7 unchanged sentences
Variable Rate Debt :
−Removed: As of December 31, 2024, both IDACORP and Idaho Power had no net variable rate debt, as the carrying value of short-term investments exceeded the carrying value of outstanding variable rate debt.
+Added: As of December 31, 2025, both IDACORP and Idaho Power had no variable rate debt.
Fixed Rate Debt :
22 unchanged sentences
The ERMP has been reviewed and accepted by the IPUC, designed to reduce exposure to power supply cost-related uncertainty, further mitigating commodity price risk.
−Removed: The RMC, composed of Idaho Power officers and senior managers, oversees the risk management program.
+Added: The RMC, composed of Idaho Power officers and senior managers, oversees the energy risk management program.
The RMC is responsible for communicating the status of risk management activities to Idaho Power's board of directors.
2 unchanged sentences
Idaho Power only engages in a nominal amount of trading activity for non-retail purposes.
−Removed: The ERMP require monitoring monthly volumetric electricity position and total monthly dollar (net power supply cost) exposure on a rolling 18-month forward view.
−Removed: The power supply business unit produces and evaluates projections of the operating plan based on factors such as forecasted resource availability, stream flows, and load, and orders risk mitigating actions, including resource optimization and hedging strategies, dictated by the limits stated in the ERMP to bring exposures within pre-established risk guidelines.
−Removed: The RMC evaluates the actions initiated by the power supply unit for consistency and compliance with the ERMP.
+Added: The ERMP requires monitoring monthly volumetric electricity position and total monthly dollar (net power supply cost) exposure on a rolling 36-month forward view.
+Added: The resource planning group produces and evaluates projections of the operating plan based on factors such as forecasted resource availability, stream flows, and load, and orders risk mitigating actions, including resource optimization and hedging strategies, dictated by the limits stated in the ERMP to bring exposures within pre-established risk guidelines.
+Added: The RMC evaluates the hedging and operational actions initiated by the power supply operational groups for consistency and compliance with the ERMP.
IDACORP is subject to credit risk based on Idaho Power's activity with market counterparties.
10 unchanged sentences
Based upon Idaho Power’s energy and fuel portfolio and then existing market conditions as of December 31, 2025, the amount of additional collateral that could have been requested upon a downgrade to below investment grade was approximately $48 million.
−Removed: To minimize capital requirements, Idaho Power actively
−Removed: monitors the portfolio exposure and the potential exposure to additional requests for performance assurance collateral calls through sensitivity analysis.
+Added: To minimize capital requirements, Idaho Power actively monitors the portfolio exposure and the potential exposure to additional requests for performance assurance collateral calls through sensitivity analysis.
Idaho Power is obligated to provide service to all electric customers within its service area.
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.