  
Other regulatory assets (liabilities) | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 3,839  
Unfunded postretirement benefits    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [8] 11,785 0
Unfunded postretirement benefits | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[8] 0  
Unfunded postretirement benefits | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [8] 11,785  
Income taxes    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [9] 821,346 811,054
Income taxes | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[9] 0  
Income taxes | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [9] 821,346  
Unfunded postretirement benefits    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [8] 0 18,824
Unfunded postretirement benefits | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[8] 0  
Unfunded postretirement benefits | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [8] 0  
Pension expense deferrals    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [10] 247,340 252,197
Pension expense deferrals | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[10] 245,508  
Pension expense deferrals | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [10] 1,832  
Power supply costs    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 0 18,507
Power supply costs | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[6] 0  
Power supply costs | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 0  
Fixed cost adjustment    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Asset, Net [6] 6,855 17,761
Fixed cost adjustment | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Asset, Net [1],[6] 8,205  
Fixed cost adjustment | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Asset, Net [6] (1,350)  
Valmy Plant settlements    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 83,941 80,767
Valmy Plant settlements | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[6] 83,941  
Valmy Plant settlements | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 0  
Jim Bridger Plant    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 164,660 147,451
Jim Bridger Plant | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[6] 151,739  
Jim Bridger Plant | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 12,921  
Wildfire Mitigation Plan Deferral    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 91,670 63,966
Wildfire Mitigation Plan Deferral | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[6] 0  
Wildfire Mitigation Plan Deferral | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 91,670  
Asset retirement obligation    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [4] 62,166 37,842
Asset retirement obligation | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[4] 0  
Asset retirement obligation | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [4] 62,166  
Long-term service agreement    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 18,639 19,796
Long-term service agreement | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1] 11,313  
Long-term service agreement | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 7,326  
Other regulatory assets (liabilities)    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 18,321 11,089
Other regulatory assets (liabilities) | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1] 4,596  
Other regulatory assets (liabilities) | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 13,725  
Mark to Market liabilities    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [11] 49,520 $ 28,118
Mark to Market liabilities | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[11] 0  
Mark to Market liabilities | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [11] $ 49,520  
[1] Earning a return includes either interest or a return on the investment as a component of rate base at the allowed rate of return. The interest rate on deferral accounts is published annually by the IPUC and OPUC. The applicable rates for 2025 were 5.0% and 4.5%, respectively.
[2] Represents the tax gross-up related to the depreciation-related excess deferred income taxes and investment tax credits included in this table and has a corresponding deferred tax asset disclosed in Note 2 - "Income Taxes."
[3] For depreciation-related temporary differences under the normalized tax accounting method, the resulting excess deferred taxes will flow back to customers ratably over the remaining regulatory lives of Idaho Power's plant assets under the alternative method provided in the statute.
[4] Asset retirement obligations and removal costs are discussed in Note 14 - "Asset Retirement Obligations (ARO)."
[5] Idaho Power is collecting revenue in the Idaho jurisdiction for AFUDC on HCC relicensing costs but is deferring revenue recognition of the amounts collected until the license is issued and the asset is placed in service under the new license.
[6] This item is discussed in more detail in this Note 3 - "Regulatory Matters."
[7] Represents amount accrued under the May 2018 Idaho tax reform settlement stipulation (described below) for the future amortization of existing or future unspecified regulatory deferrals that would otherwise be a future liability recoverable from Idaho customers.
[8] Represents the unfunded obligation of Idaho Power’s pension and postretirement benefit plans, which are discussed in Note 12 - "Benefit Plans."
[9] Represents flow-through income tax accounting differences which have a corresponding deferred tax liability disclosed in Note 2 - "Income Taxes."
[10] Idaho Power records a regulatory asset for the difference between net periodic pension cost and pension cost considered for rate-making purposes relating to Idaho Power's defined benefit pension plan. In its Idaho jurisdiction, Idaho Power’s inclusion of pension costs for the establishment of retail rates is based upon contributions made to the pension plan. This regulatory asset account represents the difference between cumulative cash contributions and amounts collected in rates. Deferred costs are amortized into expense as the amounts are provided for in Idaho retail revenues.
[11] This item is discussed in more detail in Note 16 - "Derivative Financial Instruments."
v3.25.4
REGULATORY MATTERS: Idaho Jurisdiction Power Cost Adjustment Mechanism (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2026
May 31, 2026
May 31, 2025
May 31, 2024
Dec. 31, 2025
Jun. 01, 2025
Dec. 31, 2024
Jun. 01, 2024
Jun. 01, 2023
Idaho Power Cost Adjustment Mechanism [Line Items]                  
Regulatory Liabilities         $ 1,052,151   $ 984,326    
Regulatory Assets         1,564,458   1,507,372    
Power supply costs                  
Idaho Power Cost Adjustment Mechanism [Line Items]                  
Regulatory Assets [1]         $ 0   $ 18,507    
Idaho Power Cost Adjustment [Member]                  
Idaho Power Cost Adjustment Mechanism [Line Items]                  
Percentage to be Shared with Customers           95.00%      
Percentage to be Shared with Entity           5.00%      
Approved Rate Increase (Decrease), Amount     $ (35,700) $ 105,100          
Idaho Power Cost Adjustment [Member] | Subsequent Event                  
Idaho Power Cost Adjustment Mechanism [Line Items]                  
Approved Rate Increase (Decrease), Amount   $ (94,800)              
Oregon jurisdiction                  
Idaho Power Cost Adjustment Mechanism [Line Items]                  
Annual Power Cost Update           $ (1,800)   $ (6,900) $ 7,700
IDAHO | Idaho PCA includes power supply and deferral balance. | Subsequent Event                  
Idaho Power Cost Adjustment Mechanism [Line Items]                  
Approved Rate Increase (Decrease), Amount $ 468,800                
OREGON | Subsequent Event                  
Idaho Power Cost Adjustment Mechanism [Line Items]                  
Approved Rate Increase (Decrease), Amount $ (600)                
[1] This item is discussed in more detail in this Note 3 - "Regulatory Matters."
v3.25.4
REGULATORY MATTERS: Idaho Base Rate Changes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Oct. 15, 2024
Dec. 31, 2026
Sep. 30, 2026
Dec. 31, 2025
Oct. 15, 2025
Dec. 31, 2024
Dec. 31, 2023
Jan. 01, 2026
Jan. 01, 2024
Idaho Base Rate Changes [Line Items]                  
Regulatory Assets       $ 1,564,458   $ 1,507,372      
Wildfire Mitigation Plan Deferral                  
Idaho Base Rate Changes [Line Items]                  
Regulatory Assets [1]       91,670   63,966      
2023 Rate Case | Benefit Obligations [Member]                  
Idaho Base Rate Changes [Line Items]                  
Public Utilities, Requested Rate Increase (Decrease), Amount           18,000      
Settlement Stipulation - Investment Tax Credits and Idaho Sharing Mechanism                  
Idaho Base Rate Changes [Line Items]                  
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Amount       40,300          
Settlement Stipulation - Investment Tax Credits and Idaho Sharing Mechanism | ADITC                  
Idaho Base Rate Changes [Line Items]                  
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Amount       167,800          
2025 Rate Case | Idaho Power Cost Adjustment [Member] | Subsequent Event                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Amount   $ 13,100              
IDAHO | 2024 Limited Rate Case                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Amount       50,600          
IDAHO | 2023 Rate Case | Idaho Power Company                  
Idaho Base Rate Changes [Line Items]                  
Public Utilities, Requested Rate Increase (Decrease), Amount           3,500      
IDAHO | Wildfire Mitigation Plan Deferral                  
Idaho Base Rate Changes [Line Items]                  
Regulatory Assets       $ 88,200          
IDAHO | Hells Canyon Complex | Subsequent Event                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Amount     $ 29,700            
IDAHO | May 2018 Tax Reform Settlement Stipulation                  
Idaho Base Rate Changes [Line Items]                  
Amortization of Regulatory Asset             $ 7,400    
IDAHO | May 2018 Tax Reform Settlement Stipulation | Annual recurring                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Amount             $ 18,700    
IDAHO | 2023 Rate Case                  
Idaho Base Rate Changes [Line Items]                  
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount           $ 54,700      
Authorized Return on Equity in Rate Case, Minimum                 9.12%
Authorized Return on Equity in Rate Case, Mid-point                 9.60%
Approved Return on Equity, Percentage           9.60%      
Approved Authorized Rate of Return           7.247%      
IDAHO | 2023 Rate Case | Idaho Power Cost Adjustment [Member]                  
Idaho Base Rate Changes [Line Items]                  
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount           $ 168,300      
IDAHO | Idaho PCA includes power supply and deferral balance.                  
Idaho Base Rate Changes [Line Items]                  
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount           $ 484,900      
IDAHO | Idaho PCA includes power supply and deferral balance. | Subsequent Event                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Amount   $ 468,800              
IDAHO | 2024 Limited Rate Case                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Percentage       3.70%          
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount       $ 50,100          
IDAHO | 2025 Rate Case                  
Idaho Base Rate Changes [Line Items]                  
Percentage to be Shared with Customers       80.00%          
Percentage to be Shared with Entity       20.00%          
IDAHO | 2025 Rate Case | Subsequent Event                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Percentage   7.48%              
Authorized Return on Equity in Rate Case, Minimum               9.12%  
Approved Rate Increase (Decrease), Amount   $ 110,000              
Approved Return on Equity, Percentage   9.60%              
Approved Authorized Rate of Return   7.41%              
IDAHO | 2025 Rate Case | Idaho Power Cost Adjustment [Member] | Subsequent Event                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Amount   $ (16,100)              
IDAHO | 2025 Rate Case | Wildfire Mitigation Plan Deferral                  
Idaho Base Rate Changes [Line Items]                  
Regulatory Assets       $ 73,900          
OREGON | Subsequent Event                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Percentage   0.90%              
Approved Rate Increase (Decrease), Amount   $ (600)              
OREGON | Wildfire mitigation plan costs | Subsequent Event                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Amount   700              
OREGON | Wildfire Mitigation Plan Deferral                  
Idaho Base Rate Changes [Line Items]                  
Regulatory Assets       $ 3,500          
OREGON | Valmy Plant | Subsequent Event                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Amount   $ (1,200)              
OREGON | 2023 Rate Case                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate Increase (Decrease), Percentage         12.14%        
Approved Rate Increase (Decrease), Amount         $ 6,700        
Approved Return on Equity, Percentage 9.50%                
OREGON | 2023 Rate Case | Cost of Capital and Capital Structure                  
Idaho Base Rate Changes [Line Items]                  
Authorized Rate of Return in Rate Case 7.302%                
Total Retail Rate Base $ 188,900                
OREGON | 2023 Rate Case | Cost of Debt Capital Structure [Domain]                  
Idaho Base Rate Changes [Line Items]                  
Approved Rate of Return 5.104%                
[1] This item is discussed in more detail in this Note 3 - "Regulatory Matters."
