Ross Sauler's questions to Idacorp Inc (IDA) leadership • Q3 2024
Question
Ross Sauler from Bank of America asked about customer rate affordability, specifically how the significant industrial load growth mitigates bill increases for residential customers. He also inquired about the future cadence of rate cases and any updates to earnings guidance.
Answer
SVP & CFO Brian Buckham explained that a "no harm analysis" ensures new large industrial customers cover the costs of the infrastructure they require, which significantly mitigates rate impacts on existing residential customers. He noted that while some system-wide upgrades benefit all, dedicated infrastructure is paid for upfront by industrial users. President & CEO Lisa Grow and CFO Brian Buckham confirmed that an annual rate case cadence is a "reasonable assumption" to reduce regulatory lag, though multi-year arrangements are also possible. Buckham declined to provide more specific long-term earnings guidance, pointing to the rate base growth methodology as the best indicator.