Idacorp

To provide reliable, responsible, fair-priced energy by achieving 100% clean energy by 2045.

Idacorp SWOT Analysis

Updated: October 3, 2025 • 2025-Q4 Analysis

How to Use This Analysis

This analysis for Idacorp was created using Alignment.io™ methodology - a proven strategic planning system trusted in over 75,000 strategic planning projects. We've designed it as a helpful companion for your team's strategic process, leveraging leading AI models to analyze publicly available data.

While this represents what AI sees from public data, you know your company's true reality. That's why we recommend using Alignment.io and The System of Alignment™ to conduct your strategic planning—using these AI-generated insights as inspiration and reference points to blend with your team's invaluable knowledge.

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The Idacorp SWOT analysis reveals a utility at a critical inflection point. Its core strengths—robust customer growth and a low-cost hydro foundation—provide a powerful platform for its ambitious 2045 clean energy vision. However, this vision is challenged by significant weaknesses, namely climate-driven hydro volatility and the immense capital required for modernization. The primary focus must be on disciplined execution of its capital plan, leveraging federal incentives to de-risk the clean energy transition. Securing favorable regulatory outcomes is not just an opportunity but an absolute necessity to align its financial health with its operational goals. The greatest external threats, wildfire and interest rates, demand proactive mitigation strategies to protect both the grid and the balance sheet. This plan must translate strategic intent into financial reality.

PacifiCorp NorthWestern Energy Avista Corp Portland General Electric Puget Sound Energy

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide reliable, responsible, fair-priced energy by achieving 100% clean energy by 2045.

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Strengths

GROWTH: Sustained 2.5% customer growth, triple the national average.
COST: Rates ~25% below the national avg, a key competitive advantage.
HYDRO: Low-cost hydropower base provides affordable, clean generation.
BALANCE: Strong balance sheet and investment-grade credit ratings.
RELIABILITY: Consistently achieving top-quartile grid reliability SAIDI.

Weaknesses

HYDRO: Drought conditions in 2023 reduced hydro output below average.
EXPENSE: O&M expenses rose 8% YoY due to inflation and grid work.
LAG: Regulatory lag in recovering significant capital investments.
COAL: Continued reliance on coal plants (exiting by 2028) costs.
CAPEX: Execution risk on a large $5.2B five-year capital plan.

Opportunities

RATE-CASE: Pending general rate case in Idaho to align rates w/ costs.
IRA: Ability to leverage Inflation Reduction Act tax credits for renewables.
LOAD: New large industrial loads (data centers) entering service area.
BTM: Opportunity to manage behind-the-meter resources (solar, batteries).
TRANSMISSION: Boardman-to-Hemingway line will unlock renewable resources.

Threats

WILDFIRE: Increased risk and mitigation costs, impacting O&M and liability.
INTEREST: Higher interest rates increase cost of capital for new projects.
GAS-PRICES: Volatility in natural gas prices impacts purchased power costs.
REGULATION: Potential for disallowance of capital or expense recovery.
SUPPLY: Supply chain constraints for key components like transformers.

Key Priorities

CAPITALIZE: Fund and execute the $5.2B capital plan for grid modernization.
DECARBONIZE: Accelerate clean energy transition using IRA tax incentives.
OPTIMIZE: Secure constructive rate case outcomes to ensure financial health.
MITIGATE: Proactively manage wildfire and drought risks to ensure reliability.

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Idacorp OKR

Updated: October 3, 2025 • 2025-Q4 Analysis

The Idacorp OKR plan demonstrates a masterful translation of strategic imperatives into focused, actionable objectives. It rightly prioritizes the non-negotiable modernization of the grid while simultaneously accelerating the clean energy transition. The 'DRIVE VALUE' objective correctly identifies regulatory success as the linchpin of the entire strategy, linking operational goals to financial viability. This plan is not a collection of siloed initiatives; it's a tightly integrated system where progress in one area—like de-risking through wildfire mitigation—directly enables the financial health required for long-term investment. This is a CEO-level plan designed for execution, accountability, and impact, creating a clear path from today's challenges to tomorrow's vision.

