Idaho Power to sell Oregon service territory for $154 million

Idaho Power is seeking to sell its Oregon service territory to the Oregon Trail Electric Cooperative for $154 million. The deal, which is expected to be completed by early 2027, is currently awaiting approval from state and federal regulators.

The sale would transfer approximately 20,000 customers across Malheur, Harney, Baker, and Wallowa counties to the Baker City-based cooperative. Idaho Power stated that the divestment would help maintain affordable rates amid unprecedented energy demand, noting that without the sale, Oregon customers would likely face a rate increase of at least 17% due to inflation and new investments.

While Idaho Power would exit the Oregon retail electric market, it will continue to own and operate certain generation and transmission resources in the state. The Oregon Trail Electric Cooperative will acquire nearly all of Idaho Power’s distribution lines, substations, and equipment located in Oregon. The cooperative anticipates that its customers may see a 5.7% rate increase to cover the costs of the investment.