IDACORP INC, 10-Q filed on 10/30/2025
Quarterly Report
v3.25.3
Cover - shares
 9 Months Ended
Sep. 30, 2025
Oct. 24, 2025
Document Information    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
Document Transition Report false  
Entity File Number 1-14465  
Entity Registrant Name IDACORP, Inc.  
Entity Tax Identification Number 82-0505802  
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 Current Reporting Status Yes  
Entity Incorporation, State or Country Code ID  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Title of 12(b) Security Common Stock  
Trading Symbol IDA  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   54,045,224
Entity Central Index Key 0001057877  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Entity Information, Former Legal or Registered Name None  
Idaho Power Company    
Document Information    
Entity File Number 1-3198  
Entity Registrant Name Idaho Power Company  
Entity Tax Identification Number 82-0130980  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   39,150,812
Entity Central Index Key 0000049648  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.25.3
Consolidated Statements of Income Statement - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating Revenues:        
Electric utility revenues $ 523,549 $ 527,487 $ 1,405,173 $ 1,425,606
Other 868 1,040 2,581 2,896
Total operating revenues 524,417 528,527 1,407,754 1,428,502
Operating Expenses:        
Purchased power 121,276 114,578 284,163 321,860
Fuel expense 74,992 73,471 179,238 188,411
Power cost adjustment (18,295) 20,779 57,967 102,297
Other operations and maintenance 120,398 116,168 355,371 332,900
Energy efficiency programs 7,460 5,283 18,808 16,699
Depreciation and amortization 64,493 56,388 185,407 165,133
Other electric utility operating expenses, net 8,112 7,453 24,053 12,482
Total electric utility operating expenses 378,436 394,120 1,105,007 1,139,782
Other 1,160 698 2,424 2,145
Total operating expenses 379,596 394,818 1,107,431 1,141,927
Operating Income 144,821 133,709 300,323 286,575
Nonoperating (Income) Expense:        
Allowance for equity funds used during construction (15,569) (15,179) (45,177) (39,610)
Earnings of unconsolidated equity-method investments (2,185) (1,978) (4,208) (3,880)
Interest on long-term debt and finance leases 46,244 35,432 128,733 102,048
Other interest 7,847 6,353 21,696 17,895
Allowance for borrowed funds used during construction (9,207) (7,639) (26,075) (20,518)
Other income, net (14,604) (13,478) (43,582) (40,188)
Total nonoperating expense, net 12,526 3,511 31,387 15,747
Income Before Income Taxes 132,295 130,198 268,936 270,828
Income Tax Expense (Benefit) 7,686 16,358 (11,460) 18,876
Net Income 124,609 113,840 280,396 251,952
Income attributable to noncontrolling interests (172) (235) (531) (654)
Net Income Attributable to IDACORP, Inc. $ 124,437 $ 113,605 $ 279,865 $ 251,298
Weighted-average common shares outstanding - basic (in shares) 54,172 53,386 54,147 52,112
Weighted-average common shares outstanding - diluted (in shares) 55,055 53,485 54,522 52,179
Earnings Per Share of Common Stock:        
Earnings attributable to IDACORP, Inc. - basic (in dollars per share) $ 2.30 $ 2.13 $ 5.17 $ 4.82
Earnings attributable to IDACORP, Inc. - diluted (in dollars per share) $ 2.26 $ 2.12 $ 5.13 $ 4.82
v3.25.3
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 124,609 $ 113,840 $ 280,396 $ 251,952
Other Comprehensive Income:        
Unfunded pension liability adjustment, net of tax of $57, $99, $302 and $296, respectively 171 285 282 853
Total Comprehensive Income 124,780 114,125 280,678 252,805
Comprehensive Income attributable to noncontrolling interests (172) (235) (531) (654)
Comprehensive Income Attributable to IDACORP, Inc. $ 124,608 $ 113,890 $ 280,147 $ 252,151
v3.25.3
Consolidated Balance Sheets Statement - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 333,209 $ 368,865
Receivables:    
Customer 139,079 114,824
Other 49,016 29,627
Income taxes receivable 0 13,932
Accrued unbilled revenues 90,582 97,711
Materials and supplies (at average cost) 207,103 201,064
Fuel stock (at average cost) 29,858 43,656
Prepayments 30,651 29,461
Current regulatory assets 80,803 89,315
Other 104 0
Total current assets 960,405 988,455
Investments 154,896 161,340
Property, Plant and Equipment:    
Utility plant in service 8,333,801 7,957,763
Accumulated provision for depreciation (2,837,096) (2,714,706)
Utility plant in service - net 5,496,705 5,243,057
Construction work in progress 1,619,882 1,244,559
Finance lease right-of-use assets 222,445 0
Utility plant held for future use 19,281 13,211
Other property, net of accumulated depreciation 16,678 16,491
Property, plant and equipment - net 7,374,991 6,517,318
Other Assets:    
Company-owned life insurance 101,696 92,062
Regulatory assets 1,429,218 1,418,057
Other 54,779 62,131
Total other assets 1,585,693 1,572,250
Total assets 10,075,985 9,239,363
Current Liabilities:    
Current maturities of long-term debt 116,300 19,885
Accounts payable 317,375 307,133
Taxes accrued 45,617 6,981
Interest accrued 36,586 42,681
Accrued compensation 74,782 70,548
Current regulatory liabilities 40,974 7,523
Advances from customers 185,620 165,229
Other 67,941 80,821
Total current liabilities 885,195 700,801
Other Liabilities:    
Deferred Income Tax 780,060 822,231
Regulatory liabilities 1,009,989 976,803
Pension and other postretirement benefits 161,247 165,992
Finance lease liabilities 218,182 0
Other 201,945 181,804
Total other liabilities 2,371,423 2,146,830
Long-Term Debt 3,330,752 3,053,777
Commitments and Contingencies
Equity:    
Common stock 1,205,219 1,194,998
Retained earnings 2,289,174 2,149,548
Accumulated other comprehensive loss (13,310) (13,592)
Total shareholders’ equity 3,481,083 3,330,954
Noncontrolling interests 7,532 7,001
Total equity 3,488,615 3,337,955
Total $ 10,075,985 $ 9,239,363
v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities:    
Net income $ 280,396 $ 251,952
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 190,260 168,607
Deferred income taxes and investment tax credits (49,721) (34,699)
Changes in regulatory assets and liabilities 92,160 124,549
Pension and postretirement benefit plan expense 33,911 34,359
Contributions to pension and postretirement benefit plans (25,263) (23,967)
Earnings of unconsolidated equity-method investments (4,208) (3,880)
Distributions from equity-method investments 4,250 3,950
Allowance for equity funds used during construction (45,177) (39,610)
Other non-cash adjustments to net income, net 6,534 4,629
Change in:    
Accounts receivable and unbilled receivables (30,770) 658
Prepayments (3,656) (7,931)
Materials, supplies, and fuel stock 7,759 (59,105)
Accounts and wages payable (33,619) (33,044)
Taxes accrued/receivable 52,568 56,001
Other assets and liabilities (11,359) 15,513
Net cash provided by operating activities 464,065 457,982
Investing Activities:    
Additions to property, plant and equipment, net (825,352) (823,969)
Payments received from transmission project joint funding partners 91,966 58,750
Other 2,625 8,805
Net cash used in investing activities (730,761) (756,414)
Financing Activities:    
Issuance of long-term debt 400,000 300,000
Discount on issuance of long-term debt (3,072) (186)
Retirement of long-term debt (19,885) 0
Payments on finance lease liabilities (2,368) 0
Dividends on common stock (140,000) (129,152)
Issuance of Common Stock 4,541 234,672
Tax withholdings on net settlements of share-based awards (3,303) (3,782)
Other (4,873) (2,599)
Net cash provided by financing activities 231,040 398,953
Net (decrease) increase in cash and cash equivalents (35,656) 100,521
Cash and cash equivalents at beginning of the period 368,865 327,429
Cash and cash equivalents at end of the period 333,209 427,950
Supplemental Disclosure of Cash Flow Information:    
Cash paid for income taxes 5,790 8,830
Cash paid for interest (net of amount capitalized) 115,138 88,391
Non-cash investing and financing activities:    
Additions to property, plant and equipment in accounts payable 211,545 144,232
Right-of-use asset obtained in exchange for finance lease liability $ 226,618 $ 0
v3.25.3
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Common Stock
Common Stock Including Additional Paid in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Beginning balance at Dec. 31, 2023   $ 888,615   $ 2,036,138 $ (17,184) $ 7,174
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Issued During Period, Value, New Issues   234,672        
Share-based compensation expense     $ 8,280      
Tax withholdings on net settlements of share-based awards   (3,782)        
Other   (42)        
Net Income Attributable to IDACORP, Inc. $ 251,298     251,298    
Common stock dividends       (129,103)    
Unfunded pension liability adjustment (net of tax) 853       853  
Income attributable to noncontrolling interests (654)         654
Ending balance at Sep. 30, 2024 3,277,573 1,127,743   2,158,333 (16,331) 7,828
Beginning balance at Jun. 30, 2024   1,123,745   2,089,185 (16,616) 7,593
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Issued During Period, Value, New Issues   1,494        
Share-based compensation expense     2,709      
Tax withholdings on net settlements of share-based awards   (88)        
Other   (117)        
Net Income Attributable to IDACORP, Inc. 113,605     113,605    
Common stock dividends       (44,457)    
Unfunded pension liability adjustment (net of tax) 285       285  
Income attributable to noncontrolling interests (235)         235
Ending balance at Sep. 30, 2024 3,277,573 1,127,743   2,158,333 (16,331) 7,828
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Total IDACORP, Inc. shareholders’ equity 3,269,745     3,277,573    
Total IDACORP, Inc. shareholders’ equity 3,330,954          
Beginning 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]            
Stock Issued During Period, Value, New Issues   4,541        
Share-based compensation expense     9,066      
Tax withholdings on net settlements of share-based awards   (3,303)        
Other   (83)        
Net Income Attributable to IDACORP, Inc. 279,865     279,865    
Common stock dividends       (140,239)    
Unfunded pension liability adjustment (net of tax) 282       282  
Income attributable to noncontrolling interests (531)         531
Ending balance at Sep. 30, 2025 3,488,615 1,205,219   2,289,174 (13,310) 7,532
Beginning balance at Jun. 30, 2025   1,201,374   2,211,514 (13,481) 7,360
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Issued During Period, Value, New Issues   1,487        
Share-based compensation expense     $ 2,391      
Tax withholdings on net settlements of share-based awards   (9)        
Other   (24)        
Net Income Attributable to IDACORP, Inc. 124,437     124,437    
Common stock dividends       (46,777)    
Unfunded pension liability adjustment (net of tax) 171       171  
Income attributable to noncontrolling interests (172)         172
Ending balance at Sep. 30, 2025 3,488,615 $ 1,205,219   2,289,174 $ (13,310) $ 7,532
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Total IDACORP, Inc. shareholders’ equity $ 3,481,083     $ 3,488,615    
v3.25.3
Idaho Power Company Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Regulated Operating Revenue        
Electric utility revenues $ 523,549 $ 527,487 $ 1,405,173 $ 1,425,606
Operating Expenses [Abstract]        
Purchased power 121,276 114,578 284,163 321,860
Fuel expense 74,992 73,471 179,238 188,411
Power cost adjustment (18,295) 20,779 57,967 102,297
Other operations and maintenance 120,398 116,168 355,371 332,900
Energy efficiency programs 7,460 5,283 18,808 16,699
Depreciation and amortization 64,493 56,388 185,407 165,133
Other electric utility operating expenses, net 8,112 7,453 24,053 12,482
Total electric utility operating expenses 378,436 394,120 1,105,007 1,139,782
Operating Income 144,821 133,709 300,323 286,575
Nonoperating (Income) Expense:        
Allowance for equity funds used during construction (15,569) (15,179) (45,177) (39,610)
Earnings of unconsolidated equity-method investments (2,185) (1,978) (4,208) (3,880)
Interest on long-term debt and finance leases 46,244 35,432 128,733 102,048
Other interest 7,847 6,353 21,696 17,895
Allowance for borrowed funds used during construction (9,207) (7,639) (26,075) (20,518)
Other income, net (14,604) (13,478) (43,582) (40,188)
Total nonoperating expense, net 12,526 3,511 31,387 15,747
Income Before Income Taxes 132,295 130,198 268,936 270,828
Income Tax Expense (Benefit) 7,686 16,358 (11,460) 18,876
Net income 124,609 113,840 280,396 251,952
Idaho Power Company        
Regulated Operating Revenue        
Electric utility revenues 523,549 527,487 1,405,173 1,425,606
Operating Expenses [Abstract]        
Purchased power 121,276 114,578 284,163 321,860
Fuel expense 74,992 73,471 179,238 188,411
Power cost adjustment (18,295) 20,779 57,967 102,297
Other operations and maintenance 120,398 116,168 355,371 332,900
Energy efficiency programs 7,460 5,283 18,808 16,699
Depreciation and amortization 64,493 56,388 185,407 165,133
Other electric utility operating expenses, net 8,112 7,453 24,053 12,482
Total electric utility operating expenses 378,436 394,120 1,105,007 1,139,782
Operating Income 145,113 133,367 300,166 285,824
Nonoperating (Income) Expense:        
Allowance for equity funds used during construction (15,569) (15,179) (45,177) (39,610)
Earnings of unconsolidated equity-method investments (996) (841) (2,150) (1,936)
Interest on long-term debt and finance leases 46,244 35,432 128,733 102,048
Other interest 7,759 6,268 21,361 17,645
Allowance for borrowed funds used during construction (9,207) (7,639) (26,075) (20,518)
Other income, net (12,595) (12,207) (37,563) (37,469)
Total nonoperating expense, net 15,636 5,834 39,129 20,160
Income Before Income Taxes 129,477 127,533 261,037 265,664
Income Tax Expense (Benefit) 7,321 16,444 (12,084) 19,885
Net income $ 122,156 $ 111,089 $ 273,121 $ 245,779
v3.25.3
Idaho Power Company Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net income $ 124,609 $ 113,840 $ 280,396 $ 251,952
Other Comprehensive Income:        
Unfunded pension liability adjustment, net of tax of $57, $99, $302 and $296, respectively 171 285 282 853
Total Comprehensive Income 124,780 114,125 280,678 252,805
Idaho Power Company        
Net income 122,156 111,089 273,121 245,779
Other Comprehensive Income:        
Unfunded pension liability adjustment, net of tax of $57, $99, $302 and $296, respectively 171 285 282 853
Total Comprehensive Income $ 122,327 $ 111,374 $ 273,403 $ 246,632
v3.25.3
Idaho Power Company Consolidated Balance Sheet - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 333,209 $ 368,865
Receivables [Abstract]    
Customer 139,079 114,824
Other 49,016 29,627
Income taxes receivable 0 13,932
Accrued unbilled revenues 90,582 97,711
Materials and supplies (at average cost) 207,103 201,064
Fuel stock (at average cost) 29,858 43,656
Prepayments 30,651 29,461
Current regulatory assets 80,803 89,315
Other 104 0
Total current assets 960,405 988,455
Investments 154,896 161,340
Property, Plant and Equipment [Abstract]    
Utility plant in service 8,333,801 7,957,763
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation (2,837,096) (2,714,706)
Utility plant in service - net 5,496,705 5,243,057
Construction work in progress 1,619,882 1,244,559
Finance lease right-of-use assets 222,445 0
Utility plant held for future use 19,281 13,211
Other property, net of accumulated depreciation 16,678 16,491
Property, plant and equipment - net 7,374,991 6,517,318
Other Assets:    
Company-owned life insurance 101,696 92,062
Regulatory assets 1,429,218 1,418,057
Other 54,779 62,131
Total other assets 1,585,693 1,572,250
Total assets 10,075,985 9,239,363
Current Liabilities:    
Current maturities of long-term debt 116,300 19,885
Accounts payable 317,375 307,133
Taxes accrued 45,617 6,981
Interest accrued 36,586 42,681
Accrued compensation 74,782 70,548
Current regulatory liabilities 40,974 7,523
Advances from customers 185,620 165,229
Other 67,941 80,821
Total current liabilities 885,195 700,801
Other Liabilities [Abstract]    
Deferred Income Tax 780,060 822,231
Regulatory liabilities 1,009,989 976,803
Pension and other postretirement benefits 161,247 165,992
Finance lease liabilities 218,182 0
Other 201,945 181,804
Total other liabilities 2,371,423 2,146,830
Long-Term Debt 3,330,752 3,053,777
Commitments and Contingencies
Equity [Abstract]    
Common stock 1,205,219 1,194,998
Retained earnings 2,289,174 2,149,548
Accumulated other comprehensive loss (13,310) (13,592)
Total shareholders’ equity 3,481,083 3,330,954
Total 10,075,985 9,239,363
Idaho Power Company    
Current Assets:    
Cash and cash equivalents 167,519 188,916
Receivables [Abstract]    
Customer 139,079 114,824
Other 48,308 28,874
Income taxes receivable 0 11,811
Accrued unbilled revenues 90,582 97,711
Materials and supplies (at average cost) 207,103 201,064
Fuel stock (at average cost) 29,858 43,656
Prepayments 30,531 29,328
Current regulatory assets 80,803 89,315
Other 104 0
Total current assets 793,887 805,499
Investments 89,006 92,921
Property, Plant and Equipment [Abstract]    
Utility plant in service 8,333,801 7,957,763
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation (2,837,096) (2,714,706)
Utility plant in service - net 5,496,705 5,243,057
Construction work in progress 1,619,882 1,244,559
Finance lease right-of-use assets 222,445 0
Utility plant held for future use 19,281 13,211
Other property, net of accumulated depreciation 5,173 4,858
Property, plant and equipment - net 7,363,486 6,505,685
Other Assets:    
Company-owned life insurance 101,696 92,062
Regulatory assets 1,429,218 1,418,057
Other 47,819 52,744
Total other assets 1,578,733 1,562,863
Total assets 9,825,112 8,966,968
Current Liabilities:    
Current maturities of long-term debt 116,300 19,885
Accounts payable 316,973 305,248
Taxes accrued 52,731 6,981
Interest accrued 36,534 42,681
Accrued compensation 74,467 70,319
Current regulatory liabilities 40,974 7,523
Advances from customers 185,620 165,229
Other 54,309 61,309
Total current liabilities 899,617 682,578
Other Liabilities [Abstract]    
Deferred Income Tax 786,023 829,446
Regulatory liabilities 1,009,989 976,803
Pension and other postretirement benefits 161,247 165,992
Finance lease liabilities 218,182 0
Other 195,541 167,775
Total other liabilities 2,370,982 2,140,016
Long-Term Debt 3,330,752 3,053,777
Commitments and Contingencies
Equity [Abstract]    
Common stock 97,877 97,877
Premium on capital stock 912,258 912,258
Capital stock issuance costs (2,097) (2,097)
Retained earnings 2,229,033 2,096,151
Accumulated other comprehensive loss (13,310) (13,592)
Total shareholders’ equity 3,223,761 3,090,597
Total 9,825,112 8,966,968
Idaho Power Company | Related Party    
Current Liabilities:    
Accounts Payable, Other $ 21,709 $ 3,403
v3.25.3
Idaho Power Company Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Net income $ 280,396 $ 251,952
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 190,260 168,607
Deferred income taxes and investment tax credits (49,721) (34,699)
Changes in regulatory assets and liabilities 92,160 124,549
Pension and postretirement benefit plan expense 33,911 34,359
Contributions to pension and postretirement benefit plans (25,263) (23,967)
Earnings of unconsolidated equity-method investments (4,208) (3,880)
Distributions from equity-method investments 4,250 3,950
Allowance for equity funds used during construction (45,177) (39,610)
Other non-cash adjustments to net income, net 6,534 4,629
Change in:    
Accounts receivable and unbilled receivables (30,770) 658
Prepayments (3,656) (7,931)
Materials, supplies, and fuel stock 7,759 (59,105)
Accounts and wages payable (33,619) (33,044)
Taxes accrued/receivable 52,568 56,001
Other assets and liabilities (11,359) 15,513
Net cash provided by operating activities 464,065 457,982
Investing Activities:    
Additions to utility plant, net (825,352) (823,969)
Payments received from transmission project joint funding partners 91,966 58,750
Other 2,625 8,805
Net cash used in investing activities (730,761) (756,414)
Financing Activities:    
Issuance of long-term debt 400,000 300,000
Discount on issuance of long-term debt (3,072) (186)
Retirement of long-term debt (19,885) 0
Payments on finance lease liabilities (2,368) 0
Dividends on common stock (140,000) (129,152)
Other (4,873) (2,599)
Net cash provided by financing activities 231,040 398,953
Net (decrease) increase in cash and cash equivalents (35,656) 100,521
Cash and cash equivalents at beginning of the period 368,865 327,429
Cash and cash equivalents at end of the period 333,209 427,950
Supplemental Disclosure of Cash Flow Information:    
Cash received from IDACORP related to income taxes 5,790 8,830
Cash paid for interest (net of amount capitalized) 115,138 88,391
Non-cash investing and financing activities:    
Additions to utility plant in accounts payable 211,545 144,232
Right-of-use asset obtained in exchange for finance lease liability 226,618 0
Idaho Power Company    
Net income 273,121 245,779
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 189,807 168,150
Deferred income taxes and investment tax credits (57,000) (39,823)
Changes in regulatory assets and liabilities 92,160 124,549
Pension and postretirement benefit plan expense 33,911 34,322
Contributions to pension and postretirement benefit plans (25,263) (23,930)
Earnings of unconsolidated equity-method investments (2,150) (1,936)
Distributions from equity-method investments 3,350 3,100
Allowance for equity funds used during construction (45,177) (39,610)
Other non-cash adjustments to net income, net (3,060) (3,843)
Change in:    
Accounts receivable and unbilled receivables (32,366) 1,094
Prepayments (3,670) (7,938)
Materials, supplies, and fuel stock 7,759 (59,105)
Accounts and wages payable (12,643) 4,644
Taxes accrued/receivable 57,562 48,753
Other assets and liabilities (11,322) 15,545
Net cash provided by operating activities 465,019 469,751
Investing Activities:    
Additions to utility plant, net (825,100) (823,855)
Payments received from transmission project joint funding partners 91,966 58,750
Other 16,621 11,999
Net cash used in investing activities (716,513) (753,106)
Financing Activities:    
Issuance of long-term debt 400,000 300,000
Discount on issuance of long-term debt (3,072) (186)
Retirement of long-term debt (19,885) 0
Payments on finance lease liabilities (2,368) 0
Dividends on common stock (140,128) (129,268)
Capital contribution from parent 0 200,000
Other (4,450) (2,283)
Net cash provided by financing activities 230,097 368,263
Net (decrease) increase in cash and cash equivalents (21,397) 84,908
Cash and cash equivalents at beginning of the period 188,916 271,791
Cash and cash equivalents at end of the period 167,519 356,699
Supplemental Disclosure of Cash Flow Information:    
Cash received from IDACORP related to income taxes (21,600) (15,483)
Cash paid for interest (net of amount capitalized) 114,854 88,193
Non-cash investing and financing activities:    
Additions to utility plant in accounts payable 211,545 144,232
Right-of-use asset obtained in exchange for finance lease liability $ 226,618 $ 0
v3.25.3
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Unfunded pension liability adjustment, tax $ 57 $ 99 $ 302 $ 296
v3.25.3
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Accounts Receivable, Allowance for Credit Loss, Current $ 4,341 $ 5,071
Allowance for Doubtful Other Receivables, Current $ 703 $ 628
Common Stock, Shares Authorized 120,000,000 120,000,000
Common Stock, Shares, Issued 54,045,000 53,962,000
v3.25.3
Consolidated Statements of Equity (Parenthetical) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2024
Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]        
Common stock dividends, per share (in dollar per share) $ 0.86 $ 0.83 $ 2.58 $ 2.49
v3.25.3
Idaho Power Company Statement of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Unfunded pension liability adjustment, tax $ (57) $ (99) $ (302) $ (296)
Idaho Power Company        
Unfunded pension liability adjustment, tax $ (57) $ (99) $ (302) $ (296)
v3.25.3
Idaho Power company Consolidated Balance Sheet (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Accounts Receivable, Allowance for Credit Loss, Current $ 4,341 $ 5,071
Allowance for Doubtful Other Receivables, Current $ 703 $ 628
Common Stock, Shares Authorized 120,000,000 120,000,000
Common Stock, Shares, Issued 54,045,000 53,962,000
Idaho Power Company    
Accounts Receivable, Allowance for Credit Loss, Current $ 4,341 $ 5,071
Allowance for Doubtful Other Receivables, Current $ 703 $ 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
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
This Quarterly Report on Form 10-Q is a combined report of IDACORP and Idaho Power. Therefore, these Notes to the Condensed 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. 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.

