Fwd: Idaho Power proposes minimum rate to seek bonds

[Tom Trail <ttrail@moscow.com>]

Visionaries:

I thought some of you might be interested in the following press release
from the Idaho Public
Utilities Commission.

Rep. Tom Trail

>Case No. IPC-E-01-19
>IDAHO PUBLIC UTILITIES COMMISSION
>
>NEWS RELEASE
>For Immediate Release  / June 5, 2001
>Contact: Gene Fadness (208) 334-0339
>
>Idaho Power proposes minimum rate to seek bonds
>     BOISE - Idaho Power Co. is proposing a minimum of a one-cent per kWh
>increase to its customers before it would request authority from the Idaho
>Public Utilities Commission to issue bonds to recover large energy cost
>increases.
>     The 2001 Idaho Legislature passed a bill that allows utilities, with
>commission approval, to recover large energy cost increases by issuing
>bonds.
>     The bill, S1255, signed into law by Gov. Dirk Kempthorne, gives
>utilities up to five years to re-pay bondholders, thus leveling the impact
>of the increase on the utility's customers by spreading the costs over
>those years.
>     The law requires utilities to file with the commission a minimum
>energy cost amount that would serve as a base before the utility seeks
>authority to issue bonds.
>     Idaho Power Co. is applying to the commission for a minimum energy
>cost amount of 1 cent per kWh. In other words, if Idaho Power had to
>recover power purchase costs that would result in a rate increase to its
>customers of 1 cent per kWh or more, it would be eligible to seek
>authority from the commission to issue bonds. Based on 1999 figures, it
>would take a minimum of $127.7 million in power purchase costs beyond what
>the company can recover from customers under its current rates to cause an
>increase of 1 cent per kWh.
>     The commission is taking written comments on Idaho Power's proposal
>to establish the 1-cent minimum.
>     Comments must be filed by June 14 and can be mailed to P.O. Box
>83720, Boise, ID 83720-0074, faxed to (208) 334-3762, or posted on the
>PUC's Web site at http://www.puc.state.id.us
>			-30-
>
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>You are currently subscribed to the Idaho Public Utilities Commission
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>message to gfadnes@puc.state.id.us.
>

Dr. Tom Trail
International Trails
1375 Mt. View Rd.
Moscow, Id. 83843
Tel:  (208) 882-6077
Fax:  (208) 882-0896
e mail ttrail@moscow.com