saw XXXX usage, Thanks X, to customer you'll XXXX results Thanks, Slide financial we and had We of I'll tuning our higher a Lisa. weather-related strong afternoon, for in. our wheeling on everybody. transmission see Good in summary start where compared revenues. had growth. We continued higher results.
summer year-over-year the Also, the Idaho Jim Commission impacted order results. our notably Bridger from last
a operating supply for expenses adjustment hand, power as under those our On cost offsetting the power recovery other mechanisms. benefits well that higher were as were and of basis not maintenance the preferred net portion future expenses comparative on
revenues cost from service the a see summer appears based growth weather. added single-family usage to rates on the economic table, national you'll adjustment mechanism higher had FCA home sales adjusting impact our it a X.X% uncertainty comparative In results, impacted Idaho fixed to have mortgage Unsurprisingly, because negative and with customer of hotter on be operating area. also million the residential in $XX.X trend, The income.
at significant points our commercial in developed at forecast for relative term, for annual retail current in continued are the to growth X.X% customer to to and service despite the sales for load by we've positive recent XXXX the analysis percentages growth and We industrial near for outlook XXXX GDP the the our currently increase the IRP least large That residential the Moody's expectations said, in and and of growth in And forecasted driven our moderation rate strong growth. the trend X-year high looking IRP, IRP. customers. load expectation and part project next area, from years, X.X% seen a we
increase. So a notable certainly
rate both directions. the in actually industrial ramp seen some shifting We've some those customers, for large in of
flip the are ensure to the So our is demand when hard customers engineers switch. to working the upcoming our infrastructure online meet
irrigation and X% this temperatures to XXXX increase drove customer usage per usage agricultural in in growing increase usage second a abnormally and in and decline per decrease high year's an residential per Back irrigation of an quarter overall results. customer. start X% at the Extreme That customer overall weather volatile result and cool the was of industrial X% commercial a temperatures the during precipitation season. primarily in customer,
While all-time last hit we load September all-time exceed peak XXXX, in didn't record our we set peaks. August summer, and June of
also peak we've net reflecting cost all-time weather past per $X.X to operating increased in the growth We a the set over The new million seen winter much income. conditions of few customer usage combined the years. December,
offset next in small customer cumulative on see cost decrease increases million Idaho fixed in the adjustment Power's residential $XX.X partially and commercial you revenues, mechanism the usage. table, The that
you'll increase year, on for in sales the Jimbridger per June The million operating see that income revenue. from increased a plant, last increase. net led regulatory Idaho change the which retail $XX.X hour to of much in order X down, Further megawatt
Another higher-margin piece year. in relates sales compared to and customer to mix the customer classes change last to
an of We XXXX, benefit after-tax certain included $XX compared order $XX million when for XXXX depreciation benefit million expect the Jim to still provide the of expense. after-tax which to with income roughly Bridger of net deferral
U.S. tariff Power's transmission wheeling higher sustained increased activity for year wheeling costs. in led much volatility to which transmission income Also, table, increased wheeling October between Idaho $XX.X transmission reflecting price increasing across during Power's October more price transmission customers paid in of the spreads the transmission million. revenues market XX, hubs, system. the the and X% Energy XXXX, Western year, for energy operating Idaho in continued rate by on with next again wheeling So
and in variable two facilities other at operating to Higher compared expenses costs in several labor led decrease from O&M this with And million XXXX XXXX resulted $XX.X compensation maintenance and our a several were and plant that things, in the expense. income scheduled up backed XXXX. largest
individually, Inflationary like large transmission some increase. fuel pressures and that basis. distribution were smaller a on on professional services work large vehicle driver items, that were cumulative and maintenance were some of also smaller a There but
the potential to O&M X for the As on discuss Jim year. decrease when we in depreciation a the at XXXX. at And partially plant, expect accelerated depreciation expense order. higher assets last on of that the by which offset related the million look to XXXX. other and down the June in XXXX, service get reduction this we year, compared our net by I'll The I expenses to deferral Bridger depreciation this bridge-related in decrease guidance with expenses that's reflects compared table depreciation Bridger further Offset other plant began $X.X coal-related
both basically recovery and revenues sizable in through Idaho on Oregon higher $XX.X due Power's million of hydro the That's are adjustment which supply fleet and from the expenses, power water mostly low to portion and and cost the other the risk to net prices XXXX and to Idaho mechanisms changes power our not expenses and shared in table. impact increase of and of future higher The conditions. that wholesale contributed for operating generation next adjustment rates power portion were below-average cost deferred power mechanism, in due the gas
net million Idaho of CapEx. Wrapping that used significant income. for higher up in higher expense portion Power's was $XX.X decrease benefited from a construction our allowance during the table, non-operating funds from A
and related Trust rates We our the for life higher also interest pension income non-qualified interest investment higher plans. Rabi to higher insurance income to saw due market and
post-retirement debt. we year long-term offset partially as addition, related on costs plan items didn't these higher medical we recorded In a in recur to XXXX last interest And expected. were by
of So in increase drivers, combined, X.X% led those year-over-year. to in all total, a income