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.

IDACORP's and Idaho Power's financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. 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."

Financial Statements
 
In the opinion of management of IDACORP and Idaho Power, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly each company's condensed consolidated balance sheets as of September 30, 2025, condensed consolidated statements of income for the three months and nine months ended September 30, 2025 and 2024, and condensed consolidated cash flows for the nine months ended September 30, 2025 and 2024. These adjustments are of a normal and recurring nature. These financial statements do not contain the complete detail or note disclosures concerning accounting policies and other matters that would be included in full-year financial statements and should be read in conjunction with the audited consolidated financial statements included in the 2024 Annual Report. The statements of income for the interim period are not necessarily indicative of the results to be expected for the full year. A change in management's estimates or assumptions could have a material impact on IDACORP's or Idaho Power's respective balance sheets and statements of income during the period in which such change occurred.
 
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.
New and Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This ASU is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024, with early adoption permitted. IDACORP and Idaho Power adopted this ASU on January 1, 2024, for annual periods, and subsequently on January 1, 2025, for interim periods. The amendments in this ASU have been applied retrospectively, as required. See Note 14 - "Segment Information" 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 condensed consolidated financial statements.

Recent Accounting Pronouncements Not Yet Adopted

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 have evaluated the impact that adoption of this ASU will have on the notes to their respective financial statements, and the companies do not believe the adoption of the new standard will have a material impact.

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 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 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 condensed consolidated financial statements.
v3.25.3
INCOME TAXES:
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
 
In accordance with interim reporting requirements, IDACORP and Idaho Power use an estimated annual effective tax rate for computing their provisions for income taxes. An estimate of annual income tax expense (or benefit) is made each interim period using estimates for annual pre-tax income, income tax adjustments, and tax credits. The estimated annual effective tax rates do not include discrete events such as tax law changes, examination settlements, accounting method changes, or adjustments to tax expense or benefits attributable to prior years. Discrete events are recorded in the interim period in which they occur or become known. The estimated annual effective tax rate is applied to year-to-date pre-tax income to determine income tax expense (or benefit) for the interim period consistent with the annual estimate. In subsequent interim periods, income tax expense (or benefit) for the period is computed as the difference between the year-to-date amount reported for the previous interim period and the current period's year-to-date amount.
Income Tax Expense

The following table provides a summary of income tax (benefit) expense for the nine months ended September 30, 2025 and 2024 (in thousands): 
 IDACORPIdaho Power
 2025202420252024
Income tax at statutory rates (federal and state)$67,179 $69,543 $65,335 $68,382 
Excess deferred income tax reversal(7,293)(7,535)(7,293)(7,535)
Income tax return adjustments(8,046)1,875 (8,581)1,865 
Other(1)
(24,300)(22,507)(22,545)(20,327)
Income tax expense before ADITC$27,540 $41,376 $26,916 $42,385 
Additional ADITC amortization(39,000)(22,500)(39,000)(22,500)
Income tax (benefit) expense$(11,460)$18,876 $(12,084)$19,885 
Effective tax rate(4.3)%7.0 %(4.6)%7.5 %
(1) "Other" primarily consists of the net tax effect of Idaho Power's regulatory flow-through tax adjustments.
v3.25.3
REGULATORY MATTERS:
 9 Months Ended
Sep. 30, 2025
Public Utilities, Rate Matters [Abstract]  
Regulatory Matters REGULATORY MATTERS
 
Included below is a summary of Idaho Power's most recent general rate cases and base rate changes, as well as other recent or pending notable regulatory matters and proceedings.

