Idaho Energy Resources Authority
Statement of Purpose
The Idaho Consumer-Owned Utilities Association’s (ICUA) proposed and successfully supported legislation to establish an energy-related lending/financing authority with the ability to issue revenue bonds. This legislation was proposed in response to the recognized inability of Idaho’s municipal and cooperative electric utilities to adequately and reasonably finance transmission and generation projects required for the benefit and needs of their residents and members respectively.
Formed in 2005 by the State of Idaho, the IERA’s mission is to diversify and expand the state’s economy through improvements in Idaho’s electric generation and transmission infrastructure to allow the development or expansion of electric facilities in Idaho or the import of low-cost energy from other parts of the region. The IERA can participate in planning, financing, constructing, developing, acquiring, maintaining and operating electric generation and transmission facilities and their supporting infrastructure. The Idaho Energy Resources Authority Act (Act), the enabling legislation, provided the IERA with bonding authority and other powers to promote transmission development in the state and the region.
Goals and Objectives
- Fulfill legislative mandate of the Act;
- Build a successful loan portfolio; issue bonds as required to finance new transmission lines and facilities (substations, switching stations, etc.) or expand existing transmission lines and facilities required to support new generation facilities or greater energy transfer requirements in the state or the region;
- Enter into partnerships with public or private entities; to build and/or upgrade interstate and/or other transmission lines or facilities; and
- Own and facilitate the operation of transmission facilities in those instances when requested by utilities eligible to participate under applicable law.
- Investigate sharing of resources (legal, financial, technology, etc.) with other entities with similar interests;
- Develop budget and work plan, including staffing, administrative support, and outside counsel; and
- Initiate focused information gathering efforts as follows:
- Opportunities to provide viable and competitive financing for transmission and related infrastructure; and
- Ongoing regional transmission and generation activity.