PacifiCorp NorthWestern Energy Avista Corp Portland General Electric Puget Sound Energy

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide reliable, responsible, fair-priced energy by achieving 100% clean energy by 2045.

MODERNIZE THE GRID

Build a resilient, efficient grid for Idaho's future.

DEPLOY: Invest $1.2B of our 5-year capital plan on time and on budget to upgrade transmission/distribution.
CONNECT: Achieve a 95% success rate for new large load customer connection deadlines to support economic growth.
REDUCE: Decrease the System Average Interruption Duration Index (SAIDI) by 5% through targeted automation.
HARDEN: Complete wildfire hardening projects on 150 miles of distribution lines in high-risk areas.

ACCELERATE CLEAN

Lead the transition to 100% clean energy.

BUILD: Bring 400 MW of new solar and battery storage projects online, leveraging IRA tax credit benefits.
EXIT: Finalize agreements and regulatory filings to exit the Jim Bridger coal plant by the 2028 target date.
PROCURE: Secure long-term power purchase agreements for 200 MW of wind energy to diversify our portfolio.
INNOVATE: Launch a new demand response program for large commercial customers, enrolling 25 MW of flexible load.

DRIVE VALUE

Achieve financial strength via regulatory success.

RATE-CASE: Secure a constructive final order in the Idaho general rate case, achieving at least 90% of requested revenue.
O&M: Limit non-fuel O&M expense growth to 2% below the rate of inflation through targeted efficiency programs.
CREDIT: Maintain strong investment-grade credit ratings from all three major rating agencies (Moody's, S&P, Fitch).
REPORTING: Reduce the lag time between capital investment and rate recovery by 10% via improved regulatory filings.

MANAGE RISK

Protect our assets, people, and community.

WILDFIRE: Reduce wildfire ignitions from company equipment by 20% using enhanced inspections and AI modeling.
HYDRO: Develop and implement a new water management strategy to optimize hydro generation in low-water years.
CYBER: Achieve a top 5% utility industry score on our next third-party cybersecurity maturity assessment.
SAFETY: Reduce our OSHA recordable injury rate by 15% through a new frontline leadership training program.

METRICS

Capital Efficiency Ratio
Allowed Return on Equity (ROE)
Earnings Per Share (EPS) Growth

VALUES

Safety First
Integrity
Respect for All
Accountability

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Idacorp Retrospective

AI-Powered Insights

Claude

Gemini

GPT

Idacorp Q3 2023 10-Q SEC Filing
Idacorp Investor Presentation, November 2023
Idaho Power 2023 Integrated Resource Plan (IRP)
Company Website (idacorpinc.com, idahopower.com)
Press releases and financial news regarding rate cases and projects

PacifiCorp NorthWestern Energy Avista Corp Portland General Electric Puget Sound Energy

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide reliable, responsible, fair-priced energy by achieving 100% clean energy by 2045.

Toggle Theme

What Went Well

CUSTOMERS: Customer base grew by a strong 2.5% year-over-year.
EARNINGS: Delivered solid earnings per share within guidance range.
CAPEX: Successfully deployed record capital for grid improvements.
DIVIDEND: Continued the track record of increasing the common stock dividend.
B2H: Advanced regulatory and right-of-way work on B2H transmission line.

Not So Well

HYDRO: Below-normal hydro generation required more expensive power purchases.
O&M: Operation and maintenance expenses were higher than anticipated.
REGULATORY: Delay in final order for the pending Idaho general rate case.
WEATHER: Mild weather in parts of the year dampened electricity demand.
INFLATION: Persistent inflationary pressures on labor and materials costs.