v3.25.4
REGULATORY MATTERS: Idaho Fixed Cost Adjustment (Details) - USD ($)
$ in Thousands
 12 Months Ended
May 31, 2026
Jun. 01, 2025
Jun. 01, 2024
Jun. 01, 2023
Idaho Fixed Cost Adjustment [Line Items]        
Annual fixed cost adjustment mechanism deferral   $ (3,100) $ 36,800 $ 25,100
Subsequent Event | Idaho Jurisdiction Fixed Cost Adjustment        
Idaho Fixed Cost Adjustment [Line Items]        
Approved Rate Increase (Decrease), Amount $ (39,800)      
Idaho Fixed Cost Adjustment [Member]        
Idaho Fixed Cost Adjustment [Line Items]        
Percentage cap on the FCA adjustment     3.00%  
v3.25.4
REGULATORY MATTERS: Oregon Base Rate Changes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Oct. 15, 2024
Dec. 31, 2026
Oct. 15, 2025
Dec. 31, 2024
Dec. 31, 2025
Jun. 01, 2025
Jun. 01, 2024
Jun. 01, 2023
Oregon Base Rate Changes [Line Items]                
Regulatory Assets       $ 1,507,372 $ 1,564,458      
Power supply costs                
Oregon Base Rate Changes [Line Items]                
Regulatory Assets [1]       $ 18,507 0      
Oregon jurisdiction                
Oregon Base Rate Changes [Line Items]                
Annual Power Cost Update           $ (1,800) $ (6,900) $ 7,700
OREGON | Wildfire Mitigation Plan Deferral                
Oregon Base Rate Changes [Line Items]                
Regulatory Assets         3,500      
OREGON | Subsequent Event                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount   $ (600)            
Approved Rate Increase (Decrease), Percentage   0.90%            
OREGON | Subsequent Event | Valmy Plant                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount   $ (1,200)            
OREGON | Subsequent Event | Boardman Plant                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount   (100)            
OREGON | Subsequent Event | Wildfire mitigation plan costs                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount   700            
OREGON | 2023 Rate Case                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount     $ 6,700          
Approved Return on Equity, Percentage 9.50%              
Approved Rate Increase (Decrease), Percentage     12.14%          
OREGON | 2023 Rate Case | Cost of Capital and Capital Structure                
Oregon Base Rate Changes [Line Items]                
Authorized Rate of Return in Rate Case 7.302%              
Total Retail Rate Base $ 188,900              
OREGON | 2023 Rate Case | Cost of Debt Capital Structure [Domain]                
Oregon Base Rate Changes [Line Items]                
Approved Rate of Return 5.104%              
IDAHO | Wildfire Mitigation Plan Deferral                
Oregon Base Rate Changes [Line Items]                
Regulatory Assets         88,200      
IDAHO | 2023 Rate Case                
Oregon Base Rate Changes [Line Items]                
Approved Return on Equity, Percentage       9.60%        
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount       $ (54,700)        
Public Utilities, Requested Rate Increase (Decrease), Amended, Percentage       4.25%        
IDAHO | 2025 Rate Case | Wildfire Mitigation Plan Deferral                
Oregon Base Rate Changes [Line Items]                
Regulatory Assets         73,900      
IDAHO | 2025 Rate Case | Subsequent Event                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount   $ 110,000            
Approved Return on Equity, Percentage   9.60%            
Approved Rate Increase (Decrease), Percentage   7.48%            
IDAHO | Wildfire mitigation plan costs | Wildfire Mitigation Plan Deferral                
Oregon Base Rate Changes [Line Items]                
Regulatory Assets         $ 700      
[1] This item is discussed in more detail in this Note 3 - "Regulatory Matters."
v3.25.4
REGULATORY MATTERS: Open Access Transmission Tariff Rates (Details) - Federal Open Access Transmission Tariff Rates - USD ($)
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Open Access Transmission Tariff Rates [Line Items]        
Open Access Transmission Tariff Rate $ 34.16 $ 31.55 $ 30.74 $ 31.42
Net Annual Transmission Revenue Requirement $ 148,500,000      
v3.25.4
REVENUES: Electric utility operating revenues (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues [Abstract]      
Revenue from contracts with customers $ 1,746,972 $ 1,768,881 $ 1,639,612
Alternative revenue programs and other revenues 62,637 54,084 123,282
Electric utility revenues $ 1,809,609 $ 1,822,965 $ 1,762,894
v3.25.4
REVENUES: Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Oct. 01, 2025
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 1,746,972 $ 1,768,881 $ 1,639,612  
Regulatory Liabilities (1,052,151) (984,326)    
Regulatory Assets 1,564,458 1,507,372    
Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,556,358 1,552,780 1,472,666  
Idaho Fixed Cost Adjustment [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] (3,896) 2,856 (38,571)  
Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 35,810 32,583 29,791  
Wholesale energy sales        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 55,989 73,908 63,421  
Transmission services (wheeling)        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 72,231 79,173 80,357  
Energy efficiency program revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 30,480 27,581 31,948  
Residential Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] 708,126 700,586 684,649  
Residential Retail Revenue | Idaho Fixed Cost Adjustment [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] 3,972 (2,686) 37,233  
Commercial Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] 394,313 397,385 378,330  
Commercial Retail Revenue | Idaho Fixed Cost Adjustment [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] (76) (170) 1,338  
Industrial Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 270,571 267,211 244,538  
Irrigation Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 198,468 196,401 173,929  
Deferred revenue-AFUDC | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [2] (15,120) (8,803) $ (8,780)  
IPUC authorized AFUDC Collection HCC Relicensing - Gross | Idaho Power Company | Hells Canyon Complex        
Disaggregation of Revenue [Line Items]        
Regulatory Liabilities   $ (8,800)   $ (38,500)
Energy efficiency regulatory asset | IDAHO        
Disaggregation of Revenue [Line Items]        
Regulatory Liabilities (13,400)      
Energy efficiency regulatory asset | OREGON        
Disaggregation of Revenue [Line Items]        
Regulatory Liabilities $ (3,100)      
[1] The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
[2] The IPUC allows Idaho Power to recover a portion of the AFUDC on construction work in progress related to the HCC relicensing process in its Idaho jurisdiction, even though the relicensing process is not yet complete and the costs have not been moved to utility plant in service. Effective October 1, 2025, Idaho Power began collecting $38.5 million annually. Prior to October 1, 2025, Idaho Power collected $8.8 million annually. For more information refer to Note 3 - "Regulatory Matters." Amounts collected in the Idaho jurisdiction are recognized as deferred revenue until the license is issued and the accumulated license costs approved for recovery are placed in service.
v3.25.4
REVENUES: Alternative Revenue Program and Other Revenues (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Alternative Revenue Program and Other Revenues [Line Items]      
Regulated Operating Revenue (Expense), Other, Net $ 62,637 $ 54,084 $ 123,282
Idaho Fixed Cost Adjustment [Member]      
Alternative Revenue Program and Other Revenues [Line Items]      
Regulated Operating Revenue (Expense), Other, Net 3,896 (2,856) 38,571
Derivative revenues      
Alternative Revenue Program and Other Revenues [Line Items]      
Regulated Operating Revenue (Expense), Other, Net $ 58,741 $ 56,940 $ 84,711
v3.25.4
REVENUES: Revenues Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]      
Revenue from contracts with customers $ 1,746,972 $ 1,768,881 $ 1,639,612
Regulatory Liabilities $ 1,052,151 $ 984,326  
v3.25.4
LONG-TERM DEBT: Long-term Debt Level 4 (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Total first mortgage bonds $ 3,345,000 $ 2,945,000
Total pollution control revenue bonds 116,300 116,300
American Falls bond guarantee 0 19,885
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net (13,962) (7,523)
Debt, Long-Term and Short-Term, Combined Amount [1] 3,447,338 3,073,662
Current maturities of long-term debt (116,300) (19,885)
Long-Term Debt $ 3,331,038 $ 3,053,777
Idaho Power Company    
Debt Instrument [Line Items]    
Effective cost of outstanding debt 5.13% 5.03%
First Mortgage Bonds 1.90 Series L Due July 15 2030    
Debt Instrument [Line Items]    
First mortgage bonds $ 80,000 $ 80,000
Debt Instrument, Interest Rate, Stated Percentage 1.90% 1.90%
First mortgage bonds 6.00 Series due 2032    
Debt Instrument [Line Items]    
First mortgage bonds $ 100,000 $ 100,000
Debt Instrument, Interest Rate, Stated Percentage 6.00% 6.00%
First Mortgage Bonds 4.99 Series Due 2032    
Debt Instrument [Line Items]    
First mortgage bonds $ 23,000 $ 23,000
Debt Instrument, Interest Rate, Stated Percentage 4.99% 4.99%
First mortgage bonds 5.50 Series due 2033    
Debt Instrument [Line Items]    
First mortgage bonds $ 70,000 $ 70,000
Debt Instrument, Interest Rate, Stated Percentage 5.50% 5.50%
First mortgage bonds 5.50 Series due 2034    
Debt Instrument [Line Items]    
First mortgage bonds $ 50,000 $ 50,000
Debt Instrument, Interest Rate, Stated Percentage 5.50% 5.50%
First mortgage bonds 5.875 Series due 2034    
Debt Instrument [Line Items]    
First mortgage bonds $ 55,000 $ 55,000
Debt Instrument, Interest Rate, Stated Percentage 5.875% 5.875%
First Mortgage Bonds 5.20 Series M Due 2034    
Debt Instrument [Line Items]    
First mortgage bonds $ 300,000 $ 300,000
Debt Instrument, Interest Rate, Stated Percentage 5.20% 5.20%
First mortgage bonds 5.30 Series due 2035    
Debt Instrument [Line Items]    
First mortgage bonds $ 60,000 $ 60,000
Debt Instrument, Interest Rate, Stated Percentage 5.30% 5.30%
First mortgage bonds 6.30 Series due 2037    
Debt Instrument [Line Items]    
First mortgage bonds $ 140,000 $ 140,000
Debt Instrument, Interest Rate, Stated Percentage 6.30% 6.30%
First mortgage bonds 6.25 Series due 2037    
Debt Instrument [Line Items]    
First mortgage bonds $ 100,000 $ 100,000
Debt Instrument, Interest Rate, Stated Percentage 6.25% 6.25%
First mortgage bonds 4.85 Series due 2040    
Debt Instrument [Line Items]    
First mortgage bonds $ 100,000 $ 100,000
Debt Instrument, Interest Rate, Stated Percentage 4.85% 4.85%
First Mortgage Bonds 4.30 Series Due 2042    
Debt Instrument [Line Items]    
First mortgage bonds $ 75,000 $ 75,000
Debt Instrument, Interest Rate, Stated Percentage 4.30% 4.30%
First Mortgage Bonds 5.06 Series Due 2042    
Debt Instrument [Line Items]    
First mortgage bonds $ 25,000 $ 25,000
Debt Instrument, Interest Rate, Stated Percentage 5.06% 5.06%
First Mortgage Bonds 5.06 Series Due 2043    
Debt Instrument [Line Items]    
First mortgage bonds $ 60,000 $ 60,000
Debt Instrument, Interest Rate, Stated Percentage 5.06% 5.06%
First Mortgage Bonds 4.00 Series due 2043    
Debt Instrument [Line Items]    
First mortgage bonds $ 75,000 $ 75,000
Debt Instrument, Interest Rate, Stated Percentage 4.00% 4.00%
First mortgage bonds 3.65% Series due 2045    
Debt Instrument [Line Items]    
First mortgage bonds $ 250,000 $ 250,000
Debt Instrument, Interest Rate, Stated Percentage 3.65% 3.65%
First mortgage bonds 4.05 Series due 2046    
Debt Instrument [Line Items]    
First mortgage bonds $ 120,000 $ 120,000
Debt Instrument, Interest Rate, Stated Percentage 4.05% 4.05%
First Mortgage Bonds 4.20 K Series due 2048    
Debt Instrument [Line Items]    
First mortgage bonds $ 450,000 $ 450,000
Debt Instrument, Interest Rate, Stated Percentage 4.20% 4.20%
First Mortgage Bonds 5.20 Series Due 2053    
Debt Instrument [Line Items]    
First mortgage bonds $ 62,000 $ 62,000
Debt Instrument, Interest Rate, Stated Percentage 5.20% 5.20%
First Mortgage Bonds 5.5% Series K Due 2053 [Member]    
Debt Instrument [Line Items]    
First mortgage bonds $ 400,000 $ 400,000
Debt Instrument, Interest Rate, Stated Percentage 5.50% 5.50%
First Mortgage Bonds 5.8% Series K Due 2054    
Debt Instrument [Line Items]    
First mortgage bonds $ 350,000 $ 350,000
Debt Instrument, Interest Rate, Stated Percentage 5.80% 5.80%
First Mortgage Bonds 5.7% Series K Due 2055    
Debt Instrument [Line Items]    
First mortgage bonds $ 400,000 $ 0
Debt Instrument, Interest Rate, Stated Percentage 5.70% 5.70%
Pollution Control Bond 1.70 due 2026    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 1.70% 1.70%
Pollution control revenue bonds 5.25 Series due 2026 [2] $ 116,300 $ 116,300
Secured debt including Humboldt County and Sweetwater County pollution control revenue bonds    
Debt Instrument [Line Items]    
Total first mortgage bonds $ 3,461,000  
[1] At December 31, 2025 and 2024, the overall effective cost rate of Idaho Power's outstanding debt was 5.13 percent and 5.03 percent, respectively.
