going in X.X% of mortgage summary Slide recently higher X.X%, X. It's results. and the uptick seen income. on at first $X.X an applications. general activity our and to few operating strong building When despite year, And quarter's of low hi, to after economic and just I'm uncertainty, quarter to rates remained customer relatively a everyone. Lisa, million of months we've added first start last growth the Thanks, residential permit rate our growth residential customer of compared
for a and point our growth we're noted, for Moody's expectations our and area Lisa upcoming customers. growth more commercial strong sizable forward growth, load from for are customer recall IRP. as in to outlook GDP that planning And significant continues of industrial going rapid portion to our service
customer of first per usage Back slight was for a the quarter increase residential resulted to in while in the down table during temperatures industrial slightly. of customer, much usage results, full
I'd of note year last below terms of quarter-over-quarter. that somewhat so was in temperatures, usage the first comparable normal also drove quarter that
normal to than longer with no We've season fields seen winter like on irrigation on condition recently. due a slow a start until relatively to the still
days XX So in we last did see some drawing nearly starting in April weekend.
looks plant using like it and us to were able farmers So to irrigation begin pumps.
to combined offset by in income, which customer small customers. Idaho a the of conditions adjustment and fixed revenues net cost weather usage from $X.X million the was commercial per Power's These cost slight residential mechanism operating increased decrease
income see in you'll rates an Other last the Plant, change in in revenue. The sales the increase the for classes. million higher-margin increased down, to $X.X that of a a to which of Jim operating megawatt customer tiered year, on retail hour Bridger per Idaho and mix change net order Further June were led the X impact rates portion increase. pieces from customer
order Jim the part quarter. the benefit last Remember, in of included during Bridger that call, has though, saw And that the first the on the to in noted added of we order deferral but that roughly provide last XXXX. XXXX, benefit $XX earnings after-tax a depreciation I we of benefit in expect As quarter. certain and Bridger outsized nonrecurring expenses, million year's an second
in October paid quarter continued transmission Power's transmission table, wheeling-related in resulting last million, wheeling operating costs. from the the year Idaho Also, U.S. for from transmission energy about price rate on wheeling revenues $X.X transmission tariff X% increase more with income the by Western Next volatility customers higher for of increased
on due to plant as flat In expenses deferrals. the labor part and spite from costs, our management well expenses efforts lower quarter-over-quarter. pressures of of throughout and continued from the cost scheduled as O&M other inflation regulatory maintenance in timing That business related was were
guidance a rest and reduction to that for in at look our XXXX year moment. O&M we on of when we're year, in discuss this the other the As working potential still I a to I'll compared get
in portion million The other cost sizable portion to future our higher for quarter operating adjustment were adjustment the listed in in gas power net contributed that expenses revenues of mechanisms risk rates wholesale on $X.X cost first of prices power power power mostly in in table. year's basically through the deferred in supply recovery and shared not changes to first the increase That's quarter. mechanism, and next due the continued high expenses the this
power normal our a similar guidance to had cost XXXX, current much of more conditions. contemplates return We pressures during operating and
months, [ we the forward of how the saw plays now, out. looking are see but over than ] year we'll prices past gas rest better the several For
table, due in was higher you'll of and issued million the Interest $X.X rates much see bonds. investment This that we drove income. in newly offset received early expense. by from interest increase increase interest on expense, an March Next funds market income partially the nonoperating decrease reflecting a in mostly to
results project interest used balance weigh activities. work from progress during construction of and for in increased build-outs We was expect our higher allowance funds relicensing Also, on higher average XXXX. expense continue construction to our as the to the this the over quarter balance
be project the sections expense depreciation the and installed not to this We this be though delivered will summer, until throughout fall. expect some may both the delays year. impact for in AFUDC Those receiving batteries portions year
Idaho resulting recording accumulated on expense, million. recorded additional our Finally, higher this from income credits tax our was amortization the mechanism based greater under on offset for to allows expectations to partially tax income X.X% of current $X.XX credit cumulated mostly the results, pretax of jurisdiction. of of help We year-end amortization us investment year portion Power's additional which full equity the by tax deferred to a XXXX in return balance Idaho regulatory use lift
recorded The full amount million. total we is our year amortization expected X/X additional $XX of of
impacts of from million other year's income $X.X all led Combined first combined a with items these to over subsidiaries, nominal quarter. increase last IDACORP in
you'll XX, our see of Slide On results recent of the some borrowings.
