IDACORP, Inc. Q2 2009 Earnings Call Transcript

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2009-08-06 18:14:17.0

Tags: Call Transcript, Oregon, Idaho, Earnings, Idacorp Inc., Taxes, Personal Finance, Financial Planning, Finance, Seeking Alpha

Question-and-Answer Session

Operator

Thank you. Ladies and gentlemen, we will now begin the question-and-answer session. (Operator Instructions). Your first question comes from Paul Ridzon of KeyBanc. Please proceed.

Paul Ridzon - KeyBanc

Darrel, did you say that 6.4 million from Oregon was pre-tax or after-tax?

Darrel Anderson

The 6.4 million from Oregon as we reported is a pre-tax number and go ahead, Paul, go ahead.

Paul Ridzon - KeyBanc

I was just looking at the reconciliation on the second page of your release?

Darrel Anderson

All right.

Paul Ridzon - KeyBanc

That totals to the change in net income right?

Darrel Anderson

That’s correct. The changes with respect to the difference in the tax rate on the gross basis is basically net of income from the other line.

Operator

Your next question comes from the line of Brian Russo of Landenburg Thalmann. Please proceed.

Brian Russo - Landenburg Thalmann

Earlier you mentioned your actual ROEs could you just repeat that please?

Unidentified Company Speaker

Starting with respect to 12 months ended June 30, 8.3% and then 7.9% for the calendar 2008 and 7.1% for the calendar year 2007.

Brian Russo - Landenburg Thalmann

Obviously, the ROE is improving with rate release and so forth. So I guess, that you continue to trend up on a 12 month rolling basis through you know the end of the year.

Unidentified Company Speaker

Our goal is that that number it would be trending up obviously as we continue to look our regulatory strategies, we’ll continue to look to close those gaps.

Brian Russo - Landenburg Thalmann

When can we expect you to file your next Idaho rate case?

Unidentified Company Speaker

First of all, Brian, one of the things we are doing is, actually finishing up the Langley proceeding. What we are also doing, we just filed the Oregon proceed and so we are in the process of accepting where we are with Idaho. If you know our history, we’ve historically kind of had these cases go into effect in June, and if that works to be the same path the first thing you would see from us is, sometime I know it’s been tend towards the end of this month if that was going to be our plan. We are continuing assess that, as we just finished up getting Oregon case filed.

Brian Russo - Landenburg Thalmann

In the event that you don’t file for 2010 rate release in Idaho, can you still earn your ROE or would there be some regulatory lag?

 

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