Sep. 17, 2009 (PR Newswire) -- BOISE, Idaho, Sept. 17 /PRNewswire-FirstCall/ -- IDACORP, Inc. (NYSE: IDA) principal subsidiary Idaho Power today announced plans to finalize the 2009 Integrated Resource Plan (IRP) by year-end through the collaborative integrated resource planning process connecting Idaho Power resource and planning experts and government, public, customer and environmental organization stakeholders.
"Here at Idaho Power, we continually plan for the future and take steps to position our company to meet upcoming obligations and anticipated regulation while minimizing the impact to our customers and owners," said Mark Stokes, Idaho Power's power supply planning manager. "This is about doing the right thing for our customers and the ongoing financial strength and stability of our company. Our collaborative IRP process guides us in that respect. We are in the process of finalizing the 2009 IRP. This year, we are incorporating additional considerations and requirements into our planning process in light of anticipated regulation, public perception and direct communication with owners, customers and employees."
Idaho Power's 2004 IRP first identified a need for new baseload generation resources. This need was reaffirmed in the 2006 IRP and was subsequently identified as a combined-cycle combustion turbine in the 2008 IRP update, after the company decided against pursuing additional coal-fired generation. With the Idaho Public Utilities Commission decision granting Idaho Power the Certificate for Public Convenience and Necessity, authorizing the construction of the Langley Gulch Power Plant, a component of the IRP is coming to fruition.
"This decision affirms the value of our collaborative resource planning process and is a significant milestone in implementing our resource portfolio to meet future regulatory requirements," added Stokes. "The addition of this dispatchable resource is a key component in our generation portfolio. It is particularly instrumental in paving the way to further implement intermittent renewable resources, such as wind and solar, which we expect to take on increased importance in a carbon-constrained future."
In addition to developing new resources, such as the Langley Gulch Power Plant, Idaho Power's hydroelectric generation facilities continue to be an integral part of the company's resource portfolio.
"Preserving our hydroelectric base isn't just about dams," said Stokes. "Safeguarding our water rights; relicensing and improving operational efficiencies at our facilities; and efforts that keep water in the rivers, such as cloud seeding and water leases, are core to our business and are in our customers' and owners' best interests.
