IDACORP's Shift to Gas Investment: Impact on Earnings and Growth Expectations

IDACORP has increased planned spending by 20% after cancelling a wind project due to permitting delays and federal land use policy uncertainties. The pivot involves adding a 167 MW gas plant and other investments to address future capacity and energy requirements. This shift may alter expectations for IDACORP's long-term earnings stability and growth. IDACORP's outlook projects $2.3 billion in revenue and $441.8 million in earnings by 2028, with a fair value estimate of $140.88.