IDACORP INC: directors' dealings · United States · SEC (Form 4)

About IDACORP INC

IDACORP, Inc. (NYSE: IDA) is a U.S.-listed holding company headquartered in Boise, Idaho, with Idaho Power Company as its principal operating subsidiary. In practical terms, the investment case is overwhelmingly centered on a regulated electric utility platform, making IDACORP a classic defensive energy-sector name with earnings visibility driven by regulated rates, capital deployment, and service territory growth. Idaho Power traces its operating history back to 1916, while IDACORP was formed in 1998 to serve as the parent holding company. For investors, this creates a straightforward profile: a utility business with limited diversification, but strong local franchise characteristics and a long-standing regulatory framework in Idaho, Oregon, and under FERC oversight. Idaho Power’s core business is the generation, transmission, distribution, sale, and purchase of electric energy and capacity. As of year-end 2024, it served roughly 649,000 retail customers across southern Idaho and eastern Oregon, within a service area of about 24,000 square miles. Its asset base includes high-voltage transmission lines, substations, distribution infrastructure, and battery storage resources, all of which support reliability and system modernization. A major competitive strength is its hydroelectric fleet: the company highlights 17 low-cost hydroelectric projects at the core of a diverse energy mix. That hydro exposure is strategically important because it supports relatively low generation costs, helps balance the resource portfolio, and reinforces the company’s reputation for reliable, clean power. IDACORP’s non-utility activities are smaller but worth noting. IDACORP Financial focuses on affordable housing and other real estate tax credit investments, while Ida-West Energy operates small PURPA-qualifying hydroelectric projects. These businesses are ancillary to the regulated utility, but they provide some incremental diversification around the core franchise. From a competitive standpoint, IDACORP occupies a strong regional position in the U.S. Mountain West and Pacific Northwest utility landscape. Its customer base spans residential, commercial, industrial, and agricultural users, with the agricultural segment particularly relevant in its service area. The company’s geographic concentration in Idaho and eastern Oregon reduces diversification, but it also supports deep local operating expertise and long-duration customer relationships. Management has also emphasized customer satisfaction and operational reliability, which are key indicators in regulated utility investing. Recent developments matter. During 2024 and into 2025, Idaho Power continued to pursue grid investment, reliability initiatives, and regulatory proceedings, including rate-case activity. More recently, in February 2026, Idaho Power signed an asset purchase agreement with OTEC to sell its electric distribution business in Oregon and certain transmission assets there. That transaction is notable because it may reshape the company’s regulatory footprint and asset mix over time. Overall, IDACORP remains a utility-focused NYSE-listed company in the United States, with a conservative business model, regulated cash flows, and a clear reliance on constructive regulatory outcomes and disciplined capital investment.