-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OsB+6QZmKbGRZLnI4C7xYBNSK8XTXxmk4Yl1NyqOl0QeCG3oupWSvg+5CSON8AuP m/SrfFnqHkWYu1jVDH/fRA== 0001057877-03-000024.txt : 20030516 0001057877-03-000024.hdr.sgml : 20030516 20030516130116 ACCESSION NUMBER: 0001057877-03-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030516 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDACORP INC CENTRAL INDEX KEY: 0001057877 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 820505802 STATE OF INCORPORATION: ID FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14465 FILM NUMBER: 03707900 BUSINESS ADDRESS: STREET 1: 1221 WEST IDAHO STREET CITY: BOISE STATE: ID ZIP: 83702-5627 BUSINESS PHONE: 2083882200 MAIL ADDRESS: STREET 1: PO BOX 70 STREET 2: 1221 WEST IDAHO STREET CITY: BOISE STATE: ID ZIP: 83702-5627 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDAHO POWER CO CENTRAL INDEX KEY: 0000049648 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 820130980 STATE OF INCORPORATION: ID FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03198 FILM NUMBER: 03707901 BUSINESS ADDRESS: STREET 1: 1221 W IDAHO ST STREET 2: PO BOX 70 CITY: BOISE STATE: ID ZIP: 83702 BUSINESS PHONE: 2083882200 MAIL ADDRESS: STREET 1: PO BOX 70 STREET 2: 1221 W IDAHO STREET CITY: BOISE STATE: ID ZIP: 83702-5627 8-K 1 a8k1.htm Heading 1

 

 

 

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

 

 

 

Date of Report (Date of earliest event reported) May 16, 2003

 

 

 

Exact name of registrants as specified in

 

 

Commission

 

their charters, address of principal executive

 

IRS Employer

File Number

 

offices and registrants' telephone number

 

Identification Number

1-14465

 

IDACORP, Inc.

 

82-0505802

1-3198

 

Idaho Power Company

 

82-0130980

 

 

1221 W. Idaho Street

 

 

 

 

Boise, ID 83702-5627

 

 

 

 

(208) 388-2200

 

 

 

 

 

 

 

State or Other Jurisdiction of Incorporation:  Idaho

 

 

 

None

Former name or former address, if changed since last report.

 

 

 

 

IDACORP, Inc.
IDAHO POWER COMPANY
Form 8-K

Item 5. Other Events And Regulation FD Disclosure

On May 16, 2003, IDACORP announced the settlement with FERC of issues surrounding activities between IDACORP affiliates, Idaho Power Company and IDACORP Energy.  Please refer to the press release filed as an exhibit hereto.

Certain statements contained in this Current Report on Form 8-K, including statements with respect to future earnings, ongoing operations and financial conditions, are "forward-looking statements" within the meaning of the federal securities laws.  Although IDACORP and Idaho Power Company believe that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements involve a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements.  Important factors that could cause actual results to differ materially from the forward-looking statements include:  capacity and fuel; weather variations affecting customer energy usage; operating performance of plants and other facilities; environmental conditions and requirements; system conditions and operating costs; changes in governmental policies; and regulatory actions, including those of the FERC, the Idaho Public Utilities Commission, and the Oregon Public Utilities Commission, with respect to allowed rates of return, industry and rate structure, acquisition and disposal of assets and facilities, operation and construction of plant facilities, recovery of purchased power and other capital investments, and present or prospective wholesale and retail competition (including but not limited to retail wheeling and transmission costs).  Any such forward-looking statements should be considered in light of such factors and others noted in the Companies' Form 10-K for the year 2002 and the Quarterly Report on Form10-Q for the quarter ended March 31, 2003, and other reports on file with the Securities and Exchange Commission.

Item 7.  Financial Statements and Exhibits

(c)        Exhibits

Exhibits                        Description
     99                           Press Release issued by IDACORP dated May 16, 2003

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

 

Dated: May 16, 2003

IDACORP, Inc.

 

By:/s/Darrel T. Anderson
Darrel T. Anderson
Vice President, Chief Financial
Officer and Treasurer

 

 

 

 

IDAHO POWER COMPANY

By:/s/Darrel T. Anderson
Darrel T. Anderson
Vice President, Chief Financial
Officer and Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit Index

 

 

Exhibit Number                                    Exhibit

       99                                                 Press Release by IDACORP dated May 16, 2003.

 EX-99 3 aex991.htm Exhibit 99

Exhibit 99

FERC Approves Stipulation and Consent Agreement on Issues Surrounding Activities Between IDACORP Affiliates

Resolves Issues Company
Voluntarily Disclosed in September 2002

No Adverse Effect on Utility's Retail Customers

 

BOISE, IDAHO - The Federal Energy Regulatory Commission (FERC) has approved a Stipulation and Consent Agreement between IDACORP, Inc. (NYSE: IDA) and FERC Enforcement staff which resolves issues IDACORP voluntarily disclosed last year regarding activities between its energy marketing and electric utility affiliates.  The agreement also resolves issues regarding Idaho Power's compliance with FERC's standards of conduct.

"This agreement is the most recent example of our continued efforts to resolve all issues related to the winding down of IDACORP Energy and our exit from the wholesale energy marketing sector," said IDACORP President and Chief Executive Officer Jan B. Packwood.  "By working forthrightly with the FERC a reasonable and timely resolution has been achieved."

The agreement with the FERC is the result of an informal, non-public investigation conducted by FERC staff after the Company notified the agency of these issues in September 2002.  The agreement approved today by the FERC documented the agency staff's findings in the informal investigation and prescribed the actions to be taken by the company in order to resolve them.  These actions include:

 

  • Provisions for the refund of $321,518 to certain counter-parties by Idaho Power and IDACORP Energy, L.P. associated with inappropriate use of native load priority and a failure to obtain the required FERC approval prior to assigning certain contracts from Idaho Power to IDACORP Energy.
  • Transfer of $5.8 million in benefits from IDACORP Energy to Idaho Power as a result of certain transactions between the affiliates.  The full $5.8 million has been previously transferred.  Approximately $4 million was included as a credit to the utility's customers in the calculation of Idaho Power's 2002 Power Cost Adjustment filing with the Idaho Public Utilities Commission.  The remaining amount has been included in the Company's April 15, 2003, Power Cost Adjustment filing.
  • Implementation of certain compliance and auditing programs to assure future compliance with FERC requirements.

"The resolution of these issues and the actions taken as a result complement our ongoing efforts to strengthen our core utility business at Idaho Power," said Packwood.

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