[2] Sweetwater County Pollution Control Revenue Bonds are secured by the first mortgage bonds, bringing the total first mortgage bonds outstanding at December 31, 2025, to $3.461 billion
v3.25.4
LONG-TERM DEBT: Maturities of Long-term Debt Level 4 (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Maturities of Long-Term Debt [Abstract]  
2026 $ 116,300
2027 0
2028 0
2029 0
2030 80,000
Thereafter $ 3,265,000
v3.25.4
LONG-TERM DEBT: Long-term debt narrative Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Mar. 13, 2025
Feb. 03, 2025
Dec. 31, 2024
Dec. 02, 2024
Aug. 12, 2024
Oct. 14, 2022
First Mortgage Bonds 5.7% Series K Due 2055              
Debt Instrument [Line Items]              
First mortgage bonds $ 400,000     $ 0      
Debt Instrument, Interest Rate, Stated Percentage 5.70%     5.70%      
First Mortgage Bonds 5.7% Series K Due 2055 | First Mortgage              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount   $ 400,000          
Debt Instrument, Interest Rate, Stated Percentage   5.70%          
Variable Rate American Falls [Domain] | Unsecured Debt              
Debt Instrument [Line Items]              
Debt Instrument, Repurchased Face Amount     $ 19,900        
Humboldt County pollution control revenue bonds | Pollution Control Bonds 5.15 due 2024 [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Repurchased Face Amount         $ 49,800    
Debt Instrument, Interest Rate, Stated Percentage         1.45%    
First mortgage bonds 5.20 Series due 2034 | First Mortgage              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount           $ 300,000  
Debt Instrument, Interest Rate, Stated Percentage           5.20%  
Idaho Power Company              
Debt Instrument [Line Items]              
Principal amount of debt securities and first mortgage bonds authorized $ 1,200,000            
Debt instrument interest rate limit 8.00%            
Indenture, Unused Borrowing Capacity, Amount $ 2,000,000            
Debt Instrument, Unused Borrowing Capacity, Amount $ 2,300,000            
Earnings test does not apply to refunding bonds that mature in less than this period of time 2 years            
Percent of Operating Revenues Required to be Spent or Appropriated 15.00%            
Time Period Expenditures or Appropriations can be Made Up 5 years            
Idaho Power Company | Public Utility Commisions - Idaho, Oregon, and Washington              
Debt Instrument [Line Items]              
Indenture, Unused Borrowing Capacity, Amount $ 500,000            
Idaho Power Company | Principal amount of debt securities in Selling Agreement              
Debt Instrument [Line Items]              
Principal amount of debt securities in Selling Agreement $ 2,100,000            
Debt Instrument, Unused Borrowing Capacity, Amount             $ 5,500,000
v3.25.4
COMMON STOCK: Common Stock, Number of Shares, Par Value and Other Disclosures (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class of Stock [Line Items]      
Common Stock, Shares, Issued 53,962,300 50,615,237 50,561,892
Common Stock, Shares, Issued 54,859,131 53,962,300 50,615,237
2000 Long-Term Incentive and Compensation Plan      
Class of Stock [Line Items]      
Shares issued during the year 45,348 61,997 53,345
Shares granted (in shares) 82,344 103,771 75,295
Directors | 2000 Long-Term Incentive and Compensation Plan      
Class of Stock [Line Items]      
Shares granted (in shares) 11,268 15,616 12,459
Shares issued (in shares) 9,273 10,571 13,842
Continuous equity program (inactive)      
Class of Stock [Line Items]      
Shares issued during the year 0 0 0
Shares reserved for future issuance 3,000,000    
Dividend reinvestment and stock purchase plan      
Class of Stock [Line Items]      
Shares issued during the year 49,569 63,084 0
Shares reserved for future issuance 2,729,049    
Employee savings plan      
Class of Stock [Line Items]      
Shares issued during the year 0 0 0
Shares reserved for future issuance 3,567,954    
2000 Long-term incentive and compensation plan      
Class of Stock [Line Items]      
Shares issued during the year [1] 45,348 61,997 53,345
Shares reserved for future issuance 2,154,164    
Forward Contracts      
Class of Stock [Line Items]      
Shares issued during the year 0 3,221,982 0
Shares reserved for future issuance 5,180,180    
At-the-Market Offering Program      
Class of Stock [Line Items]      
Shares issued during the year [2] 801,914 0 0
At-the-Market Offering Program, Maximum Value Of Shares To Be Issued $ 300,000    
Common Stock, Capital Shares Reserved For Future Issuance $ 155,500    
[1] During 2025, 2024, and 2023, IDACORP granted 82,344, 103,771, and 75,295 restricted stock unit awards, respectively, to employees and 11,268, 15,616, and 12,459 shares of common stock, respectively, to directors. During 2025, 2024, and 2023, IDACORP issued 45,348, 61,997, and 53,345 shares of common stock, respectively, using original issuances of shares pursuant to the LTICP, including 9,273, 10,571, and 13,842 shares of common stock, respectively, issued to members of the board of directors.
[2] During 2024, IDACORP reserved shares of its common stock through the ATM offering program, up to an aggregate gross sales price of $300 million. At December 31, 2025, $155.5 million in shares of IDACORP’s common stock remained reserved. For more details, see "At-the-Market Offering Program" below in this Note 6.
v3.25.4
COMMON STOCK: Common Stock Narrative (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
At-the-Market Offering Program      
Class of Stock [Line Items]      
At-the-Market Offering Program, Maximum Value Of Shares To Be Issued $ 300,000    
Common Stock, Capital Shares Reserved For Future Issuance $ 155,500    
Registered Public Offering, Initial Common Shares Offered | shares 452,256 801,914  
Registered Public Offering, Executed Amount $ 52,200 $ 92,400  
Registered Public Offering, Commission and Fees Amount $ 700 $ 1,200  
Common Shares To Deliver To Settle Forward Sales Agreement, Gross | shares 452,256    
Cash To Be Received On Settlement Of Forward Sale Agreement $ 51,759    
Cash To Deliver To Settle Forward Sales Agreement, Net $ 7,200    
Registered Public Offering, Price Per Share | $ / shares $ 114.45    
Common Shares Delivered To Settle Forward Sales Agreement, Gross | shares 801,914    
Cash Received On Settlement Of Forward Sale Agreement [1] $ 91,717    
Forward Sale Price, Per Share, Settled | $ / shares $ 114.37    
Common Shares To Deliver To Settle Forward Sales Agreement, Net | shares 54,968    
ATM Forward Sale Agreements Maturity 3/31/26 1      
Class of Stock [Line Items]      
Common Shares To Deliver To Settle Forward Sales Agreement, Gross | shares 198,086    
Cash To Be Received On Settlement Of Forward Sale Agreement $ 22,789    
Registered Public Offering, Price Per Share | $ / shares $ 115.05    
ATM Forward Sale Agreements Maturity 3/31/26 2      
Class of Stock [Line Items]      
Common Shares To Deliver To Settle Forward Sales Agreement, Gross | shares 254,170    
Cash To Be Received On Settlement Of Forward Sale Agreement $ 28,970    
Registered Public Offering, Price Per Share | $ / shares $ 113.98    
ATM Forward Sale Agreements Maturity 11/12/25      
Class of Stock [Line Items]      
Common Shares Delivered To Settle Forward Sales Agreement, Gross | shares 500,000    
Cash Received On Settlement Of Forward Sale Agreement [1] $ 56,924    
Forward Sale Price, Per Share, Settled | $ / shares $ 113.85    
ATM Forward Sale Agreements Maturity 12/31/25      
Class of Stock [Line Items]      
Common Shares Delivered To Settle Forward Sales Agreement, Gross | shares 301,914    
Cash Received On Settlement Of Forward Sale Agreement [1] $ 34,793    
Forward Sale Price, Per Share, Settled | $ / shares $ 115.24    
Forward Sale Agreements (2025 Series)      
Class of Stock [Line Items]      
Registered Public Offering, Initial Common Shares Offered | shares 4,504,505    
Registered Public Offering, Executed Amount $ 500,000    
Common Shares To Deliver To Settle Forward Sales Agreement, Gross | shares 5,180,180    
Cash To Be Received On Settlement Of Forward Sale Agreement $ 560,900    
Cash To Deliver To Settle Forward Sales Agreement, Net $ 113,800    
Registered Public Offering, Price Per Share | $ / shares $ 111.00    
Common Shares To Deliver To Settle Forward Sales Agreement, Net | shares 874,426    
Registered Public Offering, Initial Common Shares Offered, Greenshoe | shares 675,675    
Registered Public Offering, Issuance Amount, Greenshoe $ 75,000    
Registered Public Offering, Initial Common Shares Offered, Total | shares 5,180,180    
Initial Forward Sale Price, Per Share | $ / shares $ 107.67    
Forward Sale Agreements (2023 Series)      
Class of Stock [Line Items]      
Registered Public Offering, Initial Common Shares Offered | shares     2,801,724
Registered Public Offering, Executed Amount     $ 260,000
Registered Public Offering, Price Per Share | $ / shares     $ 92.80
Registered Public Offering, Initial Common Shares Offered, Greenshoe | shares     420,258
Registered Public Offering, Issuance Amount, Greenshoe     $ 39,000
Registered Public Offering, Initial Common Shares Offered, Total | shares     3,221,982
Initial Forward Sale Price, Per Share | $ / shares     $ 90.016
Registered Public Offering, Common Shares Settled | shares   2,542,442  
Registered Public Offering, Settled Amount   $ 230,000  
Registered Public Offering, Common Shares Settled, Final | shares   679,540  
Registered Public Offering, Settled Amount, Final   $ 62,200  
IDACORP      
Class of Stock [Line Items]      
Maximum leverage ratio requirement 0.65    
Leverage ratio 0.52    
Amount dividends were limited to based on covenant restrictions $ 1,500,000    
Incremental CommonShares Attributable To Share Based Payment Arrangements, Forward Sale Agreement | shares 490,000 47,000 34,000
Idaho Power Company      
Class of Stock [Line Items]      
Proceeds from Contributed Capital $ 195,000 $ 200,000  
Amount dividends were limited to based on covenant restrictions $ 1,300,000    
Percentage of capital threshold below which Idaho Power will not pay dividends to IDACORP 0.35    
Equity Capital Ratio 0.48    
Shares of preferred stock outstanding | shares 0    
[1] Settlement of the FSAs are reflected in IDACORP’s equity.
