IDACORP Business Summary

IDACORP INC (IDA) operates as a vertically integrated holding company primarily generating revenue through its principal subsidiary, Idaho Power Company, a regulated electric utility. The company’s business model is centered on the generation, transmission, distribution, and sale of electricity to approximately 650,000 customers across a 24,000-square-mile service area in southern Idaho and eastern Oregon. Revenue is driven by regulated retail rates and wholesale energy sales, with a single reportable segment: utility operations. IDACORP distinguishes itself through a low-cost power profile anchored by its Hells Canyon Complex, which provides roughly 30% of its total generating capacity via hydroelectricity. Direct regional competitors include Portland General Electric (POR), Avista Corp (AVA), and NorthWestern Energy (NWE). Within this peer group, IDACORP maintains a superior market position due to its high renewable energy mix and a 2026 capital expenditure plan of $1.25–$1.35 billion aimed at supporting one of the fastest-growing customer bases in the United States. Leadership is spearheaded by President and CEO Lisa A. Grow, a company veteran with over 38 years of experience who rose through the engineering and operations ranks to the top executive role in 2020. She is supported by Senior Vice President and CFO Brian R. Buckham, who brings a background in corporate law and finance, and Senior Vice President and COO Adam J. Richins, an engineer and attorney overseeing the company’s transition toward a 100% clean energy goal by 2045. The Board of Directors is chaired by Dennis L. Johnson and includes notable members such as Dr. Mark T. Peters, CEO of MITRE, and Odette C. Bolano, former CEO of Saint Alphonsus Health System. The company’s institutional stability is reinforced by significant ownership from major investors, including The Vanguard Group, BlackRock, and Wellington Management Company.