Idaho Power CEO marks company’s 100th anniversary by ringing NYSE closing bellAug 1st, 2016 | By Copydesk | Category: Business news, Featured, Services
By Idaho State Journal Staff
To commemorate Idaho Power’s 100th anniversary, company President and CEO Darrel Anderson rang the closing bell at the New York Stock Exchange Monday.
“It’s pretty amazing and we are pretty honored,” Anderson said in a NYSE interview just before ringing the bell. “For everybody back home it is an amazing experience and I want to thank all of you back there for getting us to where we are today. It’s been fabulous and the energy down here and the support for the company is just outstanding.”
Anderson rang the bell surrounded by five other IDACORP and Idaho Power representatives from across the company including IDACORP’s Chairman Robert Tinstman. At the closing bell, the company’s stock (NYSE: IDA) was up by 0.67, or 0.83 percent, trading at $81.58. The stock had a 52 week high of $83.40.
“We are poised in a really good way to stand where we are today as we look forward,” Anderson said. “We are strong today. We have a strong base and all we have to do is continue on the strong growth plane that we are on. We have a great service area, great customers, great owners and more than anything else great employees.”
More than 60 people from Idaho and across the United States watched the NYSE’s live feed online as Anderson rang the bell.
Today, Idaho Power employs about 2,000 people who serve nearly 530,000 customers throughout a 24,000-square-mile area in southern Idaho and eastern Oregon.
“Idaho Power was built over the past 100 years on a solid foundation that generates sound financial results,” Anderson said in a written statement. “As we look back on the success and longevity of the company, we also look forward to the opportunities the future will bring as we continue as an independent, vertically integrated electric utility.”
IDACORP, Inc. is based in Boise and was formed in 1998 as a holding company. IDACORP subsidiaries include: Idaho Power, a regulated electric utility; IDACORP Financial, an investor in affordable housing projects and real estate; and Ida-West Energy, an operator of small hydroelectric projects. IDACORP’s origins lie with Idaho Power’s operations beginning in 1916.