Idaho Power Files 2009 Integrated Resource Plan / Collaborative Process Produces Plan for Responsible, Secure Energy Future

BOISE, Idaho, Jan. 5 /PRNewswire-FirstCall/ -- IDACORP, Inc. principal subsidiary Idaho Power last week filed the 2009 Integrated Resource Plan (IRP) developed through a collaborative planning process connecting Idaho Power resource and planning experts and government, customer, public and environmental organization stakeholders, with the Public Utilities Commissions in both Idaho and Oregon.

"We continually plan for the future, taking steps to best position Idaho Power to meet projected resource requirements 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. The 2009 IRP planning process incorporated additional considerations in light of anticipated regulation, public perception and direct communication with owners, customers and employees."

The 2009 IRP addresses available supply-side and demand-side resource options, planning period load forecasts, potential resource portfolios, a risk analysis and near-term and long-term action plans. The 2009 IRP is available at http://www.idahopower.com/2009IRP. Idaho Power will schedule public presentations regarding the 2009 IRP in multiple communities across the company's eastern Oregon and southern Idaho service area in early 2010. Once confirmed, the public presentation schedule will be posted on Idaho Power's IRP Web page.

"Our collaborative IRP process is the proper forum to plan for a balanced resource portfolio to minimize risk, ensure reliability and consider cost and regulatory obligations," said Stokes. "We see this process as a continuous commitment, and by regularly updating the IRP, we are able to account for changes in service area growth and regulatory requirements."

IDACORP, Inc. , Boise, Idaho-based and formed in 1998, is a holding company comprised of Idaho Power Company, a regulated electric utility; IDACORP Financial, a holder of affordable housing projects and other real estate investments; and Ida-West Energy, an operator of small hydroelectric generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978. IDACORP's origins lie with Idaho Power and operations beginning in 1916. Today, Idaho Power employs 2,050 people to serve a 24,000 square-mile service area in southern Idaho and eastern Oregon. With 17 low-cost hydroelectric projects as the core of its generation portfolio, Idaho Power's 489,000 residential, business and agricultural customers pay some of the nation's lowest prices for electricity. To learn more about Idaho Power or IDACORP, visit http://www.idahopower.com/ or http://www.idacorpinc.com/.

IDACORP, Inc.

CONTACT: Investor and Analyst Contact, Lawrence F. Spencer, Director of
Investor Relations of IDACORP, Inc., [phone], [e-mail];
or Media, Echo Chadwick, Corporate Communication of Idaho Power,
[phone], [e-mail]

Web Site: http://www.idacorpinc.com/