The a we that XX% of units. to and battery spending CapEx, last that over as some cash was gas efficiency bulk CapEx obtain our and and increased spending what historic plant and upgrades basis relative expectation. year large relative to those our for during by Our from XXXX, on spent year additional levels output about projects our storage to last additional natural
our XX, Slide we've X-year CapEx. On updated included forecast
already it year's see billion capital sizable You'll reflects expected XX% over additional $X with the an increase of that projects last of forecast, XXXX. end than through more
spending growth. and of industrial chart So that refreshed for at expectations cost responsive a major to projects includes our assumptions least our for portion capital commercial capital and
We believe outcome in somewhat of CapEx conservative the our pending we're estimates and for for energy RFPs being resources. capacity
the our the there's end period. X-year So that potential at CapEx back of could be higher forecast the
update the of commercial timing for will forecast as We more over solidified. growth our RFPs industrial and is outcome and of the the build-out time specific
increased the This going now planning growth forward rate will end over the has be further of we believe we at to as And XX%. prudent Slide of estimated charge thoughtful our base, will each is a outlined, respond eligible XX growth. next updated look just base it an reliability-driven as this while as over to of in continue and years. X the estimates, customer return a demonstrate year's obtain growth assets on last rate rate our Lisa to fair at projects
As on on we Idaho to maintain IDACORP liquidity. focused sheets balance plans, execute Power and ensuring these we're and strong continue
Our plans. the of credit and informed and investment continue rating forecasts we solidly agencies grade, our keep ratings to remain
We currently we financing believe a our fund but equity capital future issuance plans a of growth. with and capital so does blend generally see will size imminent, our strategy structure, of equity even given We as upcoming plans, don't target include the our capital be financed relatively debt. an XXXX debt
issued million balance issuance. of the in usual, to and conditions as as was that intend equity future. ratings, impacts Power's reference, considerations, credit only any XXXX, Idaho we meaningful $XX income since finance of IDACORP equity As like expectations, And around and regulatory phase next hasn't all a point fixed we market
comparable about in XX, from operating only and to operations you'll flows $XX liquidity XXXX, million Slide XXXX Turning flows IDACORP's were Cash lower. see position. cash to
continue The to our facility move has of pressures. income expense little consider issue to need ways related our ultimately last XXXX, Throughout a delayed it thoughtful loan statements manage interest term most during impact proven debt So to bonds entered we be into to saw we XXXX. our to spring to beneficial we relatively financing. as
and December, remaining of that a markets and In debt March. drew in draw $XXX early private Idaho the the late will in series in million those issued we'll the delayed Power first XX, million in XX years. $XX We bonds December, mature bonds of draw XX
This interest XXXX, another to spending increase mid-XXXX All storage draw finance bonds was particularly the slated our delayed capital useful this battery X% of projects date. a rate. the in plans, priced near roughly from our feature in-service expense issuance a will but issuance tool coupon for
the markets. interest for prudently managing this in During rest opportune of continue plan to focus on expense our and we windows looking year, debt the
next for set X.X% lower sad certainly behind. interest has bond to million those rate, Our rates maturity is the which April a leave $XX X,
operating guidance Slide and metrics XX assumptions. earnings our shows key XXXX range
expect in range of diluted earnings $X.XX $X.XX per XXXX share. We IDACORP's to the be to
With $XX supply Justin on to guidance X.X% the normal assumes a need additional equity to weather will million, realize credit in as tax utilize and return the amortization expenses. year-end XXXX Idaho. power Power in Idaho normal approximately This assumption mentioned, return to that investment of
of $XXX year We expect million be the O&M full million. to to in range $XXX
in still supply breadth While commitment they actively we team's as focus occur, closely costs. to We're our to and to overall on our our as chain working to continuing to manage continue watch trends the as well we're react vendors macro confident spending. inflationary of
also There consider. to some comparative factors are
of currently saw don't in we in XXXX, guidance expect on decline in a ahead, based and overall modest And maintenance see look compared we XXXX our XXXX. to plant with assumes plans in XXXX. we rate fact, a O&M schedule, As increase work like our
plan. piece but scheduled A other projects is T&D big several number but go saw for not plant will maintenance XXXX. one rate at in that according year year, that that that if be shift for scheduled to There we XXXX. fewer generally up only this things standard last a expense the and same at macroeconomic one plants of were increase maintenance labor-related the is in plants adjustments, year is absent plant also stacked major expense should Non-variable in with hydro this wage
range $XXX already the actual the over to this risen expectation levels CapEx million XX% which $XXX we year's the elevated on increase a will year. Our at midpoint saw to has spending of spending be this million,
to Our related XXXX as significant resource additions transmission Lisa project earlier. forecast increases as includes the well BXH line referred capacity to
given of hydropower megawatt to generation Finally, million hydropower the expect forecast hours currently of be our updated range million conditions, within the for X.X operating X.X most we to year.
of Although Idaho years, skiing the has good levels. year, so far drought the with this been low are pretty at snowpack seen starting over seen great, conditions reservoirs we've and in last the couple the conditions we've
Current suggest bode normal Normal well precipitation for the shows recent forecasters for temperature and as well XX see for refill into that reservoir and as spring. March conditions. projections outlook precipitation pump conditions through the for head would we melt Slide from May temperatures as weather irrigation and NOA. plants snow
I your happy on And and Lisa to with the call questions. that, are and others answer