v3.25.4
SHARE-BASED COMPENSATION Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity (Details) - 2000 Long-Term Incentive and Compensation Plan
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
IDACORP  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]  
Nonvested shares, beginning (in shares) | shares 234,809
Shares granted (in shares) | shares 82,344
Shares forfeited (in shares) | shares (3,504)
Shares vested (in shares) | shares (65,727)
Nonvested shares, ending (in shares) | shares 247,922
Nonvested shares, period start - weighted average grant-date fair value (in dollars per share) | $ / shares $ 94.73
Shares granted - weighted average grant-date fair value (in dollars per share) | $ / shares 107.76
Shares forfeited - weighted average grant-date fair value (in dollars per share) | $ / shares 94.87
Shares vested - weighted average grant-date fair value (in dollars per share) | $ / shares 102.52
Nonvested shares, period end - weighted average grant-date fair value (in dollars per share) | $ / shares $ 96.99
Idaho Power Company  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]  
Nonvested shares, beginning (in shares) | shares 233,577
Shares granted (in shares) | shares 81,973
Shares forfeited (in shares) | shares (2,962)
Shares vested (in shares) | shares (65,116)
Nonvested shares, ending (in shares) | shares 247,472
Nonvested shares, period start - weighted average grant-date fair value (in dollars per share) | $ / shares $ 94.73
Shares granted - weighted average grant-date fair value (in dollars per share) | $ / shares 107.76
Shares forfeited - weighted average grant-date fair value (in dollars per share) | $ / shares 94.28
Shares vested - weighted average grant-date fair value (in dollars per share) | $ / shares 102.53
Nonvested shares, period end - weighted average grant-date fair value (in dollars per share) | $ / shares $ 97.00
v3.25.4
SHARE-BASED COMPENSATION Schedule of Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
IDACORP      
Share-based Compensation Arrangement by Share-based Payment Award      
Compensation cost $ 12,505 $ 11,708 $ 9,578
Income tax benefit 3,130 3,014 2,465
Idaho Power Company      
Share-based Compensation Arrangement by Share-based Payment Award      
Compensation cost 12,419 11,608 9,508
Income tax benefit $ 3,108 $ 2,988 $ 2,447
v3.25.4
SHARE-BASED COMPENSATION Share-based Compensation Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award      
Equity compensation costs capitalized $ 0    
2000 Long-Term Incentive and Compensation Plan      
Share-based Compensation Arrangement by Share-based Payment Award      
Percent of target award, minimum 0.00%    
Percent of target award, maximum 200.00%    
Total fair value of shares vested (in shares) $ 7,400,000 $ 8,500,000 $ 7,500,000
Vesting period of restricted stock awards 3 years    
2000 Long-Term Incentive and Compensation Plan | Directors      
Share-based Compensation Arrangement by Share-based Payment Award      
Shares granted - weighted average grant-date fair value (in dollars per share) $ 117.98    
Deferred shares (in shares) 5,532    
Shares granted (in shares) 11,268    
2000 Long-Term Incentive and Compensation Plan | IDACORP      
Share-based Compensation Arrangement by Share-based Payment Award      
Unrecognized compensation cost $ 11,500,000    
Shares granted - weighted average grant-date fair value (in dollars per share) $ 107.76    
Shares granted (in shares) 82,344    
Period over which unrecognized compensation cost will be recognized (in years) 1 year 8 months 12 days    
2000 Long-Term Incentive and Compensation Plan | Idaho Power Company      
Share-based Compensation Arrangement by Share-based Payment Award      
Shares granted - weighted average grant-date fair value (in dollars per share) $ 107.76    
Shares granted (in shares) 81,973    
Share-based Payment Arrangement [Member]      
Share-based Compensation Arrangement by Share-based Payment Award      
Maximum shares outstanding (in shares) 1,119,104    
2000 Long-term incentive and compensation plan      
Share-based Compensation Arrangement by Share-based Payment Award      
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years    
v3.25.4
EARNINGS PER SHARE: Earnings Per Share Level 4 (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator:      
Net income attributable to IDACORP, Inc. $ 323,472 $ 289,174 $ 261,195
Denominator:      
Weighted Average Common Shares Outstanding - Basic (in shares) 54,235 52,543 50,717
Effect of Dilutive Securities (in shares) [1] 571 72 89
Weighted Average Common Shares Outstanding - Diluted (in shares) 54,806 52,615 50,806
Earnings Attributable to IDACORP, Inc. - Basic (in dollars per share) $ 5.96 $ 5.50 $ 5.15
Earnings Attributable to IDACORP, Inc. - Diluted (in dollars per share) $ 5.90 $ 5.50 $ 5.14
[1] Includes the effect of dilutive securities related to FSAs. See Note 6 - "Common Stock" for additional information concerning IDACORP's FSAs.
v3.25.4
COMMITMENTS: Commitments Level 4 (Details)
 12 Months Ended 40 Months Ended
Dec. 31, 2025
USD ($)
MWh
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Feb. 29, 2032
Nov. 01, 2028
USD ($)
Dec. 31, 2027
MWh
Long-term Purchase Commitment            
Purchased power $ 392,462,000 $ 425,082,000 $ 501,531,000      
Maximum | Subsequent Event | Energy and Capacity            
Long-term Purchase Commitment            
Long-term Purchase Commitment, Period       3 years    
Bridger Coal Company            
Long-term Purchase Commitment            
IERCo guarantee of BCC reclamation obligation 150,200,000          
Idaho Power Company            
Long-term Purchase Commitment            
Purchased power 392,462,000 425,082,000 501,531,000      
IERCo guarantee of BCC reclamation obligation $ 50,100,000          
Idaho Power Company | PURPA and Non-PURPA Online            
Long-term Purchase Commitment            
Nameplate Capacity (in MW) | MWh 1,724          
Idaho Power Company | Subsequent Event | Energy and Capacity            
Long-term Purchase Commitment            
Purchase Obligation         $ 14,400,000  
Idaho Power Company | Joint-operating agreement payment [Member]            
Long-term Purchase Commitment            
Purchase Obligation Estimated Due Current [1] $ 2,983,000          
Purchase Obligation Estimated Future Payments Due In Two Years [1] 2,983,000          
Purchase Obligation Estimated Future Payments Due In Three Years [1] 2,983,000          
Purchase Obligation Estimated Future Payments Due In Four Years [1] 2,983,000          
Purchase Obligation Estimated Future Payments Due In Five Years [1] 2,983,000          
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter [1] 14,914,000          
Idaho Power Company | Easements and Other payments [Member]            
Long-term Purchase Commitment            
Purchase Obligation Estimated Due Current [1] 2,322,000          
Purchase Obligation Estimated Future Payments Due In Two Years [1] 2,371,000          
Purchase Obligation Estimated Future Payments Due In Three Years [1] 2,421,000          
Purchase Obligation Estimated Future Payments Due In Four Years [1] 2,472,000          
Purchase Obligation Estimated Future Payments Due In Five Years [1] 2,523,000          
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter [1] 13,435,000          
Idaho Power Company | Maintenance, service, and materials agreements            
Long-term Purchase Commitment            
Purchase Obligation Estimated Due Current [1],[2] 479,388,000          
Purchase Obligation Estimated Future Payments Due In Two Years [1],[2] 110,347,000          
Purchase Obligation Estimated Future Payments Due In Three Years [1],[2] 312,155,000          
Purchase Obligation Estimated Future Payments Due In Four Years [1],[2] 36,558,000          
Purchase Obligation Estimated Future Payments Due In Five Years [1],[2] 8,327,000          
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter [1] 41,237,000          
Idaho Power Company | FERC and other industry-related fees            
Long-term Purchase Commitment            
Purchase Obligation Estimated Due Current [1] 17,898,000          
Purchase Obligation Estimated Future Payments Due In Two Years [1] 17,106,000          
Purchase Obligation Estimated Future Payments Due In Three Years [1] 16,962,000          
Purchase Obligation Estimated Future Payments Due In Four Years [1] 16,908,000          
Purchase Obligation Estimated Future Payments Due In Five Years [1] 17,391,000          
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter [1] 85,255,000          
Idaho Power Company | Cogeneration, power production, battery storage, and transmission rights            
Long-term Purchase Commitment            
Purchase Obligation Estimated Due Current 350,046,000          
Purchase Obligation Estimated Future Payments Due In Two Years 383,878,000          
Purchase Obligation Estimated Future Payments Due In Three Years 427,829,000          
Purchase Obligation Estimated Future Payments Due In Four Years 428,270,000          
Purchase Obligation Estimated Future Payments Due In Five Years 425,584,000          
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter 3,710,029,000          
Idaho Power Company | Fuel purchase commitments            
Long-term Purchase Commitment            
Purchase Obligation Estimated Due Current 191,035,000          
Purchase Obligation Estimated Future Payments Due In Two Years 159,806,000          
Purchase Obligation Estimated Future Payments Due In Three Years 96,773,000          
Purchase Obligation Estimated Future Payments Due In Four Years 45,314,000          
Purchase Obligation Estimated Future Payments Due In Five Years 46,063,000          
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter $ 498,929,000          
Idaho Power Company | Cogeneration And Power Production Purchase Commitment Member | Minimum            
Long-term Purchase Commitment            
Long-term Purchase Commitment, Period 1 year          
Idaho Power Company | Cogeneration And Power Production Purchase Commitment Member | Maximum            
Long-term Purchase Commitment            
Long-term Purchase Commitment, Period 35 years          
Idaho Power Company | Long-Term Power Production Purchase Commitment            
Long-term Purchase Commitment            
Purchased power $ 306,000,000 $ 294,000,000 $ 258,000,000      
Idaho Power Company | Contracts to Acquire and Own Transmission and Generation            
Long-term Purchase Commitment            
Purchase Obligation 481,000,000          
IDACORP [Member]            
Long-term Purchase Commitment            
Long-term Purchase Commitment, Amount 2,800,000          
IDACORP [Member] | Affordable housing limited partnership and other real estate tax credit investments            
Long-term Purchase Commitment            
Long-term Purchase Commitment, Amount 21,400,000          
Forecast | Idaho Power Company | PURPA and Non-PURPA Online            
Long-term Purchase Commitment            
Nameplate Capacity (in MW) | MWh           625
Contracts with no expiration [Member] | Idaho Power Company | Joint-operating agreement payment [Member]            
Long-term Purchase Commitment            
Purchase Obligation 30,000,000          
Contracts with no expiration [Member] | Idaho Power Company | Easements and Other payments [Member]            
Long-term Purchase Commitment            
Purchase Obligation 1,000,000          
Contracts with no expiration [Member] | Idaho Power Company | Maintenance, service, and materials agreements            
Long-term Purchase Commitment            
Purchase Obligation 16,000,000          
Contracts with no expiration [Member] | Idaho Power Company | FERC and other industry-related fees            
Long-term Purchase Commitment            
Purchase Obligation $ 170,000,000          
[1] Approximately $30 million, $1 million, $16 million, and $170 million of the commitments included in joint-operating agreement payments, easements and other payments, maintenance, service, and materials agreements, and FERC and other industry-related fees, respectively, have contracts that do not specify terms related to expiration. As these contracts are presumed to continue indefinitely, ten years of information, estimated based on current contract terms, has been included in the table for presentation purposes.