Learnings

VOLATILITY: Purchased power costs are highly sensitive to hydro conditions.
DIVERSIFY: Importance of diversifying generation mix to mitigate hydro risk.
COSTS: Proactive cost management is crucial in an inflationary environment.
REGULATORY: The regulatory cycle is a key driver of financial performance.
LOAD: Large industrial customer load growth is a significant tailwind.

Action Items

RATE-CASE: Vigorously pursue a constructive outcome in the pending rate case.
PROJECTS: Execute on key clean energy projects (e.g., solar, batteries).
EFFICIENCY: Implement new cost-control initiatives across the organization.
WILDFIRE: Increase investment in wildfire mitigation and vegetation management.
SUPPLY-CHAIN: Secure long-lead time equipment to de-risk CapEx plan.

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Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

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Idacorp Market

AI-Powered Insights

Claude

Gemini

GPT

Idacorp Q3 2023 10-Q SEC Filing
Idacorp Investor Presentation, November 2023
Idaho Power 2023 Integrated Resource Plan (IRP)
Company Website (idacorpinc.com, idahopower.com)
Press releases and financial news regarding rate cases and projects

Founded: 1916 (as Idaho Power)
Market Share: Monopoly in 24,000 sq. mile service area in Idaho/Oregon.
Customer Base: >630,000 residential, commercial, industrial customers.
Category:
Electric Utility
SIC Code: 4911 Electric Services
NAICS Code: 221122 Electric Power Distribution
Location: Boise, Idaho
Zip Code: 83702
Congressional District: ID-2 BOISE
Employees: 2100

Competitors

PacifiCorp Request Analysis

NorthWestern Energy View Analysis

Avista Corp Request Analysis

Portland General Electric View Analysis

Puget Sound Energy Request Analysis

Products & Services

No products or services data available

Distribution Channels

Direct to consumer via owned transmission and distribution grid

Idacorp Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

Idacorp Q3 2023 10-Q SEC Filing
Idacorp Investor Presentation, November 2023
Idaho Power 2023 Integrated Resource Plan (IRP)
Company Website (idacorpinc.com, idahopower.com)
Press releases and financial news regarding rate cases and projects

Problem

Need for reliable, 24/7 electric power.
Demand for affordable energy rates.
Desire for cleaner, sustainable energy.
Economic need for stable infrastructure.

Solution

Generation, transmission, distribution.
Low-cost hydro and renewable portfolio.
Commitment to 100% clean energy by 2045.
Systematic grid investment and upgrades.

Key Metrics

System Average Interruption Duration Index.
Customer growth and satisfaction scores.
O&M cost per customer.
Return on Equity (ROE) allowed by regulators.

Unique

Vertically integrated regulated monopoly.
One of the nation's largest hydro bases.
Fastest-growing service territories.
First utility with 2045 clean energy goal.

Advantage

Exclusive franchise service area.
Ownership of critical, hard-to-replicate assets.
Favorable low-cost generation mix.
Constructive, long-term regulatory relations.

Channels

Direct grid connection to customers.
Website and mobile application.
Customer service call centers.
Direct outreach for large customers.

Customer Segments

Residential customers (45% of load).
Commercial customers (30% of load).
Industrial customers (20% of load).
Irrigation customers (5% of load).

Costs

Capital expenditures for grid/generation.
Fuel and purchased power expenses.
Operations and maintenance (O&M).
Depreciation and amortization.

Idacorp Product Market Fit Analysis

Updated: October 3, 2025

Idacorp powers one of the nation's fastest-growing regions with highly reliable and affordable energy. By leveraging a low-cost hydro foundation, the company is executing a clear, responsible plan to transition to 100% clean energy by 2045, ensuring a sustainable and prosperous future for the communities it serves. This strategy drives stable, predictable growth for investors and customers alike.

RELIABILITY: Providing top-quartile service availability to power your life and business.

AFFORDABILITY: Leveraging our low-cost hydro base to keep rates below national averages.

SUSTAINABILITY: Executing a clear plan to deliver 100% clean energy to our communities.

