BOISE, Idaho and Portland, Ore. Wednesday, March 31, 2010--- Idaho Power and PacifiCorp today announced their companies have signed a Memorandum of Understanding (MOU) to review potential partnership opportunities in providing essential electricity transmission to customers in the region. The two utilities already are working together on a segment of the proposed Gateway West Transmission Line between Downey, Idaho and the new Hemingway substation, located southwest of Boise. This new MOU will open discussions relating to the termination of certain existing agreements between the utilities to be replaced by joint ownership transmission arrangements and also the joint development, construction and ownership of new transmission projects associated with portions of the proposed Gateway West Transmission Line located in Idaho, and Idaho Power’s proposed transmission line between Hemingway substation and Boardman, Oregon. Though non-binding, the MOU reflects both companies’ commitment to reaching agreements on these matters, to the benefit of customers. The MOU enables strategic discussions between the companies with the purpose of more efficiently utilizing the existing transmission system and potential partnership on new projects to preserve the companies’ rights on behalf of, and for the benefit of, their native load customers and to satisfy their capacity expansion responsibilities under their respective Open Access Transmission Tariffs. Subsequent definitive agreements reached by the companies will be subject to applicable state and federal regulatory approvals. Additional information is available at www.idahopower.com or www.pacificorp.com by searching “OASIS”. Both companies anticipate finalizing these discussions with agreements by fall 2010.