Idaho and Oregon Rate Cases

Idaho Power's current base rates result from the IPUC and OPUC orders described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2024 Annual Report. On May 30, 2025, Idaho Power filed a general rate case and proposed rate schedules with the IPUC, Case No. IPC-E-25-16. The filing was based on a 2025 test year and requested approximately $199.1 million in additional Idaho-jurisdiction annual revenues, which is net of a $46.8 million PCA decrease. As filed, this request would have resulted in a 13.09 percent overall average net Idaho-jurisdictional revenue increase for Idaho Power's Idaho customers. The filing requested an authorized rate of return on equity of 10.4 percent with an Idaho retail rate base of approximately $5.1 billion, which is not inclusive of rate base associated with Idaho Power's jointly-owned coal facilities, the costs of which are recovered under separate rate mechanisms. In its application, Idaho Power proposed a capitalization structure of approximately 49 percent long-term debt and 51 percent common stock equity. Idaho Power included an average cost of debt of 5.132 percent and an overall cost of capital of 7.818 percent.

On October 24, 2025, Idaho Power filed a motion for approval of the 2025 Settlement Stipulation with the IPUC related to the Idaho general rate case filing. The 2025 Settlement Stipulation was entered into by Idaho Power, the Staff of the IPUC, and several of the intervening parties. If the IPUC approves the 2025 Settlement Stipulation, it will authorize Idaho Power to adjust rates on January 1, 2026, consistent with the terms contained in the 2025 Settlement Stipulation.

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

•Idaho Power would 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 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 7.410 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 based on the average of monthly average plant balances for January through December 2025);
•a base level net power supply expense (“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 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 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. To the extent IPUC Staff identifies potential prudence concerns with investments after July 2025, it will address those in Idaho Power's next Idaho general rate case. The 2025 Settlement Stipulation does not include a tracking mechanism for incremental depreciation and interest expense that Idaho Power requested as part of the initial rate case filing.

The parties to the 2025 Settlement Stipulation have requested that the IPUC issue an order approving the agreed-upon rates effective January 1, 2026. The 2025 Settlement Stipulation does not preclude Idaho Power from filing another general rate case in Idaho at any time in the future. If the IPUC were to deny the 2025 Settlement Stipulation or materially change its terms, no party would be bound by the terms of the stipulation. As of the date of this report, the IPUC's determination in this matter is pending.

Idaho ADITC Mechanism

The 2018 Settlement Stipulation and the 2023 Settlement Stipulation are each described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2024 Annual Report. The 2023 Settlement Stipulation modified the 2018 Settlement Stipulation in part. The 2023 Settlement Stipulation included provisions for the accelerated amortization of ADITCs to help achieve a minimum 9.12 percent Idaho ROE. If approved by the IPUC, the 2025 Settlement Stipulation would also modify the 2018 Settlement Stipulation in part as described above in "Idaho and Oregon Rate Cases."

Based on its estimate of full-year 2025 Idaho ROE, in the three months and nine months ended September 30, 2025, Idaho Power recorded $2.5 million and $39.0 million, respectively, in additional ADITC amortization under the 2023 Settlement Stipulation. Accordingly, as of September 30, 2025, approximately $38 million of additional ADITC remained available for future use. Idaho Power recorded $2.5 million and $22.5 million of additional ADITC amortization during the three months and nine months ended September 30, 2024, respectively, based on its then-current estimate of full-year 2024 Idaho ROE.

Power Cost Adjustment Mechanisms

In both its Idaho and Oregon jurisdictions, Idaho Power's power cost adjustment mechanisms address the variability 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 credit on the balance sheet for future recovery or refund. The power supply costs deferred primarily result from changes in contracted power purchase prices and volumes, changes in wholesale market prices and transaction volumes, fuel prices, and the levels of Idaho Power's own generation.

In May 2025, the IPUC issued an order approving a $94.8 million decrease in PCA revenues, effective for the 2025-2026 PCA collection period from June 1, 2025, to May 31, 2026, compared to the 2024-2025 PCA collection period. The decrease in PCA revenues is due primarily to the ending of collection of the 2023 PCA balancing adjustment, which was collected over two years as ordered by the IPUC. Increased sales of renewable energy credits also contributed to the decrease. If approved by the IPUC, the 2025 Settlement Stipulation would modify PCA collection effective January 1, 2026, to account for the new base level NPSE of $468.8 million.

In May 2025, the OPUC approved a settlement stipulation between Idaho Power and intervening parties for its APCU in Oregon. The APCU includes both an October update and a March forecast. The results of the October update are reflected as an update to base rates and the results of the March forecast are reflected as an update to APCU rates. The settlement resulted in an overall rate decrease of $1.8 million in Oregon-jurisdictional rates effective June 1, 2025.

Idaho Fixed Cost Adjustment Mechanism
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 kilowatt-hour charge and linking it instead to a set amount per customer. Under Idaho Power's current rate design, Idaho Power recovers a portion of fixed costs through the variable kilowatt-hour 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, if approved by the IPUC, the 2025 Settlement Stipulation would update 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.

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.

Wildfire Mitigation Cost Deferral

In December 2024, Idaho Power filed its 2025 WMP with the OPUC along with an application requesting authorization to defer for future recovery an estimated $3.3 million of newly identified incremental costs expected to be incurred in 2025 associated with expanded wildfire mitigation efforts. The OPUC approved the 2025 WMP in June 2025, and in August 2025, the OPUC granted Idaho Power's request to defer for future recovery the estimated $3.3 million of incremental costs expected to be incurred in 2025 associated with expanded wildfire mitigation efforts. Previously, in December 2023, Idaho Power had filed an application requesting authorization to defer for future recovery an estimated $1.3 million of incremental costs expected to be incurred in 2024 in connection with wildfire mitigation efforts. Such incremental costs related to 2024 were resolved as part of the settlement stipulations for the 2024 Oregon general rate case. In October 2025, Idaho Power filed an application with the OPUC requesting authorization to recover $0.7 million of amortization expense related to deferred 2023 wildfire mitigation costs over a 12-month period beginning January 1, 2026. This request was combined with two other proposed rate adjustments that, if approved, would reflect an overall net decrease of $0.6 million or 0.9 percent.

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.
v3.25.3
REVENUES:
 9 Months Ended
Sep. 30, 2025
Revenues [Abstract]  
REVENUES: REVENUES
 
The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power for the three months and nine months ended September 30, 2025 and 2024 (in thousands):
Three months ended
September 30,		Nine months ended
September 30,
 2025202420252024
Revenue from contracts with customers$526,424 $532,477 $1,386,879 $1,393,006 
Alternative revenue programs and other revenues(2,875)(4,990)18,294 32,600 
Total electric utility operating revenues$523,549 $527,487 $1,405,173 $1,425,606 
Revenues from Contracts with Customers

The following table presents revenues from contracts with customers disaggregated by revenue source for the three months and nine months ended September 30, 2025 and 2024 (in thousands):
Three months ended
September 30,		Nine months ended
September 30,
 2025202420252024
Retail revenues:
Residential (includes $(4,125), $(6,193), $(9,194), and $(8,982), respectively, related to the FCA)(1)
$195,445 $195,291 $535,505 $525,353 
Commercial (includes $(70), $(66), $(150), and $(158), respectively, related to the FCA)(1)
111,510 112,323 304,014 303,031 
Industrial72,079 71,908 205,526 203,990 
Irrigation101,690 109,861 195,172 191,671 
Deferred revenue related to HCC relicensing AFUDC(2)
(2,854)(2,881)(6,848)(6,913)
Total retail revenues477,870 486,502 1,233,369 1,217,132 
Less: FCA mechanism revenues(1)
4,195 6,259 9,344 9,140 
Wholesale energy sales10,520 6,946 45,443 65,759 
Transmission wheeling-related revenues17,856 19,419 53,624 60,142 
Energy efficiency program revenues7,460 5,283 18,808 16,699 
Other revenues from contracts with customers8,523 8,068 26,291 24,134 
Total revenues from contracts with customers$526,424 $532,477 $1,386,879 $1,393,006 
(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, even though the relicensing process is not yet complete and the costs have not been moved to utility plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service. Effective October 1, 2025, this amount will increase by $29.7 million annually; refer to Note 3 - "Regulatory Matters."

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 renewable energy credits. 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 condensed consolidated statements of income. For more information on settled electricity swaps, see Note 12 - "Derivative Financial Instruments."

The table below presents the FCA mechanism revenues and other revenues for the three months and nine months ended September 30, 2025 and 2024 (in thousands):
Three months ended
September 30,		Nine months ended
September 30,
 2025202420252024
FCA mechanism revenues$(4,195)$(6,259)$(9,344)$(9,140)
Derivative revenues1,320 1,269 27,638 41,740 
Total alternative revenue programs and other revenues$(2,875)$(4,990)$18,294 $32,600 
Receivables and Allowance for Uncollectible Accounts

The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables for the nine months ended September 30, 2025 and 2024 (in thousands):
Nine months ended
September 30,
 20252024
Balance at beginning of period$5,071 $4,869 
Additions to the allowance2,658 1,744 
Write-offs, net of recoveries(3,388)(3,317)
Balance at end of period$4,341 $3,296 
Allowance for uncollectible accounts as a percentage of customer receivables3.0 %2.2 %
v3.25.3
LONG-TERM DEBT
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
Long-Term Debt Issuances, Maturities, and Redemptions

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

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.

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 September 30, 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 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 September 30, 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 September 30, 2025, Idaho Power could issue approximately $2.0 billion of additional first mortgage bonds under that aggregate cap.
v3.25.3
COMMON STOCK:
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Common Stock COMMON STOCK
 
IDACORP Common Stock
 
During the nine months ended September 30, 2025, IDACORP issued an aggregate of 82,924 shares of common stock using original issuances of shares. IDACORP granted 82,344 restricted stock unit awards and issued 35,475 shares of common stock to employees pursuant to the IDACORP, Inc. 2000 Long-Term Incentive and Compensation Plan, and issued an additional 9,273 shares of common stock to members of the board of directors. IDACORP issued 38,176 shares of common stock pursuant to its IDACORP, Inc. Dividend Reinvestment and Stock Purchase Plan.

Equity Forward Sale Agreements: 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 September 30, 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 $561.0 million. The FSAs could have also been settled at September 30, 2025, with delivery of approximately $81.6 million of cash or approximately 658,896 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.

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. During the three months and nine months ended September 30, 2025, IDACORP did not issue common stock pursuant to the EDA.

During the nine months ended September 30, 2025, IDACORP executed FSAs under its ATM offering program with various counterparties who borrowed and sold 452,256 shares of IDACORP’s common stock at an aggregate gross sales price of $52.2 million, including approximately $0.7 million in commissions and fees to the counterparties payable by IDACORP when the FSAs are settled. IDACORP did not execute any FSAs under its ATM offering program during the three months ended September 30, 2025. At September 30, 2025, $155.5 million in shares of IDACORP’s common stock remained available for issuance through its ATM offering program.

At September 30, 2025, IDACORP had the following FSAs outstanding under its ATM offering program (in thousands of dollars, except for shares and forward price amounts):
Latest Settlement DateSharesNet Proceeds AvailableForward Price
November 12, 2025500,000$57,143$114.29
December 31, 2025301,91434,816115.32
March 31, 2026198,08622,783115.02
March 31, 2026254,17028,964113.95
Total / Weighted Average Forward Price1,254,170$143,706$114.58
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 September 30, 2025, IDACORP could have settled all its outstanding FSAs under the ATM offering program with physical delivery of 1,254,170 shares of common stock to the counterparties in exchange for cash of $143.7 million. At September 30, 2025, IDACORP could have settled the FSAs with net delivery to various counterparties of approximately $11.9 million of cash or approximately 96,141 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.

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. For the three months and nine months ended September 30, 2025, approximately 744,000 and 311,000 incremental shares, respectively, were included in the calculation of diluted earnings per share related to the securities under FSAs. For the three months and nine months ended September 30, 2024, approximately 59,000 and 54,000 incremental shares, respectively, were included in the calculation of diluted earnings per share related to the securities under FSAs. See Note 7 - "Earnings Per Share" for additional information concerning IDACORP's diluted earnings per share.

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 September 30, 2025, the leverage ratios for IDACORP and Idaho Power were 52 percent and 54 percent, respectively. Based on these restrictions, IDACORP’s and Idaho Power’s dividends were limited to $1.4 billion and $1.2 billion, respectively, at September 30, 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 September 30, 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 September 30, 2025, Idaho Power's common equity capital was 47 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 Federal Power Act prohibits the payment of dividends from "capital accounts." The term "capital account" is undefined in the Federal Power Act 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.
v3.25.3
EARNINGS PER SHARE:
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The table below presents the computation of IDACORP’s basic and diluted earnings per share for the three months and nine months ended September 30, 2025 and 2024 (in thousands, except for per share amounts).
Three months ended
September 30,		Nine months ended
September 30,
 2025202420252024
Numerator:    
Net income attributable to IDACORP, Inc.$124,437 $113,605 $279,865 $251,298 
Denominator:  
Weighted-average common shares outstanding - basic54,172 53,386 54,147 52,112 
Effect of dilutive securities(1)
883 99 375 67 
Weighted-average common shares outstanding - diluted55,055 53,485 54,522 52,179 
Basic earnings per share$2.30 $2.13 $5.17 $4.82 
Diluted earnings per share$2.26 $2.12 $5.13 $4.82 
(1) Includes the effect of dilutive securities related to FSAs. See Note 6 - "Common Stock" for additional information concerning IDACORP's FSAs.
v3.25.3
COMMITMENTS:
 9 Months Ended
Sep. 30, 2025
Disclosure Text Block Supplement [Abstract]  
COMMITMENTS COMMITMENTS
Purchase Obligations

During the nine months ended September 30, 2025, Idaho Power entered into:

•an agreement in May 2025 to acquire and own certain equipment and to receive related technical services, which increased Idaho Power's contractual purchase obligations by approximately $127.8 million through the first half of 2029. During the nine months ended September 30, 2025, Idaho Power made a payment of $25.6 million related to this obligation;
•an agreement in August 2025 for a non-PURPA-qualifying solar facility PPA with a scheduled online date of June 2027, which increased Idaho Power's contractual purchase obligations by approximately $206.7 million over the 25-year term of the agreement; and
•an agreement in September 2025 to replace an expiring PURPA-qualifying hydropower facility PPA, which increased Idaho Power's contractual purchase obligations by approximately $41.4 million over the 20-year term of the agreement.

