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Idaho Falls Power has announced that there will be no increase in power rates for 2020. In addition to not raising rates, Idaho Falls Power customers will also be seeing a credit on their power bills in the form of a Power Cost Adjustment.
Each year IFP estimates the amount of electricity needed for the coming year. As the year progresses, if market conditions are favorable and water levels are high enough to generate excess power, the utility is able to sell that excess power on the market.
“While we can’t control the wholesale market or snow pack, we have definitely been the beneficiary of some very favorable conditions over the past few years,” said Bear Prairie, General Manager of Idaho Falls Power. “The surplus power generated during favorable water flow years helps bring in additional revenues that offsets our rates. When we have favorable market conditions combined with better water flow, we get really excited when we can credit the extra revenues we generate back to our customers.”
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