Before State

Unreliable or non-existent power grids
Dependence on fossil fuels for energy
Manual grid monitoring and outage response
Limited visibility into energy usage data

After State

Consistent, highly reliable electricity
A fully decarbonized energy supply
A smart, resilient, self-healing grid
Empowered customers with energy insights

Negative Impacts

Economic disruption from power outages
Carbon emissions impacting climate change
Slow, reactive maintenance and repairs
Inefficient energy consumption by users

Positive Outcomes

Economic growth and community stability
Sustainable operations meeting climate goals
Improved grid safety and efficiency
Lower energy costs through efficiency

Key Metrics

Customer Growth Rate

2.5% (2023)

Customer Retention Rates

>99% (Regulated Monopoly)

Net Promoter Score (NPS)

Est. 30-40 (J.D. Power Avg)

Repeat Purchase Rates)

100% (Utility service)

Requirements

Significant capital investment in grid
Diversified clean energy resource mix
Advanced metering and sensor technology
Constructive regulatory frameworks

Why Idacorp

Execute $5B+ 5-year capital plan
Develop solar, wind, and battery storage
Deploy grid modernization technologies
Engage proactively with regulators/state

Idacorp Competitive Advantage

Low-cost hydro foundation for transition
Strong service territory population growth
Constructive regulatory relationship
Decades of operational grid expertise

Proof Points

Top-quartile grid reliability metrics
Rates ~25% below the national average
Clear, publicly stated 2045 clean goal
2.5% annual customer growth vs <1% US avg

Idacorp Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

Idacorp Q3 2023 10-Q SEC Filing
Idacorp Investor Presentation, November 2023
Idaho Power 2023 Integrated Resource Plan (IRP)
Company Website (idacorpinc.com, idahopower.com)
Press releases and financial news regarding rate cases and projects

Strategic pillars derived from our vision-focused SWOT analysis

Modernize infrastructure for reliability and growth.

Achieve 100% clean energy goal via diversified assets.

Secure constructive outcomes for financial health.

Drive efficiency and safety across all functions.

What You Do

Generate, transmit, and distribute regulated electric power.

Target Market

Residential, commercial, and industrial customers in Southern Idaho.

Differentiation

One of the nation's lowest-cost energy providers
Significant low-cost, carbon-free hydropower generation base
A defined, ambitious goal for 100% clean energy by 2045

Revenue Streams

Regulated retail and wholesale electricity sales

Idacorp Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

Idacorp Q3 2023 10-Q SEC Filing
Idacorp Investor Presentation, November 2023
Idaho Power 2023 Integrated Resource Plan (IRP)
Company Website (idacorpinc.com, idahopower.com)
Press releases and financial news regarding rate cases and projects

Company Operations

Organizational Structure: Holding company (Idacorp) with primary subsidiary (Idaho Power).
Supply Chain: Fuel (hydro, gas), power purchase agreements, grid equipment.
Tech Patents: Focus on operational tech, not typically patent-driven.
Website: https://www.idacorpinc.com/

Top Clients

Board Members

Idacorp Competitive Forces

Threat of New Entry

VERY LOW: Extremely high capital costs, extensive regulatory hurdles, and the established franchise model make new entry for a competing utility nearly impossible.

Supplier Power

MODERATE: Power plant equipment and fuel (natural gas) suppliers have some pricing power, but this is mitigated by diverse sourcing and long-term contracts.

Buyer Power

MODERATE: Individual customers have low power, but regulators (Public Utility Commissions) wield significant power on behalf of all customers, setting rates and approving projects.

Threat of Substitution

LOW-MODERATE: Distributed generation (rooftop solar) and energy efficiency are growing substitutes, but cannot replace the need for a centralized, reliable grid for the vast majority of users.

Competitive Rivalry

LOW: As a regulated monopoly in a defined service territory, direct competition for retail electricity delivery is virtually non-existent.