In September 2025, due to permitting delays and uncertainties, Idaho Power, the counterparty, and its applicable affiliates terminated the agreements for the Jackalope Wind Project, which had been entered into in October 2024. The wind project included a 35-year PPA and a build-transfer agreement (BTA) for a co-located facility to be owned by Idaho Power. Each agreement provided for approximately 300 MW of wind-powered generation capacity. The termination collectively reduced Idaho Power's contractual purchase obligations by approximately $2.5 billion over the 35-year term of the PPA, beginning in June 2027, as well as during 2026 and 2027 under the BTA.

In October 2025, Idaho Power entered into agreements for firm transportation capacity with natural gas transporters, increasing its contractual purchase obligations by approximately $369.4 million. These obligations commence in October 2025 and expire in December 2045.

Except as disclosed above, during the nine months ended September 30, 2025, IDACORP's and Idaho Power's contractual obligations, outside the ordinary course of business, did not change materially from the amounts disclosed in the notes to the consolidated financial statements in the 2024 Annual Report.

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 $51.9 million at September 30, 2025, representing IERCo's one-third share of BCC's total reclamation obligation of $155.6 million. BCC has a reclamation trust fund set aside specifically for the purpose of paying these reclamation costs. At September 30, 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 September 30, 2025, management believe 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 condensed consolidated balance sheets with respect to these indemnification obligations.
v3.25.3
LEASES:
 9 Months Ended
Sep. 30, 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.

Finance Leases

Finance leases are included in finance lease ROU assets, other current liabilities, and finance lease liabilities recognized on the condensed 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 condensed consolidated statements of income. Variable lease payments are not recognized on the condensed consolidated balance sheets and are recorded as incurred in other O&M expense on the condensed consolidated statements of income and in operating activities in the condensed 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 condensed consolidated statements of income for the three months and nine months ended September 30, 2025 (in thousands):

Three months ended
September 30,		Nine months ended
September 30,
 20252025
Finance lease cost:
Amortization of ROU asset (Depreciation and amortization)$1,639 $2,368 
Interest on lease liabilities (Interest on long-term debt and finance leases)(1)
3,478 5,132 
Total finance lease cost5,117 7,500 
Variable lease cost (Other O&M)270 435 
Total lease cost$5,387 $7,935 
(1) Included in operating activities in the condensed 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 condensed consolidated balance sheets as of September 30, 2025 (in thousands):

 September 30, 2025
Finance leases:
Other current liabilities$6,067 

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of September 30, 2025:

September 30, 2025
Finance leases:
Weighted average remaining lease term19.63 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 condensed consolidated balance sheets as of September 30, 2025 (in thousands):

 Finance Leases
2025$4,848 
202619,751 
202719,751 
202819,751 
202919,751 
Thereafter303,657 
Total future fixed lease payments(1)
387,509 
Less: amounts representing interest (163,260)
Total present value of lease liabilities$224,249 
(1) The aggregate amount of future fixed lease payments represented above, and future variable lease payments, were disclosed as a purchase obligation in Note 9 - "Commitments" to the consolidated financial statements included in the 2024 Annual Report.
v3.25.3
CONTINGENCIES:
 9 Months Ended
Sep. 30, 2025
Loss Contingency [Abstract]  
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, the operation of its power supply, transmission, and distribution facilities, and other aspects of its business. 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 condensed consolidated financial statements.

Idaho Power actively monitors any pending or potential 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 any such regulations and orders.
v3.25.3
BENEFIT PLANS:
 9 Months Ended
Sep. 30, 2025
Retirement Benefits, Description [Abstract]  
Benefit Plans BENEFIT PLANS
Idaho Power has a noncontributory defined benefit pension plan (pension plan) and two nonqualified defined benefit plans for certain senior management employees called 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 the pension plan are based on years of service and the employee’s final average earnings. Idaho Power also 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. The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the three months ended September 30, 2025 and 2024 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20252024202520242025202420252024
Service cost$8,115 $9,127 $293 $262 $168 $175 $8,576 $9,564 
Interest cost14,379 13,549 1,410 1,333 743 706 16,532 15,588 
Expected return on plan assets(17,229)(16,240)— — (447)(457)(17,676)(16,697)
Amortization of prior service cost2 1,156 55 55 344 387 401 1,598 
Amortization of net loss— — 173 329 (441)(374)(268)(45)
Net periodic benefit cost5,267 7,592 1,931 1,979 367 437 7,565 10,008 
Regulatory deferral of net periodic benefit cost(1)
(5,058)(7,269)— — — — (5,058)(7,269)
Previously deferred pension costs recognized(1)
8,796 8,796 — — — — 8,796 8,796 
Net periodic benefit cost recognized for financial reporting(1)(2)
$9,005 $9,119 $1,931 $1,979 $367 $437 $11,303 $11,535 
(1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit 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 benefit cost recognized for financial reporting, $9.8 million and $9.4 million, respectively, were recognized in "Other operations and maintenance" and $1.5 million and $2.1 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the three months ended September 30, 2025 and 2024.
The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the nine months ended September 30, 2025 and 2024 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20252024202520242025202420252024
Service cost$23,830 $25,494 $879 $788 $504 $524 $25,213 $26,806 
Interest cost42,113 39,136 4,230 3,999 2,230 2,118 48,573 45,253 
Expected return on plan assets(51,698)(49,900)— — (1,340)(1,373)(53,038)(51,273)
Amortization of prior service cost5 1,280 166 165 1,031 1,161 1,202 2,606 
Amortization of net loss— — 518 984 (1,324)(1,121)(806)(137)
Net periodic benefit cost14,250 16,010 5,793 5,936 1,101 1,309 21,144 23,255 
Regulatory deferral of net periodic benefit cost(1)
(13,620)(15,320)— — — — (13,620)(15,320)
Previously deferred pension costs recognized(1)
26,387 26,387 — — — — 26,387 26,387 
Net periodic benefit cost recognized for financial reporting(1)(2)
$27,017 $27,077 $5,793 $5,936 $1,101 $1,309 $33,911 $34,322 
(1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit 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 benefit cost recognized for financial reporting, $29.4 million and $28.2 million, respectively, were recognized in "Other operations and maintenance" and $4.5 million and $6.1 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the nine months ended September 30, 2025 and 2024.

Idaho Power has no minimum contribution requirement to its defined benefit pension plan in 2025, and during the nine months ended September 30, 2025, Idaho Power contributed $20 million in a continued effort to balance the regulatory collection of these expenditures with the amount and timing of contributions, as well as to mitigate the cost of being in an underfunded position. The primary impact of pension contributions is on the timing of cash flows, as the timing of cost recovery lags behind contributions.

Idaho Power also has an Employee Savings Plan that complies with Section 401(k) of the Internal Revenue Code and covers substantially all employees. Idaho Power matches specified percentages of employee contributions to the Employee Savings Plan.
v3.25.3
DERIVATIVE FINANCIAL INSTRUMENTS:
 9 Months Ended
Sep. 30, 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 three months and nine months ended September 30, 2025 and 2024 (in thousands):
Gain/(Loss) on Derivatives Recognized in Income(1)
Location of Realized Gain/(Loss) on Derivatives Recognized in IncomeThree months ended
September 30,		Nine months ended
September 30,
2025202420252024
Financial swapsOperating revenues$270 $954 $559 $4,575 
Financial swapsPurchased power(1,948)(3,786)(2,927)(4,311)
Financial swapsFuel expense(9,145)(18,359)(21,881)(43,544)
Forward contractsOperating revenues(4)— 387 1,278 
Forward contractsPurchased power12 (1,454)(458)(3,135)
Forward contractsFuel expense(322)(335)(1,153)(556)
(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 13 - "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 September 30, 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 Investors Service 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 September 30, 2025, was $39.0 million. As of September 30, 2025, Idaho Power posted $30.6 million of cash collateral related to this amount. If the credit-risk-related contingent features underlying these agreements were triggered on September 30, 2025, Idaho Power would have been required to pay or post collateral to its counterparties up to an additional $28.7 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 at September 30, 2025, and December 31, 2024 (in thousands):

Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
September 30, 2025
Current:    
Financial swapsOther current assets$106 $(2)$104 $2 $(2)$— 
Financial swapsOther current liabilities2,836 (2,836)— 20,476 (16,421)
(1)
4,055 
Forward contractsOther current liabilities— — — 892 — 892 
Long-term:  
Financial swapsOther liabilities1,535 (1,535)— 4,788 (4,728)
(2)
60 
Forward contractsOther liabilities— — — 10,661 — 10,661 
Total $4,477 $(4,373)$104 $36,819 $(21,151)$15,668 
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 $13.6 million of collateral receivable at September 30, 2025.
(2) Long-term liability derivative amounts offset include $3.2 million of collateral receivable at September 30, 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 September 30, 2025 and 2024 (in thousands of units):
September 30,
CommodityUnits20252024
Electricity purchasesMWh208 220 
Electricity salesMWh— 16 
Natural gas purchasesMMBtu114,725 30,133 
v3.25.3
FAIR VALUE MEASUREMENTS:
 9 Months Ended
Sep. 30, 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 condensed 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 nine months ended September 30, 2025.

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 September 30, 2025, and December 31, 2024 (in thousands).

September 30, 2025December 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$129,934 $— $— $129,934 $146,308 $— $— $146,308 
Idaho Power137,260 — — 137,260 158,999 — — 158,999 
Derivatives104 — — 104 — — — — 
Equity securities36,251 — — 36,251 39,772 — — 39,772 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 5,989 — — — 4,099 
Liabilities:
Derivatives4,115 11,553 — 15,668 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 September 30, 2025, and December 31, 2024, using available market information and appropriate valuation methodologies (in thousands).
 September 30, 2025December 31, 2024
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
IDACORP    
Assets:    
Notes receivable(1)
$2,155 $2,155 $2,155 $2,155 
Held-to-maturity securities(1)(2)
32,957 31,514 32,151 29,428 
Liabilities:    
Long-term debt (including current portion)(1)
3,447,052 3,299,724 3,073,662 2,807,803 
Idaho Power    
Assets:
Held-to-maturity securities(1)(2)
$32,957 $31,514 $32,151 $29,428 
Liabilities:    
Long-term debt (including current portion)(1)
3,447,052 3,299,724 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 13 - "Fair Value Measurements."
(2) All held-to-maturity securities are carried at amortized cost and were in a gross unrealized holding loss position totaling $1.4 million and $2.7 million as of September 30, 2025, and December 31, 2024, respectively. Substantially all of these debt securities mature between 2027 and 2038. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect payment defaults or delinquencies and had not recorded an allowance for credit losses for these securities as of September 30, 2025, and December 31, 2024.

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.
v3.25.3
SEGMENT INFORMATION:
 9 Months Ended
Sep. 30, 2025
Segment Reporting, Measurement Disclosures [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 power supply, 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 consists of IFS’s investments in affordable housing and other real estate tax credit projects, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses.

IDACORP’s and Idaho Power’s chief operating decision maker is regularly provided with segment expense information for utility operations at the same level of detail as presented in Idaho Power’s condensed 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). 
Utility
Operations		All
Other		EliminationsConsolidated
Total
Three months ended September 30, 2025:    
Revenues$523,549 $868 $— $524,417 
Depreciation and amortization64,493 — — 64,493 
Other income, net19,196 93 — 19,289 
Interest income including carrying charges on regulatory assets8,967 2,678 (761)10,884 
Earnings of unconsolidated equity-method investments996 1,189 — 2,185 
Interest expense44,796 849 (761)44,884 
Income tax (benefit) expense7,321 365 — 7,686 
Net income attributable to IDACORP, Inc.122,156 2,281 — 124,437 
Expenditures for long-lived assets290,600 123 — 290,723 
Total assets as of September 30, 2025
9,825,112 344,141 (93,268)10,075,985 
Three months ended September 30, 2024:
Revenues$527,487 $1,040 $— $528,527 
Depreciation and amortization56,388 — — 56,388 
Other income (expense), net18,828 (58)— 18,770 
Interest income including carrying charges on regulatory assets8,558 2,183 (854)9,887 
Earnings of unconsolidated equity-method investments841 1,137 — 1,978 
Interest expense34,061 939 (854)34,146 
Income tax expense (benefit)16,444 (86)— 16,358 
Net income attributable to IDACORP, Inc.111,089 2,516 — 113,605 
Expenditures for long-lived assets218,041 22 — 218,063 
Nine months ended September 30, 2025:
Revenues$1,405,173 $2,581 $— $1,407,754 
Depreciation and amortization185,407 — — 185,407 
Other income (expense), net55,200 (144)— 55,056 
Interest income including carrying charges on regulatory assets27,541 8,437 (2,275)33,703 
Earnings of unconsolidated equity-method investments2,150 2,058 — 4,208 
Interest expense124,019 2,610 (2,275)124,354 
Income tax (benefit) expense(12,084)624 — (11,460)
Net income attributable to IDACORP, Inc.273,121 6,744 — 279,865 
Expenditures for long-lived assets825,100 252 — 825,352 
Nine months ended September 30, 2024:
Revenues$1,425,606 $2,896 $— $1,428,502 
Depreciation and amortization165,133 — — 165,133 
Other income (expense), net49,397 (191)— 49,206 
Interest income including carrying charges on regulatory assets27,682 5,328 (2,418)30,592 
Earnings of unconsolidated equity-method investments1,936 1,944 — 3,880 
Interest expense99,175 2,668 (2,418)99,425 
Income tax expense (benefit)19,885 (1,009)— 18,876 
Net income attributable to IDACORP, Inc.245,779 5,519 — 251,298 
Expenditures for long-lived assets823,855 114 — 823,969 
v3.25.3
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)
 9 Months Ended
Sep. 30, 2025
Statement of Comprehensive Income [Abstract]  
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME
The table below presents changes in components of AOCI, net of tax, during the three months and nine months ended September 30, 2025 and 2024 (in thousands). Items in parentheses indicate charges to AOCI.
Three months ended
September 30,		Nine months ended
September 30,
2025202420252024
Defined benefit pension items
Balance at beginning of period$(13,481)$(16,616)$(13,592)$(17,184)
Other comprehensive income before reclassification— — (229)— 
Amounts reclassified out of AOCI171 285 511 853 
Balance at end of period$(13,310)$(16,331)$(13,310)$(16,331)

