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Can Systematic Capital Investment Drive IDACORP's Long-Term Growth?
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Key Takeaways
IDACORP plans about $7.1 billion in capital investments through 2030 to support rising electricity demand.
Idaho Power targets generation, battery storage and transmission, with $1.3-$1.5 billion planned for 2026.
IDACORP's customer count rose 2.3% year over year, while industrial revenues increased 17%.
IDACORP (IDA - Free Report) is benefiting from systematic capital investments to expand generation capacity, strengthen transmission infrastructure and support rising electricity demand. These investments can increase Idaho Power’s ability to serve customers while supporting its regulated asset base.
Idaho Power expects to spend $1.3-$1.5 billion on capital expenditures in 2026, with total capital investments of about $7.1 billion planned through 2030, or an average of $1.42 billion annually. The spending is focused on generation, battery storage and transmission infrastructure to accommodate growing electricity demand. The company expects 2026 earnings of $6.30-$6.45 per share.
The company is progressing on major transmission and generation projects. About 70% of the 1,300 structure pads for the Boardman-to-Hemingway project have been completed, with more than 400 towers built and wire stringing underway. The project is scheduled to begin operations by late 2027. Construction has begun on the Southwest Intertie Project North, while work on Gateway West progresses. Idaho Power plans to develop 167 megawatts (MW), 222-MW South Hills and 430-MW Peregrine natural gas projects. It recently added 250 MW of company-owned battery storage capacity.
These investments are increasingly important as customer and load growth accelerates. Customer count increased 2.3% year over year, while industrial revenues rose 17%, reflecting higher demand from large contract customers. Overall, continued investment in generation, storage and transmission can expand infrastructure capacity and help IDACORP meet long-term load growth.
Investments Strengthening Utility Growth
Electric utilities are undertaking strategic capital investments to develop infrastructure, expand generation capacity, accommodate rising electricity demand and strengthen grid reliability. These investments can expand the regulated rate base, enhance operational performance and support sustainable earnings growth.
FirstEnergy Corp. (FE - Free Report) plans to invest $36 billion through 2030 under its Energize365 investment plan to modernize its transmission and distribution networks. These investments are expected to strengthen grid reliability and support rising electricity demand.
Xcel Energy (XEL - Free Report) plans to invest $60 billion through 2030 to expand and modernize its infrastructure. These investments aim to support growing customer demand and strengthen grid reliability.
The Zacks Rundown on IDA
IDA’s Earnings Estimates
The Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 8.14% and 8.59%, respectively.
Image Source: Zacks Investment Research
Debt to Capital
IDA's debt-to-capital currently stands at 50.08%, lower than the Zacks Utility - Electric Power industry’s 62.33%.
Image Source: Zacks Investment Research
IDA’s Stock Price Performance
In the past six months, the company’s shares have plunged 9.4% compared with the industry’s 14.8% decline.
View the Zacks #1 Rank List
Image: Bigstock
Can Systematic Capital Investment Drive IDACORP's Long-Term Growth?
Key Takeaways
IDACORP (IDA - Free Report) is benefiting from systematic capital investments to expand generation capacity, strengthen transmission infrastructure and support rising electricity demand. These investments can increase Idaho Power’s ability to serve customers while supporting its regulated asset base.
Idaho Power expects to spend $1.3-$1.5 billion on capital expenditures in 2026, with total capital investments of about $7.1 billion planned through 2030, or an average of $1.42 billion annually. The spending is focused on generation, battery storage and transmission infrastructure to accommodate growing electricity demand. The company expects 2026 earnings of $6.30-$6.45 per share.
The company is progressing on major transmission and generation projects. About 70% of the 1,300 structure pads for the Boardman-to-Hemingway project have been completed, with more than 400 towers built and wire stringing underway. The project is scheduled to begin operations by late 2027. Construction has begun on the Southwest Intertie Project North, while work on Gateway West progresses. Idaho Power plans to develop 167 megawatts (MW), 222-MW South Hills and 430-MW Peregrine natural gas projects. It recently added 250 MW of company-owned battery storage capacity.
These investments are increasingly important as customer and load growth accelerates. Customer count increased 2.3% year over year, while industrial revenues rose 17%, reflecting higher demand from large contract customers. Overall, continued investment in generation, storage and transmission can expand infrastructure capacity and help IDACORP meet long-term load growth.
Investments Strengthening Utility Growth
Electric utilities are undertaking strategic capital investments to develop infrastructure, expand generation capacity, accommodate rising electricity demand and strengthen grid reliability. These investments can expand the regulated rate base, enhance operational performance and support sustainable earnings growth.
FirstEnergy Corp. (FE - Free Report) plans to invest $36 billion through 2030 under its Energize365 investment plan to modernize its transmission and distribution networks. These investments are expected to strengthen grid reliability and support rising electricity demand.
Xcel Energy (XEL - Free Report) plans to invest $60 billion through 2030 to expand and modernize its infrastructure. These investments aim to support growing customer demand and strengthen grid reliability.
The Zacks Rundown on IDA
IDA’s Earnings Estimates
The Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 8.14% and 8.59%, respectively.
Image Source: Zacks Investment Research
Debt to Capital
IDA's debt-to-capital currently stands at 50.08%, lower than the Zacks Utility - Electric Power industry’s 62.33%.
Image Source: Zacks Investment Research
IDA’s Stock Price Performance
In the past six months, the company’s shares have plunged 9.4% compared with the industry’s 14.8% decline.
Image Source: Zacks Investment Research
IDA’s Zacks Rank
IDA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.