Analysis of AI Strategy

Updated: October 3, 2025 • 2025-Q4 Analysis

The Idacorp AI SWOT analysis underscores a significant, untapped opportunity to transform its operational core. The company's foundational strength is its rich trove of operational and grid data—the essential fuel for any impactful AI engine. The immediate path forward is not a moonshot but a pragmatic application of AI to solve the most pressing business problems: enhancing grid reliability through predictive maintenance and mitigating existential climate risks like wildfires. To succeed, Idacorp must aggressively address its internal weaknesses by breaking down data silos and investing in a hybrid talent strategy, blending in-house expertise with external partners. The greatest risk is not that AI will fail, but that a risk-averse culture will prevent its scaled deployment, leaving immense efficiency and reliability gains on the table while nimbler entities define the future.

PacifiCorp NorthWestern Energy Avista Corp Portland General Electric Puget Sound Energy

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide reliable, responsible, fair-priced energy by achieving 100% clean energy by 2045.

Strengths

DATA: Vast datasets from smart meters, grid sensors, and weather models.
OPERATIONS: Decades of operational data to train predictive models.
ASSETS: Physical assets (grid) where AI can deliver tangible efficiency.
ENGINEERING: In-house engineering talent to validate and deploy AI use cases.

Weaknesses

LEGACY: Aging IT/OT systems can hinder seamless AI/data integration.
TALENT: Shortage of specialized AI/ML engineering and data science talent.
SILOS: Data often siloed across different operational departments.
CULTURE: Traditional, risk-averse utility culture can slow AI adoption.

Opportunities

MAINTENANCE: AI-powered predictive maintenance for grid assets to cut costs.
FORECASTING: Improved load and renewable generation forecasting with AI.
WILDFIRE: AI analysis of satellite imagery to predict and manage wildfire risk.
SERVICE: AI-powered chatbots and IVR to improve customer service efficiency.
TRADING: Algorithmic energy trading to optimize power purchase decisions.

Threats

CYBER: AI systems represent new, attractive targets for cyberattacks.
BIAS: Risk of algorithmic bias in load management or credit programs.
RELIABILITY: Over-reliance on 'black box' AI models could risk grid stability.
COST: High cost of developing, implementing, and maintaining AI platforms.
VENDORS: Dependence on a small number of specialized AI technology vendors.

Key Priorities

GRID: Deploy AI for predictive asset maintenance to boost reliability.
RISK: Leverage AI for advanced wildfire and weather risk modeling.
FORECAST: Implement AI-driven load and renewable generation forecasting.
EFFICIENCY: Use AI to automate back-office and customer service tasks.

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Idacorp Financial Performance

AI-Powered Insights

Claude

Gemini

GPT

Idacorp Q3 2023 10-Q SEC Filing
Idacorp Investor Presentation, November 2023
Idaho Power 2023 Integrated Resource Plan (IRP)
Company Website (idacorpinc.com, idahopower.com)
Press releases and financial news regarding rate cases and projects

Profit: $281.3 million (Net Income, TTM)

Market Cap: $4.5 billion

Stock Performance

Annual Report: View Report

Debt: $3.1 billion (Long-term)

ROI Impact: CapEx recovery through regulatory rate cases is critical.

SWOT Index

Composite strategic assessment with 10-year outlook

/ 100

Market Leader

ICM Index

STRATEGIC ADVISOR ASSESSMENT

Idacorp scores as a strong Market Leader. Its societal-level ambition is backed by a credible, though challenging, plan. The SWOT factors are balanced, reflecting the tension between strong market growth and significant climate/capital risks. The OKRs are well-formed and category-shaping. A regulated, geographically-bound business model and high survival probability temper the growth multiplier, reflecting steady, predictable expansion rather than exponential disruption. The result is a high-quality but constrained growth profile.

SWOT Factors

Upside: 83.3 Risk: 80.0

OKR Impact

AI Leverage

Top 3 Strategic Levers

Secure constructive regulatory outcomes to fund CapEx.

Accelerate diversified clean energy development.

Deploy AI/tech to mitigate climate risk and control O&M costs.

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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