The table below presents amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the three months and nine months ended September 30, 2025 and 2024 (in thousands). Items in parentheses indicate increases to net income.
Amount Reclassified from AOCI
Details About AOCIThree months ended
September 30,		Nine months ended
September 30,
2025202420252024
Amortization of defined benefit pension items(1)
Prior service cost$55 $55 $166 $165 
Net loss173 329 518 984 
Total before tax228 384 684 1,149 
Tax benefit(2)
(57)(99)(173)(296)
Total reclassification for the period, net of tax$171 $285 $511 $853 
(1) Amortization of these items is included in IDACORP's condensed consolidated statements of income in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net.
(2) The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.
v3.25.3
CHANGES IN IDAHO POWER RETAINED EARNINGS (Notes)
 9 Months Ended
Sep. 30, 2025
Changes in Idaho Power Retained Earnings [Abstract]  
CHANGES IN IDAHO POWER RETAINED EARNINGS CHANGES IN IDAHO POWER RETAINED EARNINGS
The table below presents changes in Idaho Power retained earnings during the three months and nine months ended September 30, 2025 and 2024 (in thousands).
Three months ended
September 30,		Nine months ended
September 30,
2025202420252024
Balance at beginning of period$2,153,655 $2,041,364 $2,096,151 $1,991,319 
Net income122,156 111,089 273,121 245,779 
Dividends to parent(46,778)(44,458)(140,239)(129,103)
Balance at end of period$2,229,033 $2,107,995 $2,229,033 $2,107,995 
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 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
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Organization, Consolidation, Presentation, and Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
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. 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.
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.
IDACORP's and Idaho Power's financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. 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.
Financial Statements In the opinion of management of IDACORP and Idaho Power, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly each company's condensed consolidated balance sheets as of September 30, 2025, condensed consolidated statements of income for the three months and nine months ended September 30, 2025 and 2024, and condensed consolidated cash flows for the nine months ended September 30, 2025 and 2024. These adjustments are of a normal and recurring nature. These financial statements do not contain the complete detail or note disclosures concerning accounting policies and other matters that would be included in full-year financial statements and should be read in conjunction with the audited consolidated financial statements included in the 2024 Annual Report. The statements of income for the interim period are not necessarily indicative of the results to be expected for the full year. A change in management's estimates or assumptions could have a material impact on IDACORP's or Idaho Power's respective balance sheets and statements of income during the period in which such change occurred.
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.
New and Recently Adopted Accounting Pronouncements
New and Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This ASU is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024, with early adoption permitted. IDACORP and Idaho Power adopted this ASU on January 1, 2024, for annual periods, and subsequently on January 1, 2025, for interim periods. The amendments in this ASU have been applied retrospectively, as required. See Note 14 - "Segment Information" 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 condensed consolidated financial statements.

Recent Accounting Pronouncements Not Yet Adopted

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 have evaluated the impact that adoption of this ASU will have on the notes to their respective financial statements, and the companies do not believe the adoption of the new standard will have a material impact.

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 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 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 condensed consolidated financial statements.
Income Tax
In accordance with interim reporting requirements, IDACORP and Idaho Power use an estimated annual effective tax rate for computing their provisions for income taxes. An estimate of annual income tax expense (or benefit) is made each interim period using estimates for annual pre-tax income, income tax adjustments, and tax credits. The estimated annual effective tax rates do not include discrete events such as tax law changes, examination settlements, accounting method changes, or adjustments to tax expense or benefits attributable to prior years. Discrete events are recorded in the interim period in which they occur or become known. The estimated annual effective tax rate is applied to year-to-date pre-tax income to determine income tax expense (or benefit) for the interim period consistent with the annual estimate. In subsequent interim periods, income tax expense (or benefit) for the period is computed as the difference between the year-to-date amount reported for the previous interim period and the current period's year-to-date amount.
Revenue Recognition 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 renewable energy credits. 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 condensed consolidated statements of income.
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.
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.
Commitments and Contingencies, Policy
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.
Derivatives, Methods of Accounting, Derivatives Not Designated or Qualifying 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).
Derivatives, 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 condensed 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.
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 power supply, 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 consists of IFS’s investments in affordable housing and other real estate tax credit projects, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses.
v3.25.3
INCOME TAXES: Level 3 (Tables)
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The following table provides a summary of income tax (benefit) expense for the nine months ended September 30, 2025 and 2024 (in thousands): 
 IDACORPIdaho Power
 2025202420252024
Income tax at statutory rates (federal and state)$67,179 $69,543 $65,335 $68,382 
Excess deferred income tax reversal(7,293)(7,535)(7,293)(7,535)
Income tax return adjustments(8,046)1,875 (8,581)1,865 
Other(1)
(24,300)(22,507)(22,545)(20,327)
Income tax expense before ADITC$27,540 $41,376 $26,916 $42,385 
Additional ADITC amortization(39,000)(22,500)(39,000)(22,500)
Income tax (benefit) expense$(11,460)$18,876 $(12,084)$19,885 
Effective tax rate(4.3)%7.0 %(4.6)%7.5 %
(1) "Other" primarily consists of the net tax effect of Idaho Power's regulatory flow-through tax adjustments.
v3.25.3
REVENUES: Electric utility operating revenues (Tables)
 9 Months Ended
Sep. 30, 2025
Revenues [Abstract]  
Electric utility operating revenues [Table Text Block]
The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power for the three months and nine months ended September 30, 2025 and 2024 (in thousands):
Three months ended
September 30,		Nine months ended
September 30,
 2025202420252024
Revenue from contracts with customers$526,424 $532,477 $1,386,879 $1,393,006 
Alternative revenue programs and other revenues(2,875)(4,990)18,294 32,600 
Total electric utility operating revenues$523,549 $527,487 $1,405,173 $1,425,606 
Disaggregation of Revenue [Table Text Block]
The following table presents revenues from contracts with customers disaggregated by revenue source for the three months and nine months ended September 30, 2025 and 2024 (in thousands):
Three months ended
September 30,		Nine months ended
September 30,
 2025202420252024
Retail revenues:
Residential (includes $(4,125), $(6,193), $(9,194), and $(8,982), respectively, related to the FCA)(1)
$195,445 $195,291 $535,505 $525,353 
Commercial (includes $(70), $(66), $(150), and $(158), respectively, related to the FCA)(1)
111,510 112,323 304,014 303,031 
Industrial72,079 71,908 205,526 203,990 
Irrigation101,690 109,861 195,172 191,671 
Deferred revenue related to HCC relicensing AFUDC(2)
(2,854)(2,881)(6,848)(6,913)
Total retail revenues477,870 486,502 1,233,369 1,217,132 
Less: FCA mechanism revenues(1)
4,195 6,259 9,344 9,140 
Wholesale energy sales10,520 6,946 45,443 65,759 
Transmission wheeling-related revenues17,856 19,419 53,624 60,142 
Energy efficiency program revenues7,460 5,283 18,808 16,699 
Other revenues from contracts with customers8,523 8,068 26,291 24,134 
Total revenues from contracts with customers$526,424 $532,477 $1,386,879 $1,393,006 
(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, even though the relicensing process is not yet complete and the costs have not been moved to utility plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service. Effective October 1, 2025, this amount will increase by $29.7 million annually; refer to Note 3 - "Regulatory Matters."
Alternative revenue programs and other revenues [Table Text Block]
The table below presents the FCA mechanism revenues and other revenues for the three months and nine months ended September 30, 2025 and 2024 (in thousands):
Three months ended
September 30,		Nine months ended
September 30,
 2025202420252024
FCA mechanism revenues$(4,195)$(6,259)$(9,344)$(9,140)
Derivative revenues1,320 1,269 27,638 41,740 
Total alternative revenue programs and other revenues$(2,875)$(4,990)$18,294 $32,600 
Accounts Receivable, Allowance for Credit Loss [Table Text Block]
Receivables and Allowance for Uncollectible Accounts

The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables for the nine months ended September 30, 2025 and 2024 (in thousands):
Nine months ended
September 30,
 20252024
Balance at beginning of period$5,071 $4,869 
Additions to the allowance2,658 1,744 
Write-offs, net of recoveries(3,388)(3,317)
Balance at end of period$4,341 $3,296 
Allowance for uncollectible accounts as a percentage of customer receivables3.0 %2.2 %
v3.25.3
COMMON STOCK: Level 3 (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of Forward Contracts Indexed to Issuer's Equity
At September 30, 2025, IDACORP had the following FSAs outstanding under its ATM offering program (in thousands of dollars, except for shares and forward price amounts):
Latest Settlement DateSharesNet Proceeds AvailableForward Price
November 12, 2025500,000$57,143$114.29
December 31, 2025301,91434,816115.32
March 31, 2026198,08622,783115.02
March 31, 2026254,17028,964113.95
Total / Weighted Average Forward Price1,254,170$143,706$114.58
v3.25.3
EARNINGS PER SHARE: Level 3 (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method
The table below presents the computation of IDACORP’s basic and diluted earnings per share for the three months and nine months ended September 30, 2025 and 2024 (in thousands, except for per share amounts).
Three months ended
September 30,		Nine months ended
September 30,
 2025202420252024
Numerator:    
Net income attributable to IDACORP, Inc.$124,437 $113,605 $279,865 $251,298 
Denominator:  
Weighted-average common shares outstanding - basic54,172 53,386 54,147 52,112 
Effect of dilutive securities(1)
883 99 375 67 
Weighted-average common shares outstanding - diluted55,055 53,485 54,522 52,179 
Basic earnings per share$2.30 $2.13 $5.17 $4.82 
Diluted earnings per share$2.26 $2.12 $5.13 $4.82 
(1) Includes the effect of dilutive securities related to FSAs. See Note 6 - "Common Stock" for additional information concerning IDACORP's FSAs.
v3.25.3
LEASES: Level 3 (Tables)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Lease, Cost
The following table provides a summary of the components of total lease cost included in the condensed consolidated statements of income for the three months and nine months ended September 30, 2025 (in thousands):

Three months ended
September 30,		Nine months ended
September 30,
 20252025
Finance lease cost:
Amortization of ROU asset (Depreciation and amortization)$1,639 $2,368 
Interest on lease liabilities (Interest on long-term debt and finance leases)(1)
3,478 5,132 
Total finance lease cost5,117 7,500 
Variable lease cost (Other O&M)270 435 
Total lease cost$5,387 $7,935 
(1) Included in operating activities in the condensed 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 condensed consolidated balance sheets as of September 30, 2025 (in thousands):

 September 30, 2025
Finance leases:
Other current liabilities$6,067 

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of September 30, 2025:

September 30, 2025
Finance leases:
Weighted average remaining lease term19.63 years
Weighted average discount rate6.17 %
Finance Lease, Liability, to be Paid, Maturity
The following table presents the maturities of future fixed lease payments and a reconciliation of undiscounted cash flows to lease liabilities recognized on the condensed consolidated balance sheets as of September 30, 2025 (in thousands):

 Finance Leases
2025$4,848 
202619,751 
202719,751 
202819,751 
202919,751 
Thereafter303,657 
Total future fixed lease payments(1)
387,509 
Less: amounts representing interest (163,260)
Total present value of lease liabilities$224,249 
(1) The aggregate amount of future fixed lease payments represented above, and future variable lease payments, were disclosed as a purchase obligation in Note 9 - "Commitments" to the consolidated financial statements included in the 2024 Annual Report.
v3.25.3
BENEFIT PLANS: Level 3 (Tables)
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures [Table Text Block] The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the three months ended September 30, 2025 and 2024 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20252024202520242025202420252024
Service cost$8,115 $9,127 $293 $262 $168 $175 $8,576 $9,564 
Interest cost14,379 13,549 1,410 1,333 743 706 16,532 15,588 
Expected return on plan assets(17,229)(16,240)— — (447)(457)(17,676)(16,697)
Amortization of prior service cost2 1,156 55 55 344 387 401 1,598 
Amortization of net loss— — 173 329 (441)(374)(268)(45)
Net periodic benefit cost5,267 7,592 1,931 1,979 367 437 7,565 10,008 
Regulatory deferral of net periodic benefit cost(1)
(5,058)(7,269)— — — — (5,058)(7,269)
Previously deferred pension costs recognized(1)
8,796 8,796 — — — — 8,796 8,796 
Net periodic benefit cost recognized for financial reporting(1)(2)
$9,005 $9,119 $1,931 $1,979 $367 $437 $11,303 $11,535 
(1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit 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 benefit cost recognized for financial reporting, $9.8 million and $9.4 million, respectively, were recognized in "Other operations and maintenance" and $1.5 million and $2.1 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the three months ended September 30, 2025 and 2024.
The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the nine months ended September 30, 2025 and 2024 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20252024202520242025202420252024
Service cost$23,830 $25,494 $879 $788 $504 $524 $25,213 $26,806 
Interest cost42,113 39,136 4,230 3,999 2,230 2,118 48,573 45,253 
Expected return on plan assets(51,698)(49,900)— — (1,340)(1,373)(53,038)(51,273)
Amortization of prior service cost5 1,280 166 165 1,031 1,161 1,202 2,606 
Amortization of net loss— — 518 984 (1,324)(1,121)(806)(137)
Net periodic benefit cost14,250 16,010 5,793 5,936 1,101 1,309 21,144 23,255 
Regulatory deferral of net periodic benefit cost(1)
(13,620)(15,320)— — — — (13,620)(15,320)
Previously deferred pension costs recognized(1)
26,387 26,387 — — — — 26,387 26,387 
Net periodic benefit cost recognized for financial reporting(1)(2)
$27,017 $27,077 $5,793 $5,936 $1,101 $1,309 $33,911 $34,322 
(1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit 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 benefit cost recognized for financial reporting, $29.4 million and $28.2 million, respectively, were recognized in "Other operations and maintenance" and $4.5 million and $6.1 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the nine months ended September 30, 2025 and 2024.
v3.25.3
DERIVATIVE FINANCIAL INSTRUMENTS: Level 3 (Tables)
 9 Months Ended
Sep. 30, 2025
Summary of Derivative Instruments [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 three months and nine months ended September 30, 2025 and 2024 (in thousands):
Gain/(Loss) on Derivatives Recognized in Income(1)
Location of Realized Gain/(Loss) on Derivatives Recognized in IncomeThree months ended
September 30,		Nine months ended
September 30,
2025202420252024
Financial swapsOperating revenues$270 $954 $559 $4,575 
Financial swapsPurchased power(1,948)(3,786)(2,927)(4,311)
Financial swapsFuel expense(9,145)(18,359)(21,881)(43,544)
Forward contractsOperating revenues(4)— 387 1,278 
Forward contractsPurchased power12 (1,454)(458)(3,135)
Forward contractsFuel expense(322)(335)(1,153)(556)
(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 at September 30, 2025, and December 31, 2024 (in thousands):

Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
September 30, 2025
Current:    
Financial swapsOther current assets$106 $(2)$104 $2 $(2)$— 
Financial swapsOther current liabilities2,836 (2,836)— 20,476 (16,421)
(1)
4,055 
Forward contractsOther current liabilities— — — 892 — 892 
Long-term:  
Financial swapsOther liabilities1,535 (1,535)— 4,788 (4,728)
(2)
60 
Forward contractsOther liabilities— — — 10,661 — 10,661 
Total $4,477 $(4,373)$104 $36,819 $(21,151)$15,668 
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 $13.6 million of collateral receivable at September 30, 2025.
(2) Long-term liability derivative amounts offset include $3.2 million of collateral receivable at September 30, 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 September 30, 2025 and 2024 (in thousands of units):
September 30,
CommodityUnits20252024
Electricity purchasesMWh208 220 
Electricity salesMWh— 16 
Natural gas purchasesMMBtu114,725 30,133 
v3.25.3
FAIR VALUE MEASUREMENTS: Level 3 (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
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 September 30, 2025, and December 31, 2024 (in thousands).

September 30, 2025December 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$129,934 $— $— $129,934 $146,308 $— $— $146,308 
Idaho Power137,260 — — 137,260 158,999 — — 158,999 
Derivatives104 — — 104 — — — — 
Equity securities36,251 — — 36,251 39,772 — — 39,772 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 5,989 — — — 4,099 
Liabilities:
Derivatives4,115 11,553 — 15,668 4,003 12,256 — 16,259 
(1) Holding company only. Does not include amounts held by Idaho Power.
Fair Value, by Balance Sheet Grouping [Table Text Block]
The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value as of September 30, 2025, and December 31, 2024, using available market information and appropriate valuation methodologies (in thousands).
 September 30, 2025December 31, 2024
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
IDACORP    
Assets:    
Notes receivable(1)
$2,155 $2,155 $2,155 $2,155 
Held-to-maturity securities(1)(2)
32,957 31,514 32,151 29,428 
Liabilities:    
Long-term debt (including current portion)(1)
3,447,052 3,299,724 3,073,662 2,807,803 
Idaho Power    
Assets:
Held-to-maturity securities(1)(2)
$32,957 $31,514 $32,151 $29,428 
Liabilities:    
Long-term debt (including current portion)(1)
3,447,052 3,299,724 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 13 - "Fair Value Measurements."
(2) All held-to-maturity securities are carried at amortized cost and were in a gross unrealized holding loss position totaling $1.4 million and $2.7 million as of September 30, 2025, and December 31, 2024, respectively. Substantially all of these debt securities mature between 2027 and 2038. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect payment defaults or delinquencies and had not recorded an allowance for credit losses for these securities as of September 30, 2025, and December 31, 2024.
v3.25.3
SEGMENT INFORMATION: Level 3 (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Information [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). 
Utility
Operations		All
Other		EliminationsConsolidated
Total
Three months ended September 30, 2025:    
Revenues$523,549 $868 $— $524,417 
Depreciation and amortization64,493 — — 64,493 
Other income, net19,196 93 — 19,289 
Interest income including carrying charges on regulatory assets8,967 2,678 (761)10,884 
Earnings of unconsolidated equity-method investments996 1,189 — 2,185 
Interest expense44,796 849 (761)44,884 
Income tax (benefit) expense7,321 365 — 7,686 
Net income attributable to IDACORP, Inc.122,156 2,281 — 124,437 
Expenditures for long-lived assets290,600 123 — 290,723 
Total assets as of September 30, 2025
9,825,112 344,141 (93,268)10,075,985 
Three months ended September 30, 2024:
Revenues$527,487 $1,040 $— $528,527 
Depreciation and amortization56,388 — — 56,388 
Other income (expense), net18,828 (58)— 18,770 
Interest income including carrying charges on regulatory assets8,558 2,183 (854)9,887 
Earnings of unconsolidated equity-method investments841 1,137 — 1,978 
Interest expense34,061 939 (854)34,146 
Income tax expense (benefit)16,444 (86)— 16,358 
Net income attributable to IDACORP, Inc.111,089 2,516 — 113,605 
Expenditures for long-lived assets218,041 22 — 218,063 
Nine months ended September 30, 2025:
Revenues$1,405,173 $2,581 $— $1,407,754 
Depreciation and amortization185,407 — — 185,407 
Other income (expense), net55,200 (144)— 55,056 
Interest income including carrying charges on regulatory assets27,541 8,437 (2,275)33,703 
Earnings of unconsolidated equity-method investments2,150 2,058 — 4,208 
Interest expense124,019 2,610 (2,275)124,354 
Income tax (benefit) expense(12,084)624 — (11,460)
Net income attributable to IDACORP, Inc.273,121 6,744 — 279,865 
Expenditures for long-lived assets825,100 252 — 825,352 
Nine months ended September 30, 2024:
Revenues$1,425,606 $2,896 $— $1,428,502 
Depreciation and amortization165,133 — — 165,133 
Other income (expense), net49,397 (191)— 49,206 
Interest income including carrying charges on regulatory assets27,682 5,328 (2,418)30,592 
Earnings of unconsolidated equity-method investments1,936 1,944 — 3,880 
Interest expense99,175 2,668 (2,418)99,425 
Income tax expense (benefit)19,885 (1,009)— 18,876 
Net income attributable to IDACORP, Inc.245,779 5,519 — 251,298 
Expenditures for long-lived assets823,855 114 — 823,969 
v3.25.3
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
 9 Months Ended
Sep. 30, 2025
Statement of Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The table below presents changes in components of AOCI, net of tax, during the three months and nine months ended September 30, 2025 and 2024 (in thousands). Items in parentheses indicate charges to AOCI.
Three months ended
September 30,		Nine months ended
September 30,
2025202420252024
Defined benefit pension items
Balance at beginning of period$(13,481)$(16,616)$(13,592)$(17,184)
Other comprehensive income before reclassification— — (229)— 
Amounts reclassified out of AOCI171 285 511 853 
Balance at end of period$(13,310)$(16,331)$(13,310)$(16,331)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
The table below presents amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the three months and nine months ended September 30, 2025 and 2024 (in thousands). Items in parentheses indicate increases to net income.
Amount Reclassified from AOCI
Details About AOCIThree months ended
September 30,		Nine months ended
September 30,
2025202420252024
Amortization of defined benefit pension items(1)
Prior service cost$55 $55 $166 $165 
Net loss173 329 518 984 
Total before tax228 384 684 1,149 
Tax benefit(2)
(57)(99)(173)(296)
Total reclassification for the period, net of tax$171 $285 $511 $853 
(1) Amortization of these items is included in IDACORP's condensed consolidated statements of income in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net.
(2) The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.
v3.25.3
CHANGES IN IDAHO POWER RETAINED EARNINGS (Tables)
 9 Months Ended
Sep. 30, 2025
Changes in Idaho Power Retained Earnings [Abstract]  
Changes in Idaho Power Retained Earnings Table
Three months ended
September 30,		Nine months ended
September 30,
2025202420252024
Balance at beginning of period$2,153,655 $2,041,364 $2,096,151 $1,991,319 
Net income122,156 111,089 273,121 245,779 
Dividends to parent(46,778)(44,458)(140,239)(129,103)
Balance at end of period$2,229,033 $2,107,995 $2,229,033 $2,107,995 
v3.25.3
INCOME TAXES: Level 4 (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Tax Expense [Line Items]        
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount     $ 67,179 $ 69,543
Excess deferred income tax reversal     (7,293) (7,535)
Income tax return adjustments     (8,046) 1,875
Other [1]     (24,300) (22,507)
Income tax expense before additional ADITC amortization     27,540 41,376
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount     (39,000) (22,500)
Income Tax Expense $ 7,686 $ 16,358 $ (11,460) $ 18,876
Effective tax rate     (4.30%) 7.00%
Idaho Power Company        
Income Tax Expense [Line Items]        
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount     $ 65,335 $ 68,382
Excess deferred income tax reversal     (7,293) (7,535)
Income tax return adjustments     (8,581) 1,865
Other [1]     (22,545) (20,327)
Income tax expense before additional ADITC amortization     26,916 42,385
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount     (39,000) (22,500)
Income Tax Expense $ 7,321 $ 16,444 $ (12,084) $ 19,885
Effective tax rate     (4.60%) 7.50%
[1] "Other" primarily consists of the net tax effect of Idaho Power's regulatory flow-through tax adjustments.
v3.25.3
REGULATORY MATTERS: Level 4 (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2026
May 31, 2026
Jan. 01, 2026
Dec. 31, 2025
Sep. 03, 2025
Jun. 01, 2025
Jun. 01, 2024
Jan. 01, 2024
Settlement Stipulation - Investment Tax Credits and Idaho Sharing Mechanism                        
Regulatory Matters                        
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Amount $ 2.5 $ 2.5 $ 39.0 $ 22.5                
Settlement Stipulation - Investment Tax Credits and Idaho Sharing Mechanism | ADITC                        
Regulatory Matters                        
Investment Tax Credits, Remains Available $ 38.0   $ 38.0                  
Idaho fixed cost adjustment mechanism                        
Regulatory Matters                        
Percentage cap on the FCA adjustment 3.00%   3.00%                  
Annual fixed cost adjustment mechanism deferral                   $ 3.1 $ (36.8)  
Wildfire mitigation plan costs | Idaho Power Fixed Cost Adjustment                        
Regulatory Matters                        
Regulatory Asset                 $ 22.2      
Subsequent Event | Idaho Power Cost Adjustment                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount         $ 16.1              
Public Utilities, Approved Rate Increase (Decrease), Amount           $ 94.8            
Base net power supply expenses in rates         468.8              
Subsequent Event | Idaho Power Cost Adjustment | IDAHO                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount         (46.8)              
Subsequent Event | Idaho fixed cost adjustment mechanism                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount           (39.8)            
Subsequent Event | Oregon jurisdiction                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount           (1.8)            
Subsequent Event | Oregon jurisdiction | 2025                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount         $ 0.6              
Public Utilities, Requested Rate Increase (Decrease), Percentage         (0.90%)              
Subsequent Event | Idaho Power Fixed Cost Adjustment | IDAHO                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount         $ 199.1              
Public Utilities, Requested Rate Increase (Decrease), Percentage         13.09%              
Total Retail Rate Base               $ (5,100.0)        
Public Utilities, Requested Debt Capital Structure, Percentage         49.00%              
Requested Average Cost of Debt in Rate Case         5.132%              
Requested Average Cost of Capital in Rate Case         7.818%              
Public Utilities, Requested Equity Capital Structure, Percentage         51.00%              
Public Utilities, Requested Return on Equity, Percentage         10.40%              
Subsequent Event | October 2025 Settlement Stipulation | IDAHO                        
Regulatory Matters                        
Minimum authorized return on equity         9.12%              
Public Utilities, Requested Rate Increase (Decrease), Amount         $ 110.0 (4,900.0)            
Public Utilities, Requested Rate Increase (Decrease), Percentage         (7.48%)              
Annual amortization cap         $ (55.0)              
Requested Average Cost of Capital in Rate Case         (7.41%)              
Public Utilities, Requested Return on Equity, Percentage         9.60%              
Authorized Return on Equity in Rate Case, Mid-point             9.60%          
Base net power supply expenses in rates         $ 468.8              
Subsequent Event | Wildfire mitigation plan costs | Oregon jurisdiction | 2023                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount         1.3              
Subsequent Event | Wildfire mitigation plan costs | Oregon jurisdiction | 2024                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount         3.3              
Public Utilities, Approved Rate Increase (Decrease), Amount         3.3              
Subsequent Event | Wildfire mitigation plan costs | Oregon jurisdiction | 2025                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount         0.7              
Subsequent Event | Hells Canyon Complex | Idaho Power Fixed Cost Adjustment                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount           $ 29.7            
Subsequent Event | Idaho Power Cost Adjustment | October 2025 Settlement Stipulation | IDAHO                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount         $ 13.1              
IDAHO | 2023 Settlement Stipulation                        
Regulatory Matters                        
Minimum authorized return on equity                       9.12%
v3.25.3
REVENUES: Electric utility operating revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues [Abstract]        
Revenue from contracts with customers $ 526,424 $ 532,477 $ 1,386,879 $ 1,393,006
Alternative revenue programs and other revenues (2,875) (4,990) 18,294 32,600
Electric utility revenues $ 523,549 $ 527,487 $ 1,405,173 $ 1,425,606
v3.25.3
REVENUES: (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Oct. 01, 2025
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers $ 526,424 $ 532,477 $ 1,386,879 $ 1,393,006  
Alternative revenue programs and other revenues (2,875) (4,990) 18,294 32,600  
Retail revenues          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers 477,870 486,502 1,233,369 1,217,132  
Idaho fixed cost adjustment mechanism          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers [1] 4,195 6,259 9,344 9,140  