[2] As of December 31, 2025, Idaho Power had a remaining $481 million commitment related to contracts to acquire and own transmission and generation resources with in-service dates in 2028 and 2030.
v3.25.4
LEASES: Level 4 (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Rate
Lease cost [Line Items]  
Finance Lease, Right-of-Use Asset, Amortization $ 3,762
Finance Lease, Interest Expense 8,586 [1]
Finance Lease, Cost 12,348
Variable Lease, Cost 973
Lease, Cost $ 13,321
Other Other
Finance Lease, Liability, Current $ 6,161
Finance Lease, Weighted Average Remaining Lease Term 19 years 4 months 17 days
Finance Lease, Weighted Average Discount Rate, Percent | Rate 6.17%
Finance Lease, Liability, to be Paid, Rolling Maturity [Abstract]  
Finance Lease, Liability, to be Paid, Year One $ 19,751
Finance Lease, Liability, to be Paid, Year Two 19,751
Finance Lease, Liability, to be Paid, Year Three 19,751
Finance Lease, Liability, to be Paid, Year Four 19,751
Finance Lease, Liability, to be Paid, Year Five 19,751
Finance Lease, Liability, to be Paid, after Year Five 283,907
Finance Lease, Liability, to be Paid 382,662
Finance Lease, Liability, Undiscounted Excess Amount (159,806)
Finance Lease, Liability $ 222,856
[1] Included in operating activities in the consolidated statements of cash flows as cash paid for amounts included in the measurement of lease liabilities.
v3.25.4
CONTINGENCIES: Level 4 (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]    
Regulatory Assets $ 1,564,458 $ 1,507,372
Regulatory Assets $ 1,564,458 $ 1,507,372
v3.25.4
BENEFIT PLANS: Schedule Defined Benefit Plans Disclosures (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Change in Fair Value of Plan Assets [Roll Forward]      
Employer contributions $ 10,900,000 $ 10,400,000 $ 9,800,000
Noncurrent liabilities (137,406,000) (165,992,000)  
Less amount recorded as regulatory assets 1,564,458,000 1,507,372,000  
Pension Plan      
Change in Benefit Obligation [Roll Forward]      
Benefit obligation at January 1 998,166,000 1,028,016,000  
Service cost 31,774,000 33,992,000 29,843,000
Interest cost 56,151,000 52,181,000 51,277,000
Actuarial (gain) loss 5,237,000 (65,972,000)  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 0  
Benefits Paid 52,309,000 50,051,000  
Projected benefit obligation at December 31 1,039,019,000 998,166,000 1,028,016,000
Change in Fair Value of Plan Assets [Roll Forward]      
Fair value at January 1 951,142,000 917,513,000  
Actual return (loss) on plan assets 104,542,000 63,680,000  
Employer contributions 20,000,000 20,000,000  
Benefits Paid (52,309,000) (50,051,000)  
Fair value at December 31 1,023,375,000 951,142,000 917,513,000
Funded status at end of year (15,644,000) (47,024,000)  
Other current liabilities 0 0  
Noncurrent liabilities (15,644,000) (47,024,000)  
Net amount recognized (15,644,000) (47,024,000)  
Net loss 13,142,000 43,516,000  
Prior service cost 18,000 24,000  
Subtotal 13,160,000 43,540,000  
Less amount recorded as regulatory assets [1] 13,160,000 43,540,000  
Net amount recognized in accumulated other comprehensive income 0 0  
Accumulated benefit obligation 895,190,000 863,705,000  
Senior Management Security Plan      
Change in Benefit Obligation [Roll Forward]      
Benefit obligation at January 1 102,318,000 105,809,000  
Service cost 1,172,000 1,051,000 612,000
Interest cost 5,640,000 5,332,000 5,322,000
Actuarial (gain) loss 2,401,000 (3,321,000)  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 7,000 15,000  
Benefits Paid 6,900,000 6,568,000  
Projected benefit obligation at December 31 104,638,000 102,318,000 105,809,000
Change in Fair Value of Plan Assets [Roll Forward]      
Fair value at January 1 0 0  
Actual return (loss) on plan assets 0 0  
Employer contributions 0 0  
Benefits Paid 0 0  
Fair value at December 31 0 0 $ 0
Funded status at end of year (104,638,000) (102,318,000)  
Other current liabilities (6,855,000) (6,827,000)  
Noncurrent liabilities (97,783,000) (95,491,000)  
Net amount recognized (104,638,000) (102,318,000)  
Net loss 18,154,000 16,442,000  
Prior service cost 1,780,000 1,995,000  
Subtotal 19,934,000 18,437,000  
Less amount recorded as regulatory assets 0 0  
Net amount recognized in accumulated other comprehensive income 19,934,000 18,437,000  
Accumulated benefit obligation $ 99,105,000 $ 96,487,000  
[1] Changes in the funded status of the pension plan that would be recorded in AOCI for an unregulated entity are recorded as a regulatory asset for Idaho Power as Idaho Power believes it is probable that an amount equal to the regulatory asset will be collected through the setting of future rates.
v3.25.4
BENEFIT PLANS: Defined Benefit Plan, Net Periodic Benefit Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure      
Net periodic benefit cost $ 5,986 $ 8,077 $ 6,513
Pension Plan      
Defined Benefit Plan Disclosure      
Service cost 31,774 33,992 29,843
Interest cost 56,151 52,181 51,277
Expected return on plan assets 68,931 66,533 61,728
Amortization of net loss 0 (1,700) 0
Amortization of prior service cost 6 6 6
Net periodic benefit cost 19,000 21,346 19,398
Regulatory deferral of net periodic benfit cost [1] 18,159 20,425 18,553
Previously deferred pension cost recognized [1] 35,182 35,182 17,154
Net periodic benefit cost recognized for financial reporting [1],[2] 36,023 36,103 17,999
Pension and SMSP      
Defined Benefit Plan Disclosure      
NetServiceCostDefinedBenefitPlan 37,800 35,900 18,200
otherexpensedefinedbenefitplanbenefitcost 6,000 8,100 6,500
Senior Management Security Plan      
Defined Benefit Plan Disclosure      
Service cost 1,172 1,051 612
Interest cost 5,640 5,332 5,322
Expected return on plan assets 0 0 0
Amortization of net loss (690) (1,312) (570)
Amortization of prior service cost 221 220 219
Net periodic benefit cost 7,723 7,915 6,723
Regulatory deferral of net periodic benfit cost 0 0 0
Net periodic benefit cost recognized for financial reporting [2] 7,723 7,915 6,723
Postretirement Benefits      
Defined Benefit Plan Disclosure      
Service cost 672 698 658
Interest cost 2,973 2,824 2,980
Expected return on plan assets 1,786 1,831 1,650
Amortization of net loss 1,765 1,494 1,237
Amortization of prior service cost 1,374 1,548 1,665
Net periodic benefit cost $ 1,468 $ 1,745 $ 2,416
[1] Net periodic pension costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under an IPUC order, the Idaho portion of net periodic pension cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
[2] Of total net periodic pension cost recognized for financial reporting $37.8 million, $35.9 million, and $18.2 million respectively, was recognized in "Other operations and maintenance" and $6.0 million, $8.1 million, and $6.5 million respectively, was recognized in "Other income, net" on the consolidated statements of income of the companies for the twelve months ended December 31, 2025, 2024, and 2023.
v3.25.4
BENEFIT PLANS: Schedule of Amounts Recognized in Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reclassification adjustments for:      
Unfunded pension liability adjustment, net of tax $ 1,352 $ (3,592) $ 4,262
Pension Plan      
Defined Benefit Plan Disclosure      
Actuarial (loss) gain during the year 30,374 63,119 (25,071)
Plan amendment service cost 0 0 0
Reclassification adjustments for:      
Amortization of net loss 0 1,700 0
Amortization of prior service cost 6 6 6
Adjustment for deferred tax effects (7,604) (16,686) 6,452
Adjustment due to the effects of regulation 22,776 48,139 (18,613)
Unfunded pension liability adjustment, net of tax 0 0 0
Senior Management Security Plan      
Defined Benefit Plan Disclosure      
Actuarial (loss) gain during the year (2,401) 3,320 (6,517)
Plan amendment service cost (7) (15) (11)
Reclassification adjustments for:      
Amortization of net loss 690 1,312 570
Amortization of prior service cost 221 220 219
Adjustment for deferred tax effects 145 (1,245) 1,477
Adjustment due to the effects of regulation 0 0 0
Unfunded pension liability adjustment, net of tax (1,352) 3,592 (4,262)
Postretirement Benefits      
Defined Benefit Plan Disclosure      
Actuarial (loss) gain during the year 619 3,616 7,572
Reclassification adjustments for:      
Amortization of prior service cost 1,375 1,548 1,665
Adjustment for deferred tax effects (57) (945) (2,059)
Adjustment due to the effects of regulation 172 2,725 5,941
Unfunded pension liability adjustment, net of tax $ 0 $ 0 $ 0
v3.25.4
BENEFIT PLANS: Defined Benefit Plan, Estimated Future Benefit Payments (Details) - USD ($)
$ in Thousands
Dec. 31, 2026
Dec. 31, 2025
Pension Plan    
Defined Benefit Plan Disclosure    
Defined Benefit Plan, Expected Future Benefit Payments in Year One   $ 53,000
Defined Benefit Plan, Expected Future Benefit Payments in Year Two   54,713
Defined Benefit Plan, Expected Future Benefit Payments in Year Three   56,371
Defined Benefit Plan, Expected Future Benefit Payments in Year Four   58,110
Defined Benefit Plan, Expected Future Benefit Payments in Year Five   59,898
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter   331,936
Senior Management Security Plan    
Defined Benefit Plan Disclosure    
Defined Benefit Plan, Expected Future Benefit Payments in Year One   6,855
Defined Benefit Plan, Expected Future Benefit Payments in Year Two   6,883
Defined Benefit Plan, Expected Future Benefit Payments in Year Three   7,079
Defined Benefit Plan, Expected Future Benefit Payments in Year Four   7,360
Defined Benefit Plan, Expected Future Benefit Payments in Year Five   7,438
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter   $ 37,939
Forecast | Pension Plan    
Defined Benefit Plan Disclosure    
Defined Benefit Plan, Minimum Funding Requirement for Next Fiscal Year $ 0  
v3.25.4
BENEFIT PLANS: Schedule of Defined Benefit Plan Disclosures, Other Postretirment Benefit Plans (Details) - Postretirement Benefits - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Change in Benefit Obligation [Roll Forward]      
Benefit obligation at January 1 $ 54,604 $ 56,064  
Service cost 672 698 $ 658
Interest cost 2,973 2,824 2,980
Actuarial loss (gain) 1,976 (778)  
Defined Benefit Plan, Benefit Obligation, Benefits Paid [1] (4,714) (4,204)  
Projected benefit obligation at December 31 55,511 54,604 56,064
Change in Fair Value of Plan Assets [Roll Forward]      
Fair value at January 1 31,128 [2] 31,804  
Actual return (loss) on plan assets 4,381 4,669  
Employer contributions [1] 736 (1,141)  
Benefits Paid [1] (4,714) (4,204)  
Fair value at December 31 31,531 [2] 31,128 [2] $ 31,804
Funded status at end of year (23,980) (23,476)  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant $ 2,300 $ 2,300  
Postretirement Benefit, Medical trend rate EY 7.00% 6.30%  
[1] Contributions and benefits paid are each net of $2.3 million and $2.3 million of plan participant contributions for 2025 and 2024, respectively.
