Customers of Idaho Power Co. are going to see a slight drop in their monthly bills, thanks to rate adjustments recently approved by the Idaho Public Utilities Commission.
The PUC-approved rate changes will equate to a .65-percent dip in residential rates, which amounts to a savings of 59 cents each month for a customer who uses 950 kilowatt hours of energy monthly, according to Idaho Power.
Two of the rate adjustments mostly offset—a fixed cost adjustment increase of 3.64 percent, and a power cost adjustment decrease of 3.49 percent.
The PUC approved a third adjustment, which is an increase of .11 percent that will allow Idaho Power to recoup expenses from the faster retirement of the North Valmy coal-fired power plant.
The final rate adjustment was a decrease to the Energy Efficiency Rider, which will be assessed as a surcharge of 2.75 percent on customers’ bills rather than the prior 3.75 percent. The reason for the drop is to align funding in its demand-side management programs with newly updated expenditure forecasts.
The new rates took effect on June 1.