tranches early of we that placement delayed last in million the March a component. of $XXX received the included we private and First, final December, that draw priced
notes. and X.X% These of XXXX. see about a X.X% the first those XX-year with XX, slides offering X.X% can And in you the maturing bonds of principal on mortgage coupons for amount $XXX bond million and on March we issued in have registered XX-year that and
we the healthy average drive a XXXX. and rate last spread bonds, general during case filed to us cost saw carried in these demand we below back debt issue which ultimately for good of helped slightly We the
slide, used debt, the pay the off issuances to address off these of of issued power gas the and and you paper capital can our to the We all If spending. first quarter. portion of we'd the see from higher markets the during proceeds on pay half to volatile a commercial finance
capital of generally that issuances X. QX, bonds we on As even Power's The the closer recent which before, we've April moved million was Idaho at end to of relatively structure. the the $XX equity mentioned target ratio to payoff of matured XX% prior a
imminent, capital fund when how more future see that don't an our financing plans are of might be but does where the include a spending to issuance strategy forward in ratio, and issuances. We'll going target blend ratio, and some size months determining our time of and as both approaching debt on we coming equity our growth. that make we detail still of those in given Given we're the we equity
usual, credit intend plans market work to regulatory do balance ratings, shareholder impacts As and expectations, conditions capital we considerations there. as current on like we our
in regulatory quarter fuel first XX. mostly due to Turning to the from regulatory during Cash and from related accounts operations to power were Slide flow changes negative, costs. lag
filed and costs million rate a to June the Idaho on to You'll in Commission with power change note rates $XXX with X. higher we related expected customer increase that Idaho April, in an fuel
cash rate the costs. collect change we expect We to those on flow benefit operating as
can As continue of range to IDACORP's diluted the on in see $X.XX Slide you we per be expect share. XXXX XX, $X.XX to earnings to
With investment in use to the Power, year-end million on we Idaho. assumption Idaho return reach $XX the additional around equity that amortization credit tax of X.X%
thus of As mentioned, I the expenses that balance year. normal With track first weather far for the the supply more range. the portion year. on pro quarter booked over we results, guidance to our our the and year assumes QX of power X/X in This rata for EPS on a return normal we're of
$XXX in expected to million, to casual last less year range to O&M typical year plant full maintenance cost million related $XXX savings and our much efforts. of expect management to continue compared the to also with be of We the
to that, track. year's And O&M If than with it we're number. put year, would we're far lower able our on this O&M do thus last flat
of maintenance last year. of in activities and larger third quarters scheduled Some the the second were
have some pressures on headwind of inflationary costs higher tailwinds labor So services as costs and we continued and software the against examples.
our bottom spending be CapEx million of generation the year's this range within yet million. lifted to $XXX And range XX-year megawatt with of we've expect the hours X.X below $XXX X.X still last end actual megawatt the to forecast of be average the We compares now generation hours to million. hydropower year, year. of X to million finally, our still of in million X.X million for This
low the Our over saw in from the melt throughout snow past strong conditions as the that pretty slightly starting refill system better snowpack this in relatively to outlook need reflects of we the Those years conditions the at drought mind winter. couple well. reservoirs Keep levels. from resulted
through XX forecasters Slide weather toward Current projections outlook recent leaning that June normal are shows from XX% over NOAA. precipitation a temperatures above-normal than for more summer. for see for precipitation our and chance the temperature suggest August and
and call there, the your and I and are to stop I'll answer on questions. Lisa happy others
