Friday, October 30, 2009

Idaho Power Quarterly Report

From Yahoo Finance, 10/29/09, Form 10Q for Idaho Power Co.

. . . IPC has several major projects in development. These projects are summarized here and are discussed further in "LIQUIDITY AND CAPITAL RESOURCES - Capital Requirements - Major Projects."

� Langley Gulch power plant (2012 baseload resource): On September 1, 2009, the IPUC issued an order granting IPC's March 6, 2009, request for a Certificate of Public Convenience and Necessity (CPCN) authorizing IPC to construct, own and operate the Langley Gulch power plant (Langley Gulch). The order also provided for cost recovery and ratemaking assurances requested by IPC related to Langley Gulch. Langley Gulch will be a natural gas-fired combined cycle combustion turbine generating plant with a summer nameplate capacity of approximately 300 MWs and a winter capacity of approximately 330 MWs. The plant will be constructed at an estimated cost of $427 million near New Plymouth, Idaho commencing in summer 2010, and is anticipated to achieve commercial operation by November 1, 2012. The plant will connect to IPC's existing grid.

� Gateway West transmission project: IPC and PacifiCorp are jointly exploring Gateway West, a project to build transmission lines between Windstar, a substation located near Douglas, Wyoming and Hemingway, a substation located in the vicinity of Melba and Murphy, Idaho near Boise. The estimated cost for IPC's share of the project is between $500 million and $600 million. The lines will provide transmission service for existing network and native load customers and their forecasted growth and provide for existing third-party transmission service requests. This project is intended to relieve existing congestion by increasing transmission capacity and to improve reliability to comply with reliability regulations. Initial phases of the project could be completed by 2014.

� Boardman-Hemingway transmission project: IPC is also exploring alternatives for the construction of a 500-kV line between southwestern Idaho at the Hemingway substation and the Northwest at the Boardman substation. IPC estimates construction costs of $600 million and expects to seek partners for up to 50 percent of the project when construction commences. The Boardman-Hemingway Line will provide transmission service for existing network and native load customers and their forecasted growth and provides for existing third-party transmission service requests. This project is intended to relieve existing congestion by increasing transmission capacity and to improve reliability to comply with reliability regulations. IPC estimates the project will be completed in 2015. . .