City of Idaho Falls signs long-term agreement to keep local energy affordable and reliable

IDAHO FALLS ~ Idaho Falls City Leaders Approve 20-Year Power Supply Contract with BPA to Keep Electric Rates Stable and Affordable

After three years of negotiations, Idaho Falls city leaders have approved a 20-year power supply contract with the Bonneville Power Administration (BPA). This contract will ensure that local electric rates remain stable and affordable for the next two decades.

The decision was announced by Idaho Falls Mayor Rebecca Casper, who emphasized the importance of protecting the community from the unpredictable energy market. "Idaho Falls Power is a city-owned utility and a tremendous asset to our community," said Mayor Casper. "City elected officials always strive to protect our community from the ups and downs of the energy market."

Under this new contract, Idaho Falls Power will continue to operate four city-owned hydroelectric plants on the Snake River, which currently generate about one-third of the community's electricity. The remaining power, approximately 60%, will be purchased through BPA, which distributes energy from federally owned dams throughout the Northwest. Any additional energy needs will be purchased on the wholesale energy market.

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Stephen Boorman, Interim General Manager of Idaho Falls Power, expressed his excitement about continuing their long-standing relationship with BPA. "Our city's self-reliance, technical expertise and commitment to public power makes continuing our 60-plus-year business relationship with BPA a wonderful opportunity," said Boorman.

According to Idaho Falls Power, this new contract is estimated to save ratepayers around $105 million over its 20-year term compared to purchasing energy on the open market. This significant cost savings is due in part to combining this guaranteed energy allocation with their existing hydro resources and recently completed Peaking Plant.

Lisa Burtenshaw City Council president also highlighted how this agreement aligns with one of their main goals as a utility - protecting ratepayers from unpredictable energy costs. "For 125 years, Idaho Falls Power has focused on providing customers with power to light our homes and power our economy," said Burtenshaw. "This agreement, along with our newly constructed Peaking Plant, ensures reliable, affordable power for decades."

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Idaho Falls Power customers already benefit from some of the lowest electric rates in the country, at just over 7 cents per kilowatt-hour, which is less than half the national average. This new contract with BPA will further solidify their strong financial position and ability to provide dependable service to the community.

In conclusion, Idaho Falls Power's commitment to managing risk while maintaining affordable rates has made them one of the most stable and community-focused power providers in the region. With this new 20-year contract in place, residents can rest assured that their electric rates will remain stable and affordable for years to come.

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