REVENUES: (Notes)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Text Block]

REVENUES

The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power for the three and six months ended June 30, 2019 and 2018 (in thousands):



	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Electric utility operating revenues:
Revenue from contracts with customers	$	307,779	$	331,298	$	643,180	$	620,871
Alternative revenue programs and other revenues	7,995		7,401		22,366		27,289
Total electric utility operating revenues	$	315,774	$	338,699	$	665,546	$	648,160

Revenues from Contracts with Customers

The following table presents revenues from contracts with customers disaggregated by revenue source for the three and six months ended June 30, 2019 and 2018 (in thousands):



	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Revenues from contracts with customers:
Retail revenues:
Residential (includes $7,232, $5,508, $18,543, and $19,052, respectively, related to the FCA)⁽¹⁾	$	104,797		$	109,155		$	255,016		$	255,838
Commercial(includes $350, $291, $691, and $652, respectively, related to the FCA)⁽¹⁾	70,973			76,965			144,079			151,191
Industrial	45,602			48,868			91,100			94,660
Irrigation	48,954			65,065			49,953			65,471
Deferred revenue related to HCC relicensing AFUDC⁽²⁾	(1,927		)	(1,462		)	(4,046		)	(4,046		)
Total retail revenues	268,399			298,591			536,102			563,114
Less: FCA mechanism revenues⁽¹⁾	(7,582		)	(5,799		)	(19,234		)	(19,704		)
Wholesale energy sales	16,158			8,919			63,373			22,685
Transmission wheeling-related revenues	12,518			14,500			28,246			26,198
Energy efficiency program revenues	11,458			8,802			21,570			16,399
Other revenues from contracts with customers	6,828			6,285			13,123			12,179
Total revenues from contracts with customers	$	307,779		$	331,298		$	643,180		$	620,871

(1) The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.

(2) As part of its January 30, 2009, general rate case order, the IPUC is allowing Idaho Power to recover a portion of the allowance for funds used during construction (AFUDC) on construction work in progress related to the Hells Canyon Complex (HCC) relicensing process, even though the relicensing process is not yet complete and the costs have not been moved to electric plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service.

Alternative Revenue Programs and Other Revenues

While revenues from contracts with customers make up most of Idaho Power’s revenues, the IPUC has authorized the use of an additional regulatory mechanism, which may increase or decrease tariff-based rates billed to customers. The Idaho FCA mechanism is described in "Note 3 - Regulatory Matters." The FCA mechanism revenues include only the initial recognition of FCA revenues when revenues meet the regulator-specified conditions for recognition. Revenue from contracts with customers excludes the portion of the tariff price representing FCA revenues that Idaho Power initially recorded in prior periods when revenues met regulator-specified conditions. When Idaho Power includes those amounts in the price of utility service billed to customers, Idaho Power records such amounts as recovery of the associated regulatory asset or liability and not as revenues.

The table below presents the FCA mechanism revenues and other revenues for the three and six months ended June 30, 2019 and 2018 (in thousands):



	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Alternative revenue programs and other revenues:
FCA mechanism revenues	$	7,582	5,799		$	19,234	$	19,704
Derivative revenues	413		1,602		3,132		7,585
Total alternative revenue programs and other revenues	$	7,995	$	7,401	$	22,366	$	27,289