[2] The postretirement benefits assets are primarily life insurance contracts.
v3.25.4
BENEFIT PLANS: Amounts recognized in accumulated other comprehensive income, other postretirement plan (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure    
Regulatory Assets $ 1,564,458 $ 1,507,372
Postretirement Benefits    
Defined Benefit Plan Disclosure    
Net (loss) gain (28,207) (29,353)
Prior service cost 3,262 4,636
Subtotal (24,945) (24,717)
Regulatory Assets 24,945 24,717
Net amount recognized in accumulated other comprehensive income $ 0 $ 0
v3.25.4
BENEFIT PLANS: Defined Benefit Plan, Net Periodic Benefit Cost, Other Postretirement Plan (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Net Periodic Benefit Cost      
Net periodic benefit cost $ 5,986 $ 8,077 $ 6,513
Postretirement Benefits      
Defined Benefit Plan, Net Periodic Benefit Cost      
Service cost 672 698 658
Interest cost 2,973 2,824 2,980
Expected return on plan assets (1,786) (1,831) (1,650)
Amortization of net loss (1,765) (1,494) (1,237)
Amortization of prior service cost 1,374 1,548 1,665
Net periodic benefit cost $ 1,468 $ 1,745 $ 2,416
v3.25.4
BENEFIT PLANS: Expected future benefit payments and prescription drug benefits (Details) - Postretirement Benefits
$ in Thousands
Dec. 31, 2025
USD ($)
Defined Benefit Plan Disclosure  
Defined Benefit Plan, Expected Future Benefit Payments in Year One $ 4,855
Defined Benefit Plan, Expected Future Benefit Payments in Year Two 4,715
Defined Benefit Plan, Expected Future Benefit Payments in Year Three 4,620
Defined Benefit Plan, Expected Future Benefit Payments in Year Four 4,580
Defined Benefit Plan, Expected Future Benefit Payments in Year Five 4,511
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter $ 21,157
v3.25.4
BENEFIT PLANS: Defined Benefit Plan, Assumptions Used in Calculations, Benefit Obligations (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension Plan      
Defined Benefit Plan Disclosure      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 7.40% 7.40% 7.40%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Discount Rate 5.75% 5.70%  
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase [1] 4.42% 4.43%  
Defined Benefit Plan, Plan Assets, Accounting Policy Election, Measurement Date Dec. 31, 2025 Dec. 31, 2024  
Senior Management Security Plan      
Defined Benefit Plan Disclosure      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 0.00% 0.00% 0.00%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Discount Rate 5.65% 5.70%  
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase [1] 4.75% 4.75%  
Defined Benefit Plan, Plan Assets, Accounting Policy Election, Measurement Date Dec. 31, 2025 Dec. 31, 2024  
Postretirement Benefits      
Defined Benefit Plan Disclosure      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 6.00% 6.00% 6.00%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Discount Rate 5.60% 5.70%  
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase [1] 0.00% 0.00%  
Postretirement Benefit, Medical Trend Rate 6.20% 7.10% 6.70%
Health Care Cost Trend Rate Assumed for Next Fiscal Year 4.00% 3.50%  
Defined Benefit Plan, Plan Assets, Accounting Policy Election, Measurement Date Dec. 31, 2025 Dec. 31, 2024  
Inflation rate | Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 2.40%    
Composite merit increase | Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 2.02%    
Merit salary increase first year of service | Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 10.60%    
Merit salary increase fortieth year of service and beyond | Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 3.40%    
[1] The 2025 rate of compensation increase assumption for the pension plan includes an inflation component of 2.40% plus a 2.02% composite merit increase component that is based on employees' years of service. Merit salary increases are assumed to be 10.6% for employees in their first year of service and scale down to 3.4% for employees in their fortieth year of service and beyond.
v3.25.4
BENEFIT PLANS: Defined Benefit Plan, Assumptions Used in Calculations, Net Periodic Benefit Cost (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 5.70% 5.10% 5.45%
Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets 7.40% 7.40% 7.40%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase 4.42% 4.43% 4.49%
Senior Management Security Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 5.70% 5.20% 5.50%
Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets 0.00% 0.00% 0.00%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase 4.75% 4.75% 4.75%
Postretirement Benefits      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 5.70% 5.15% 5.45%
Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets 6.00% 6.00% 6.00%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase 0.00% 0.00% 0.00%
Postretirement Benefit, Medical Trend Rate 6.20% 7.10% 6.70%
Postretirement Benefit, Dental Trend Rate 4.00% 3.50% 3.50%
v3.25.4
BENEFIT PLANS: Defined Benefit Plan, Information about Plan Assets, Allocation Percentages (Details) - Pension Plan
Dec. 31, 2025
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 100.00%
Actual Plan Asset Allocations 100.00%
Debt Securities  
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 25.00%
Actual Plan Asset Allocations 25.00%
Equity Securities  
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 56.00%
Actual Plan Asset Allocations 59.00%
Real Estate  
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 8.00%
Actual Plan Asset Allocations 8.00%
Other plan assets  
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 11.00%
Actual Plan Asset Allocations 8.00%
v3.25.4
BENEFIT PLANS: Information about Plan Assets, Fair Value of Plan Assets by Measurement (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension Plan      
Defined Benefit Plan Disclosure      
Fair value of plan assets $ 1,023,375 $ 951,142 $ 917,513
Postretirement Benefits      
Defined Benefit Plan Disclosure      
Fair value of plan assets 31,531 [1] 31,128 [1] $ 31,804
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure      
Fair value of plan assets 11,625 24,946  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Intermediate Bonds      
Defined Benefit Plan Disclosure      
Fair value of plan assets 246,455 224,705  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: Large Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 54,168 49,848  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: Mid Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 106,437 103,117  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: Small Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 85,047 82,932  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: Micro-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 43,752 38,871  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 63,998 58,767  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Defined Benefit Plan, Equity Securities, Non-US [Member]      
Defined Benefit Plan Disclosure      
Fair value of plan assets 3,433 6,093  
Fair Value, Inputs, Level 1 | Pension Plan      
Defined Benefit Plan Disclosure      
Fair value of plan assets 410,786 404,751  
Fair Value, Inputs, Level 1 | Pension Plan | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure      
Fair value of plan assets 11,625 24,946  
Fair Value, Inputs, Level 1 | Pension Plan | Intermediate Bonds      
Defined Benefit Plan Disclosure      
Fair value of plan assets 42,326 40,177  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: Large Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 54,168 49,848  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: Mid Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 106,437 103,117  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: Small Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 85,047 82,932  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: Micro-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 43,752 38,871  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 63,998 58,767  
Fair Value, Inputs, Level 1 | Pension Plan | Defined Benefit Plan, Equity Securities, Non-US [Member]      
Defined Benefit Plan Disclosure      
Fair value of plan assets 3,433 6,093  
Fair Value, Inputs, Level 1 | Postretirement Benefits      
Defined Benefit Plan Disclosure      
Fair value of plan assets [1] 1,224 3,054  
Fair Value, Inputs, Level 2 | Pension Plan      
Defined Benefit Plan Disclosure      
Fair value of plan assets 204,129 184,528  
Fair Value, Inputs, Level 2 | Pension Plan | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Intermediate Bonds      
Defined Benefit Plan Disclosure      
Fair value of plan assets 204,129 184,528  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: Large Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: Mid Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: Small Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: Micro-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Defined Benefit Plan, Equity Securities, Non-US [Member]      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Postretirement Benefits      
Defined Benefit Plan Disclosure      
Fair value of plan assets [1] 30,307 28,074  
Fair Value, Inputs, Level 3 | Pension Plan      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Intermediate Bonds      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: Large Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: Mid Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: Small Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: Micro-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Defined Benefit Plan, Equity Securities, Non-US [Member]      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Postretirement Benefits      
Defined Benefit Plan Disclosure      
Fair value of plan assets [1] 0 0  
Fair Value Measured at Net Asset Value Per Share | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 146,047 124,559  
Fair Value Measured at Net Asset Value Per Share | Pension Plan | Equity Securities: Emerging Markets      
Defined Benefit Plan Disclosure      
Fair value of plan assets 52,305 41,590  
Fair Value Measured at Net Asset Value Per Share | Pension Plan | Real Estate      
Defined Benefit Plan Disclosure      
Fair value of plan assets 77,141 72,913  
Fair Value Measured at Net Asset Value Per Share | Pension Plan | Private market investments      
Defined Benefit Plan Disclosure      
Fair value of plan assets 71,760 62,976  
Fair Value Measured at Net Asset Value Per Share | Pension Plan | Direct Lending Fund: Fixed Income      
Defined Benefit Plan Disclosure      
Fair value of plan assets 8,377 5,479  
Fair Value Measured at Net Asset Value Per Share | Pension Plan | Comingled Fund: Equity Securities:Large-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets $ 52,830 $ 54,346  
[1] The postretirement benefits assets are primarily life insurance contracts.
v3.25.4
BENEFIT PLANS: Benefit Plans Narrative (Details) - USD ($)
 11 Months Ended 12 Months Ended
Dec. 31, 2074
Dec. 31, 2028
Dec. 31, 2027
Dec. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Net Periodic Benefit Cost              
Fair Value, All Levels Transfers, Amount         $ 0 $ 0  
Employer contributions         10,900,000 10,400,000 $ 9,800,000
Supplemental Unemployment Benefits, Disability Related Benefits         $ 1,000,000 $ 3,000,000  
Pension Plan              
Defined Benefit Plan, Net Periodic Benefit Cost              
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate         5.70% 5.10% 5.45%
Employer contributions         $ 20,000,000 $ 20,000,000  
Postretirement Benefits              
Defined Benefit Plan Disclosure              
Postretirement Benefit, Medical Trend Rate         6.20% 7.10% 6.70%
Postretirement Benefit, Dental Trend Rate         4.00% 3.50% 3.50%
Defined Benefit Plan, Net Periodic Benefit Cost              
Health Care Cost Trend Rate Assumed for Next Fiscal Year         4.00% 3.50%  
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate         5.70% 5.15% 5.45%
Senior Management Security Plan              
Defined Benefit Plan Disclosure              
Executive Deferred Compensation Plan Assets         $ 172,100,000 $ 159,100,000  
Defined Benefit Plan, Net Periodic Benefit Cost              
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate         5.70% 5.20% 5.50%
Employer contributions         $ 0 $ 0  
Forecast | Pension Plan              
Defined Benefit Plan, Net Periodic Benefit Cost              
Defined Benefit Plan, Minimum Funding Requirement for Next Fiscal Year       $ 0      
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year       $ 30,000,000      
Forecast | Postretirement Benefits              
Defined Benefit Plan Disclosure              
Postretirement Benefit, Dental Trend Rate     4.00%        
Defined Benefit Plan, Net Periodic Benefit Cost              
Health Care Cost Trend Rate Assumed For Year Two       7.00%      
Health Care Cost Trend Rate Assumed for Year Three     6.20%        
Health Care Cost Trend Rate Assumed for Year Four 3.80% 5.50%          
v3.25.4
PROPERTY, PLANT AND EQUIPMENT AND JOINTLY-OWNED PROJECTS: Property, Plant and Equipmnt Level 4 (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
MWh
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Public Utility, Property, Plant and Equipment      
Production $ 2,675,671,000 $ 2,858,678,000  
Transmission 1,653,490,000 1,534,474,000  
Energy Storage [1] 509,740,000 393,012,000  
Distribution [1] 2,658,849,000 2,465,423,000  
General and Other 751,356,000 706,176,000  
Utility plant in service 8,249,106,000 7,957,763,000  
Accumulated provision for depreciation (2,599,465,000) (2,714,706,000)  
Utility plant in service - net $ 5,649,641,000 $ 5,243,057,000  
Average depreciation rate 3.20% 3.10% 2.90%
Idaho Energy Resources Co. Coal purchases from Bridger Coal Company $ 253,236,000 $ 259,204,000 $ 275,405,000
Regulatory Liabilities $ 1,052,151,000 $ 984,326,000  
Jim Bridger Plant      
Public Utility, Property, Plant and Equipment      
Jointly Owned Utility Plant, Name Jim Bridger units 1-4    
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service $ 777,096,000    
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress 780,000    
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation $ 575,151,000    
Jointly Owned Utility Plant, Proportionate Ownership Share 33.00%    
Nameplate Capacity (in MW) | MWh [2] 775    
Valmy Plant      
Public Utility, Property, Plant and Equipment      
Jointly Owned Utility Plant, Name North Valmy units 1 & 2(2)    
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service [3] $ 42,113,000    
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress [3] 21,118,000    
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation [3] $ (128,000)    
Jointly Owned Utility Plant, Proportionate Ownership Share [3] 50.00%    
Nameplate Capacity (in MW) | MWh [2],[3] 284    
Production      
Public Utility, Property, Plant and Equipment      
Average depreciation rate 4.02% 3.90%  
Transmission      
Public Utility, Property, Plant and Equipment      
Average depreciation rate 1.91% 1.89%  
Electric Energy Storage      
Public Utility, Property, Plant and Equipment      
Average depreciation rate [1] 5.06% 3.61%  
Distribution      
Public Utility, Property, Plant and Equipment      
Average depreciation rate [1] 2.17% 2.16%  
General and Other      
Public Utility, Property, Plant and Equipment      
Average depreciation rate 5.27% 5.18%  
Bridger Coal Company      
Public Utility, Property, Plant and Equipment      
Idaho Energy Resources Co. Coal purchases from Bridger Coal Company $ 54,400,000 $ 51,600,000 67,900,000
Idaho Power Company      
Public Utility, Property, Plant and Equipment      
Utility plant in service 8,249,106,000 7,957,763,000  
Accumulated provision for depreciation (2,599,465,000) (2,714,706,000)  
Utility plant in service - net $ 5,649,641,000 $ 5,243,057,000  
Average depreciation rate 3.18% 3.06%  
Idaho Energy Resources Co. Coal purchases from Bridger Coal Company $ 253,236,000 $ 259,204,000 $ 275,405,000
Construction work in progress 1,700,000,000    
Hells Canyon Complex | Idaho Power Company      
Public Utility, Property, Plant and Equipment      
Construction work in progress 536,100,000    
Deferred revenue-AFUDC      
Public Utility, Property, Plant and Equipment      
Regulatory Liabilities [4] $ 280,979,000 $ 250,942,000  
[1] The presentation of the major classifications of Idaho Power's utility plant in service in the table above has been modified to separately report the energy storage balance for the years ended December 31, 2025 and 2024. The prior year energy storage balance, which had previously been classified in the distribution balance, has been reclassified to conform with the current year presentation. This change reflects a shift from one acceptable presentation to another to enhance transparency.
