IDACORP Announces Leadership Changes

BOISE, Idaho -- Succession planning opportunities guided IDACORP, Inc. (NYSE:IDA) and Idaho Power Company boards of directors to approve one new officer position and expand existing officer leadership responsibilities, enabling several officers to broaden their knowledge and experience.

“Central to preparing our company for the future and achieving our vision of being regarded as an exceptional utility is the development of future leaders,” said President and CEO LaMont Keen. “As we enter a new era for energy, I am inspired by the possibilities ahead for our company and our communities. These corporate organizational changes contribute to turning those possibilities into reality by providing leadership opportunities that diversify and broaden our knowledge and experience.”

Following are specific leadership changes effective May 20, 2010:

• Daniel B. Minor, newly appointed executive vice president for IDACORP, Inc. and continuing executive vice president of Operations for Idaho Power.
• John R. Gale, promoted to senior vice president of Corporate Responsibility. Gale previously led Idaho Power’s Regulatory Affairs department and will now focus on corporate sustainability efforts.
• Ken W. Petersen, promoted to an executive officer for IDACORP, Inc. and Idaho Power as corporate controller and chief accounting officer. Ken reports to Vice President of Finance and Treasurer Steve Keen.
• Steve R. Keen, vice president of Finance and Treasurer, expands his responsibilities to include controller functions and Corporate Planning and Analysis.
• Vice President and Chief Risk Officer Lori D. Smith’s responsibilities now include risk management, audit, corporate security and compliance. Lori reports to Senior Vice President and General Counsel Rex Blackburn.
• Naomi Shankel, previously vice president of Audit and Compliance, now leads a new function as vice president of Supply Chain. Her new role elevates supply chain efforts, enhancing and centralizing processes around contracting, materials and procurement.
• Luci K. McDonald is broadening her leadership from vice president of Human Resources to include Property Services and Fleet as vice president of Human Resources and Corporate Services.

IDACORP, Inc. (NYSE: IDA), Boise, Idaho-based and formed in 1998, is a holding company comprised of Idaho Power Company, a regulated electric utility; IDACORP Financial, a holder of affordable housing projects and other real estate investments; and Ida-West Energy, an operator of small hydroelectric generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978. IDACORP’s origins lie with Idaho Power and operations beginning in 1916. Today, Idaho Power employs approximately 2,000 people to serve a 24,000 square-mile service area in southern Idaho and eastern Oregon. With 17 low-cost hydroelectric projects as the core of its generation portfolio, Idaho Power’s 490,000 residential, business and agricultural customers pay some of the nation’s lowest prices for electricity. To learn more about Idaho Power or IDACORP, visit www.idahopower.com or www.idacorpinc.com.

Media Contact:
Stephanie McCurdy
Communication Specialist
Idaho Power
208-388-6973 or smccurdy@idahopower.com

Analyst Contact:
Lawrence F. Spencer
Director of Investor Relations
IDACORP, Inc.
208-388-2664 or lspencer@idacorpinc.com