Lisa Grow on utility regulation
From Lisa Grow Conversation - 2024 Women and Leadership Conference · · The Andrus Center for Public Policy at Boise State University
“Our business model — we are a regulated monopoly right now. The trade we have for being a regulated monopoly is that we are regulated: we have to go and prove to the PUC and all our customers that the things we've done and the money we've spent is in your interest.”
On , Lisa Grow, Chief Executive Officer, President & Director at IDACORP INC, spoke about utility regulation during Lisa Grow Conversation - 2024 Women and Leadership Conference on The Andrus Center for Public Policy at Boise State University.
About Lisa Grow
Lisa Grow, president and CEO of Idaho Power and its parent company IDACORP, has described the current period as unprecedented in her career, stating that the utility is "one of, if not the fastest growing utility by percentage in the country." She said that with known load under contract, the company expects to "put 40 years of growth in place in 5 years." Grow noted that the company is building a 15-acre substation near Boise, referred to as the "chip substation," to serve large customers such as Micron. She explained that the company's philosophy is that "growth pays for growth," with costs for infrastructure that benefits a single customer assigned to that customer, while system-wide benefits are socialized. Grow has emphasized the company's energy mix, stating that about 40% of its generation comes from hydroelectric power, which she called the "crown jewels" of the system. She said Idaho Power is adding wind, solar, and batteries, and is converting coal plants to natural gas, which she said "lowers the carbon footprint." She described the company's goal of being 100% clean with company-owned assets by 2045 as "a goal not a commitment," because the company cannot violate its stated mission of providing "safe, reliable, affordable and increasingly clean energy" in that order. Grow also noted that the company faces challenges in permitting and supply chain, including sourcing steel for transmission lines from India and Turkey<｜begin▁of▁file｜>.