[2] Idaho Power’s share of nameplate capacity.
[3] Pursuant to an agreement with NV Energy, Idaho Power ceased participation in coal-fired operations of North Valmy in December 2019 at unit 1 and December 2025 at unit 2. Idaho Power's 2025 IRP identified a preferred resource portfolio and action plan that includes the conversion of the two generating units at the North Valmy plant from coal to natural gas by mid-2026. The conversion of Unit 1 has been completed and the unit was placed in-service in December 2025, and conversion of Unit 2 is expected to be completed by mid-2026.
[4] Idaho Power is collecting revenue in the Idaho jurisdiction for AFUDC on HCC relicensing costs but is deferring revenue recognition of the amounts collected until the license is issued and the asset is placed in service under the new license.
v3.25.4
ASSET RETIREMENT OBLIGATIONS Asset Retirement Obligations Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Asset Retirement Obligation, Roll Forward Analysis    
Balance at beginning of year $ 51,126 $ 48,997
Accretion Expense 2,457 1,895
Revisions in estimated cash flows 21,642 842
Liabilities settled 1,249 608
Balance at end of year $ 73,976 $ 51,126
v3.25.4
INVESTMENTS: Investments Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Summary of investments in debt and equity securities      
Equity method investment $ 9,529 $ 9,666  
Investments in affordable housing 50,422 54,654  
Other Investments 5,948 4,099  
Total investments 155,002 161,340  
Earnings of unconsolidated equity-method investments 4,922 4,539 $ 12,426
Debt Securities, Held-to-Maturity, Purchase $ (2,896) (1,845) (1,617)
Idaho Power Company      
Summary of investments in debt and equity securities      
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage 33.00%    
Corporate Fixed-Income And Asset-Backed Debt Securities      
Summary of investments in debt and equity securities      
Debt Securities, Held-to-Maturity, Purchase $ 2,900 1,800  
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Fair Value 1,400 2,700  
Idaho Power Company      
Summary of investments in debt and equity securities      
Equity method investment 16,833 20,998  
Cash, Cash Equivalents, and Short-term Investments 37,232 38,873  
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent 33,822 32,151  
Executive Deferred Compensation Plan Assets 1,216 899  
Total investments $ 89,103 92,921  
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage 33.00%    
Earnings of unconsolidated equity-method investments $ 2,984 2,671 10,540
Gross realized gains from sales 0 0 0
Debt Securities, Held-to-Maturity, Purchase (2,896) (1,845) (1,617)
Bridger Coal Company      
Summary of investments in debt and equity securities      
Earnings of unconsolidated equity-method investments $ 2,984 2,671 10,540
Ida-West Energy      
Summary of investments in debt and equity securities      
Jointly Owned Utility Plant, Proportionate Ownership Share 50.00%    
Earnings of unconsolidated equity-method investments $ 1,938 $ 1,868 $ 1,886
v3.25.4
DERIVATIVE FINANCIAL INSTRUMENTS: Derivative Instruments, Gain (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financial Swaps | Operating revenues      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net [1] $ 559 $ 5,189 $ 4,216
Financial Swaps | Purchased power      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net [1] (3,967) (7,101) (8,542)
Financial Swaps | Fuel Expense      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net [1] (37,659) (63,380) (16,209)
Forward contracts | Operating revenues      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net [1] 917 1,885 2,280
Forward contracts | Purchased power      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net [1] (1,017) (3,742) (4,035)
Forward contracts | Fuel Expense      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net [1] $ (1,457) $ (2,510) $ (866)
[1] Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.
v3.25.4
DERIVATIVE FINANCIAL INSTRUMENTS: Derivative Financial Instruments Level 4 (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value    
Derivative Asset, Fair Value, Gross Asset $ 3,982 $ 5,188
Derivative Asset, Fair Value, Gross Liability (3,979) (5,188)
Derivative Asset, Fair Value, Amount Offset Against Collateral 3 0
Derivative Liability, Fair Value, Gross Liability 53,498 31,776
Derivative Liability, Fair Value, Gross Asset (33,779) (15,517)
Derivative Liability, Fair Value, Amount Offset Against Collateral 19,719 16,259
Derivatives in a net liability position 55,800  
Collateral Already Posted, Aggregate Fair Value 45,100  
Additional Collateral, Aggregate Fair Value 34,000  
Other assets    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, Collateral, Obligation to Return Cash, Offset Against Derivative Asset   1,500
Other current liabilities    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset 26,900 11,900
Other liabilities    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset 2,900  
Financial Swaps | Other assets    
Fair Value    
Derivative Asset, Fair Value, Gross Asset   1,939
Derivative Asset, Fair Value, Gross Liability [1]   (1,939)
Derivative Asset, Fair Value, Amount Offset Against Collateral   0
Derivative Liability, Fair Value, Gross Liability   409
Derivative Liability, Fair Value, Gross Asset   (409)
Derivative Liability, Fair Value, Amount Offset Against Collateral   0
Financial Swaps | Other current liabilities    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 2,535 3,072
Derivative Asset, Fair Value, Gross Liability (2,535) (3,072)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 34,486 18,092
Derivative Liability, Fair Value, Gross Asset (29,394) [2] (14,931) [3]
Derivative Liability, Fair Value, Amount Offset Against Collateral 5,092 3,161
Financial Swaps | Other liabilities    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 1,444 177
Derivative Asset, Fair Value, Gross Liability (1,444) (177)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 7,479 1,019
Derivative Liability, Fair Value, Gross Asset (4,385) [4] (177)
Derivative Liability, Fair Value, Amount Offset Against Collateral 3,094 842
Forward contracts | Other current assets    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 3  
Derivative Asset, Fair Value, Gross Liability 0  
Derivative Asset, Fair Value, Amount Offset Against Collateral 3  
Derivative Liability, Fair Value, Gross Liability 0  
Derivative Liability, Fair Value, Gross Asset 0  
Derivative Liability, Fair Value, Amount Offset Against Collateral 0  
Forward contracts | Other current liabilities    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 0 0
Derivative Asset, Fair Value, Gross Liability 0 0
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 1,009 1,291
Derivative Liability, Fair Value, Gross Asset 0 0
Derivative Liability, Fair Value, Amount Offset Against Collateral 1,009 1,291
Forward contracts | Other liabilities    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 0 0
Derivative Asset, Fair Value, Gross Liability 0 0
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 10,524 10,965
Derivative Liability, Fair Value, Gross Asset 0 0
Derivative Liability, Fair Value, Amount Offset Against Collateral $ 10,524 $ 10,965
[1] Long-term asset derivative amounts offset include $1.5 million of collateral payable at December 31, 2024.
[2] Current liability derivative amounts offset include $26.9 million of collateral receivable at December 31, 2025.
[3] Current liability derivative amounts offset include $11.9 million of collateral receivable at December 31, 2024.
[4] Long-term liability derivative amounts offset include $2.9 million of collateral receivable at December 31, 2025.
v3.25.4
DERIVATIVE FINANCIAL INSTRUMENTS: Derivative Instruments, Notional Amounts (Details) (Details)
MWh in Thousands, MMBTU in Thousands
Dec. 31, 2025
MWh
MMBTU
Dec. 31, 2024
MWh
MMBTU
Electricity (MWh) | Long    
Derivative    
Derivative, Nonmonetary Notional Amount 200 161
Electricity (MWh) | Short    
Derivative    
Derivative, Nonmonetary Notional Amount 33 16
Natural Gas (MMBTU) | Long    
Derivative    
Derivative, Nonmonetary Notional Amount | MMBTU 131,863 88,330
v3.25.4
FAIR VALUE MEASUREMENTS: Fair Value Measurements Level 4 (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value, All Levels Transfers, Amount $ 0 $ 0
Money market funds [1] $ 62,012,000 146,308,000
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other  
Asset derivatives $ 3,000 0
Equity Securities, FV-NI $ 38,448,000 39,772,000
Derivatives Other  
Liability derivatives $ 19,719,000 16,259,000
Fair Value, Inputs, Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 62,012,000 146,308,000
Asset derivatives 0 0
Equity Securities, FV-NI 38,448,000 39,772,000
Other Assets, Fair Value Disclosure [1] 0 0
Liability derivatives 8,186,000 4,003,000
Fair Value, Inputs, Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 0 0
Asset derivatives 3,000 0
Equity Securities, FV-NI 0 0
Other Assets, Fair Value Disclosure [1] 0 0
Liability derivatives 11,533,000 12,256,000
Fair Value, Inputs, Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 0 0
Asset derivatives 0 0
Equity Securities, FV-NI 0 0
Other Assets, Fair Value Disclosure [1] 0 0
Liability derivatives 0 0
Fair Value Measured at Net Asset Value Per Share    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other Assets, Fair Value Disclosure [1] 5,948,000 4,099,000
Idaho Power Company    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 110,602,000 158,999,000
Idaho Power Company | Fair Value, Inputs, Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 110,602,000 158,999,000
Idaho Power Company | Fair Value, Inputs, Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 0 0
Idaho Power Company | Fair Value, Inputs, Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds $ 0 $ 0
[1] Holding company only. Does not include amounts held by Idaho Power.
v3.25.4
FAIR VALUE MEASUREMENTS: Fair Value Carrying Amounts and Estimated Fair Values (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Carrying Amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable [1] $ 1,507 $ 2,155
Long-term debt [1] 3,447,338 3,073,662
Debt Securities, Held-to-Maturity, Fair Value [1] 33,822 32,151
Carrying Amount | Idaho Power Company    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt [1] 3,447,338 3,073,662
Debt Securities, Held-to-Maturity, Fair Value [1] 33,822 32,151
Estimated Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable [1] 1,507 2,155
Long-term debt [1] 3,270,200 2,807,803
Debt Securities, Held-to-Maturity, Fair Value [1] 32,468 29,428
Estimated Fair Value | Idaho Power Company    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt [1] 3,270,200 2,807,803
Debt Securities, Held-to-Maturity, Fair Value [1] $ 32,468 $ 29,428
[1] Notes receivable are categorized as Level 3 and held-to-maturity securities and long-term debt are categorized as Level 2 of the fair value hierarchy, as defined earlier in this Note 17 - "Fair Value Measurements."