Alternative revenue programs and other revenues (4,195) (6,259) (9,344) (9,140)  
Wholesale energy sales          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers 10,520 6,946 45,443 65,759  
Transmission Service Agreement          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers 17,856 19,419 53,624 60,142  
Energy efficiency program revenues          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers 7,460 5,283 18,808 16,699  
Other revenues          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers 8,523 8,068 26,291 24,134  
Derivative revenues          
Disaggregation of Revenue [Line Items]          
Alternative revenue programs and other revenues 1,320 1,269 27,638 41,740  
Residential Retail Revenue | Retail revenues          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers [1] 195,445 195,291 535,505 525,353  
Residential Retail Revenue | Idaho fixed cost adjustment mechanism          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers (4,125) (6,193) (9,194) (8,982)  
Commercial Retail Revenue | Retail revenues          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers [1] 111,510 112,323 304,014 303,031  
Commercial Retail Revenue | Idaho fixed cost adjustment mechanism          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers (70) (66) (150) (158)  
Industrial Retail Revenue | Retail revenues          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers 72,079 71,908 205,526 203,990  
Irrigation Retail Revenue | Retail revenues          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers 101,690 109,861 195,172 191,671  
Deferred revenue-AFUDC | Retail revenues          
Disaggregation of Revenue [Line Items]          
Revenue from contracts with customers [2] (2,854) (2,881) (6,848) (6,913)  
IPUC authorized AFUDC Collection HCC Relicensing - Gross | Idaho Power Company | Hells Canyon Complex          
Disaggregation of Revenue [Line Items]          
Regulatory liabilities $ (8,800) $ (8,800) $ (8,800) $ (8,800) $ (29,700)
[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, even though the relicensing process is not yet complete and the costs have not been moved to utility plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service. Effective October 1, 2025, this amount will increase by $29.7 million annually; refer to Note 3 - "Regulatory Matters."
v3.25.3
REVENUES: Receivables and Allowance for Uncollectible Accounts (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Balance at beginning of period $ 5,071 $ 4,869
Additions to the allowance 2,658 1,744
Write-offs, net of recoveries (3,388) (3,317)
Balance at end of period $ 4,341 $ 3,296
Allowance for uncollectible accounts as a percentage of customer receivables 3.00% 2.20%
v3.25.3
LONG-TERM DEBT (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
USD ($)
Mar. 13, 2025
USD ($)
Feb. 28, 2025
bank
Feb. 03, 2025
USD ($)
Mar. 14, 2024
USD ($)
First Mortgage Bonds 5.20 Series Due 2034 [Domain]          
Debt Instrument [Line Items]          
Secured Long-term Debt, Noncurrent   $ 400,000      
Debt Instrument, Interest Rate, Stated Percentage   5.70%      
Variable Rate American Falls [Domain]          
Debt Instrument [Line Items]          
Debt Instrument, Repurchased Face Amount       $ 19,900  
Idaho Power Company          
Debt Instrument [Line Items]          
Debt instrument interest rate limit 8.00%        
Debt Instrument, Unused Borrowing Capacity, Amount $ 2,000,000        
Earnings test does not apply to refunding bonds that mature in less than this period of time 2 years        
Indenture, Limit of first mortgate bonds at any one time outstanding $ 5,500,000        
Idaho Power Company | Principal amount of debt securities in Selling Agreement          
Debt Instrument [Line Items]          
Indenture, Unused Borrowing Capacity, Amount 2,300,000        
Number of banks in agreement | bank     7    
Principal amount of debt securities in Selling Agreement 2,100,000        
Idaho Power Company | Public Utility Commisions - Idaho, Oregon, and Washington          
Debt Instrument [Line Items]          
Indenture, Unused Borrowing Capacity, Amount $ 500,000       $ 1,200,000
v3.25.3
COMMON STOCK: Level 4 (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
$ / shares
shares
Sep. 30, 2024
shares
Sep. 30, 2025
USD ($)
$ / shares
shares
Sep. 30, 2024
shares
Shareholders' equity        
Incremental Common Shares Attributable to Dilutive Effect of Equity Forward Agreements 744,000 59,000 311,000 54,000
Idaho Power Company        
Shareholders' equity        
Ratio of Indebtedness to Net Capital 0.54   0.54  
Dividend Distribution Restriction Amount | $ $ 1,200,000   $ 1,200,000  
Dividend Distribution Restriction Threshold 0.35   0.35  
Ratio of total Capital to total capital and long-term debt 0.47   0.47  
Preferred Stock, Shares Outstanding 0   0  
IDACORP        
Shareholders' equity        
Stock Issued During Period, Shares, New Issues     82,924  
Maximum leverage ratio requirement 0.65   0.65  
Ratio of Indebtedness to Net Capital 0.52   0.52  
Dividend Distribution Restriction Amount | $ $ 1,400,000   $ 1,400,000  
IDACORP | Directors        
Shareholders' equity        
Stock Issued During Period, Shares, New Issues     9,273  
IDACORP | Dividend Reinvestment and Stock Purchase Plan        
Shareholders' equity        
Stock Issued During Period, Shares, New Issues     38,176  
IDACORP | Performance Shares        
Shareholders' equity        
Restricted Stock Unit Awards to Employees     82,344  
Stock Issued During Period, Shares, New Issues     35,475  
IDACORP | At-the-Market Offering Program        
Shareholders' equity        
Stock Issued During Period, Shares, New Issues     0  
At-the-Market Offering Program, Maximum Value Of Shares To Be Issued | $     $ 300,000  
Common Stock Capital Shares Reserved For Future Issuance, Remaining | $ $ 155,500   $ 155,500  
IDACORP | Forward Sale Agreements        
Shareholders' equity        
Registered Public Offering, Price Per Share | $ / shares     $ 111.00  
Initial Forward Sale Price, Per Share | $ / shares     $ 107.67  
Registered Public Offering, Initial Common Shares Offered     4,504,505  
Registered Public Offering, Initial Common Shares Offered, Greenshoe     675,675  
Registered Public Offering, Initial Common Shares Offered, Total     5,180,180  
Registered Public Offering, Executed Amount | $     $ 500,000  
Registered Public Offering, Executed Amount, Greenshoe | $     $ 75,000  
Common Shares To Deliver To Settle Forward Sales Agreement, Gross 5,180,180   5,180,180  
Cash To Be Received On Settlement Of Forward Sale Agreement | $ $ 561,000   $ 561,000  
Cash To Deliver To Settle Forward Sales Agreement, Net | $ $ 81,600   $ 81,600  
Common Shares To Deliver To Settle Forward Sales Agreement, Net 658,896   658,896  
IDACORP | ATM Forward Sale Agreements        
Shareholders' equity        
Forward Sale Price, Price Per Share | $ / shares $ 114.58   $ 114.58  
Registered Public Offering, Initial Common Shares Offered     452,256  
Registered Public Offering, Executed Amount | $     $ 52,200  
Registered Public Offering, Commission and Fees Amount | $     $ 700  
Common Shares To Deliver To Settle Forward Sales Agreement, Gross 1,254,170   1,254,170  
Cash To Be Received On Settlement Of Forward Sale Agreement | $ $ 143,706   $ 143,706  
Cash To Deliver To Settle Forward Sales Agreement, Net | $ $ 11,900   $ 11,900  
Common Shares To Deliver To Settle Forward Sales Agreement, Net 96,141   96,141  
IDACORP | ATM Forward Sale Agreements Maturity 11/12/25        
Shareholders' equity        
Forward Sale Price, Price Per Share | $ / shares $ 114.29   $ 114.29  
Common Shares To Deliver To Settle Forward Sales Agreement, Gross 500,000   500,000  
Cash To Be Received On Settlement Of Forward Sale Agreement | $ $ 57,143   $ 57,143  
IDACORP | ATM Forward Sale Agreements Maturity 12/31/25        
Shareholders' equity        
Forward Sale Price, Price Per Share | $ / shares $ 115.32   $ 115.32  
Common Shares To Deliver To Settle Forward Sales Agreement, Gross 301,914   301,914  
Cash To Be Received On Settlement Of Forward Sale Agreement | $ $ 34,816   $ 34,816  
IDACORP | ATM Forward Sale Agreements Maturity 3/31/26 1        
Shareholders' equity        
Forward Sale Price, Price Per Share | $ / shares $ 115.02   $ 115.02  
Common Shares To Deliver To Settle Forward Sales Agreement, Gross 198,086   198,086  
Cash To Be Received On Settlement Of Forward Sale Agreement | $ $ 22,783   $ 22,783  
IDACORP | ATM Forward Sale Agreements Maturity 3/31/26 2        
Shareholders' equity        
Forward Sale Price, Price Per Share | $ / shares $ 113.95   $ 113.95  
Common Shares To Deliver To Settle Forward Sales Agreement, Gross 254,170   254,170  
Cash To Be Received On Settlement Of Forward Sale Agreement | $ $ 28,964   $ 28,964  
v3.25.3
EARNINGS PER SHARE: Level 4 (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Numerator:        
Net Income Attributable to IDACORP, Inc. $ 124,437 $ 113,605 $ 279,865 $ 251,298
Denominator:        
Weighted-average common shares outstanding - basic 54,172 53,386 54,147 52,112
Effect of dilutive securities [1] 883 99 375 67
Weighted-average common shares outstanding - diluted 55,055 53,485 54,522 52,179
Earnings attributable to IDACORP, Inc. - basic (in dollars per share) $ 2.30 $ 2.13 $ 5.17 $ 4.82
Earnings attributable to IDACORP, Inc. - diluted (in dollars per share) $ 2.26 $ 2.12 $ 5.13 $ 4.82
[1] Includes the effect of dilutive securities related to FSAs. See Note 6 - "Common Stock" for additional information concerning IDACORP's FSAs.
v3.25.3
COMMITMENTS: Purchase Obligations (Details) - Idaho Power Company
$ in Thousands
 9 Months Ended
Sep. 30, 2025
USD ($)
Termination Of Contracts To Acquire And Own Wind Facility and Wind Power  
Long-Term Purchase Commitment  
Purchase Obligation $ 2,500,000
Contract to acquire and own equipment and related technical service  
Long-Term Purchase Commitment  
Purchase Obligation 127,800
Payments to Acquire Productive Assets 25,600
Long-Term Contract for Purchase of Solar Power  
Long-Term Purchase Commitment  
Purchase Obligation $ 206,700
Long-Term Contract for Purchase of Solar Power | Maximum  
Long-Term Purchase Commitment  
Long-Term Purchase Commitment, Period 25 years
Long-Term Contract for Purchase of Hydro Power  
Long-Term Purchase Commitment  
Purchase Obligation $ 41,400
Long-Term Contract for Purchase of Hydro Power | Maximum  
Long-Term Purchase Commitment  
Long-Term Purchase Commitment, Period 20 years
Long-Term Contract for Purchase of Gas Transportation Capacity  
Long-Term Purchase Commitment  
Purchase Obligation $ 369,400
Termination Of Contracts To Acquire And Own Wind Facility and Wind Power | Maximum  
Long-Term Purchase Commitment  
Long-Term Purchase Commitment, Period 35 years
v3.25.3
COMMITMENTS: Guarantees (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Idaho Power Company  
Guarantor Obligations  
IERCo guarantee of BCC reclamation obligation $ 51.9
Bridger Coal Company  
Guarantor Obligations  
IERCo guarantee of BCC reclamation obligation $ 155.6
v3.25.3
LEASES: Level 4 (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Rate
Sep. 30, 2025
USD ($)
Rate
Lease, Cost [Line Items]    
Finance Lease, Right-of-Use Asset, Amortization $ 1,639 $ 2,368
Finance Lease, Interest Expense 3,478 [1] 5,132 [1]
Finance Lease, Cost 5,117 7,500
Variable Lease, Cost 270 435
Lease, Cost 5,387 7,935
Finance Lease, Liability, Current $ 6,067 $ 6,067
Finance Lease, Weighted Average Remaining Lease Term 19 years 7 months 17 days 19 years 7 months 17 days
Finance Lease, Weighted Average Discount Rate, Percent | Rate 6.17% 6.17%
Finance Lease, Liability, to be Paid, Maturity [Line Items]    
Finance Lease, Liability, to be Paid, Next Rolling 12 Months $ 4,848 $ 4,848
Finance Lease, Liability, to be Paid, Year One 19,751 19,751
Finance Lease, Liability, to be Paid, Year Two 19,751 19,751
Finance Lease, Liability, to be Paid, Year Three 19,751 19,751
Finance Lease, Liability, to be Paid, Year Four 19,751 19,751
Finance Lease, Liability, to be Paid, after Year Five 303,657 303,657
Finance Lease, Liability, to be Paid 387,509 [2] 387,509 [2]
Finance Lease, Liability, Undiscounted Excess Amount (163,260) (163,260)
Finance Lease, Liability $ 224,249 $ 224,249
[1] Included in operating activities in the condensed consolidated statements of cash flows as cash paid for amounts included in the measurement of lease liabilities.
[2] The aggregate amount of future fixed lease payments represented above, and future variable lease payments, were disclosed as a purchase obligation in Note 9 - "Commitments" to the consolidated financial statements included in the 2024 Annual Report.
v3.25.3
BENEFIT PLANS: Level 4 (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
plan
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
plan
Sep. 30, 2024
USD ($)
Defined Benefit Plan Disclosure        
Number of plans | plan 2   2  
Service cost $ 8,576 $ 9,564 $ 25,213 $ 26,806
Interest cost 16,532 15,588 48,573 45,253
Expected return on plan assets (17,676) (16,697) (53,038) (51,273)
Amortization of prior service cost 401 1,598 1,202 2,606
Amortization of net loss (268) (45) (806) (137)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 7,565 10,008 21,144 23,255
Regulatory deferral of net periodic benefit cost (5,058) [1] (7,269) [1] (13,620) [2] (15,320) [2]
IPUC Authorized recovered pension cost 8,796 [1] 8,796 [1] 26,387 [2] 26,387 [2]
Net periodic benefit cost recognized for financial reporting 11,303 [1],[3] 11,535 [1],[3] 33,911 [2],[4] 34,322 [2],[4]
Net Periodic Benefit cost recognize in Other operations and maintenance 9,800 9,400 29,400 28,200
Net Periodic Benefit cost recognized in other expense, net 1,500 2,100 4,500 6,100
Pension Plan        
Defined Benefit Plan Disclosure        
Service cost 8,115 9,127 23,830 25,494
Interest cost 14,379 13,549 42,113 39,136
Expected return on plan assets (17,229) (16,240) (51,698) (49,900)
Amortization of prior service cost 2 1,156 5 1,280
Amortization of net loss 0 0 0 0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 5,267 7,592 14,250 16,010
Regulatory deferral of net periodic benefit cost (5,058) [1] (7,269) [1] (13,620) [2] (15,320) [2]
IPUC Authorized recovered pension cost 8,796 [1] 8,796 [1] 26,387 [2] 26,387 [2]