v3.25.4
SEGMENT INFORMATION (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Revenues $ 1,812,997 $ 1,826,633 $ 1,766,356
Electric utility revenues 1,809,609 1,822,965 1,762,894
Depreciation 251,072 223,410 195,341
Operating income 353,976 327,839 313,477
Other income, net 76,516 64,006 51,378
Interest income 43,195 44,485 28,365
Earnings of unconsolidated equity-method investments 4,922 4,539 12,426
Interest on long-term debt 168,191 135,865 116,457
Income before income taxes 310,418 305,004 289,189
Income tax expense (benefit) (13,715) 15,053 27,296
Income attributable to IDACORP, Inc. 323,472 289,174 261,195
Total assets 10,225,437 9,239,363 8,475,918
Segment, Expenditure, Addition to Long-Lived Assets 1,179,327 1,009,279 611,137
Consolidation, Eliminations      
Segment Reporting Information [Line Items]      
Revenues 0 0 0
Depreciation 0 0 0
Operating income 0 0 0
Other income, net 0 0 0
Interest income (2,971) (3,244) (2,832)
Earnings of unconsolidated equity-method investments 0 0 0
Interest on long-term debt (2,971) (3,244) (2,832)
Income before income taxes 0 0 0
Income tax expense (benefit) 0 0 0
Income attributable to IDACORP, Inc. 0 0 0
Total assets (72,977) (77,892) (76,294)
Segment, Expenditure, Addition to Long-Lived Assets $ 0 0 0
Idaho Power Company      
Segment Reporting Information [Line Items]      
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage 33.00%    
Idaho Power Company | Idaho Power      
Segment Reporting Information [Line Items]      
Electric utility revenues $ 1,809,609 1,822,965 1,762,894
Depreciation 251,072 223,410 195,341
Operating income 355,417 328,183 313,379
Other income, net 76,700 64,309 51,424
Interest income 35,337 38,639 26,509
Earnings of unconsolidated equity-method investments 2,984 2,671 10,540
Interest on long-term debt 167,753 135,516 116,117
Income before income taxes 302,685 298,286 285,736
Income tax expense (benefit) (13,177) 17,681 28,926
Income attributable to IDACORP, Inc. 315,862 280,605 256,810
Total assets 10,036,896 8,966,968 8,323,531
Segment, Expenditure, Addition to Long-Lived Assets 1,178,990 1,009,138 610,913
All Other | Idaho Power      
Segment Reporting Information [Line Items]      
Revenues 3,388 3,668 3,462
Depreciation 0 0 0
Operating income (1,441) (344) 98
Other income, net (184) (303) (46)
Interest income 10,829 9,090 4,688
Earnings of unconsolidated equity-method investments 1,938 1,868 1,886
Interest on long-term debt 3,409 3,593 3,172
Income before income taxes 7,733 6,718 3,453
Income tax expense (benefit) (538) (2,628) (1,630)
Income attributable to IDACORP, Inc. 7,610 8,569 4,385
Total assets 261,518 350,287 228,681
Segment, Expenditure, Addition to Long-Lived Assets $ 337 $ 141 $ 224
v3.25.4
OTHER INCOME AND EXPENSE Other Income and Expense Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of other nonoperating income (expense) [Line Items]      
Interest and dividend income, net $ 23,872 $ 22,577 $ 15,266
Carrying charges on regulatory assets 19,323 21,908 13,099
Net periodic benefit cost 5,986 8,077 6,513
Income from life insurance investments 13,244 10,186 8,384
Other Income 6,769 8,659 6,286
Other (income) expense, net 57,222 55,253 36,522
Idaho Power Company      
Schedule of other nonoperating income (expense) [Line Items]      
Interest and dividend income, net 16,014 16,731 13,410
Carrying charges on regulatory assets 19,323 21,908 13,099
Net periodic benefit cost 5,986 8,077 6,513
Income from life insurance investments 13,244 10,186 8,384
Other Income 6,953 8,962 6,333
Other (income) expense, net $ 49,548 $ 49,710 $ 34,713
v3.25.4
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
AOCI - Beginning Balance $ 3,330,954 $ 2,907,569  
Reclassifications 682 1,138 $ 586
AOCI - Ending Balance 3,571,874 3,330,954 2,907,569
Accumulated Defined Benefit Pension Items      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
AOCI - Beginning Balance (13,592) (17,184) (12,922)
Other comprehensive income before reclassifications (2,034) 2,454 (4,848)
Reclassifications 682 1,138 586
Other Comprehensive Income (Loss) (1,352) 3,592 (4,262)
AOCI - Ending Balance (14,944) (13,592) (17,184)
Other Comprehensive Income (Loss) before Reclassifications, Tax (374) 851 (1,680)
Reclassification from AOCI, Current Period, Tax $ (229) $ (394) $ (203)
v3.25.4
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME Reclassifications out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reclassifications out of Accumulated Other Comprehensive Income before Tax [Abstract]      
Reclassifications $ 682 $ 1,138 $ 586
Accumulated Defined Benefit Pension Items      
Reclassifications out of Accumulated Other Comprehensive Income before Tax [Abstract]      
Amortization of prior service cost [1] 221 220 219
Amortization of net loss [1] 690 1,312 570
Total reclassifications, before tax - pension and postretirement benefits [1] 911 1,532 789
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent [2] (229) (394) (203)
Total reclassification, net of tax - pension and postretirement benefits 682 1,138 586
Reclassifications $ 682 $ 1,138 $ 586
[1] Amortization of these items is included in "Other (income) expense, net" in the consolidated income statements of both IDACORP and Idaho Power.
[2] The tax benefit is included in "Income tax expense" in the consolidated income statements of both IDACORP and Idaho Power
v3.25.4
RELATED PARTY TRANSACTIONS: Related Party Transactions Level 4 (Details) - Idaho Power Company - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
IDACORP      
Related Party Transaction      
Revenues $ 1.5 $ 1.1 $ 1.1
Subsidiary of Common Parent [Member]      
Related Party Transaction      
Accounts Payable 3.3 3.2  
Ida-West      
Related Party Transaction      
Costs and Expenses, Related Party $ 9.5 $ 9.6 $ 9.1
v3.25.4
SALE OF OREGON ASSETS (Details)
$ in Thousands
Feb. 13, 2026
USD ($)
Subsequent Event | Idaho Power Company  
Sale of Oregon Assets [Line Items]  
Asset Disposal, Sale Price, Expected $ 154,000
v3.25.4
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income:      
Equity in income of subsidiaries $ 4,922 $ 4,539 $ 12,426
Operating income 353,976 327,839 313,477
Expenses:      
Operating expenses 1,459,021 1,498,794 1,452,879
Interest on long-term debt 168,191 135,865 116,457
Other expenses (57,222) (55,253) (36,522)
Income before income taxes 310,418 305,004 289,189
Income Tax Expense (13,715) 15,053 27,296
Net income attributable to IDACORP, Inc. 323,472 289,174 261,195
Comprehensive Income Attributable to IDACORP, Inc. 322,120 292,766 256,933
IDACORP      
Income:      
Equity in income of subsidiaries 321,927 289,689 262,081
Investment income 7,539 3,976 1,932
Operating income 329,466 293,665 264,013
Expenses:      
Operating expenses 930 621 553
Interest on long-term debt 3,307 3,593 3,171
Other expenses 2,000 1,300 200
Total expenses 6,237 5,514 3,924
Income before income taxes 323,229 288,151 260,089
Income Tax Expense (243) (1,023) (1,106)
Net income attributable to IDACORP, Inc. 323,472 289,174 261,195
Other comprehensive (loss) income (1,352) 3,592 (4,262)
Comprehensive Income Attributable to IDACORP, Inc. $ 322,120 $ 292,766 $ 256,933
v3.25.4
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:      
Net cash provided by operating activities $ 601,838 $ 594,417 $ 267,027
Investing Activities:      
Net cash used in investing activities (1,028,904) (917,661) (589,947)
Financing Activities:      
Proceeds from Issuance of Common Stock 97,777 298,450 0
Dividends on common stock (188,482) (176,565) (163,545)
Other (5,321) (3,437) (403)
Net cash used in financing activities 273,919 364,680 472,772
Net (decrease) increase in cash and cash equivalents (153,147) 41,436 149,852
Cash and cash equivalents at beginning of the year 368,865 327,429 177,577
Cash and cash equivalents at end of the year 215,718 368,865 327,429
IDACORP      
Operating Activities:      
Net cash provided by operating activities 215,505 194,597 154,190
Payments to Acquire Additional Interest in Subsidiaries 195,000 200,000 0
Investing Activities:      
Payments to Acquire Short-term Investments (2,419) (651) (1,002)
Proceeds from Maturities, Prepayments and Calls of Short-term Investments 385 0 0
Net cash used in investing activities (197,034) (200,651) (1,002)
Financing Activities:      
Proceeds from Issuance of Common Stock 97,777 (298,450) 0
Dividends on common stock (187,633) (175,615) (162,646)
Other (3,625) (4,015) (3,533)
Net cash used in financing activities (101,433) 130,250 (166,461)
Net (decrease) increase in cash and cash equivalents (82,962) 124,196 (13,273)
Cash and cash equivalents at beginning of the year 178,094 53,898 67,171
Cash and cash equivalents at end of the year 95,132 178,094 53,898
IDACORP | Related Party      
Financing Activities:      
Change in intercompany notes payable $ (7,952) $ 11,430 $ (282)
v3.25.4
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED BALANCE SHEETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current Assets:      
Cash and cash equivalents $ 215,718 $ 368,865  
Income taxes receivable 8,669 13,932  
Other 3 0  
Total current assets 833,404 988,455  
Other Assets:      
Other 55,986 62,131  
Total other assets 1,589,085 1,572,250  
Total assets 10,225,437 9,239,363 $ 8,475,918
Other Liabilities:      
Other 229,830 181,804  
IDACORP, Inc. Shareholders’ Equity 3,571,874 3,330,954 $ 2,907,569
Total 10,225,437 9,239,363  
IDACORP      
Current Assets:      
Cash and cash equivalents 95,132 178,094  
Receivables 1,923 2,646  
Income taxes receivable 7,091 2,350  
Other 103 107  
Total current assets 104,249 183,197  
Investment in subsidiaries 3,534,519 3,210,209  
Other Assets:      
Deferred income taxes 2,363 11,829  
Other 381 397  
Total other assets 2,744 12,226  
Total assets 3,641,512 3,405,632  
Other Liabilities:      
Other 347 406  
Total other liabilities 69,638 74,678  
IDACORP, Inc. Shareholders’ Equity 3,571,874 3,330,954  
Total 3,641,512 3,405,632  
IDACORP | Related Party      
Other Liabilities:      
Notes Payable $ 69,291 $ 74,272  
v3.25.4
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Basis of Presentation (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
IDACORP      
Condensed Financial Statements, Captions [Line Items]      
Proceeds from Dividends Received $ 193,000,000 $ 177,000,000 $ 105,000,000
v3.25.4
Schedule II - Consolidated Valuation and Qualifying Accounts Schedule II - Consolidated Valuation and Qualifying Accounts Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reserve for uncollectible accounts      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation Allowances and Reserves, Beginning Balance $ 5,699 $ 5,585 $ 5,546
Valuation Allowances and Reserves, Charged to Income 3,009 4,523 3,527
Valuation Allowances and Reserves, Charged (Credited) to Other Accounts 471 1,302 975
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction [1] 4,754 5,711 4,463
Valuation Allowances and Reserves, Ending Balance 4,425 5,699 5,585
Injuries and damages      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation Allowances and Reserves, Beginning Balance 3,627 3,275 2,802
Valuation Allowances and Reserves, Charged to Income 799 992 974
Valuation Allowances and Reserves, Charged (Credited) to Other Accounts 0 0 0
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction [1] 1,473 640 501
Valuation Allowances and Reserves, Ending Balance $ 2,953 $ 3,627 $ 3,275
[1] Represents deductions from the reserves for purposes for which the reserves were created. In the case of uncollectible accounts, and notes reserves, includes reversals of amounts previously reserved.