Net periodic benefit cost recognized for financial reporting 9,005 [1],[3] 9,119 [1],[3] 27,017 [2],[4] 27,077 [2],[4]
Pension Plan | Idaho Power Company        
Defined Benefit Plan Disclosure        
Defined Benefit Plan, Contributions by Employer     20,000  
Senior Management Security Plan        
Defined Benefit Plan Disclosure        
Service cost 293 262 879 788
Interest cost 1,410 1,333 4,230 3,999
Expected return on plan assets 0 0 0 0
Amortization of prior service cost 55 55 166 165
Amortization of net loss 173 329 518 984
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 1,931 1,979 5,793 5,936
Net periodic benefit cost recognized for financial reporting 1,931 1,979 5,793 5,936
Postretirement Benefits Plan        
Defined Benefit Plan Disclosure        
Service cost 168 175 504 524
Interest cost 743 706 2,230 2,118
Expected return on plan assets (447) (457) (1,340) (1,373)
Amortization of prior service cost 344 387 1,031 1,161
Amortization of net loss (441) (374) (1,324) (1,121)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 367 437 1,101 1,309
Net periodic benefit cost recognized for financial reporting $ 367 $ 437 $ 1,101 $ 1,309
[1] Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
[2] Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
[3] Of total net periodic benefit cost recognized for financial reporting, $9.8 million and $9.4 million, respectively, were recognized in "Other operations and maintenance" and $1.5 million and $2.1 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the three months ended September 30, 2025 and 2024.
[4] Of total net periodic benefit cost recognized for financial reporting, $29.4 million and $28.2 million, respectively, were recognized in "Other operations and maintenance" and $4.5 million and $6.1 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the nine months ended September 30, 2025 and 2024.
v3.25.3
Derivative Instruments Gains (Loss) on Derivatives Recognized in Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Financial Swaps | Operating revenues        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] $ 270 $ 954 $ 559 $ 4,575
Financial Swaps | Purchased power        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] (1,948) (3,786) (2,927) (4,311)
Financial Swaps | Fuel Expense        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] (9,145) (18,359) (21,881) (43,544)
Forward contracts | Operating revenues        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] (4) 0 387 1,278
Forward contracts | Purchased power        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] 12 (1,454) (458) (3,135)
Forward contracts | Fuel Expense        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] $ (322) $ (335) $ (1,153) $ (556)
[1] Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.
v3.25.3
Derivative Instruments Fair Value and Offsets Table (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset $ 4,477 $ 5,188
Derivative Asset, Fair Value, Gross Liability (4,373) (5,188)
Derivative Asset, Fair Value, Amount Offset Against Collateral 104 0
Derivative Liability, Fair Value, Gross Liability 36,819 31,776
Derivative Liability, Fair Value, Gross Asset (21,151) (15,517)
Derivative Liability, Fair Value, Amount Offset Against Collateral 15,668 16,259
Other Current Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset 13,600 11,900
Other Assets    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Collateral, Obligation to Return Cash, Offset   1,500
Other Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset 3,200  
Financial Swaps | Other Current Assets    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 106  
Derivative Asset, Fair Value, Gross Liability (2)  
Derivative Asset, Fair Value, Amount Offset Against Collateral 104  
Derivative Liability, Fair Value, Gross Liability 2  
Derivative Liability, Fair Value, Gross Asset (2)  
Derivative Liability, Fair Value, Amount Offset Against Collateral 0  
Financial Swaps | Other Current Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 2,836 3,072
Derivative Asset, Fair Value, Gross Liability (2,836) (3,072)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 20,476 18,092
Derivative Liability, Fair Value, Gross Asset (16,421) [1] (14,931) [2]
Derivative Liability, Fair Value, Amount Offset Against Collateral 4,055 3,161
Financial Swaps | Other Assets    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset   1,939
Derivative Asset, Fair Value, Gross Liability [3]   (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 Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 1,535 177
Derivative Asset, Fair Value, Gross Liability (1,535) (177)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 4,788 1,019
Derivative Liability, Fair Value, Gross Asset (4,728) [4] (177)
Derivative Liability, Fair Value, Amount Offset Against Collateral 60 842
Forward contracts | Other Current Liabilities    
Derivatives, Fair Value [Line Items]    
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 892 1,291
Derivative Liability, Fair Value, Gross Asset 0 0
Derivative Liability, Fair Value, Amount Offset Against Collateral 892 1,291
Forward contracts | Other Liabilities    
Derivatives, Fair Value [Line Items]    
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 10,661 10,965
Derivative Liability, Fair Value, Gross Asset 0 0
Derivative Liability, Fair Value, Amount Offset Against Collateral $ 10,661 $ 10,965
[1] Current liability derivative amounts offset include $13.6 million of collateral receivable at September 30, 2025.
[2] Current liability derivative amounts offset include $11.9 million of collateral receivable at December 31, 2024.
[3] Long-term asset derivative amounts offset include $1.5 million of collateral payable at December 31, 2024.
[4] Long-term liability derivative amounts offset include $3.2 million of collateral receivable at September 30, 2025.
v3.25.3
Derivative Commodities and Disclosures (Details)
MWh in Thousands, MMBTU in Thousands
Sep. 30, 2025
MWh
MMBTU
Sep. 30, 2024
MWh
MMBTU
Electricity (MWh) | Long    
Derivative    
Derivative, Number of Instruments Held 208 220
Electricity (MWh) | Short    
Derivative    
Derivative, Number of Instruments Held 0 16
Natural Gas (MMBTU) | Long    
Derivative    
Derivative, Number of Instruments Held | MMBTU 114,725 30,133
v3.25.3
DERIVATIVE FINANCIAL INSTRUMENTS: - Narrative (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives in a net liability position $ 39.0
Collateral Already Posted, Aggregate Fair Value 30.6
Additional Collateral, Aggregate Fair Value $ 28.7
v3.25.3
FAIR VALUE MEASUREMENTS: Level 4 (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] $ 129,934 $ 146,308
Derivative Assets 104 0
Equity Securities, FV-NI 36,251 39,772
Derivative Liabilities 15,668 16,259
Idaho Power Company    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 137,260 158,999
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 129,934 146,308
Derivative Assets 104 0
Equity Securities, FV-NI 36,251 39,772
Assets, Fair Value Disclosure [1] 0 0
Derivative Liabilities 4,115 4,003
Fair Value, Inputs, Level 1 [Member] | Idaho Power Company    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 137,260 158,999
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 0 0
Derivative Assets 0 0
Equity Securities, FV-NI 0 0
Assets, Fair Value Disclosure [1] 0 0
Derivative Liabilities 11,553 12,256
Fair Value, Inputs, Level 2 [Member] | Idaho Power Company    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 0 0
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 0 0
Derivative Assets 0 0
Equity Securities, FV-NI 0 0
Assets, Fair Value Disclosure [1] 0 0
Derivative Liabilities 0 0
Fair Value, Inputs, Level 3 [Member] | Idaho Power Company    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 0 0
Fair Value Measured at Net Asset Value Per Share    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, Fair Value Disclosure [1] $ 5,989 $ 4,099
[1] Holding company only. Does not include amounts held by Idaho Power.
v3.25.3
FAIR VALUE MEASUREMENTS: Fair Value, by Balance Sheet Grouping (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Corporate Fixed-Income And Asset-Backed Debt Securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value $ 1,400 $ 2,700
Carrying Amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes Receivable [1] 2,155 2,155
Held-to-maturity securities [1],[2] 32,957 32,151
Long-term debt [1] 3,447,052 3,073,662
Carrying Amount | Idaho Power Company    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities [1],[2] 32,957 32,151
Long-term debt [1] 3,447,052 3,073,662
Estimated Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes Receivable [1] 2,155 2,155
Held-to-maturity securities [1],[2] 31,514 29,428
Long-term debt [1] 3,299,724 2,807,803
Estimated Fair Value | Idaho Power Company    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities [1],[2] 31,514 29,428
Long-term debt [1] $ 3,299,724 $ 2,807,803
[1]
(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 13 - "Fair Value Measurements."
[2]
(2) All held-to-maturity securities are carried at amortized cost and were in a gross unrealized holding loss position totaling $1.4 million and $2.7 million as of September 30, 2025, and December 31, 2024, respectively. Substantially all of these debt securities mature between 2027 and 2038. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect payment defaults or delinquencies and had not recorded an allowance for credit losses for these securities as of September 30, 2025, and December 31, 2024.
v3.25.3
SEGMENT INFORMATION: Level 4 (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Segment Reporting Information          
Total operating revenues $ 524,417 $ 528,527 $ 1,407,754 $ 1,428,502  
Depreciation 64,493 56,388 185,407 165,133  
Other income, net 19,289 18,770 55,056 49,206  
Other Interest and Dividend Income 10,884 9,887 33,703 30,592  
Earnings of unconsolidated equity-method investments 2,185 1,978 4,208 3,880  
Interest Expense, Operating and Nonoperating 44,884 34,146 124,354 99,425  
Income Tax Expense (Benefit) 7,686 16,358 (11,460) 18,876  
Net Income Attributable to IDACORP, Inc. 124,437 113,605 279,865 251,298  
Segment, Expenditure, Addition to Long-Lived Assets 290,723 218,063 825,352 823,969  
Total assets 10,075,985   10,075,985   $ 9,239,363
Eliminations          
Segment Reporting Information          
Total operating revenues 0 0 0 0  
Depreciation 0 0 0 0  
Other income, net 0 0 0 0  
Other Interest and Dividend Income (761) (854) (2,275) (2,418)  
Earnings of unconsolidated equity-method investments 0 0 0 0  
Interest Expense, Operating and Nonoperating (761) (854) (2,275) (2,418)  
Income Tax Expense (Benefit) 0 0 0 0  
Net Income Attributable to IDACORP, Inc. 0 0 0 0  
Segment, Expenditure, Addition to Long-Lived Assets 0 0 0 0  
Total assets (93,268)   (93,268)    
Idaho Power Company | Operating Segments          
Segment Reporting Information          
Total operating revenues 523,549 527,487 1,405,173 1,425,606  
Depreciation 64,493 56,388 185,407 165,133  
Other income, net 19,196 18,828 55,200 49,397  
Other Interest and Dividend Income 8,967 8,558 27,541 27,682  
Earnings of unconsolidated equity-method investments 996 841 2,150 1,936  
Interest Expense, Operating and Nonoperating 44,796 34,061 124,019 99,175  
Income Tax Expense (Benefit) 7,321 16,444 (12,084) 19,885  
Net Income Attributable to IDACORP, Inc. 122,156 111,089 273,121 245,779  
Segment, Expenditure, Addition to Long-Lived Assets 290,600 218,041 825,100 823,855  
Total assets 9,825,112   9,825,112    
Other Operating Segment | Operating Segments          
Segment Reporting Information          
Total operating revenues 868 1,040 2,581 2,896  
Depreciation 0 0 0 0  
Other income, net 93 (58) (144) (191)  
Other Interest and Dividend Income 2,678 2,183 8,437 5,328  
Earnings of unconsolidated equity-method investments 1,189 1,137 2,058 1,944  
Interest Expense, Operating and Nonoperating 849 939 2,610 2,668  
Income Tax Expense (Benefit) 365 (86) 624 (1,009)  
Net Income Attributable to IDACORP, Inc. 2,281 2,516 6,744 5,519  
Segment, Expenditure, Addition to Long-Lived Assets 123 $ 22 252 $ 114  
Total assets $ 344,141   $ 344,141    
v3.25.3
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]        
Balance at beginning of period     $ 3,330,954  
Reclassifications $ 171 $ 285 511 $ 853
Total IDACORP, Inc. shareholders’ equity 3,481,083 3,269,745 3,481,083 3,269,745
Balance at end of period 3,481,083 3,269,745 3,481,083 3,269,745
Reclassification out of Accumulated Other Comprehensive Income        
Amortization of prior service cost [1] 55 55 166 165
Amortization of net loss [1] 173 329 518 984
Total reclassification, before tax - pension and postretirement benefits 228 384 684 1,149
Tax benefit [2] (57) (99) (173) (296)
Reclassifications 171 285 511 853
Accumulated Defined Benefit Pension Items        
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]        
Balance at beginning of period (13,481) (16,616) (13,592) (17,184)
Other Comprehensive Income (Loss) before Reclassifications, Tax 0 0 229 0
Reclassifications 171 285 511 853
Total IDACORP, Inc. shareholders’ equity (13,310) (16,331) (13,310) (16,331)
Balance at end of period (13,310) (16,331) (13,310) (16,331)
Reclassification out of Accumulated Other Comprehensive Income        
Reclassifications $ 171 $ 285 $ 511 $ 853
[1] Amortization of these items is included in IDACORP's condensed consolidated statements of income in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net.
[2] The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.
v3.25.3
CHANGES IN IDAHO POWER RETAINED EARNINGS (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Retained Earnings Roll Forward [Roll Forward]        
Balance at beginning of period     $ 2,149,548  
Net Income Attributable to IDACORP, Inc. $ 124,437 $ 113,605 279,865 $ 251,298
Balance at end of period 2,289,174   2,289,174  
Idaho Power Company        
Retained Earnings Roll Forward [Roll Forward]        
Balance at beginning of period 2,153,655 2,041,364 2,096,151 1,991,319
Net Income Attributable to IDACORP, Inc. 122,156 111,089 273,121 245,779
Dividends (46,778) (44,458) (140,239) (129,103)
Balance at end of period $ 2,229,033 $ 2,107,995 $ 2,229,033 $ 2,107,995